Lykke Corp completes public offering of equity tokens in oversubscribed funding round

Lykke Corp completes public offering of equity tokens in oversubscribed funding round

Lykke, a Swiss Fintech company building a global blockchain-powered marketplace, recently completed a three-week public offering of a deliverable 1-year forward equity contract. The offer, which was oversubscribed, garnered 2 million CHF for the company and added more than 340 new investors.

In September of 2016, Lykke raised over 1.16 million CHF in its initial coin crowdsale. The tokens, traded under the symbol LKK, are available on the Lykke platform issued as “colored coins” on the bitcoin blockchain.

The new token is a special kind of forward contract that is bought and sold on the Lykke exchange. Called LKK1Y, it entitles the owner to convert to the Lykke equity coins after a waiting period of one year. (Technically - you may trigger the delivery at any time, and you will receive the normal LKK tokens in your wallet 365 days later).

Currently, the price of the public LKK tokens is trading around 0.047 CHF. The LKK1Y “forward coin” is offered at a fixed price of 0.04 CHF - roughly a 15% percent discount for buying today and holding for at least one year. After a three-week settlement period, these forward contracts will be tradable on the Lykke platform.

“This is a huge validation for our project, our people, and our company,” said Richard Olsen, CEO of Lykke. “I’m thrilled that so many people are supporting us. We are now able to continue with our various license applications and improving our ecosystem.” Lykke is currently working on a number of new features and products to add to its trading platform.

Questions about this offering or Lykke in general may be addressed to support@lykke.com.

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