LyCI — the new generation of crypto. The top 25 cryptos in one click!
29th January 2019, Zug (Switzerland) — Lykke is bridging the gap between crypto assets and traditional investment products by launching the LyCI service token (ticker: LYCI) .
The LyCI Service token, allows customers to purchase the top 25 cryptocurrencies tracked by the LyCI Index in one click. The LyCI Index was introduced by Lykke at the end of 2018 and represents a market-cap weighted basket of the top-25 crypto assets, rebalanced minute-by-minute. The LyCI service token (pronounced “Lucy”) enables professionals and newcomers alike to participate in the crypto revolution, while diversifying the risk that is often associated with blockchain technology. This new product is first available over the Lykke Exchange — an online global marketplace where users can exchange cryptocurrencies and traditional fiat currencies on a secure platform with 0% trading fees.
The LyCI service token is the first of a series of planned products from Lykke that will provide a simple path to the cryptomarket for anyone who is seeking an alternative amidst growing concerns over shifts in the traditional economy.
Richard Olsen, CEO of Lykke and previously co-founder of Oanda said “With the collapse of cryptos in 2018, investors are sitting on losses. They own BTC, ETH, EOS or AltCoins and have to decide if they should just stick with their holdings or switch to another crypto with a better outlook. Buying another crypto is risky, because their timing may be wrong. Instead it is more efficient to switch to the Lykke Crypto Index (LyCI), a crypto ERC20 token in its own right. LyCI is rebalanced every minute and profits from the narrow spreads of the zero fee Lykke Exchange. Crypto investors no longer have to HODL; they can swap their holdings into an index that tracks the winners. The LyCI service token is the first token of its kind and makes it easy for investors to pick these winners, diversify risk and simplify the management of a broad universe of cryptos”.