Swiss Startup Lykke Launches 2 New Crypto Indexes
Swiss startup Lykke has launched two new crypto indexes and
their associated service tokens, growing its product offering aimed at
providing “a simple path to the crypto market,” the company said
The first index, called Smart LyCI, tracks the top ten blockchain projects that work on improving how contractual agreements are recorded and settled. Smart contracts aim to facilitate agreements to be carried out among two or more parties remotely, without the need for a legal system, lawyers or courts. Projects comprising the index are Ethereum, Ethereum Classic, NEM, TRON, Tezos, Onthology, EOS, Cardano, NEO and Stellar.
Initial composition of LyCI Smart Contract, Lykke
The second index, Pay LyCI, tracks the top 10
cryptocurrencies that can be used to buy and sell goods and services. These
cryptocurrencies are Bitcoin, Bitcoin Cash, Bitcoin SV, Dash, Dogecoin, IOTA,
Litecoin, Monero, XRP and Zcash.
Initial composition of LyCI Pay, Lykke
Commenting on the launch, Richard Olsen, founder and CEO of
“In the traditional finance industry, professional investors
have been making a lot of money for a long time through index investing.
“We are introducing a wonderful opportunity for everyone to
make money and get involved in the exciting emerging crypto space.
Democratization of a previously closed and secretive industry is inevitable and
we are proud to be pioneering it.”
In January, Lykke launched
the LyCI Service Token, allowing users to purchase the top 25 cryptocurrencies
tracked by LyCI, an index the company introduced at the end of 2018 and
representing a market-cap weighted basket of the top 25 crypto assets,