Lykke (LKK) (created December 2015 and launched in 2016) Is a Switzerland-based blockchain-powered exchange to trade all assets with 0% fees.  It is a Fintech company bridging the gap between traditional finance and blockchain.^[2]
Lykke is an investment and financial product provider leveraging the power of the blockchain. The blockchain-based Lykke exchange enables users to buy, sell and store cryptocurrencies and all other digital assets securely and offers zero trading fees on nearly 100 assets classes including Bitcoin, Ethereum, Euro, United States dollar, Swiss franc, and many others.^[1]

Overview

Lykke (LKK)
Lykke is a new breed of cryptocurrency exchange that is based in Switzerland. It was founded in 2015 by Richard Olsen, the co-founder of the leading online forex broker Oanda Corporation.
Its head office is located at 2 Baarerstrasse, 6300 Zug, Switzerland. Lykke offers its users the ability to trade from fiat fx to fiat fx, fiat fx to crypto, and crypto to crypto, and also a selection of cryptocurrencies such as Bitcoin and Ethereum with Fiat money.^[3] Apart from offering its users a platform to trade cryptocurrencies, Lykke also provides a cryptocurrency wallet which they can download from Google Play store or Apple App store. Lykke, as a company, provides liquidity, issuance services, and consulting. The commissions and fees for Lykke are essentially zero.^[4]
The Switzerland-based company is building a global marketplace for the free exchange of financial assets. Lykke’s aims to democratize finance by leveraging the power of the blockchain. Eliminating market barriers, Lykke will provide and promote equal access from anywhere in the world to the digitization and trade of virtually any asset of value. Encouraging participation from all users, the Lykke exchange levels the financial playing field through direct ownership of assets and immediate settlement of trades.

Lykke Product

• Lykke Wallet
• Lykke Trade
• Lykke Index (LYCI)

Lykke Wallet

The Lykke Wallet was created by Richard Olsen the founder of Oanda. He successfully created an online Forex trading platform with Oanda.  The Lykke wallet functions like any other cryptocurrency wallet by letting Users store their cryptocurrency holdings, Ranging from Bitcoin, Ethereum and also the wallet utilizes the platform’s own native ERC20 based token, Lykke Coin (LKK).
The Lykke wallet is available for download on Google Play and App Store (iOS). In order to invest on the Lykke exchange, users need to use the wallet provided by the exchange.

One of the features of the Lykke wallet that puts it a cut above the rest of the cryptocurrency exchanges around the world is the fact that Lykke will issue its users a signed refund if the exchange is compromised. With this pledge by Lykke, users will be able to get their money back within 2 weeks.

Lykke Wallet Features

Easily Buy the Worlds Trending Crypto

Users can buy Bitcoin, Ether or other cryptocurrencies with their credit card or bank wire.

Secure Storage

Users can Easily transfer and safely store all their assets to their Lykke Wallet any time.

Convert Crypto to Currency Easily

Users can also request immediate withdrawal to their private crypto wallet or withdraw their cash to your bank accounts.

Methods of funds transfers

At present, Lykke supports the following methods of funds transfers:

• American Express
• Cryptocurrency deposit
• Giropay
• iDEAL
• JCB
• Maestro
• MasterCard
• PayPal
• PaySec
• POLi
• Post 24
• Postepay
• Przelewy24
• Skrill
• Sofort
• SWIFT transfer
• China UnionPay
• Visa Inc.

Lykke Wallet Supported Coins

As a wallet, Lykke provides its users with multiple storage choices. The Lykke exchange offers Forex option with 21 national currencies. It supports 80 different cryptocurrencies. Users buy and sell cryptocurrencies on the platform with the United States dollar or the EUR (and also deposit, but not trade crypto, through CHF, Swiss Franc, or GBP, Pound Sterling). In addition, Users can trade commodities on the Lykke platform. Commodities such as Silver, Gold, Palladium, and Platinum can be traded on the platform.

Users can obtain Lykke-supported coins such as BTC, ETH, LTC and others,by visiting the Platforms exchange list. Use the filters to find the right exchange.

Lykke Wallet Fees

Using Lykke Wallet, crypto deposits are free of charge, and you will be charged 0% for trading. However, withdrawals are subject to fees. These fees include:

• BTC – 0.001
• ETH – 0.001
• Dash – 0.002
• EOS – 0.1
• BCH – 0.001
• IOST – 80
• XRP – 0.25

Furthermore, Lykke does not charge for bank wire withdrawals. However, deposits through payment providers will result in fees from such payment providers. Users will be charged a deposit transaction fee of 3.9% for deposits by cards or external payment providers in USD, CHF, EUR, and GBP. Deposits can be made through, Master/Visa card, Skrill, PayPal, cryptos, and other means.

Geographical Restrictions on the use of the Wallet

You can make use of the Lykke wallet in any part of the world except in selected countries. You will not be able to access Lykke in the United States, Ethiopia, Ugandan, Japan, and Syria, Argentina, Bosnia and Herzegovin, British Columbia, Quebec, and Saskatchewan in Canada and some other countries.
Most Importantly, Lykke is beginner-friendly. Users can easily interact with the wallet’s features. After downloading the Lykke app, input all the required details and begin to store your coins. It offers a function to deposit and withdraw using a QR code.

Anonymity

Although users’ details are kept private, Lykke has some KYC and AML policies set in place. Users will have to provide a few personal details at the point of registration to comply with their AML standards. In addition, users will have to verify their identity sufficiently or risk being locked out of their accounts. Users may have to provide a photograph, their residential address, and an ID before they can use Lykke.
In terms of security, Lykke issues “colored tokens” which are representative of the assets traded. Outside of the Lykke ecosystem, these colored tokens have no value. If a token is hacked, Lykke will simply cancel the hacked token and issue a replacement token.
An additional layer of security provided by Lykke is the multisig wallets. These wallets require two authenticating signatures (one from the wallet owner and one from Lykke) before any of the funds from the wallet can be spent.

Lykke Index (LYCI)

LyCI is a service that Lykke Exchange offers to its clients. When they buy a LyCI service crypto token, they get access to a basket of the top cryptocurrencies, but not cryptocurrencies themselves physically. The Service Token entitles users to settle at any time those crypto assets, represented by LyCI at their live value. At the time they chose to settle the top 25 assets may be completely different from those that constitute LyCI now. Because as soon as an asset starts to devalue, LyCI starts reducing their position in it, and increases a user position in the appreciating assets. This is why users automatically always hold the top ones with LyCI.

Lykke Coin (LKK)

Lykke Coin is native ERC based token, Lykke Coin (LKK). The coin is valued at /100th of the company’s shares. It has a current supply of 1,285,690,000 with 316,809,738.68 in circulation. The last known price of Lykke is 0.00907005 USD as of 4th of October 2020. It is currently trading on 4 active market(s) with $11,771.85 traded over the last 24 hours(4-10-2020). 
It can be purchased on other trading platforms for any major cryptocurrency, like BTC, ETH, and XRP or fiat currency such as Canadian dollar, US dollar, and Euro.

Lykke 2-Year Forward token

Lykke 2-Year Forward is an ERC20-based token that confers the right of the holder to receive the base value of the token, expressed in digitized Lykke shares, or Lykke coins (LKK)
The Lykke 2-year forward coin (LKK2Y) is essentially a derivative on LKK. The buyer of one LKK2Y can purchase the right to receive one LKK 730 days after they ask for delivery.
This novel financial instrument operates like a forward contract with the benefit of being “at the run” for the entirety of the contract period. Delivery can be triggered at any time. Two years later, the holder of the token receives the equivalent amount of LKK. Its Ticker symbol is denoted as (LKK2Y) and has a Total number of 25,000,000 two-year Lykke tokens to be sold.

Team of the project

• Richard Olsen, Founder, CEO: Richard is a pioneer in high frequency finance with extensive entrepreneurial experience and well known for his academic work. He was a co-founder of Oanda Corporation, a currency information company and market maker in foreign exchange.
• Reta Hall-Hierholzer. Chief of Staff: Reta is experienced international finance, decision support, and strategy professional with more than 20 years experience.
• Sergey Ivliev, Products & Operations: Executed and supervised 100+ large scale system implementation projects with total revenue exceeding 40 Mio. Regional Director at PRMIA Russia and associate professor at Perm State University
• Michael Nikulin, Technology : Michael is architect, designer and developer with 10 year experience in creating market solutions for financial institutions, including Anti-Money Laundering, Fraud Detection and Financial Markets Compliance solutions. Combines deep knowledge of financial architecture with blockchain settlement mechanisms.
• Andrey Migin, Software Development : Andrey is exceptional team leader with 8 year professional experience of FX marketplace systems development.
• Marina de Mattos, Customer Success and Marketing: Marina brings over a decade of experience handling customer success in the financial services industry.
• Alfonso Rodriguez, Chief Product Officer: Alfonso is an expert in large scale digital consumer platforms and corporate turnarounds.
• Cameron Fletcher, Chief Technology Officer : Cameron is a seasoned professional with a strong engineering background and extensive experience working in the financial sector across Europe, leading agile transformation in international environments.Sebastian Gerigk, Chief Innovation Officer : Sebastian has vast experience in quantitative finance and financial product development.

Conclusion

Since its initial launch in 2015, Lykke has been gaining positive reviews from cryptocurrency traders from around the world. The exchange has laid down new standards for other cryptocurrency exchanges to follow if they will survive in this constantly evolving industry.
Lykke is building a regulated Blockchain-based market infrastructure that will enable institutional access and bring long-term patient liquidity to the crypto economy, improve price discovery, and decrease volatility. And has pioneered interoperable and salable infrastructure for settlement on public blockchains. We have extended the original infrastructure, which operated on Bitcoin’s Open Asset protocol, to the Ethereum-based ERC20 standard. Limitations in transaction capacity are overcome using bidirectional micro payment channels of the Lightning Network type.

Mission

Lykke’s mission is to build a new ecosystem for the outdated finance industry by leveraging the power of the blockchain. Since its inception, the company has been committed to upgrading finance and supporting the industry in reinventing itself, with a systemic approach across both B2C and B2B markets. Through its marketplace, Lykke offers unique financial products and empowers both retail customers and financial institutions to invest with no intermediaries, low cost and ease of use.

Team

Richard Olsen is the Founder and CEO of Lykke Corp. Richard is a pioneer in high-frequency finance with extensive entrepreneurial experience and is renowned for his academic work. He was a co-founder of OANDA, a currency information company and market maker in foreign exchange. Under Richard’s stewardship as CEO of OANDA, the company was a shooting star that launched the first fully automated FX trading platform offering second-by-second interest rate payments and netting $37 Million in profits by 2007. He is visiting professor at the Centre for Computational Finance and Economic Agents at the University of Essex.