The First Short Token to Bet Against the Crypto Marketby Company Announcement October 8, 2019
Lykke launches Short LyCI, a new token designed to track the performance of the top 25 crypto projects and bet on their value falling in the future.
With the Crypto Market often experiencing long downward trends, many wonder how to “win” in the Crypto Bear Market. Short LyCI behaves as an “anti-index”. When the performance of the market is negative, Short LyCI profits. It lets holders cash in on the expectation of a declining crypto market while being diversified across the main market actors. Short LyCI is an ideal tool for those who wish to protect their funds against abrupt price drops like the one experienced on September 23, 2019.
According to Richard Olsen, Lykke’s founder and Oanda’s co-founder :
“ShortLyCI is a simple investment product to manage risk and hedge exposure during downturns. It makes money when crypto markets drop. Cryptos are not a one way street and go up and down. ShortLyCI is a game changer for investors in the crypto space; so try it out for yourself!”.
Short LyCI utility token is the latest addition to Lykke’s existing LyCI product offering. Earlier this year Lykke launched the LyCI line, providing an easy way to invest in the blockchain market without the hassle of keeping track of its rapid changes and disruptions.
- Short LyCI bets against the Top 25 blockchain projects by market cap
- LyCI tracks the Top 25 blockchain projects by market cap
- Smart LyCI tracks the top 10 blockchain projects working on improving how contractual agreements are recorded and settled.
- Pay LyCI tracks the top 10 cryptocurrencies that can be used to buy and sell goods and services.