April 29th, 2022 | LKK Migration Announcement

As announced in our last Coinholder meeting, dated January 2022, Lykke is completing the steps to be able to migrate the LKK tokens to the new Lykke platform, converting the latter to the new Lykke security tokens (Lykke shares). The token will be freely exportable and transferrable and can be exchanged in the DeFi space, e.g. via P2P transactions. 

To complete the conversion to Lykke shares, the existing LKK holders will need to pass a simplified KYC process, including ID verification and address disclosure. LKK holders will further need to sign a registration agreement, defining the framework for the issuance and handling of Lykke’s ledger-based securities according to Swiss Law. All detailed steps for the migration process will be shared at a later stage. 

The migration will be performed gradually starting at the end of May. LKK, LKK1Y and LKK2Y will be migrated to Lykke shares by mid-June. 100 LKK, LKK1Y and LKK2Y coins entitle to 1 Lykke security token whereby the shares will be fractionable to up to 4 digits. Rights to dividends and voting rights will be introduced at a later stage. As a correction to the previous communication, the Lykke shares won’t be held in a custodian wallet but will be transferred directly to the users’ private wallets.

For users that do not want to convert their LKK a buy-back option will be available at the last traded price on 28th January 2022. Please contact us at support@lykke.com.

Last Traded Prices, 28th January 2022

Asset

Price

Currency

LKK

0.00663

CHF

LKK1Y

0.00620

CHF

LKK2Y

0.00680

CHF

In addition, we would like to communicate to you that the audited report will be made public with the conversion. More details to follow soon.