The competition and voting have completed. Winners were determined by the citizens of Lykke City.

  • Days of the project

    Dec 7, 2016 - Feb 6, 2017 (60 days)

  • Registration

    Dec 7, 2016 - Jan 28, 2017

  • Submissions

    Jan 14 - Jan 28, 2017

  • Voting

    Jan 28 - Feb 6, 2017

Lykke has a wallet for exchanging currencies on a smartphone. Using the wallet, people can register, upload cash, and then trade to other currencies and from person to person. Buying other currencies is extremely inexpensive — we have some of the lowest spreads of any exchange, and no fees. Settlement takes place in minutes on the bitcoin blockchain. You can download the wallet by searching for it in your app store and see it in our YouTube education channel.

We are looking for teams in any country who want to set up a Lykke subsidiary and run it. Examples:

  • Set up a bank account in one city in India to accept people sending us rupees. In exchange, we give them rupee tokens in our app, and they can use that to make purchases, exchange money with each other, and buy other currencies as a hedge against currency fluctuations.
  • In Uganda, we have a partnership with Bitbond to help convert bitcoin loans into local currencies. We need someone to facilitate that and show people how to use our wallet to manage their money.
  • We can create and issue local currencies just for one community. This has been done many times in the past and could be a path to a solution for some communities.

There are three phases to getting Lykke started in your local market:

  1. 1. An initial set-up phase of around 90 days to secure licenses, bank accounts, team members, do market research, and plan the launch.
  2. 2. A launch phase of 6 months to get people using the system.
  3. 3. An ongoing business phase that continues to build on the initial success, add more products and features, integrate more with local partners, and become part of the Lykke network worldwide .

We plan to start with a lean phase 1 that leads to a lean phase 2, using resources as effectively as possible. We will work with award winners to support their efforts through each phase. This could eventually lead to full-time employment or a franchise/profit-sharing model and can be taken to other cities.

How to Apply

We are looking for people who can take action and show us that they have the passion for solving a serious problem. You will have to open a bank account, accept currency, create and issue our tokens for local currency, arrange for a license, get the word out, etc. Our budget for this depends on the location, the market, and what you think you can accomplish. It will help if people on your team have experience in digital currencies, banking, business development, local and online marketing, currency trading, licenses, regulations, and media. We are looking for your enthusiasm and drive to solve problems in your local community.

Please include the following in your response:

  • Team names, histories, capabilities
  • Your country, city, market, demographics, and banking/currency situation
  • Experience with broker’s, e-money, or payment licenses
  • Plan for first set-up phase of about 90 days, including expenses and metrics
  • Plan for next six months’ marketing and roll-out, including budget

You should plan on spending two weeks on this proposal. Feel free to include videos, spreadsheets, slide decks — anything that shows you will be able to set up a local Lykke subsidiary.

Awards: We will give one $2,000 first-place award to an exceptional and market-ready response. We will also give three second-place awards of $1,000. Teams that win may be asked to collaborate with other winners.

Deadline: The contest ends on Saturday, January 28th, at 4pm Central European time. Please register by January 14th (though you can register later if necessary).

A few disclaimers: There is no guarantee of winning a prize. The prizes are only awarded to entries that the Lykke judges find worthwhile. Prizes are awarded in Lykke coins, which may be redeemed for currency and sent to your bank. You must be at least 18 years of age. You must not submit twice — your first submission is the one that counts, so test it on other people before you commit. You will be responsible for declaring your own income to your local tax authorities. All submissions will be disclosed to the public on the Lykke web site. The prizes are given at Lykke’s sole discretion. The decisions of the judges will be final — there is no appeals process if your project does not win a prize. No other compensation will be given at this stage.

To learn more, visit Lykke.com, get your Lykke wallet at the app store or Google Play, and see our videos on on YouTube. We also have a telegram community, where you can meet others interested in solving such problems.

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Please login to leave a comment
Ramachandran Ramasamy · 03:49 PM November 14, 2017

I am an Indian living in the United Kingdom. Seems like I am too late for this party. I am still a Non-Residential Indian holding India passport. I would have loved to setup a team in Chennai and get involved in LYKKE India. :(
Congrats to the Winners.

Ramachandran Ramasamy · 03:38 PM November 14, 2017

Is the submission closed for this project?

Jorg Nonnenmacher · 01:18 AM January 16, 2017

I would scale it through network service providers that retail to end-users. They have already a billing relation plus they can confirm residential address. That would go much faster. Richard Olsen has enough credibility that Tier-1 Telco / Cable pick the Lykke wallet++ over others.

mochammad azis · 03:44 PM December 15, 2016

Hi im azis from indonesia
im looking forward to gain advatage for this new opportunity
and here are my country statistic for internet user
The survey data also reveal that the average internet users in Indonesia using a handheld device. The statistics are as follows:

67.2 million people or 50.7 percent of access through handheld devices and computers.
63.1 million people or 47.6 percent of the smartphone access.
2.2 million people or 1.7 percent of computer access only.


Onifade ifeoluwa · 10:05 AM December 15, 2016

would like to get more detail on this programme please this my email [email protected]
am a networker and business man with different affiliates

Emmanuel Owokere · 04:11 PM December 14, 2016

Hello,I am from Nigeria with great population over 180 million active citizens,I love this concept it will be of great importants to both young and old mind projecting to the incoming generation to embrace world of digital currency that is changing and unifying the world.

Rowland Jumbo · 03:52 PM December 14, 2016

Hi,i write from Nigeria and I am very enthusiastic about this opportunity because here in Nigeria with close to 180 million people I see so much!

Lena Mechenkova moderator · 08:03 PM December 13, 2016

Gusti Ander, the prizes for competitions will be paid within 30 days, as it is stated in Terms of Use. Please note that if you continue your unconstructive and not related to the projects commenting, we will have to delete your comments and ban you from the site.

Gusti Ander · 08:24 PM December 12, 2016

Olsen before seting up any new contest, make sure you payout the prizes. Logo contest is an example!!!

Username reg. and Subm. Date Result Vote
January 27, 2017 07:35 View 31
January 28, 2017 09:35 View 8
January 28, 2017 11:59 View 6
January 28, 2017 05:59 View 0
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