Join Lykke in launching a crypto-index investment fund
The 1st winner will join Lykke in launching a crypto-index investment fund
The competition and voting have completed. Winners were determined by the citizens of Lykke City.
Days of the project
Sep 5 - Oct 15, 2017 (39 days)
Sep 6 - Oct 8, 2017
Oct 8 - Oct 15, 2017
Interest in cryptocurrencies for investment is rising. Recently the Business Insider UK wrote, that an analyst at Goldman Sachs stated to portfolio managers that it is getting harder for institutional investors to ignore cryptocurrencies. The crypto world is still young with no easy way to get representative exposure. Lykke wants to build a crypto-index and want your help to achieve that goal and shape the future of investing!
We are looking for a talented person to help Lykke’s research team in building a crypto-index. Upon successful completion of the competition, you have the unique chance to join us to set up a crypto-index.
What is a Crypto index?
When people talk about the performance of financial markets or its direction, they are looking at the market through the eyes of an index. To help investors understand the stock market, the journalist Charles Dow introduced the first stock market index in the late 19th century and was followed by much more. The U.S. equity markets alone have hundreds of indexes to choose from. Indexes work like a summary of the market by tracking the top stocks within a market. Different indexes differ in how they track the market, namely in their specific rules for how they are calculated and maintained. These rules are predefined and known, as they are the core element of an index. Different rules are due to different goals of indexes and are sometimes at odds with each other, liquidity and representativeness for example.
Each index has a unique methodology. See for example the index methodology for the S&P 500 Equal Weight Index Methodology: methodology-sp-500-equal-weight-index.pdf
These documents state how the index is constructed (selection of assets and calculated), how it is maintained (rebalanced), return calculation etc. When setting up a new index, one has to think of how to track the market best. In our case, the specific features of cryptocurrencies have to be taken into consideration, namely the technology behind it as well as the infancy of the market, like liquidity, risk exposure, regulatory considerations etc.
We invite all researchers to familiarise themselves with index theory and cryptocurrencies and write a short proposal on how to construct a crypto index.
Requirements for the research
- The contestants need to write a paper that highlights the goal and main specifications of the crypto index (weighting method, rebalancing interval, dividend policy etc.) and discusses possible advantages and disadvantages of the picked set of rules.
- The paper should be well written and short.
- Any formulas or plots should be also included in the document.
The first prize is the opportunity to join Lykke in launching the first crypto-index!
Additionally, the first 4 contestants will receive a prize money of 400 $.
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. You will be responsible for declaring your own income to your local tax authorities. All submissions will be disclosed to the public. 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.
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