Lyca Island Coin: Details, Price Analysis and ICO
In the world where the crypto industry, after scaling to more than US $2 trillion in valuation, is still trying to hit the right chord with the regulators, Lyca Island is attempting to set up a micronation on an island in Belize, which will be called the Republic of Lyca. The micronation, as we know, is a piece of land that declares sovereignty and begins seeking support from the well-developed nations to recognize its existence. Such nations are not part of active politics but are formed with a purpose; in this case, promoting and protecting crypto businesses is the prime motive.
Lyca Island is 7.53 acres or 300,000 sqft island in Belize that wishes to redefine the legitimacy of the crypto businesses by helping them incorporate the companies and use the crypto business banking services. The island will also allow people to become E-citizens by remotely issuing digital IDs. Lyca Island also plans to set up a crypto university and a digital hospital which will allow its e-Citizens to access the same facilities offered by a developed nation without leaving their native territory. Lyca Island plans to become a crypto-loving nation in itself.
Lyca Island will soon launch its e-citizenship program, which will allow the first 20,000 people to apply for a price of US $24.99. In India, the e-citizenship is priced at Rs 1,999. The e-citizenship in India can be applied with bank transfer, Paytm, and UPI. The proceeds from the e-citizenship sale will be used to buy back Lyca coins on Pancakeswap, add additional liquidity, and finance marketing operations.
Lyca Island is a physical place and has plans to promote itself as a crypto party destination that supports naturists and nudists. Hence, if you come to this island, you will witness bared-bodied free souls enjoying life to its fullest. Lyca Island will not support drugs, but all sorts of alcohol will be allowed, and a majority of them will be distilled and brewed within the Republic of Lyca.
Lyca Island will also launch its casino, which can be operated both online and offline. The license is priced at US $220,000 (lifetime license with 10% revenue sharing). Lyca’s management is in talks with a contender in India. The Lyca coins will be the prime currency for gambling in the Casino.
From e-university to e-hospital and from crypto banks to all sorts of services, the Lyca coin will be the only legal tender. Lyca Coin will reduce its total supply to 50 million in the next 12 months; hence, Lyca plans to build scarcity concerning its currency, allowing people to have Bitcoin supply like scarcity. As we all know, Bitcoin is still struggling to find its acceptance, and it is still nearly impossible to survive with just Bitcoin in your wallet. Still, Lyca, on the other hand, will provide a host of services, including a debit card to spend the earnings in the real world. The expansion plan of Lyca is limitless and can emerge as one of the most successful crypto projects. The project has a clear vision, well-defined strategy and is purely non-technical, providing a much-needed change in the cluttered IEO space.
The whole idea behind setting up the nude beach and resort is to compliment the concept of decentralization which the crypto world actively promotes. Crypto offers freedom to its users once it comes to transactions; the funds can be instantly transferred without the added burden of fees.
Price Analysis: Lyca Governance (LYCA) is currently listed on Pancakeswap and has BNB and BUSD pools. The trading pools have a limited number of coins in the pool to gauge investor sentiment and discover the actual market cap of the project. On a performance basis and as per CoinCodex, Lyca coin has delivered a staggering 400% return since listing, and as per the management, they have just started the growth. The market cap is currently above US $170 million.
Prediction: We expect the Lyca Coin price to reach the US $2 level by the end of 2022, which is 28 times more than its current price. Lyca Island is proposing celebrity promotions by organizing high-profile parties and making celebrities the e-citizens of Lyca. More engagement from the stars will help Lyca coins to scale up in value.
IEO: Lyca Governance (Lyca) IEO will happen on the Gate.io exchange. The expected launch price per coin is US $0.35-$0.40, which is 5.71 times more than today’s price of US $0.065. The ICO is scheduled for the first quarter of 2022. Lyca Island is proposing to have a minimum of 20,000 Lyca coin holders before the IEO. Lyca Island may target to raise US $10-15 million in the IEO.
Exchange Listings: Gate.io, WazirX, and direct listing to Binance. Lyca coin is a utility coin.