Yeah I wasn’t happy about that either when I first noticed. The thing is, very few coins represent equity. I’d hazard to guess that LKK is the only coin representing real equity in a real company.
The site Coinmarketcap was released at a time when it mainly was about Cryptocurrencies like Bitcoin. Those protocols have fixed payouts (mining or staking) and a hard cap (in Bitcoin 21 million BTC as max and currently 12.5 BTC per Block, approx. each 10 minutes). That made it possible to say “total supply 21 million Bitcoin” and “marketcap: xxx BTC” (current supply multiplied with current price). Over time there have been more projects with different eco-designs and coinmarketcap tries to differ between “total supply” and “circulating supply” but it’s not possible for them to find the one perfect rule that fits for all projects. Sometimes they simply ask the teams what is on the market and what might be locked up etc. And Lykke is one of the more complicated projects for them, because even if a lot of the supply is in hands of founders, team-members, seed-Investors and company itself, it’s technically not locked up. It can be moved. One could say “it’s not on the market as long as it’s not in public hands”. But also that is hard to differ - depends on definitions.
How it was meant for Lykke and actually that was the agreement: The circulating supply on coinmarketcap was connected to the trading-section of the App. That means if people move LKK from coinprism- or private addresses to trading the circulating supply goes up and the other way around.
The team recently moved supply, that still was stored on coinprism-addresses (generated before the App & trading section was released,) to the trading-section. That was also done to give a clearer picture about the total value, because some people who just looked at coinmarketcap sometimes confused that. But coinmarketcap “back-updated” to old numbers and as far as I know they haven’t been very communicative (while informed about the transfer before).
But this site gives a good overview about all important numbers: https://www.lykke.com/city/invest
And yes, Lykke is not the only project on coinmarketcap that is not displayed precisely.
So what’s the difference between Lykke and Swarm City?
I’m familiar with both projects and I can’t think of any way in which they’re similar.