They are open now and initially available in 18 states. Looks like it is another T-Mobile-based MVNO. There are 3 plans:
$49 - Unlimited Talk, Unlimited Text, and Unlimited Data (1st 250MB at 4G)
$39 - Unlimited Talk, Unlimited Text, and Unlimited Data (1st 100MB at $g)
Paygo - 4 cents per minute, 4 cents per sms, 6 cents per MB
For paygo, there is not seem to be any mention of what the minimum refill requirement is to keep the account active. Website does says you can port your old number. Plus as mentioned in its similarity to AOL of yesteryear, Lycamobile seems to want to send a free sim to everybody.