Lympo (LYM) ICO Review – ICO Token News
Lympo is developing a fitness wallet that will help individuals to reach their healthy lifestyle goals. Moreover, they will receive LYM tokens in exchange for sharing their data with health and fitness research industries.
Lympo (LYM)) Analysis
What is Lympo all about?
The users of this platform will be able to monetize and share their fitness data with health and lifestyle research companies. This data will be tracked on the phones and wearable of the users by the development team.
What Lympo aim to be?
This project aims to build a decentralized, open and blockchain based platform that allows health insurance enterprises to reward individuals who live healthy lives.
The main goal of this project is to develop a healthy lifestyle ecosystem with LYM tokens being used as a currency for payment for wellness, fitness, and other health-enhancing services and products.
How this platform works?
The working mechanism of this platform can be easily broken as below.
- A fitness instructor comes up with a program that will tailored made for the physical training and exercise needs of the users.
- The users will sign up on this platform and accept the program offered by a fitness instructor.
- By using the Ethereum blockchain technology, the Lympo network will link the users and the fitness instructors together.
- The fitness and health-related data are sent to the Lympo health portal through the user-friendly wallet.
- The users are rewarded with the tokens if they meet the set fitness goals set by the fitness instructors through their fitness program.
An ecosystem will be built by the development team associated with this project to ensure that the health and fitness data is used by the health and lifestyle research companies efficiently. The ecosystem will also ensure that every user will be rewarded fairly with LYM tokens for sharing their data.
The ecosystem consists of three major pillars, including:
- A marketplace
- The Lympo fitness wallet
- The Lympo crowdfunding platform
Why is Lympo a good project?
In the last few years, the fitness and the health industry has been growing at an exponential rate. By the year 2020, it is forecasted that the health and fitness industry will be worth $ 233 million. It guarantees investors that their investment will give them a good return on long-term investments.
What is Lympo new innovation?
Cutting-edge and the state-of-the-art Ethereum blockchain technology is used for development of this platform. This health and fitness related app and wallet allow users to sell their health-related essential data to different fitness and health research companies around the world.
Token Price and Token Sale
1,000,000,000 is the total token supply of LYM tokens. The total hard cap of the token sale will be 14.625 ETH. All the unsold tokens during the token sale will be destroyed after the competition of the ICO sale. ETH is used as a mode of payment for purchasing this token. Majority of ICO tokens such as Dentix, Adblurb, Kelta, Fire Lotto, RootProject, Stopthefakes, ECOS, World Wifi accept ETH for payment.
The pre-ICO sale will start from 23rd January 2018 and will end on 3rd February 2018 or as long as the supply of token last. 265 million tokens will be released for sale during the pre-ICO sale of these tokens. 20% bonus will be awarded to the investors who will purchase the first 90 million LYM tokens during the pre-ICO sale. One Ethereum will be able to purchase 60.000 tokens.
Main ICO sale
The token crowdsale of LYM tokens will start from 17th February 2018 and will end on February 28 or as long as supply lasts. Total 385 million tokens will be issued for sale during the main ICO sale. During the main ICO sale, investors will be able to purchase 40,000 LYM tokens with their one Ethereum cryptocurrency.
Distribution of tokens
- 5% of the total token supply will be released for sale during the main ICO sale.
- 5% of the token supply will be released for sale during the pre-ICO sale.
- 22% of the tokens will be reserved for the empowerment of the Lympo ecosystem and development of blockchain for sports foundations.
- 10% of the tokens will be allocated to the team and advisors.
- 3% of the tokens will be used for pre-sale and token sale costs.
This project is founded by Ada Jonuse and Laurynas Gumbis.
Lympo platform allows the systematic exchange of value through the introduction of LYM tokens. This platform will be powered by user-controlled and user-generated wellness and fitness data. It is an Ethereum blockchain (similar to other ICO tokens such as Current (CRNC), Cryptomon Token, Onyx, JOYSO, FRIENDZ, Ponder, Pitch, BunnyToken) company that aims to systematically decentralize the health and fitness industry. This platform will be ideal for any users who want to maintain his fitness as well as earn money in form of LYM tokens.
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