Today is the further important step towards launching the Lympo sports NFT ecosystem.
This article reviews the newly launched lightpaper and includes the details of the upcoming LMT offering. Please keep in mind that some minor details have changed since our last communication and carefully read this.
In this paper, we present you the LMT: It is the main utility token to mint and purchase sports collectibles (NFTs) representing unique content stored on the blockchain.
Lympo NFT platform development will be split into 2 phases:
In Phase 1, Lympo will issue a pre-defined set of digital sports collectible cards in the form of NFTs, featuring world-famous athletes and clubs, influencers, and O’Lympians (which are custom sport hero characters created by Lympo). These unique collectibles can only be obtained via staking of LMT tokens during Phase 1 but will later become available for purchase using LMT tokens.
In Phase 2 of the Lympo NFT platform, various content and entertainment activities will be launched to activate the NFTs minted in Phase 1.
LMT is a utility token that will be used to mint sports digital collectible cards. In due course, it will be usable in various content and media activities like sports-related games. Lympo will collaborate with game publishers worldwide to create an unforgettable experience for Lympo NFT holders and gamers. LMT token will also connect various games developed by Animoca Brands and its subsidiaries and partners, creating a unique gaming ecosystem and player environment. The demand for LMT tokens will be ensured by game fees and NFTs releases and will later be reintroduced back into the ecosystem.
The lightpaper also includes important details on the token supply, which is 1,250,000,000, and token allocation.
Lympo NFT pools
As introduced in our previous Medium post, Lympo will offer three different NFT pools:
- Athlete NFT pool of official licensed NFTs of world-famous athletes and clubs.
- O’Lympian NFT pool contains collectible cards of custom-made sport hero characters created by Lympo.
- The exclusive NFT pool contains one-of-a-kind NFTs with extra utilities in the whole Lympo ecosystem and can only be earned by the most hardcore Lympo fans. This pool can be joined for life only by the participants of the LMT offering.
LMT Token Offering
LYM token holders will be able to swap their LYM for LMT on a special token offering website. The LMT token offering is expected to happen on 19 March 2021, 6:00 PM, GMT+0 and will last 72hours. LYM holders can purchase LMT tokens with an exchange rate of 8 LYM to 1 LMT. In total, 125,000,000 LMT tokens will be available in LMT token offering. All the unsold LMT tokens after the offering will not be burnt; two-thirds of them will be transferred to the Reserve pool, and the rest will be allocated to the LMT-LYM liquidity pool.
Buyers of the LMT tokens during the offering will receive 1/3 of their LMT immediately, 1/3 of LMT will be locked for 3 months, and the remaining 1/3 will be locked for 6 months date of the offering.
All of the LMT acquired (locked + unlocked) can be staked to earn Lympo NFTs.
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