What is LMT?
What is LYM?
What are NFTs?
How can I sell my minted NFTs
How can I obtain NFTs?
- NFTs can be obtained through minting on the Lympo NFT platform
- NFTs can be bought from other users on NFT marketplaces
- Lympo will hold auctions of some one of the kind NFTs
- They will also be available in the to be released NFT packs
How does minting work?
- Select pool: Choose the pool you want to participate in. Each pool has a unique NFT collection ranging from real-life athletes to custom and distinctive Lympo characters. You can participate in multiple pools.
- Stake LMT: Load your digital wallet with Lympo Market Tokens (LMT) and stake them in a chosen pool. The minimum amount to stake (per pool) is 300 LMT, and the maximum is 1 million tokens.
- Receive credits: The daily credit amount varies between 1 and 10 and is based on the LMT staked. Our goal is to create a fair competition system between all holders without excluding any group of participants.
- Obtain your NFTs: Spend your credits and receive NFTs. The price is based on the rarity of the given card.
When can I purchase LMT tokens?
However, after the price discovery, the LMT will soon be available publically via decentralized exchanges, with a main liquidity pair of LMT-LYM.
When will I be able to use my LMT tokens?
All LMT tokens received during the Official LMT Offering can be used for staking.
Buyers of the LMT tokens during the Official LMT Offering received 1/3 of their LMTs; another third are locked for three months from the offering date, and the remaining 1/3 are locked for six months from said date.
What are the LMT minting pools?
Where can I purchase LYM tokens?
Why are token approvals necessary?
- Approvals are required because the Lympo NFT Minting platform uses the Ethereum blockchain to settle trades.
- Approvals are needed once per token, per wallet and require a small amount of ETH to cover the transaction fee.
When using products that interact with the blockchain (i.e., decentralized exchanges such as Uniswap), you must first approve each token you plan to use. Such products use smart contracts on the Ethereum blockchain to execute transactions. To use a smart contract, you must 1) permit it to validate your token balance and 2) allow it to transfer the number of tokens you wish to trade from your wallet. As a real-life example, please think of the token approval process similar to an artist (user) selling their artwork (token) in a gallery (platform). Before artists can display their artwork at the gallery, the artist first needs to prove that they own it. Then both parties will sign a contract that gives the gallery permission to display and sell the artwork on behalf of the artist.