Exclusive benefits for LYM holders: the big reveal
Previously, we have discussed our plan to distribute tokenized Lympo utility shares, which will be issued to each Lympo supporter, holding 10,000 LYM tokens and more. These utility shares will be distributed as a newly issued special ERC-20 token, granting its holders various benefits and privileges. This is our sign of gratitude to you — our biggest fans and supporters. If you would like to find out more about this plan and our reasons for it, read here.
Now, the time has come to reveal the specific details and benefits that larger LYM holders will enjoy. The benefits will be divided into three tiers, according to the size of LYM ownership:
- Bronze (10k-100k LYM),
- Silver (100–500k LYM),
- Gold (500k-1 million LYM).
Each higher tier will also be able to enjoy the benefits of lower tiers.
Every year, on June 1 and December 20, extra LYM token rewards will be distributed to all eligible holders. The size of this reward will depend on how much Lympo utility shares one owns.
The first round will be distributed on December 20, 2018, with a pool of 5 million LYM. The size of upcoming reward rounds will be decided according to the price of LYM at that time.
How will we distribute the tokenized Lympo utility shares?
The utility shares will be distributed in proportion to the ownership of LYM in steps of 10 thousand. So, for example: 10,000 LYM — 10 utility shares, 20,000 LYM — 20 utility shares and so on. In order to receive 20 utility shares, one will have to hold no less than 20,000 LYM. We are also placing a top limit of 1000 shares — a single person will not be able to own more than that.
Each eligible holder will receive a part of 20% of the total utility shares supply. This 20% will be distributed during the first distribution round. Other shares will be issued during the upcoming rounds.
First snapshot to log the LYM amounts in the registered wallets will be taken on August 15, 10 PM (GMT+3). Since that moment, you may add more tokens to your wallet to receive more utility shares (until December 10, 2018).
HOWEVER, AND THIS IS IMPORTANT, YOU CANNOT REMOVE ANY TOKENS FROM YOUR WALLET AT ANY TIME, IF YOU WANT TO STAY ELIGIBLE TO RECEIVE UTILITY SHARES.
When will you receive the utility shares?
Everyone who holds upwards from 10,000 LYM, registers to receive the utility shares and performs the KYC until December 10, 2018, will receive tokenized Lympo utility shares on December 20, 2018. This is the first round of distribution and 20% of utility shares will be issued on the given date.
The conditions of this program may change due to unforeseen circumstances.
What are the requirements to be eligible to receive and keep the utility shares?
- You must hold upwards of 10,000 LYM;
- You must register as a holder on Lympo.io;
- Perform a KYC until December 10, 2018;
- Hold all of your LYM in the wallet address you have provided during the registration;
- In order to keep your tokenized Lympo utility shares and the benefits, you cannot pull ANY LYM from the wallet.