On February 22, a Q&A session was held on Lympo’s Telegram channel where CSO Tadas Maurukas and CPO Marius Silenskis answered various questions regarding the company’s roadmap for 2019. We have picked out the most interesting questions and answers from the session for you to enjoy.
Note: some language was changed for clarity.
Q: Is Lympo building its own blockchain?
A: We have to build our own internal piece of blockchain due to rapid growing volume of challenges (transactions). The technology is still at a very early stage. So currently we are building all transactions in the private blockchain and the next stage is to sync it to the Ethereum network. Full cross-platform (not MVP) is planned for 2020 MVP Q2. We are already preparing for connection.
Q: So right now Lympo is a very good app but not a Dapp yet, correct?
A: Technically not Dapp yet, yes. We have over 10k+ transactions a day. And with our current growth rates after 3–6 months, Ethereum will not be able to handle us. We are implementing some elements. Our aim is to fully decentralized sports and health data based platform where users are able to monetize their data and get rewarded for their sports activities. It takes time. We need to take one step at the time. Such a complex system as we are developing to move it fully to the blockchain — 50 developers need to be working day and night for a couple of years. We are going to gradually extend it to public ledger. First thing is transactions sync, then opening Lympo app user identity as fully decentralized and the next step is decentralizing health data.
Q: Will you make LYM in the app transferrable?
A: We are integrating private Lympo app blockchain communication to public Etherium network at the moment, as well as implementing multi-signature wallet for higher security transactions.
Q: Do you think ETH is the best platform? Or are you looking to others as well?
A: We are doing integration to just connect token economics to public blockchain. We don’t think about Ethereum being and not being the most suitable platform in the future. We don’t predict where their tech will go.
Q: Can you reveal which countries will have an access to the Lympo app next?
A: Our main target is USA and Canada for now. We want to be focused on specific markets and avoid mistakes that can happen because of the localization, etc. Our goal is to deliver the best possible experience to the users. We will go to other markets when we are 100% confident to go there. Canada, Australia United Kingdom is very possible for 2019. We are flexible and will open to the other markets if there will be enough traction (we are constantly monitoring activities and behavior of the users). English speaking countries are priority due to localization.
Q: Can you open Lympo app for people from the community?
A: We are highly considering this option to open the app for our community with a private registration.
Q: Do you plan integration with smart watches?
A: Fitbit coming soon. Others in upcoming 2–3 months. Apple Watch, Apple Health, Google Fit is already done. Samsung Health — we are waiting for the confirmation to be a trusted partner, but functionality is already done. Some big things are on the pipeline so we will have to push even harder to finish Garmin and Polar integrations throughout the next couple of months together with partners’ integrations and other app improvements (like social features, etc.).
Q: After Q2 very rapid growth of users is expected — from 130k to 430 k. What is the leading factor which will bring the masses in 2019?
A: We have some big partnerships and marketing campaigns in the pipeline, stay tuned.
Q: Why not a partnership with universities for research (eg. Sports Science, Sports Physiology), maybe I could provide one?
A: Help from community is always amazing. We are very happy that both communities are very active — crypto and app.
Q: Any other sport organizations being targeted?
A: At this stage we are targeting partners that can bring the most new users to our platform. Our main focus — growth. The more users are there using the app, the more businesses can be attracted. This is the way to increase demand and value of the token. After all, our goal is mass adoption to become that one real front facing app, understandable to every one of the blockchain world.
Q: Is 2019 roadmap public for media?
A: The roadmap is public and already available in Lympo.io webpage, we will have announcements in China, South Korea and other markets as well as in social media. Also, it’s very precise and based on calculations, so we were very careful about what to say, and because we are working with new partners, everything has to align, and also we have to be extra careful not to break NDAs.