Using LYM for sports events: a means to pay, reward and motivate
The LYM token will have a variety of applications in many different sports and wellness related areas. Previously we discussed using LYM in the gym environment, however, that was only the beginning. Sporting events are another great area with huge potential for applying LYM.
Most of the time sports are all about striving to perfect yourself, to compete and eventually win. And winning should be rewarded, right? There are different traditional ways of rewarding winners, including monetary rewards, medals, prize cups and various other trophies. In our vision, this traditional system is about to change with the introduction of LYM.
Let‘s take a marathon for example. Whichever way we may look at it, running a marathon is not an easy endeavor. It requires extensive training, preparations and so — lots of motivation, which is key to achieving any goal. But what if Lympo would make it easier? There is a variety of use cases in the context of a marathon, so let’s take a look at some of them.
Rewarding LYM to marathon winners and top performers
LYM tokens could be rewarded as a bonus, in addition to the main prize or, a pre-announced quantity of LYMs could be distributed to a limited number of top performers. To put it simply, this would make LYM a tool for rewarding the best runners.
Rewarding LYM to all participants
Another great use case — awarding LYMs to all marathon participants. A pool of LYMs could be distributed equally to all marathon participants simply for their effort and enthusiasm. This would make for a great motivational tool potentially even increasing marathon participation rates.
Paying the participation fee with LYM
Let‘s say you‘ve accumulated a decent amount of LYMs in your wallet while training in the gym. Well, that‘s great! You may now use it to pay the marathon participation fee. All of this — without ever having to use traditional currency.
Using LYM to crowdfund sporting events
LYM could also be used to crowdfund independent community-based sporting events. With a big enough backing from the local sports enthusiasts, it wouldn’t be difficult to organize a marathon completely independently, gathering funds required for the event via the means of LYM crowdfunding. Used like this, LYM would serve more than just a token — it would actually empower entire communities of sports lovers to create something beautiful on their own.
These are just a few examples of the endless potential of the LYM token, an integral part of the Lympo ecosystem. We are excited and working hard for it to become a reality as soon as possible. How would you like to see LYM being used the most?