LYM and LMT cross-connection and Game Plan explained
Without a further ado
LYM is the ERC20 Cryptocurrency bridge. Its success will be paired with the success of LMT on BEP20. LYM token HAD no functioning tokenomics that COULD ever work for the holy Binance Exchange listing. The only way that listing COULD happen is by bridging it with the token with the right tokenomics and UTILITY.
This is where LMT comes to a play, LMT THE KEY. LMT is THE utility.
LMT is the main token to-be-used in the whole ecosystem (starting with the NFT minting platform) and the bridge with BSC will allow us to have quick and cheap transactions (you don't want to pay extra 30 bucks for NFT minting, do you?).
The LMT has viable tokenomics. It will work as a staking mechanism, as a utility in the whole Lympo ecosystem. I.e. You will have your own digital sports character that will be strengthened by equipping NFTs minted in the platform. The character will be able to enter competitions and compete with others to win some juicy prizes. You will also be able to own NFTs that will work as digital real-estate — virtual gyms, stadiums, arenas, where the competitions will be held, and so on.
So what are the concrete steps to achieve that and stabilize the economy?
- We launch an initial LMT offering, where you are able to acquire LMT.
- We bridge LMT with the Binance Smart chain
- We do an IFO in a pancakeswap.
- We then open LMT/LYM liquidity pool with the LYM collected during the initial LMT offering.
The goal is to generate the correct discovery price of LMT after the IFO based on new relative volume (it might reach 100:1 LYM to LMT ratio, based on the past IFO numbers that can be found here: https://pancakeswap.finance/ifo/history)
The only way LYM will connect to LMT is through a deep liquidity pool. And the early converters are rewarded by being in the early price equal to the IFO or better.
Animoca Brands has successful projects with similar tokenomics models:
- https://coinmarketcap.com/currencies/tower-token/ — 700m market cap
- https://coinmarketcap.com/currencies/the-sandbox/ — 1.8bn market cap
- https://coinmarketcap.com/currencies/revv/ — 1.2bn market cap
In relative terms, LMT because of supply dynamics has a lot of room to grow.
Only after the LMT price is set we will open the Liquidity Pool. The main reason not to participate in LMT offering is if you think that the LMT price will drop on the Binance ecosystem.
Based on the numbers of past IFOs -> https://pancakeswap.finance/ifo/history
The pool of LYM and LMT is probably going to be 30:1 or 40:1 LYM to LMT ratio post-IFO
So what is going to happen with LYM?
LYM will be the enter-exit point via ERC20 tokens.
Will LYM become worthless after the LMT offer?
The only reason why LYM will drop in value (outside of LMT dropping) is if there is no deep liquidity pool between LYM and LMT. If demand for LMT rises it is only natural to discover the most efficient way to buy into LMT, if LYM price is below the market because it is “cheaper” than a USDT or BNB pair then you buy LYM to buy LMT. This is called arbitrage.
Who will sustain the DEEP LMT-LYM LIQUIDITY POOL?
The initial liquidity pool will be opened after the LMT post IFO price discovery. It will be done with the LYM collected from the LMT offering and the LMT Ecosystem empowerment pool.
Then, we will incentivize users to enter the LMT-LYM liquidity pool by offering participants an option to MINT from the O’Lympian NFT pool.
Want to know more?