Lympo NFT Minting Platform going LIVE

Lympo
Lympo
Apr 26 · 6 min read

Lympo is building an extensive sports NFT ecosystem, including NFTs with IP rights of world-famous athletes, clubs, influencers, custom characters, and enthusiasts.

We are beyond excited to release the first element of the whole ecosystem -: the NFT minting platform! This is a place where LMT holders can participate in different pools by staking their LMT and obtaining Lympo NFTs. Athletes, o’Lympians, Exclusive, and eSports pools will be opened one by one, with more coming shortly.

The Lympo Athletes pool is the first one to open on the platform. The content in the Athletes pool will be updated weekly, with more and more athletes joining the family!

We are releasing the NFT platform on the Ethereum blockchain, which we will move entirely to the Binance Smart Chain later on. The reason is simple: We want to ensure that our community members can sell their NFTs on secondary marketplaces right after they mint them. We work with partners who are leaders in the industry (such as opensea.io) to get the most significant potential exposure to the NFT community and create the smoothest trading experience. However, platforms such as OpenSea do not have BSC NFT capability yet; thus, to not damage the user experience, we have to stick to the Ethereum blockchain for a little while.

Once the BSC NFT functionality is up and running, we will transfer all the minted assets and codebases to the Binance Smart Chain.

Ready to mint some NFTs? Follow a step-by-step guide and start your journey!

Step 0 — Put some LMT tokens in your ERC-20 wallet.

It would be best to have an Ethereum wallet like MetaMask or Ledger to store your LMT tokens.

This tutorial was made with MetaMask.

Add a “custom token” with the following details:

LMT contract: 0x327673ae6b33bd3d90f0096870059994f30dc8af

Symbol: LMT

Decimals: 18

Step 1 — Connect your wallet to the nft.lympo.io platform.

Upon visiting nft.lympo.io, click “Connect your wallet” at the top of the webpage. Don’t worry; you are not sending any funds during this step. You are simply allowing the Lympo NFT platform to connect to your wallet.

Step 2 — Choose the NFT minting pool you want to join and press “View Pool.”

Select 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 join multiple pools.

The Lympo Athlete pool is the first to open on the platform (others will be opened one by one shortly). The content in the Athlete pool will be updated weekly, with more and more athletes joining the family!

Step 3 — Click “Manage Stake.”

Click on “Manage Stake,” and you’ll see a white pop-up box where you can stake and withdraw your LMT tokens.

Step 4 — Click “Approve” the smart contract.

If this is the first time you interacting with a specific pool, you need to submit a transaction. This process allows the LMT smart contract to access the LMT tokens in your wallet.

  • 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.

If all goes well, click “Confirm.”

Step 5 — Enter your amount and click “Confirm” to stake LMT tokens.

Once approved, enter the amount of LMT tokens you would like to deposit into this staking pool and press “Confirm” to stake LMT tokens.

The minimum amount to stake (per pool) is 300 LMT; the maximum is 1 million tokens.

Our goal is to create a fair competition system between all holders without excluding any group of participants. To see the full explanation of the credit system, click here.

Step 6 — Confirm the transaction.

Click on “Confirm” to stake LMT tokens. You will then be asked to confirm the transaction on your wallet. Click on “Confirm.”

Step 7 — Track your transaction on the Ethereum blockchain.

After you have confirmed the transaction from your wallet, you should see a notification pop up in the bottom right corner of your screen, which shows you the transaction status.

Step 8 — Earn credits.

Congratulations, you’re now earning credits! As soon as your transaction is confirmed on the Ethereum network, you start collecting credits that allow you to mint NFTs.

Due to the broad LMT quantities distribution between holders, we came up with a formula that lets you earn 1 to 10 credits per day based on the LMT staked in the pool (the minimum amount to stake is 300 LMT, the maximum is 1 million tokens). Credit income, pricing, and supply of the NFTs were designed to always have a small deficit of the collectibles in the overall market. Based on this plan, the value of NFTs is set to follow market trends.

However, because we are in the super early alpha stage, the formulas used to design the staking mechanism will be adjusted, optimized, and tweaked based on the data and the feedback we will gather during the NFT minting period.

Our goal is to create a fair competition system between all holders without excluding any group of participants. To see the full explanation of the credit system, click below.

Step 9 — Spend your tokens to acquire NFTs.

When you have collected enough credits, you can mint your NFT.

Click “Mint NFT” below the NFT you’d like to obtain, et voila! Sometimes, in addition to the Lympo points you have collected, some NFTs will charge an additional fee in ETH.

Step 10 — One more transaction to be approved

You will be asked to confirm one more transaction in your wallet, but once that’s done, the NFT is all yours!

Please note that there is no auto-minting of NFTs, as you will have to perform this process manually. When you have collected enough credits, you must return to the platform, select your NFT, and submit a claiming transaction.

You can view your NFTs in the “Collection” section of the platform or a secondary market like OpenSea.

Want to learn more about the Lympo NFT ecosystem?

Check out the NFT minting platform

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