Lympo’s LMT token added to Binance Smart Chain-DEX PancakeSwap Syrup Pool
28 April 2021 -- Tallinn, Estonia -- Lympo, a subsidiary of Animoca Brand, is pleased to advise that PancakeSwap, a Binance Smart Chain-based decentralized exchange, has added Lympo’s LMT token to its Syrup Pool. This will allow holders of the PancakeSwap token CAKE to earn bLMT tokens by staking CAKE, and a bLMT-BNB PancakeSwap farm will allow bLMT and BNB token holders to stake their tokens and earn CAKE token in return.
PancakeSwap also revealed that a total of 1,143,000 bLMT tokens will be distributed to CAKE token holders and approx $66,000 (per day) worth of CAKE tokens will be distributed to bLMT-BNB farm participants.
LMT is a recently launched utility token empowering Lympo’s ecosystem of sports-related non-fungible tokens (NFTs), including collectibles based on world-famous athletes, and is used on the Lympo NFT minting platform, which was just launched yesterday. During the initial LMT offering in March, $36 million worth of tokens were exchanged for the new LMT token.
Earlier in March, Lympo announced that the new token LMT and associated NFTs will launch on the Binance Smart Chain (BSC) to enable fast and cheap transactions for their holders. The first part of this endeavor is now finalized and the LMT token has been bridged to BSC, allowing anyone to easily exchange LMT to bLMT on www.multichain.xyz (bLMT is the equivalent of LMT token on the Bincance Smart Chain).
Binance Smart Chain enables the creation of smart contracts for tokens while being compatible with the Ethereum blockchain. It promises cheap transactions as low as 1 cent and a high-performance network capable of producing a block every 3 seconds. For holders of LMT and its associated NFTs, this means that minting, transferring, and trading NFTs will be much cheaper and faster.
“I am very excited about the opportunity to introduce our new LMT token to CAKE holders and to work with the Binance team to enable the whole Lympo NFT ecosystem on Binance Smart Chain. I am also thrilled that LMT token holders will be able to earn CAKE rewards on PancakeSwap. This cooperation is an excellent showcase for the potential of the Lympo ecosystem,” said Ada Jonuse, CEO of Lympo.
The Lympo NFT ecosystem
The Lympo NFT ecosystem, which is powered by LMT, is being developed in two stages. In the first digital collectibles stage, various NFTs of world-famous athletes, clubs, influencers, and enthusiasts will be issued in various rarities to establish a baseline supply. Last week, Lympo launched its first NFT pool, the Athletes pool, which now allows LMT holders to stake and mint the very first Lympo NFTs - more information can be found here: https://nft.lympo.io.
In the second content and media development stage, various activities will be launched including games using LMT as the main utility token and in-game currency. These games will implement a Play-to-Earn model. Players will be able to utilize their Lympo NFTs to create and upgrade their sports hero characters, and then form teams, play against other players, and participate in tournaments, earning rewards that have real-world value. More information on the Lympo NFT ecosystem is available here.
Lympo, a subsidiary of Animoca Brands, is building a sports NFTs ecosystem that includes NFTs based on world-famous athletes and clubs. The Lympo ecosystem will include custom sports characters created by various artists and sports influencers. Lympo was launched in 2018 together with its token LYM, traded on various exchanges as a token to incentivise a healthy lifestyle. Learn more at www.lympo.com or get updates on Twitter or Telegram.
About Animoca Brands
Animoca Brands, ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, gamification, and artificial intelligence. Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon. Its portfolio of blockchain investments and partnerships includes Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds. Its subsidiaries include The Sandbox, Quidd, Gamee, nWay, Pixowl, and Lympo. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.