Healthy Lifestyle Ecosystem Lympo Will Distribute 20% of Company Shares to LYM Token Holders
| Updatedby Darya Rudz · 3 min read
Lympo has decided to distribute 20% of its shares to the LYM token holders, giving an additional value to them in terms of the company’s ownership.
The current state of the crypto world is unstable. In recent years, many companies started conducting a token sale and putting up funds for projects offering contributors their tokens. Token holders believe that coins give them an additional value in terms of companies’ ownership, but they often have no say in critical decisions of a company and, most importantly, receive no transparency.
The market is very volatile, so many tokens lose their value. This issue recently received a lot of attention in the crypto community, and so in order to set a positive trend, Lympo decided to add additional value and stability to its token by making it an asset-based token, giving holders an actual share of the company.
Lympo is healthy lifestyle ecosystem powered by user-generated and user-controlled fitness and wellness data. Lympo will allow the exchange of value through the introduction LYM utility tokens, which are real use case tokens. Its goal is an ecosystem where data is used efficiently by all industry stakeholders and everyone is rewarded fairly.
Lympo consists of three pillars: the Lympo fitness wallet, a marketplace, and the Lympo crowdfunding platform. The Lympo digital fitness wallet and user reward mechanism is at the core of the Lympo ecosystem. The wallet functions as an entry to the ecosystem and allows users to be rewarded in LYM tokens for their healthy lifestyle achievements. But the users generating this data cannot aggregate, share and monetize it.
According to Medium, Lympo has made an announcement in which the company is promising to offer 20% of the its shares to thousands of LYM token holders around the world via the means of equity options. The company plans to start issuing stocks starting this April.
“Lympo’s aim is a token with the real long term value, a real use case inspiring people to be healthier and mass market adoption independent from the entire crypto economy. Our mission is to grow Lympo to a powerful company and to conduct an IPO (initial public offering) in the future,”said Lympo CEO Ada Jonuse. “In contrast to traditional businesses, we want our community to be a part of this journey. And that is why a decision was made by the team to offer a total of 20% of Lympo shares to our token holders.”
The distribution will be based on the number and the duration of the tokens held, expressed in a number of points to be constantly updated in a public data base.
This means real participation in the company decision making, transparency for thousands of contributors, and value for LYM token supporters. To prevent a few large players from taking control of most of the shares, Lympo will place a limit of max 1% share ownership in relation to its token pool.
The proposal is endorsed by the Blockchain Center Vilnius. The Blockchain Center in Lithuania together with its network centers in Melbourne and Shanghai serves as a global tech hub for blockchain innovation. Such a move will allow LYM to become a truly multi-purpose token.
