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Get Paid to Exercise and Be Healthy With Lympo
Health is a major concern today for most of us. In a world with increasing levels of pollution, people want to take care of themselves more than ever, even while on the go. Because of this there are numerous health-related apps out there. These apps are currently collecting enormous amounts of data from the various sensors on your smartphone or from your fitness trackers.
Currently, most of this data is being used to track your progress and allow you to share that information with friends. But one company, Lympo, believes there is much more benefit that can be derived from this data by using blockchain technology.
This Lympo introductory video explains the basic. Below, we look at the product more carefully in our Lympo review.
The Lympo project uses the Ethereum blockchain and the primary goal of Lympo is to help make the world healthier. Lympo does this by collecting data from the various sensors on a user’s smartphone or fitness tracker through their app.
This data is very valuable and is provided to certain organizations, such as research, fitness and health oriented organizations, who are willing to pay for it. In exchange for the data that you provide, you will be paid in digital currency: LYM tokens, an ERC20 native token of the Lympo network.
The Lympo app is currently being tested out by over 12 thousand app testers and the app is expected to be released and widely available in Q3 of 2018.
Lympo Token (LYM)
The LYM token is an ERC20 token, which is based on the Ethereum blockchain. This token forms the foundation for the whole platform. The Lympo platform does not accept fiat or any other currency as modes of payment. Organizations that want the Lympo data will have to pay for the services using the LYM tokens. This is primarily useful for gyms and fitness centers.
These gyms can then use this data to carefully devise the workouts. Users who provide the fitness data are also rewarded in the form of LYM tokens.
This token has a monetary value and can be exchanged for other crypto assets on many exchanges, such as Gate.io. They can also be used to avail discounts at the gym. A smart contract will ensure that the person receives a fair value for the data being provided.
Alternatively, users can also buy the Lympo tokens from the Lympo ICO token sale. The pre-sale resulted in the distribution of 265 million LYM tokens and the token sale is capped at 385 million LYM tokens.
The video below helps to explain how you can buy LYM cryptocurrency tokens.
The Lympo Team
The Lympo project was founded by Ada Jonuse. She is a blockchain entrepreneur who had previously worked closely with the UN office for drugs and crime. She was also named an emerging European tech star by the Financial Times and is an adviser for the ETHlend platform decentralized lending platform.
Patrick Brown is the solution architect for the project. This is because of his extensive knowledge of and experience with blockchain technology. All the operations are managed by Marius Silenskis and Justas Kregzde handles the smart contract development.
Other team members include Tadas Maurukas, Adomas Dicius, Zivile Kairyte and Sungmin Kim. The panel of advisers include Antanas Guoga, Dr. David Manset and many others who are extremely talented in the field.
Use-cases of Lympo
- For fitness institutes: Lympo gives the fitness institutes valuable information from the various fitness sensors. This information can then be used by these institutes to devise effective workouts for each individual.
- For app users: The Lympo platform now motivates users to go to gyms and other fitness centers and work-out. By checking in at these institutes, and using the app to generate health and exercise data, users receive LYM tokens which have a monetary value and can be sold at exchanges such as Gate.io.
- For research purposes: Researchers can now use this data to conduct studies based on the information that they gather.
Lympo is a compelling project with huge potential. The fact that it benefits both supply and demand sectors is truly unique. Lympo gives the users absolute control over their fitness data, which was otherwise being collected by third-party apps and sold to fitness institutions.
Until a live product is released it is somewhat difficult to assess it’s true potential, but we definitely will watch carefully as the Lympo app becomes launched. Overall, it seems that Lympo is one project to keep an eye on.
To find out more about the Lympo app, visit Lympo.com.
Dave Starkax built his first computer when he was 8 years old and has never looked back. Dave built trading platforms for the exchange of video game digital goods beginning in 2001. When he read the bitcoin whitepaper in 2011, he recognized it as a solution to the biggest problem his industry had been facing for over a decade. He joined Do Cryptocurrency upon meeting the founder and learning about his inspiring mission for the crypto community.