Lympid is a platform that allows you to invest in fractions of alternative assets like luxury handbags, watches, horses, etc. We make it easy for investors to diversify their portfolios with high-potential, tangible assets traditionally reserved for the wealthy by using fractional ownership.
How can I own a fraction of an asset?
On the Lympid platform, you can own a fraction of an asset through a process called fractional ownership. The issuer of the asset, in this case Lympid tokenizes the asset meaning it's converted into digital tokens representing ownership shares.
At Lympid, owning a fraction of an alternative asset is simple and accessible. Instead of purchasing an entire asset, you can buy the shares or fractions through our platform and become a co-owner.
This allows you to invest in high-value assets with a smaller financial commitment. Each fraction represents a specific co-ownership percentage of the handbag, enabling you to diversify your investments across multiple items without the need for substantial upfront capital.
How are assets stored?
Storage depends on the asset type. We partner with reputable storage providers who specialize in handling luxury goods, offering optimal protection against environmental factors and potential damages.
In the case of show jumping horses, those are managed by our partner who trains them, feeds them and takes them to competitions.
What happens if the asset is damaged?
In the unlikely event that a asset in our portfolio is damaged, Lympid's insurance policy covers repair or replacement costs, including the horses.
What happens if Lympid goes bankrupt?
Lympid is committed to maintaining financial stability and adheres to all regulatory requirements to protect your investments. We have partnered with two European financial institutions regulated in Estonia and in Germany with the respective licenses: FVT000546 & 50085612.
In the rare case of bankruptcy, your investments are held in segregated accounts separate from our operational funds, ensuring that your assets remain protected and can be transferred to another trusted platform or returned to you.
Unlike other investment platforms, there is a real physical asset behind each investment you make, so, in this case there is always collateral that can be liquidated to return your funds. Additionally, our asset storage and insurance policies provide an extra layer of security for your investments.
How secure are my investment?
Your investments with Lympid are highly secure. We implement advanced measures, including encryption for all transactions, secure user authentication, and regular security audits to protect your data and funds.
Additionally, the usage of our partnerships with insured, climate-controlled storage facilities and rigorous authentication processes taken by our Expert partners, ensure that your investments are preserved and safeguarded against any potential risks.
Who decides when the asset is sold and for what price?
Each asset launched on the platform has a detailed factsheet with asset’s value projections, a defined investment horizon and exit scenarios. For each handbag, the investment period is disclosed in the factsheet, the asset can be sold in the Platform or to an External party if it can meet the Aggressive Returns targets.
At the end of the investment period if the asset did not achieve the Aggressive Return target, we engage with our partners, to sell the asset to find an appropriate buyer at the best possible price within 6 months.
The decision to sell an asset and determine its sale price is made by Lympid's team of experienced investment managers.We continuously monitor market trends, demand, and the performance of each asset to identify optimal selling and marketing opportunities.
How are these fractions taxed?
Taxation on your fractional investments with Lympid depends on your country's tax laws and your personal tax situation.
Generally, profits from the sale of investment fractions may be subject to capital gains tax. We recommend consulting with a tax professional to understand your specific tax obligations and how to report your investment income accurately.
How can I track the value of my investments?
Lympid periodically provides expert insights, allowing you to monitor the real-time value of your investments on the secondary market and will also provide an estimate of market value according to external marketplaces. You can view detailed performance metrics, market trends, and portfolio summaries at any time. Additionally, we offer regular updates and reports to keep you informed about the status and growth of your investments.
How is Lympid regulated?
Lympid is committed to maintaining financial stability and adheres to all regulatory requirements to protect your investments. We have partnered with two European financial institutions regulated in Estonia and in Germany with the respective licenses: FVT000546 & 50085612.
We adhere to industry best practices, and ensure that our platform meets all legal requirements. Our regulatory compliance safeguards your investments and ensures a trustworthy environment for managing your alternative asset portfolio.
What fees does Lympid charge?
We have a sourcing and management fee which is disclosed for each asset in the detailed asset presentation. It can vary from 1% to 10% depending on the asset.
All fees are clearly outlined prior to investment, and there are no hidden charges. You can review the detailed fee schedule before making any investment decisions.
When can I sell my fractions?
No need to worry about the best time for the exit. You can just sit and wait for an exit to be handled on our side and profits distributed.
When and how do I receive the profits of my investments?
Profits from your investments are realized when the underlying assets are sold at a profit. Once the sale is completed, the proceeds are distributed to investors based on their co-ownership fractions.
You can choose to reinvest your profits to purchase additional fractions of other assets or withdraw them to your bank account. Distributions typically occur after an exit scenario is completed.
What is the tokenization of an asset?
Tokenization is the process of converting an asset into a digital token that represents ownership or a stake in that asset on a blockchain or distributed ledger and can be accessible through Lympid but also other platforms that integrate the same blockchains we do.
How is the +5% yield possible and where does it come from?
The yield comes directly from tokenized USA T-Bills, in other terms, from US debt. Your funds are invested in a combination of US Dollars held in US Demand Deposit Accounts (i.e. Bank Accounts) and short-term US Treasuries.
The US Treasuries will be in a “cash custody” accounts at Morgan Stanley and StoneX. The US Treasuries will not be rehypothecated.
Funds are hold at third-party qualified custodians, receive daily accounting from NAV Consulting, and will receive annual audits.
Colateral Agent is Ankura Trust Company. As Collateral Agent, Ankura will be prepared to seize the assets that secure the tokenized T-Bills and repay holders if the tokenization company was to cease operations or breach certain covenants of the debt.
These agreements give Ankura the legal right and obligation in its role as Collateral Agent, to take control of assets and repay Tokenholders upon the occurrence of certain events of default and upon acceleration of the loans.
Events that trigger such an action include a failure to repay redemptions, a failure to keep the tokenized T-Bills adequately capitalized, or the tokenization company filing for bankruptcy. Investors in the tokenized T-Bills have what’s known as a “first security interest” in the tokenization company underlying bank deposits and Treasuries, with Ankura Trust acting as the collateral agent the tokenization company is a bankruptcy-remote.
Where does the staking yield come from?
Ethereum and BNB staking products let you earn more Ethereum or more BNB just for staking them with us. The staking rewards are a form of payment for helping secure the ETH and BNB networks.
Does Lympid manage my funds?
Lympid does not manage your funds. We do not take risks for you, we do not use your virtual assets, or Fiat, to generate yields.
We simply provide an easy gateway to already existing protocols. From there you can self-service the products that best suit your needs.
How can I access tokens that are only available in decentralized exchanges?
Through the integration of 1inch (a decentralized liquidity aggregation protocol) API we are able to source the tokens that can only be found on decentralized exchanges.
How is my EUR account managed? By whom?
After approving the KYC process you will be entitled to a personal vIban account. Such vIban account is 100% managed by you, no one else has access to it. The issuer of the vIban account and all related fiat services is a European licensed financial institution.
Your fiat funds are segregated from the company funds, in case of bankruptcy your assets cannot be used to repay Lympid debts.
Where are my crypto funds stored?
Crypto funds are stored in Fireblocks’s infrastructure.Lympid creates wallets on your behalf so that you can access the different On-chain products and services. By using this method we can assure that we can recover your account.
Your crypto funds are segregated from the companies funds, in case of bankruptcy your assets cannot be used to repay Lympid debts.
How do I know which products present higher risks than others?
Our team of experts builds a risk management system analyzing the inherent risk of each product taking into account a multitude of variables. Each product has a risk level associated with it, which you can use to make accurate decisions.
What are crypto index baskets?
Crypto index baskets track the value of the most relevant assets in its area. Imagine you want to invest in Metaverse companies, you would just need to invest in the Metaverse Index and you will have instant access to a basket of the main tokens associated with Metaverse. The same applies to NFTs, DeFi, etc.
How will Lympid act if an On-chain protocol is hacked?
Investing in On-chain protocols bears its risks and Lympid is not responsible for any losses occurring from any event. Yet, taking into account the risks involved in DeFi investment, we created a coverage vault which is filled with a % of all revenues of the platform. The more users the higher protection each one will have.Can I redeem my funds at any time?
Can I redeem my funds at any time?
Yes, you are free to come and go as you please.Is Lympid authorized to do virtual assets custody and exchange services?
Is Lympid authorized to do virtual assets custody and exchange services?
Lympid connects to regulated entities in Europe, these entities have regulatory approval in Germany, Estonia and Malta.Between them they are approved for crypto custody, crypto exchange and EUR management (such as creation of vIban).
What are $LYP tokens used for?
$LYP token is the governance token of Lympid. By using our services you will be rewarded with tokens, if you lock them you will level up and gain access to lower fees, better customer service, higher APYs, Copy trading and Treasury income distribution.
I run a Web3 company, can I open an account?
Most definitely yes, we are crypto companies friendly. Your company will have access to a vIban a debit card and the cryptoverse. All other traditional activities are welcome.
What is slippage?
The trades in Lympid are done on-chain. Meaning that we are connected with 1inch decentralized exchange.
All trades performed on-chain can be subject to slippage, which is the difference between the expected price of the asset and the price at which the trade was executed. This happens when the price of an asset changes between the time you request the trade and the trade is actually performed.
In order to protect your trades the slippage was capped at 0.5%. This means that the asset price difference won't go over that value.
What do you mean with SEPA?
SEPA stands for Single Euro Payments Area. These are the normal transactions occurring within the Euro Area, when you transfer EUR from one bank to another you are using a SEPA transfer.
Where can I find my bank BIC code?
The BIC code also referred to as SWIFT code stands for Bank Identifier Code. This is the code that identifies your bank. The most reliable way to get this code is by accessing your bank account and search for it, usually is under bank account details.
You can also find it online and for your convenience we are leaving here a website where you can search for ithere, or here --> Just add your IBAN and it will return the BIC code.
Always doble check this information with your official bank source, since we are not liable for inaccurate information provided by the above website. Please note that such website has no connection with Lympid.
What is the Bitcoin Network?
Bitcoin is a decentralized digital currency that was created by the pseudonym Satoshi Nakamoto (who no one knows who he/she is). It is built on a blockchain network, which is a decentralized ledger with the records of all transactions made using Bitcoin.
Transactions made using Bitcoin are recorded in the blockchain. Once a transaction is confirmed and added to the blockchain, it cannot be altered or reversed. This way everyone has a copy of the transaction and no one can mess with it. Since it is decentralized it allows for fast, worldwide and inexpensive transfers of value, as well as a level of privacy and security.
This level of security comes with a trade off, if you send Bitcoin to a wrong address or to an address on another chain (eg. Ethereum chain) the funds will be permanently lost since there is no way to revert the transaction.
When you do a transfer of assets from one wallet to another you need to be sure that you are sending the assets in the same chain. Meaning that if you have a Bitcoin wallet you can only send the assets in the Bitcoin chain and not on the Ethereum network, or BNB chain.
If you are not sure how to process these transactions reach to our customer support: client.journey@lympid.io and we will help you out. It is important to note that any transaction wrongfully made will result in total and permanent loss of the funds and Lympid team cannot revert it.
What is the Ethereum network?
Ethereum (ETH) is a blockchain platform that is used for decentralized applications (dapps) and smart contracts. As with Bitcoin network it operates as a decentralized, public ledger that records all transactions made on the network.
Unlike Bitcoin, which was designed primarily as a digital currency, Ethereum was created with the intention of allowing developers to build decentralized applications (dApps) on top of its blockchain. Ethereum has become a popular platform for decentralized finance (DeFi) applications.
When you do a transfer of assets from one wallet to another you need to be sure that you are sending the assets in the same chain. Meaning that if you have a Bitcoin wallet you can only send the assets in the Bitcoin chain and not on the Ethereum network, or BNB chain.
If you are not sure how to process these transactions reach to our customer support: client.journey@lympid.io and we will help you out. It is important to note that any transaction wrongfully made will result in total and permanent loss of the funds and Lympid team cannot revert it.
What is Polygon Chain?
It is a decentralized network which allows for high transaction speeds with low costs.
What it means for you? It means that you can send USDC (which is a stablecoin with USD value), or other supported tokens to other wallets almost instantly, with low costs and to any part of the world.
When you do a transfer of assets from one wallet to another you need to be sure that you are sending the assets in the same chain. Meaning that if you have a Bitcoin wallet you can only send the assets in the Bitcoin chain and not on the Ethereum network, or Polygon chain.
If you are not sure how to process these transactions reach to our customer support: client.journey@lympid.io and we will help you out. It is important to note that any transaction wrongfully made will result in total and permanent loss of the funds and Lympid team cannot revert it.
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