Frequently Asked Questions

1. How is the high yield possible?

1. On-chain products already offer a multitude of products which are steadily offering passive income on stablecoins and other virtual assets. Lympid connects you to those products through a Fiat gateway.

1. Let's take a look at one example, AAVE. This is a decentralized protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over collateralized way and pay interests on the capital borrowed, which then goes to the depositors.

2. Does Lympid manages my funds

1. 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.
2. We simply provide an easy gateway to already existing protocols. From there you can self-service the products that best suit your needs.

3. How can I access tokens that are only available in decentralized exchanges?

1. 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.

4. How are my fiat funds managed? By whom?

1. 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.
2. The issuer of the vIban account and all related fiat services is a European licensed financial institution.
3. Your fiat funds are segregated from the company funds, in case of bankruptcy your assets cannot be used to repay Lympid debts.

5. Where are my crypto funds stored?

1. Crypto funds are stored in Fireblocks’s infrastructure.
2. Lympid creates wallets on your behalf so that you can access the different On-chain products and services.
3. By using this method we can assure that we can recover your account
4. Your crypto funds are segregated from the companies funds, in case of bankruptcy your assets cannot be used to repay Lympid debts.

6. How do I know which products bear higher risk than others?

5. 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.

7. What are crypto index baskets?

6. 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.

8. How will Lympid act if an On-chain protocol is hacked?

7. Investing in On-chain protocols bears its risks and Lympid is not responsible for any losses occurring from any event.
8. 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.

9. Can I redeem my funds at any time?

9. Yes, you are free to come and go as you please.

10. Is Lympid authorized to do virtual assets custody and exchange services?

10. Indeed, Lympid has obtained an authorization from FNTT in Lithuania, which lets us perform virtual assets custody and exchange services in line with the applicable regulations.

11. What are LYMPID tokens used for?

11. Lympid 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.

12. I run a Web3 company, can I open an account?

12. Most definitely yes, we are crypto companies friendly. Your company will have access to an vIban a debit card and the cryptoverse. All other traditional activities are welcome.