Meet Lympid: Bridging the Gap in CeDeFi - Seamless Access to the DeFi Ecosystem
DeFi, simplified
DeFi's complexity can deter many potential users. For Web3 to break into the mainstream, user-friendly experiences are non-negotiable. It's not enough to have a sturdy product; users crave simplicity. They want a platform that handles their financial transactions swiftly and efficiently. Ease of use matters greatly and Chainlink BUILD partner Lympid focuses on that.
The problem at hand
So far, Web3 enthusiasts depend on third-party wallets to interact with a myriad of dApps.This reliance complicates the process, introducing several cumbersome steps before a transaction can be finalized. It's not exactly the most inviting introduction to Web3.
Introducing Lympid
Lympid addresses this pain point. When users create a Lympid account, they receive both a Web3 wallet and an IBAN (International Bank Account Number). This means funds can be transferred via conventional bank transfers to the Lympid account, enabling deployment into Web3 protocols and beyond. What sets Lympid apart? It extends access to traditional financial products that other Web3 platforms often overlook.
Directly from EUR, users can purchase US Treasury Bills, currently yielding around 4.5%. This is made possible by offering a tokenized version of the US T-Bills, showcasing the exciting possibilities of tokenizing real-world assets.
Moreover, Lympid offers a staking feature. Within their account, users can store fiat and crypto. From EUR, Lympid facilitates direct conversions to ETH and BNB, capitalizing on staking and protocol validation rewards.
In essence, Lympid serves as:
Crypto on-and-off-ramp
Web3 wallet
Bank account
A platform for purchasing US Treasury Bills
A hub for asset yield generation
And there's even more on the horizon…
Prioritising user experience
A plethora of products won't appeal to users if the platform isn't intuitive. Onboarding with Lympid is designed to be a breeze, side-stepping the usual intricacies of setting up a Web3 wallet. When you create an account, you're given a wallet and an IBAN—no need to deal with seed phrases. Lympid's interface mirrors the familiarity of digital and neo-banks, ensuring users feel right at home.
Unwavering security
In the spirit of Web3, don’t trust, verify. Lympid anchors its services in transparency. User assets are safeguarded under European Licensed Banks (for EUR) and regulated custodians like Fireblocks for digital assets. Unlike some centralized platforms, Lympid dedicates a unique wallet to each user, ensuring individualized verification of funds through blockchain explorer addresses. Complying with European regulations, Lympid requires some KYC to comply with European regulations in order to offer their products.
How is Chainlink used?
Lympid leverages Chainlink's price feeds for token price monitoring. In addition, Lympid joined the Chainlink BUILD program on June 22, 2023, to get the most out of the benefits of security and reliability that Chainlink’s oracle infrastructure provides.
Meet the team at Lympid
Lympid's team comprises seasoned professionals from traditional finance, financial law, and fintech startups. Their multidisciplinary expertise ensures that the platform is comprehensive, adeptly bridging the crypto and traditional finance realms.
Conclusion
Lympid offers his type of simplified Web3 platform to attract traditional Web2 users who find the current Web3 experience too overwhelming. Ease of use matters a lot, even if the capability was there before, not being able to cater that capability to a broad audience has been the barrier to crypto’s mass adoption. Platforms such as Lympid will help bridge Web2 users to Web3 by providing a seamless transition.
