The first question on everyone’s lips these days when confronted with Harmony is: ‘Why do we need another high-throughput scaling solution?’ The answer — as it always should be — is to better facilitate the development and adoption of a fully decentralised internet. Harmony is designed to afford new developers a best-in-class solution for deploying applications and to attract existing ones faced with insurmountable bottlenecks on their current platform.
Speed governs everything we do, from protocol to execution to adoption. We raced from formation to mainnet in just 12 months. And just a few short months on we are proud to announce the first project migrating to Harmony from Ethereum —
Please welcome LYMPO to the Harmony family.
What is Lympo?
The Lympo app, which rewards people for healthy lifestyle actions like walking or running, is available in the U.S. and South Korea. With benefits to both users and brands, Lympo offers a unique gamified solution to build a healthy diet and exercise habits.
The native token LYM incentivises users by rewarding them for completing pre-defined trackable health goals. Long term Lympo plans to build an entire fitness and health data marketplace rewarding users for sharing data with insurers, marketers and other data consumers, powering more intelligent healthcare systems.
Recently, Lympo has been added as one of the first DApps to the Samsung Blockchain Wallet available on Galaxy Note 10.
Since their ICO in Feb 2018 the project has grown rapidly attracting interest from not only Samsung but also the Dallas Mavericks (owned by Mark Cuban) who both saw enough potential in the project to become partners.
- 260k lifetime users
- 89,000 monthly active users.
- Transactions per second — 1 tx/sec
- Token market cap — $6m
The Digital Health market was valued at USD 86.4 billion in 2018 and is expected to see 29.6% compound annual growth from 2019 to 2025. Over 60% of smartphone users worldwide have at least one healthy lifestyle apps. According to Accenture, US consumer wearable usage skyrocketed from 9% in 2014 to 33% in 2018.
In the future, Lympo users will be able to get paid for sharing their healthy lifestyle data with businesses, healthcare providers, fitness trainers or family members. Until now all this valuable data has been in the hands of the app and wearable operators adding no additional benefits to consumers like money rewards or data-based healthy lifestyle advice.
No wonder the team decided now was the time to migrate to a blockchain partner capable of handling such dynamic growth.
Harmony’s fully-sharded high-throughput blockchain is perfectly suited to handling the needs of a dynamic rapidly-growing project like Lympo. With low fees and fast finality they can approach the next phase of business growth confident their platform can meet the demands of exacting clients like Samsung.
We will be migrating Lympo’s tokens to Harmony as well as exploring further ideas around the monetization of data and how it might play a role in Universal Basic Income validating our position as platform of choice for fast-growing projects frustrated by the scaling restrictions on Ethereum and other smart contract platforms.
As the Blockchain for Humans, health and wellbeing naturally figures large in our goal of harnessing technology to expand human potential. Lympo is therefore the perfect partner to showcase the speed and security of the platform and encourage other dApps to migrate to Harmony.
We gain users, genuine transactions and a real world use case while while increasing our Network Value to Token Value (NVTV) ratio by adding $6m of token assets onto our chain. Lympo is guaranteed visibility thanks to its partnership with Samsung and the Dallas Mavericks and alongside our recently announced partnership with Animoca and Quidd issues a powerful statement about Harmony as a blockchain with real-world users and real-world value. This is where the rubber meets the road. Real users, valuable transactions and enterprise clients that demand the best. It’s happened fast but it’s exactly where we’re supposed to be.
“Harmony’s technology will help us to reach Lympo’s vision to reward everyone for building healthy lifestyle habits,” said Lympo CEO Ada Jonuse. “Secure and scalable health data sharing will be possible with Harmony’s blockchain infrastructure targeting millions of new users.”
Harmony’s co-founder Nick White: “We believe that scalability becomes truly meaningful when projects are growing exponentially, as it is in Lympo’s case. We see data sharing as one of the core use cases of Harmony and we believe that with Lympo we can really pave the road for what data sharing looks like on Blockchain.”