LYO Credit (LYO)

LYO token has been circulating in the crypto markets since 2022. With an ever-increasing demand for LYO credit, you might be curious about what it has to offer.

So, here is everything you need to learn. In this guide, we will provide you with an overview of the token, its mechanism, tokenomics, and its benefits.

You will also learn how to stake and buy LYO, along with its future prospects. So, without any further ado, let’s begin!

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What is LYO Credit (LYO)?

LYO Credit is a utility token that is designed to work in the LYOPAY ecosystem. It was launched in March 2022 on the Binance Smartchain Network.

So, it is established on the BEP-20 network rather than the ERC-20. You can use LYO Credit to conduct online purchases, buy or sell the token, or stake it to earn passive income.

Origin and History

The crypto token aims to connect retailers and consumers so they can conveniently perform transactions at a faster rate. However, the main concept behind this token is to connect LYOPAY with the blockchain ecosystem and provide LYO users with a crypto coin that they can use within the platform. So, to address this shortcoming, Lyoto Machida (founder) started a token named LYO Credit.

Mission and Vision

The parent company, LYOPAY, aims to provide a seamless and smooth operation for its users so they can enjoy easy transactions and trading. Their vision is to give people a platform where they can convert fiat into crypto (and vice versa) without any hassle.

How Does LYO Credit Work?

People can use LYO Credit for several purposes. The crypto token offers discounts on transaction fees for multiple actions, such as trading, e-commerce purchases, card payments, crowdfunding, and many more.

Core Technology

The token is established on the Binance BNB Chain. The Binance Smart Contracts Blockchain gives tokens the flexibility and versatility that their users require.

On the BSC blockchain, LYO uses the specific BEP-20 protocol for its structure and operations.

Why BEP-20?

Various factors contribute to the usage of the BEP-20 protocol that are listed below:

• The protocol’s nature and structure are easy to understand and work with. So, developers can quickly and conveniently work on the token and perform its maintenance.
• It is less complex, which eliminates the hassle and confusion of removing any bug or error.
• As more and more users enter the ecosystem and invest in the token, it will further increase the liquidity, drastically lowering the risks of broken contracts.
• The protocol is reliable and commonly accepted worldwide. So its users won’t face any compatibility issues or unsupported network errors.

LYOPAY Ecosystem

LYOPAY Ecosystem is a collection of different services where you can use LYO Credit for fee discounts and other benefits.

It includes payments and other financial transactions, trading, and platform as a service (PaaS). These are further divided into sub-products and sub-services, all utilizing the native token (LYO).

Tokenomics

The total supply of LYO Credit is 250 million tokens. Out of those, almost 191 million tokens are in the current circulation supply. The token name is also LYO, which is available on multiple crypto exchanges for purchasing.

Initial Coin Offering (ICO)

The initial coin offering (ICO) phase started in July 2021, when a maximum of 30 million tokens were distributed among users. It happened in six sub-phases (including a pre-ICO phase). The distributed coins are as follows:

• Pre-ICO – 2.5 million
• Phase 1 – 5 million
• Phase 2 – 5 million
• Phase 3 – 5 million
• Phase 4 – 5 million
• Phase 5 – 7.5 million

Token Distribution

A large portion of LYO Credit is designated for minting and social mining. While the team and advisor will get the lowest percentage. Here is the total distribution of 250 million LYO tokens:

• Minting & Social Mining – 48%
• Treasury – 14%
• ICO – 12%
• Rewards – 8%
• Airdrops – 8%
• Yield Farming – 5%
• Team – 3%
• Advisor – 2%

23.6% of the 48% assigned to minting and mining is reserved for burning. However, the burning mechanism has not been introduced yet.

Role of LYO Token

LYO token is usable for multiple purposes. Some of the most significant are mentioned below:

Staking and Earn Rewards

You can stake LYO Credit to earn a passive income. The minimum limit of staked LYO is 50 tokens, while the maximum limit is 100,000. On the other hand, the users can lock their LYO from 3 months to two years. Interestingly, they can also compound their assets to stack the rewards up to 36% annually.

Buy and Sell Products and Services

LYO Credit also allows you to use the crypto token as regular currency.

So, you can buy or sell different products or services. For example, you can book your flight tickets or hotel rooms with the tokens. Moreover, some restaurants are even accepting payments in LYO.

Trade for Other Cryptocurrencies

After all, you can easily trade your LYO tokens for other cryptocurrencies. It becomes even more beneficial since LYO allows staking. So, you can lock your tokens for some time and convert them into another cryptocurrency when the tokens are increased. Briefly, you are staking the other tokens indirectly (before trading).

Pay Transaction Fees

Lastly, you can also pay your transaction fees at low costs. If you purchase items or transact payments through this token, you can have transactions up to 100% of the total cost (no transfer fee) under certain conditions.

How to Stake LYO Credit

Since now you know that you can stake LYO tokens for passive earning, you want to learn about the process. You can stake LYO at LYOTRADE. There, you get several projects with different lockup periods and annual returns. LYOTRADE also allows you to lock Tether (USDT), but we’ll discuss LYO here only.

1. Visit LYOTRADE and create an account.
2. Complete the KYC verification.
3. Deposit LYO tokens on the platform.
4. Select a project that piques your interest.
5. Enter the amount you want to lock, and click Stake.

How to Buy LYO Credit on BitMart

After understanding the potential passive income solution and its various aspects, you might be interested in buying LYO Credit. Although several platforms are offering you to purchase the token, the best shot will be BitMart.

What is BitMart?

BitMart is a cryptocurrency exchange and trading platform that features more than 1,000 crypto coins. LYO is one of them. The exchange is well-recognized due to its high staking interest and NFT marketplace. Also, since it is beginner-friendly, the platform is great if you are new in this field.

Setting Up a BitMart Account

Before you buy LYO, you will need to create and set up an account on BitMart. If you don’t have an account, follow the steps below:

1. Click on the link below to begin registering with BitMart.
2. You can either register through your Email address or Phone number. Fill in the preferred option and create a strong Password.
3. Complete a quick puzzle to verify yourself as a human.
4. You will receive an OTP via message or email. Enter the OTP on the next screen.
5. It will automatically verify your email or phone number and redirect you to the home screen.

Verifying Your Identity

After you create the BitMart account, you will need to complete the KYC verification. Otherwise, you cannot buy LYO on the platform. The process is as follows:

1. On the homepage, click on your Username and select Account.
2. In the Account Level, click Details, then Verify Now.
3. Fill in the form with Basic Information and click Continue. It will complete your Starter Verification.
4. Next, select Verify Now under Advanced Verification. It will present you with a QR code.
5. Scan the QR code, and select your country on the next page.
6. Upload the required documents for Identity Verification, and click Continue.
7. Take a Selfie for face verification.
8. Now, you will need to wait until your account is verified, which will be completed within a day.

Depositing Funds into BitMart

After your account is verified, you can easily purchase, trade, and withdraw LYO on BitMart. But first, you will need to deposit some funds to buy LYO Credit.

Unfortunately, the platform doesn’t allow you to deposit fiat on the platform. So, you will need to add other crypto tokens and then buy from those coins.

1. Go to your username at the top right corner and select Deposit.
2. Search the Crypto Coin (for example, Tether), and click on the deposit button next to it.
3. Select your token’s Network.
4. Copy the Address and paste it into the platform from where you are withdrawing funds.
5. Click Withdraw from that platform. Your funds will be transferred after some time.

Navigating to the Market

Once you deposit the funds, you can hover around the currency option and find LYO listed on the platform. Click on it, and you’ll be navigated to a buy/sell page of LYO token.

Making the Purchase

When you have enough funds in your account, it’s time to purchase LYO Credit on BitMart. Here’s how you can do it:

1. Log in to your account and click on Buy & Sell at the top left corner.
2. Select the Currency you want to spend in the first section. Then select LYO in the next section to receive the token.
3. Choose a Provider. It will automatically update the transaction details on the right panel.
4. Click Buy LYO and verify your purchase. You will receive the crypto token in your digital wallet after a while.

Withdraw and Store in Personal Wallet

Your purchased LYO Credit will be stored in your BitMart native wallet. However, you can also withdraw the tokens to another digital wallet in no time. The process is quick and simple, as mentioned below:

1. Log in to your BitMart account. Go to your username and click Withdraw.
2. Select the LYO from the dropdown menu, and choose its network, BEP-20. Ensure you select the right options. Otherwise, your funds will be lost permanently.
3. Copy the Deposit Address of the digital wallet where you want to send your LYO tokens. Paste it under the withdrawal address box.
4. Enter the Amount of LYO you want to send and click Withdraw.
5. Enter the codes for verification. Your funds will be transferred after some time.

Future of LYO Credit

Since LYO Credit was created for the LYOPAY ecosystem, it has a promising future. The LYOPAY users will have to invest in the token to get the amazing benefits of the ecosystem. So you can easily invest in the token. On the other hand, the platform is also planning several other functions and integrations to make the token better.

First, the company will soon introduce the burning. In fact, 23.6% of the tokens are already reserved for this process.

So, when the burning will start, it will soon increase the token’s value.

The token will also get a PancakeSwap listing in the future and the integration of Klever Wallet and Trust Wallet.

Conclusion

LYO Credit is a versatile token that allows users to get several benefits in the LYOPAY ecosystem. It offers low transaction fees and enables them to purchase products or services like regular currencies. Moreover, they can also stake the token for rewards and then trade it with other crypto coins.

And since the token has a promising future, it may be worthwhile to invest in it. However, this is not financial advice, as the crypto market is volatile. So, you will invest in the token at your own risk. But if you want to do so, LYO may be safe to invest in.

We Coin-Labs.com provides only objective information about LYO Credit (LYO).
Therefore, we are not responsible for the investment decision in LYO Credit (LYO) and the resulting loss.

LYO Credit (LYO) Basics

Here are some factors that investors should consider before investing in LYO Credit (LYO).

Cryptocurrency Features	LYO Credit (LYO) (LYO)
Publisher or Developers	Lyoto Machida
Headquarters (Registration Number)
Symbol	LYO
Platform	BNB Smart Chain
Published Date (CMC Registration)	2024-05-22
Max Supply	250,000,000 LYO

Reliability Score of LYO Credit (LYO) in 2024

These are indexes mesuring the investment reliability of LYO Credit (LYO) conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 0 Exchanges
Number of Available Pairs Worldwide	12 Pairs
Market Cap of the Cryptocurrency	0 USD (Rank #0)

The table above shows the result of investment suitability evaluation for LYO Credit (LYO).
Check out how we evaluate cryptocurrencies on the crypto rating description page.

LYO Credit (LYO) Price

Here are the price and recent trading volume of LYO Credit (LYO). (Data of 2024-05-22 10:16:00)

Price Items	Price and Trading Volume of LYO Credit (LYO)
LYO Credit (LYO) Price	1.140 USD
Price Change 24h	0.00%
Price Change 7d	-0.01%
Trading Volume 24h	0 USD
Trading Volume Change 24h	0.00%

Cryptocurrency Metadata

You can check the development status and social media information of LYO Credit (LYO) through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy LYO Credit (LYO)

Here are the top ten world crypto exchanges where traders can buy LYO Credit (LYO) in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Not listed
Coinbase	Not listed
Kraken	Not listed
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Not listed
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Not listed

Frequently Asked Questions