With the rise of DeFi, there has been a large gap between legacy financial systems and “DeFi” protocols. Lympid, a Portugal based company, is making waves in the industry
by simplifying access to decentralized finance for everyone, regardless of their technical knowledge.
Established to serve EEA consumers, Lympid simplifies the process of going from Euros to interacting with decentralized protocols or accessing assets on decentralized exchanges.
“Traditional web3 apps are built with the tech-savvy in mind. From managing keys to auditing contracts, and navigating complex cross-chain processes – the learning curve can be steep,” stated João Lages. “We envision a much simpler way to access DeFi, one as easy as buying stocks with your idle funds.”
How Lympid leveraged Striga’s APIs to bridge the gap between smart contracts and Euros
The search for the right partner is complicated by the plethora of fragmented services available today. Some that focus on fiat experiences with a strong anti-crypto thesis and some purpose-built crypto on/off ramp widgets, with no seamless method of linking both sets of potential partners. A hastily stitched application, merging fiat services from
“Embedded Finance” companies and digital asset services from “On/Off Ramp Widgets”, often leads to an incoherent user experience with exorbitant fees paid by the user (Imagine 4%+ for a simple trade!).
“It was clear that we needed a compliant but single solution” Lages commented. “We were able to craft a user experience that allows interactions with smart contracts starting from Euros, with a simple sequence of API calls, thanks to Striga.”
Striga’s APIs were the native solution that Lympid embedded deep in their application. In an industry where compliance is critical, Striga’s solutions addressed all of Lympid’s needs: compliant user onboarding, fiat/crypto conversion, trading/custody infrastructure, and the ability to call smart contract functions. Instead of spending over €1M and at least two years on in-house development before onboarding a single user, Lympid was able to go live with their MVP in January 2023, less than two months from first contact with Striga!
Crypto and banking infrastructure for the masses
Since Lympid’s initial release in January, the platform is steadily growing and gaining trust amongst the broader crypto community in Portugal. Try it out at app.lympid.io
“Striga’s APIs for crypto and banking infrastructure gave us the tools we needed to build & launch fast, giving us the much needed room to focus on delivering a stellar user experience” says João. Striga and Lympid continue to problem solve and develop improvements and new features based on user demand and feedback, available globally across the Striga platform.