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Most of more than 100 interactive commands that lispy provides are bound to a-z and A-Z in lispy-mode. You can see the full command reference with many examples here.
The advantage of short bindings is that you are more likely to use them. As you use them more, you learn how to combine them, increasing your editing efficiency.
To further facilitate building complex commands from smaller commands, lispy-mode binds digit-argument to 0-9. For example, you can mark the third element of the list with 3m. You can then mark third through fifth element (three total) with 2> or >>. You can then move the selection to the last three elements of the list with 99j.
If you are currently using Paredit, note that lispy-mode and paredit-mode can actually coexist with very few conflicts, although there would be some redundancy.
vi is a modal editor: it operates in either insert mode (where typed text becomes part of the document) or normal mode (where keystrokes are interpreted as commands that control the edit session). For example, typing i while in normal mode switches the editor to insert mode, but typing i again at this point places an "i" character in the document. From insert mode, pressing ESC switches the editor back to normal mode.
