We have evolved! When we came up with the Lemon Network project we decided to create it on the Energy Web Chain Network as it provides many advantages such as sustainability, it allows Lemonade to be the 2nd DEX in that network and the fees are quite low for such a potentially scalable project as Lemonnet platform.
We continue to believe that it is a network with a lot of potential and thanks to that we are launching Lemonade DeFi today. However, we have a commitment with our investors to grow the Lemon Network ecosystem and thanks to some partnerships that have been proposed to us we decided to migrate our entire ecosystem to the Polkadot network.
Polkadot has a market cap of 15,906,906,406,405.96 and has a community of over 2 million people.
We are going to a more robust blockchain composed of a main blockchain that is in charge of network consensus and connecting to other blockchains developed to perform specific functions called Parachains; parallel, customizable blockchain networks that form the Polkadot network
Lemon projects will be developed on Polkadot’s Parachain, we are currently defining the ones that will be chosen that meet all the conditions of our platforms, as we told you before each of these Parachains fulfill specific functions in the network.
In the case of Lemonade DeFi, our first option is to migrate to Moonbeam.
Energy Web Chain and its partnership with Polkadot
Parity Technologies, a leading Web3 software development company, and Energy Web, the non-profit organization that builds operating systems for decarbonized energy grids. The two companies announced plans a few months ago to launch a Relay Chain consortium at Energy Web that connects Energy Web to the broader ecosystem of Substrate, Polkadot and Kusama. The new Chain will leverage Substrate to enable companies in the energy sector to run sovereign, customizable blockchains of their own or in partnership with other energy market participants.
Lemon Network Migration
The migration will be developed in phases in order to make the transition effective as soon as possible taking into account the management involved in order to affect the user and the overall project positively. The first phase of this migration will be to change the Lemon token (LMN) from the Energy Web Chain to Lemon (LMN) in the Polkadot network, in a few weeks we will inform you how you can migrate your tokens and the additional profitability you will get with this change. However, you will continue to count on Lemonade’s services in the EWC, soon we will publish an article with all the options you have to continue to HOLD the LMNs, keep in mind that this change favors their value.
What happens if I don’t exchange my LMNs? What happens if your tokens are in the vault until January 2023? All this and more we will answer shortly, for now, you can trade Lemonade DeFi.
What will happen with Lemonade on the Energy Web Chain?
Lemonade will continue to operate on the Energy Web Chain until the project and tokens are fully migrated to the new network, this is a process that will take months. We ask for your trust and patience, we have a team of Advisors and a team of professionals who are guiding us every step of the way.
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