# 7.1 Overview of LEMC token LEMC token is a medium for interaction among the participants of LEMONCHAIN ecosystem, and is used for various purposes including incentive for voluntary data input by participants, payment of fees for the use of data, charges for mediation of disputes, payment for provision of services and utilization as collateral to guarantee execution of contract, etc. LEMC token is issued as Klaytn-based KIP-7 token and conversion into other protocol can be considered in accordance with the need to accomplish the road map set thereafter. In such case, LEMC token already issued will be converted into tokens based on the new protocol. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://lemonchain.gitbook.io/lemonchain_whitepaper_v1.9_eng/whitepaper/7.-token-model/7.1-overview-of-lemc-token.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.