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.