Building on Polygon will enable Lemon’s more than 1.8 million users to easily and cost-effectively access major players in the DeFi, NFT and gaming markets through the integration of the Polygon network into the app.
April 23.- Lemon, the leading crypto wallet in Argentina will be building on Polygon, the high-performance blockchain that has gained popularity in the community for its scalability, to make its ecosystem available through the app and explore new cutting-edge solutions of scalability on Polygon Supernets. The objective is to simplify the user experience in the Web3 ecosystem and boost the adoption of crypto in Latam.
Since August 2022, Lemon has been relying on Polygon technology by enabling over half a million NFT mints on top of it. The Lemon nation collection are avatars provided as a digital ID to users, hosted on the Polygon blockchain, and can be created directly from the Lemon app by logging in and shared through the lemon.me profile. This is the first step towards educating Lemon’s user base around the marketplace and the concept of NFT’s. Post its success they plan to get into more deep integrations like making them tradable.
“The Lemon Nation project on Polygon represents 6.5% of the total NFT addresses on the market. This means that there are more than 540.000 users/wallets ready to use the next level of products in web3. The challenge is to keep it simple”, says Marcelo Cavazzoli, CEO of Lemon.
In addition to enabling easy and cost-effective access to major players in the DeFi, NFT and gaming markets on Polygon, Lemon plans to expand its portfolio of decentralized protocols on Lemon Earn, its solution that generates weekly crypto-earnings, and create new staking-based solutions with competitive returns during 2023.
Polygon has proven to be a strategic solution for major crypto ecosystem projects looking to scale and reach a more mainstream audience. It offers a layer 2 design solving congestion challenges, operational costs and faster, cheaper and more secure transactions for both developers and users. Most interestingly, it is highly compatible with Ethereum, allowing for easy cross-network integration and migration of projects such as apps or tokens that wish to reach new audiences.
“We’re thrilled that Lemon is building on Polygon to empower Latin American users with on-chain crypto solutions. This deployment not only showcases the potential of Polygon’s scalable and interoperable infrastructure but aligns with Polygon Labs and Lemon’s mission to drive mainstream adoption of Web3 in LatAm. We look forward to Lemon enabling millions of users to seamlessly access DeFi, NFT, and gaming markets while fostering innovation in the space.”–Aishwary Gupta, Head of FinTech at Polygon Labs
Polygon Labs has been helping to drive mainstream adoption of Web3 for years. Its team has worked with some of the world’s biggest companies to build on Polygon, including Adobe, Reddit, NuBank and Robinhood.
Lemon (lemon.me) is one of the fastest growing crypto fintech startups in the region born in Argentina. Its goal is to be a bridge to the future of money and internet, with special focus on the interoperability between Web 2 and Web 3. Its main product is a virtual wallet that integrates operations of the traditional financial system with cryptocurrencies, send and receive local money and get weekly crypto earnings. In addition, it has its VISA Lemon Card, an international prepaid card that can be used at any merchant in the world that accepts VISA payments and for each purchase returns a % cashback in Bitcoin. Founded in 2019 by Marcelo Cavazzoli, the startup already has offices in Argentina and Brazil, developing its business plan for the entire region. During 2021 it raised a Series A financing of $16.3 million led by Kingsway Capital and supported by renowned investors such as Draper Associates and CoinBase Ventures. In 2022 it received an extension of the round for an additional $27.8 million thanks to investors such as DST Global, Valor Capital, GoodWater Capital, CMT Digital, Cadenza, among others. This resulted in a Series A of US$44.1 million, one of the largest raised by an Argentine fintech. Today it is positioned as one of the most promising crypto companies in the region and one of the few that have managed to exceed one million users in 2022.
About Polygon Labs
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding unique addresses exceeding 211 million, over 1.12 million smart contracts created and 2.36 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
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