Lemon Protocol

Lemon Protocol is bridging traditional and decentralized finance to deliver an innovative fintech solution that native Africans can understand and utilize.

Comment 1

Inspiration

Lemon Protocol was inspired by mainly by the rotational lending and borrowing schemes predominant in sub-saharan Africa, popularly known as Ajo or Esusu. We also integrated Liquid staking to improve stability and increase TVL on Lisk Blockchain

What it does

Lemon protocol provides yields on staked tokens while still allowing the user access to instant liquidity. Users can maximize their yields in the vault by taken turns to claim yields based on the pool size rather than their individual stakes.

How we built it

By combining several traditional, web2 and web3 techniques, we were able to deploy a solution that will be both useful and easy to use. Every African will easily relate to Lemon Protocol

Challenges we ran into

  1. Overall Product Design We wanted the best. It was quite a hurdle coming up with these innovative solutions. After alot of brainstorming within our team, we came up with Lemon Protocol.

  2. Having Control over Pool Creation We knew that if we allowed the pools to be created by anyone, they could be abused. However, we also needed an automatic way to get them created. So, we came up with a helper web2 server for creating the pools. We call it from the frontend at a pre-determined time.

  3. Auto-Rewading Yields in Lemon Vault We wanted to always randomly issue yields to pool entries at the end of every reward interval. So that participants can come in and claim their yields from the vault pools. It was a challenge because smart contracts can't call themselves. We sorted to use cron jobs and Github's is free

Accomplishments that we're proud of

  1. We have successfully delivered the first liquid staking protocol on the Lisk Network, and arguably the first defi product of this kind accross the OP superchain. We are really happy that we could pull it of.

  2. That we created a use case of the liquid derivative (lmETH for Lemon Vault Pools), that is, further rewarding our users for staking their value and trusting in us.

What we learned

we learnt that there is a solution to every problem. And that with the right team and with consistency, you can build anything.

What's next for Lemon Protocol

we will continue to develop our solution on Lisk moving forward. We hope to achieve the highest TVL on Lisk ecosystem in the next few months.

liquidStaking = '0xFf3088f3aa17a8dE578318344e6F1EBBbC6ECF3A'

lemonETHToken = '0x04693eDe72A3e311BbeB1B3cd4070126cb68f097'

lemonVault = '0x792c6a0AaB3F9aB2aA94029EC0A16D77Ce0A5E0a'

ERC20 = '0x55296f69f40ea6d20e478533c15a6b08b654e758'

Built With

Share this project:

Updates