LunchMoney, an ERC20 Token Gaining Steady Recognition in the DeFi Space with Projects Started by Black Entrepreneurs
A Practical Crypto Alternative to Yelp; Rewards Diners with Tokens upon Uploading Reviews about their Dining Experience
8th September 2020 – LunchMoney is progressively contributing to the growing list of De-Fi projects and ventures founded and run by black people. LunchMoney’s LMY tokens are rewarded to diners who dine at a particular restaurant and upload reviews about their experience on this platform. This is an excellent alternative to Yelp where people are rewarded for providing reviews. Launched 3 years ago, the token was listed on Uniswap and pivoted to DeFi or Decentralized Financing.
The token is built on an Ethereum Network which gives users access to decentralized financial services and products irrespective of the geographical boundaries. DeFi is a rapidly evolving crypto-ecosystem and LunchMoney is yet another breakthrough platform where liquidity finds flexibility. “We listed LMY on Uniswap to provide instant liquidity for our holders and users”, says Varnado, Co-founder of LMY.
This ERC-20 token has been listed on various exchanges in the past few weeks. This exposure to several exchanges allows it to reach a broader community of crypto investors. “We see LunchMoney as a hybrid mix between DeFi and CeFi. It’s ‘decentralized’, as in the tech, and token, and ‘CeFi’, as in there is a governing body behind the project that makes decisions”, says Triplett, the co-founder of LMY.
The black entrepreneurs have long been in the blockchain space. In recent years, these entrepreneurs have contributed immensely through their many projects and provided great value to the unbanked. “Being a black entrepreneur in the DeFi/Crypto space has had its challenges. I think the difficulties we run across are people actually taking us seriously as a company due to either a lack of technical knowledge or the funding needed in this space to make a real impact” says Triplett.
The LMY tokens can be traded as they are listed on SouthXchange, SwitchDex, Birake Network and other exchanges. LunchMoney now aims to be integrated into payment systems, POS hardware and ATMs thereby allowing it to be exposed to a massive crypto user space.
LunchMoney founded in 2017 by Adrian Triplett and Jeffrey Varnado, is an ERC20 token built on the Ethereum Blockchain to swap lunch money with other digital currencies.