Limestone NetworkNews & Events Limestone Network introduces LIMEX

Limestone Network introduces LIMEX

LIMESTONE NETWORK INTRODUCES LIMEX TO BETTER REFLECT ON-GOING DEMAND FOR SMARTCITIES IN SOUTHEAST ASIA

  • Upgrade of token LIME to LIMEX
  • LIMEX 2,000,000,000 supply to cater to more smart cities
  • LIME tokens will be discontinued and cannot be used for transactions going forward
  • Issuance of LIMEX tokens to Limestone Network’s respective partners to commence from mid-July 2020 onwards
  • Channel Sales partners to receive full supply to facilitate swapping of tokens for existing holders
  • Existing Token Holders are entitled to a one to one token swap (for the avoidance of doubt, 1LIME = 1LIMEX)

According to Navigant Research, global Smartcity revenue is expected to increase from US$36.8 billion in 2016 to US$88.7 billion by 2025. The Smartcity market size is also estimated to grow to US$758 billion by 2020, presenting a burgeoning market opportunity for both local and global businesses looking to contribute to the growth.

Limestone Network has received enquiries from other countries in the SEA region about implementing Smartcities similar to the pilot project in Cambodia. With that in mind, Limestone Network is planning ahead by expanding the number of minted tokens to prepare for this growing demand. For clarity, the number of new tokens that will be in circulation will remain the same as the current LIME tokens in circulation.

The newly minted tokens will be named LIMEX, pronounced LIME X, and will replace LIME tokens. A total consideration of 2,000,000,000 will be minted. The issuance of LIMEX tokens to Limestone Network’s respective partners will commence from mid-July 2020 onwards and existing Token Holders are entitled to a one to one token swap (for the avoidance of doubt, 1LIME = 1LIMEX). Existing Token Holders are encouraged to contact your respective sales representatives for the token swap. Kindly note that LIME tokens will no longer be functional and cannot be used for any transactions going forward.

We would like to extend our continued gratitude and appreciation to our existing Token Holders and our partners in believing in the future of cities and working with us to bring the Limestone Network project to fruition!