The Lemonade Crypto Climate Coalition launched in March 2022 to provide subsistence farmers with the ability to easily and effectively sign up for at-cost parametric crop insurance. The Lemonade Crypto Climate Coalition was formed by the Lemonade Foundation alongside founding members including Avalanche, Chainlink, DAOstack, Etherisc, Hannover Re, and Pula.

Farmers are able to sign up for a policy, make, and receive payments from their phone, much as they do for banking and payments today, which then produces a smart contract hosted on the blockchain. Following the end of a growing season, parametric area yield data is sent on-chain to the application’s smart contracts and, if weather conditions were bad and crops failed, triggers an instant payout to farmers.