The biggest feature of Tokenlon 5.0 is that it has access to other liquidity sources, such as DEX in the automatic market maker (AMM) mode, in the original counter quotation mode.
Written by: Tokenlon
Tokenlon originated as a project code in 2017, and launched its first version in April 2018, bringing safe and convenient currency exchange services to decentralized wallet users. While the team is committed to realizing decentralized wallet transactions, it also expects that the liquidity it builds can become a payment and settlement infrastructure in an open financial ecosystem. Therefore, we always position Tokenlon as a decentralized transaction payment settlement protocol based on the blockchain network.
Along the way, Tokenlon has achieved impressive results in decentralized transactions. Only the Tokenlon 4.0 version, which went online in July 2019, has helped more than 128,000 users complete a cumulative transaction volume of US$4.6 billion. The number of users contributing to ecology is second only to Uniswap and Compound.
Our original intention has not changed. We will continue to promote the development of Tokenlon around the goal of becoming an open financial infrastructure. We look forward to building this vision with the community and believe that broader community participation is essential. LON, Tokenlon’s application token, will be the most important medium in this process.
We are very happy to share Tokenlon Litepaper with you and announce that the Tokenlon 5.0 Beta version will be launched soon.
Litepaper contains the core team’s positioning, expectations, system architecture, token usage, economic mechanism, governance, and roadmap for the next few years of Tokenlon. We hope this Litepaper can be a new starting point for Tokenlon, and we look forward to working with all participants in the ecosystem to create your own Tokenlon.
Tokenon 5.0
Tokenlon 5.0 brings you a brand-new trading experience. By aggregating multiple liquidity sources, the Tokenlon protocol can help you find the best intelligence among RFQ market makers, Uniswap, Curve and other on-chain market makers Trade offer. You will be able to trade richer assets through Tokenlon in the wallet, get more competitive prices and better transaction depth.
The biggest feature of Tokenlon 5.0 is that on the basis of the original over-the-counter quotation (RFQ) model, it has access to other liquidity sources, such as DEX in the automatic market maker (AMM) model. Users can interact with multiple DEXs and initiate transactions in one stop through Tokenlon, enjoying better exchange rates, depth and richer trading currencies. For example, the exchange limit between stable currencies has been increased to US$1 million per transaction, and new currencies such as DPI, FARM, and REN have also been connected.
By accessing the liquidity of Uniswap and Curve, the Tokenlon protocol can automatically search for the best one among market makers on the RFQ, Uniswap, Curve and other chains through professional algorithms while ensuring the success rate of orders. Exchange path and quotation.
When your exchange needs to be routed to Uniswap or Curve, the exchange page will display the minimum amount of tokens available under the current slippage setting, and an estimated amount will be reported at the same time. For transactions conducted through the AMM route, the amount obtained by exchange will not be lower than the minimum exchange value and will be close to the estimated amount.
In addition, we have added more functions to the redemption page. Click the “gear” button on the transaction page to set the “recipient” and “price slippage”. The default slippage is 1%, the minimum is 0.5%, and the maximum is 3%.
At the same time, we will start the circulation of LON at 0:00 UTC on December 23, 2020 and list LON trading pairs on Tokenlon. Users and market makers who participated in the previous LON creation mining will be able to receive nearly 15,000,000 LON through the claim contract (the market maker has a lock-up requirement). The next stage of LON transaction mining is expected to be online in the first quarter of 2021, such as the same pledge, repurchase and other functions.
LON: Early supporters give back
In order to thank and give back to the supporters who contributed to Tokenlon in the early days, more than 330,000 eligible addresses can also receive nearly 15,000,000 LON rewards through the claim contract.
Claim conditions
Tokenlon users
A total of about 6.86 million LONs were used to give back to Tokenlon users. Addresses that meet any of the following conditions can receive LON rewards, covering nearly 140,000 addresses:
- The address where transactions were conducted on Tokenlon before the creation of mining
- In Genesis Mining, an address that has been traded or recommended for successful activation in Tokenlon
- The addresses that have participated in the pre-governance of the Tokenlon community through Snapshot voting
imToken user
A total of about 6.94 million LONs were used to repay imToken and its users. As the incubator and important user portal of Tokenlon, imToken has made a great contribution to the achievements of Tokenlon. Therefore, this part of LON has been allocated to imToken early and loyal users according to the wishes of the imToken team, covering nearly 250,000 addresses.
imToken users can check whether they meet the claim conditions by checking the claimable quantity.
Reward reserve
The remaining approximately 1.2 million LON is reserved for repaying other community members and third parties who have contributed to Tokenlon, including: early market maker partners, early DEX partners, third-party technical consultants, white paper consultants, legal consultants, and community volunteers , Translators, evangelists, communities, and media.
If your wallet address meets multiple conditions at the same time, the available LON will be accumulated.
Claim time
The LON claim will be officially opened on 2020.12.23 8:00 AM (UTC+8).
LON liquidity mining
In order to encourage the community to provide liquidity for LON, we will start the liquidity incentive plan at 0:00 UTC on December 24. In the first phase of the liquidity incentive plan, users who provide liquidity to the LON/ETH pool on Uniswap from 0:00 UTC on December 24, 2020 to 0:00 UTC on January 21, 2021, will be able to share 1,500,000 according to their contribution LON awards.
The launch of Tokenlon 5.0 Beta and LON is not only the most important milestone since the launch of Tokenlon, but also the beginning of Tokenlon’s decentralized community governance. We look forward to seeing you on the next journey of Tokenlon.
Important risk warning
- The LON contract address is: 0x0000000000095413afC295d19EDeb1Ad7B71c952, beware of scams
- LON has no fundraising, no token sale, everyone can participate in mining without any threshold and get it for free
Please get the latest information through Tokenlon official channels .
