Tokenlon (LON)
Tokenlon is a decentralized exchange (DEX) and payment settlement protocol powered by the 0x Protocol. It was initially developed by the imToken team in April 2018.
Overview
Tokenlon was launched in 2018, offering two decentralized trading options within the imToken wallet. On July 31, 2019, Tokenlon transitioned into an independent DEX, distinct from its earlier integration with the Kyber Network. The platform now operates on the 0x Protocol. Tokenlon uses a request for quotation (RFQ) methodology, similar to trading with an automated over-the-counter (OTC) desk. Users request quotes for transactions, such as selling ETH for USDC, and receive cryptographically signed quotations from market makers.
| Ticker | LON |
| Category | Decentralized Exchange (DEX) |
| Website | https://tokenlon.im/ |
| @tokenlon | |
| Contract Addresses | |
|---|---|
| ethereum | 0x00...52 Copied! |
| arbitrum-one | 0x55...a3Copied! |
Roadmap
2020 - Genesis mining
Tokenlon established a reward system to motivate traders, referrers, and market makers. It included a distribution of 30 million genesis LON tokens to early contributors in the community.
2021 - Tokenomics
Tokenlon released its 5.0 version, initiating ongoing community incentive programs, liquidity pool incentives, and introducing mechanisms like buyback and staking. The aim was to enhance the LON economic model and make LON a driving force in the Tokenlon network.
2021-2022 - Community governance bootstrap
Tokenlon introduced a governance module based on LON, enabling minimal governance and gradually opening up economic parameters and decision-making to the community. The goal was to evolve into a decentralized autonomous organization.
2022 - Open network
Tokenlon aimed to establish a P2P relay network, allowing external developers to become relayers and create a liquidity network. A permissionless strategy platform was planned for liquidity providers to design and deploy trading strategies.
2023 - Cross-chain channel
Tokenlon began building cross-chain channels to support atomic settlement of cross-chain transactions. This initiative aimed to expand decentralized liquidity into real-life applications like payment services.
Tokenlon 5.0
In December 2020, Tokenlon released its upgraded version, Tokenlon 5.0. The update offered benefits such as trading fee discounts, trade mining rewards, staking, and buybacks for LON token holders. The 5.0 version also expanded the number of tokens available for trading, integrating with platforms like Uniswap and Curve.
LON token
LON is a utility token issued by Tokenlon, designed to align ecosystem participants and incentivize ecosystem expansion.
Use cases
- Fee discount: Holding LON provides users with transaction fee discounts.
- Governance: LON holders can participate in Tokenlon's governance, proposing and voting on improvements and economic parameters.
LON distribution
The total supply of LON is capped at 200 million, with 130 million allocated to the community through the LON Network Incentive Plan (LIP). The remaining tokens are distributed among the core team, stakeholders, and development reserves, with a vesting schedule over two years.
LON mining
The LIP distribution plan concluded with genesis mining from September 26, 2020, to December 20, 2020, split into two stages. A liquidity incentive plan followed, encouraging community participation in liquidity pools, with incentives provided for staking LP tokens.
Governance
Tokenlon's governance process is structured to gradually transfer decision-making power to the community. Initial stages involve off-chain voting through Snapshot, with plans for the development and announcement of governance contracts.