What is Tokenlon Network Token (LON) | What is LON token

What Is Tokenlon Network Token (LON)?

LON is a utility token that aligns ecosystem stakeholders and incentivize the expansion of the ecosystem.

Who Are the Founders of LON?

Tokenlon is a decentralized exchange and payment settlement protocol based on Ethereum blockchain technology. It currently powers Tokenlon DEX, a decentralized exchange and payment settlement protocol which aims to provide a secure, reliable and seamless trading experience to the masses.

What Makes LON Unique?

LON tokens have the following two main use cases:

Fee discount: Tokenlon currently charges a standard 0.30% fee for most transactions. By holding LON, users can get corresponding fee discounts based on the number of tokens held.

Governance: LON will give the community the right to participate in the governance of Tokenlon. LON holders can improve Tokenlon by initiating Tokenlon Improvement Proposal (TIP) proposals and voting, such as determining the use of the treasury, fee parameters, buyback parameters, supporting assets, product features, etc.

How Many Tokenlon Network Token (LON) Are There in Circulation?

There was around 110 million LON in circulation as of December 2020. The maximum supply is set at 200 million LON.

How Is the Tokenlon Network Token Secured?

The full smart contract code of Tokenlon and the LON token itself can be found verified on-chain. Use for example Etherscan to read the code:

https://etherscan.io/address/0xdc6c91b569c98f9f6f74d90f9beff99fdaf4248b#code

https://etherscan.io/address/0x8d90113a1e286a5ab3e496fbd1853f265e5913c6#code

https://etherscan.io/address/0x11be6f5520fee8e867e20af9c9d2c8a09b909b83#code

https://etherscan.io/address/0x0000000000095413afc295d19edeb1ad7b71c952#code

Why LON?

Competitive rates

Aggregates quotes from multiple liquidity market to offer the best rate

Trusted by many

$4B+ accumulated volume

It just works

Trades rarely fails with a 99.8% success rate

LON maximum supply: 200,000,000

Incentive Plan: 130,000,000

Buyback: Fees charged by the Tokenlon protocol will be used to buyback LON on the open market, and the LON obtained from the buyback will be used for staking rewards and treasury reserves

LON distributionCommunity reward: 130,000,000

Core team: 49,680,000

Stakeholders: 10,320,000

Development fund: 10,000,000

System Architecture

Currently, it’s hard to find the best price as liquidity is fragmented over the whole DEX market. Tokenlon solves this by aggregating multiple liquidity sources, including professional market makers off-chain and automatic market makers (such as Uniswap, Curve) on-chain, automatically selecting the best trading venue for the user.

Economic Mechanisms

Buybacks

The net fees collected by Tokenlon are used to buyback LON on the open market, and transferred to the treasury and staking reward pool.

Staking

LON holders enjoy fee discounts and governance rights by participating in the staking. In return, the stakers receive LON as staking reward.

Mining

As long as the total LON is within the maximum cap, each buyback triggers LON mint, which is used as rewards in the Tokenlon Incentive Plan.

Treasury

LON is held in the treasury pool governed by the community, used to develop and promote the development of the Tokenlon ecosystem.

Governance

Tokenlon’s governance is opened in stages with decision-making power gradually handed over to the community. Participate on Snapshot.

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