Tokenlon, a decentralized exchange powered by 0x protocol using Request For Quote (RFQ) architecture to bring decentralized liquidity to the crypto market, has begun transitioning to the 5.0 version of the exchange making more tokens available for trading aggregated from multiple sources, to offer the best prices to users.
Phase one of the 5.0 upgrade starts with the release of 30,000,000 Tokenlon tokens (LON), assigned for the genesis trade mining and early Tokenlon supporters, the tokenomics developments will continue into the new year.
The 5.0 update brings benefits to those holding the Tokenlon token (LON) via trading fee discounts, trade mining rewards, staking, and buybacks.
“Tokenlon has repeatedly hit every goal we’ve set for it over recent years, however, to really step up and compete at an even higher level, the upgrades included in the 5.0 version are necessary. Through the inclusion and distribution of the LON token, we hope to attract and incentivize even more users to the platform in order to build Tokenlon into a self-sufficient, distributed crypto exchange that offers the best value possible,” said Lucas Huang, Head of Growth at Tokenlon.
Additionally. phase one of the 5.0 update will see additional tokens available to trade on Tokenlon via Uniswap and Curve, with more exchanges to be added, as opposed to the 26 tokens available for trading on the V4 version.
Hundreds of more tokens will be vetted and added to the exchange throughout the 5.0 upgrade.
As part of the 5.0 launch, Tokenlon is publishing its full whitepaper outlining key principles of their mission and plans in place to grow the DeFi industry, the full whitepaper will be available shortly.
This update is solving typical pain points in the industry, including enhancing market liquidity using different sources for aggregation, so that the platform offers the best prices while requiring minimum trust.
Once the upgrade is complete, Tokenlon 5.0 will source liquidity from the backends of other DEXs and compare prices from these DEXs with market makers which give traders the best options.
Users of Tokenlon can claim their LON tokens with the smart contract on December 23rd at 0:00 UTC and kick off the liquidity mining program on December 24th at 0:00 UTC.
Since the launch of V4 in July 2019, Tokenlon has achieved a $4B total trading volume and a 99.6% trade success rate compared recently to peers Uniswap and Kyber.