On Feb 26th morning, Tokenlon team received a message from 0x @willwarren89 as follows: The well-known white-hat hacker @Samczsun found that Tokenlon 4.0 has a security vulnerability. This vulnerability has a high-risk level, which will not only affect the security of the transaction fee deposited on the platform, but also will affect the safety of user funds. In response, the Tokenlon team immediately launched defensive actions from these two dimensions.
1, Tokenlon team immediately withdrew a large amount of transaction fee tokens back to the treasury to ensure that there would be no loss of precipitation fees.
2, Tokenlon team…
Dear Tokenlon community,
We are thrilled to announce the launch of LON buyback, staking and trade mining! LON is the key to promoting the positive feedback loop of the Tokenlon ecosystem. Buyback, staking, and trade mining are integral for Tokenlon to move towards its vision of becoming a global exchange and payment infrastructure.
The launch time of LON staking, buyback, and trade mining is 8:00 (UTC) on April 1, 2021. The staking will be open to all users three hours in advance, but the staking reward will only take effect at the launch time.
We appreciate your patience in the…
Background
- According to the design of the Tokenlon protocol, the relayers responsible for matching orders can pay Ethereum miner fees for some users’ transactions
- The design of relayer paying the miner fees can increase the success rate of users’ trades therefore bring a better user experience
- As part of the treasury design, the fees collected by Tokenlon protocol will be first used to reimburse relayers the miner fee paid by them
- As of March 22, 2020, Tokenlon 5.0 has accumulated more than $10 million in fees, including 2,987 WETH
- As of March 22, 2020, the Tokenlon relayer has paid 2,560…
According to our recent community governance proposal TIP8 voting result, LON required for trading fee discount has been lowered. You can now enjoy trading fee discounts while holding as low as 1 LON. The more LON you hold, the bigger discount you would receive.
Below is the newest fee structure:
Last week, Tokenlon core team launched a community vote on whether to list 15 new assets on Tokenlon.
According to the result of voting, Tokenlon now has supported AAVE (AAVE), ALPHA (Alpha Finance), BADGER (Badger DAO), BNT (Bancor Network Token), BOND (BarnBridge), ENJ (Enjin Coin), FTM (Fantom), GRT (The Graph), MATIC (Polygon), MEME (Meme), NFTX (NFTX), RAI (Rai Reflex Index), SAND (SAND), SRM (Serum), WHALE (WHALE) and you can trade above assets with ETH.
Tokenlon core team will adjust the maximum amount of a single trade in real time based on the liquidity status of above assets in the future…
A look at our recent developments
We released the Tokenlon 5.0 on December 23, 2020. As of 2021.03.12, USD 9.55 million have been accumulated in the Tokenlon fee contract. Substracting the cost of 2260 ETH (approximately USD 4.05 million) that Tokenlon pays for the user’s miner fee, net fee income is USD 5.5 million; that is for Tokenlon 5.0, which has been online for 80 days.
With Tokenlon 5.0, users get access to the liquidity of Uniswap, SushiSwap and Curve. …
Join Phase III now
The LON liquidity mining II has ended at 4:00 am (UTC) on March 4th, we are glad to see more than $70 million funds participated in the pools and shared 1m LON rewards.
The new round of LON liquidity mining started at 4:00 am (UTC) on March 4th. It will last for 8 weeks ending at 4:00 am (UTC) on April 29th. According to the result of TIP7, 1,400,000 LON will be distributed as the reward to those who provide liquidity in the LON/ETH and LON/USDT pool.
During the period, you can stake Uniswap’s LON/ETH and SushiSwap LON/USDT LP tokens…
Proposal 7: TIP7 — LON Liquidity Incentive Phase III
Background
According to the Tokenlon litepaper, 10,000,000 LON is reserved for liquidity related incentives.The core team has kicked off two LON Liquidity Incentive phases so far, with the current one to end on 2021.3.4.
The team plans to start LON Liquidity Incentive Phase III on 2020.3.4. It will last for 8 weeks and end on 2021.4.29. Phase III LON incentive will be rewarded in the same way to the below two liquidity pools:
Goal
Let the community decide on the number of LON for Liquidity Incentive Phase III
Proposed Action Items
Make changes based on the voting…
Vote now:
https://snapshot.page/#/tokenlon
Summary
Proposal 5: TIP5 — Reduce trading fees for LON pairs
Background
Tokenlon protocol charges a standard trading fee of 0.3% for LON pairs. To take advantage of the recent public attention towards LON, the core team proposes to reduce the trading fees for LON pairs as part of our Spring Festival campaign. Reduced fees should help Tokenlon offer more competitive rates for LON pairs, therefore attracting more people to trade LON on Tokenlon.
Goal
Let the community decide on the trading fees for the LON pairs
Proposed Action Items
Make changes based on the voting results of the proposal. It will take effect for 4 weeks, from…
Tokenlon now aggregates SushiSwap liquidity 🍣 + 🐉 = ❤️
You might have noticed that Tokenlon is no ordinary decentralized exchange anymore. (Was it ever?) No, since the latest update in December, Tokenlon now aggregates liquidity from 3 sources: Professional market makers, Uniswap, Curve.
🍣 Today we introduce SushiSwap as the fourth liquidity source to the family.
To you, the user, this means more tokens and better liquidity!
With SushiSwap, we bring even more options to our users. And the best part: For every trade, Tokenlon finds the best price between all 4 liquidity sources.
More tokens and better liquidity
Looking at the data of the few weeks Uniswap has been integrated with Tokenlon, we…
