Tokenlon 2023 Milestones & Statistics

Tokenlon DEX
4 min readFeb 1, 2024

Tokenlon

(Part of the data concluded below are based off 2023 figures only)

In 2023, Tokenlon achieved a trading volume of $4,243,495,304.28, with 25,999 users and 154,951 transactions. The average gas fee per transaction was $14.64, and the order success rate was as high as 99.71%. The protocol captured a total fee of $8,009,839.72, with community fees distributed in the form of 33,664,782.97 LON.

In 2023, Tokenlon implemented a token payment model for gas fees, enabling 12,029 users to complete 38,767 trades without ETH or by paying fees in tokens. Additionally, 20,258 users utilized MEV protection for 71,046 transactions, with a total amount of $2,115,811,778.16. The top 5 trading pairs were ETH/USDT, USDT/ETH, USDC/DAI, ETH/DAI, and DAI/USDT.

LON

LON (Tokenlon Network Token) is a utility token issued by Tokenlon, used to incentivize various parties in the Tokenlon ecosystem and ensure their collaborative efforts in driving ecosystem development.

Currently, there are 42,343 LON holders, with a hard cap of 200 million LON and a max circulation of 132,671,283.66. The total circulating supply is 102,532,058.86, accounting for 8%. Among them, the total number of LON staked is 71,288,038.91, accounting for 53.73% of the total. The LON price grew by 16% in 2023, starting from $0.55 at the beginning of the year and closing at $0.64.

The fees captured by the Tokenlon protocol are used to buyback LON, and the LON that are bought back is transferred to the community treasury and used for staking rewards. Currently, a total of 22,996,966.81 LON has been bought back, and the longest staking period for LON is from April 1, 2021 (xLON issuance date) to the present day.

Tokenlon events in 2023

  • 4 governance proposals (TIPs)
  • Limit Order launch on Ethereum mainnet and Arbitrum
  • Tokenlon v6 contract deployment
  • Tron Bridge launch
  • Introduction of 3 new market makers/liquidity providers
  • Shifted LON buyback strategy from online to offline, meeting liquidity demands for LON on centralized exchanges (CEX)
  • Instant swap deployed on Polygon, Arbitrum, and Optimism chains
  • Completed in-depth survey on profiles of major traders
  • Exploration of strategic products: Internal testing of Bestbuy feature completed
  • Participation in Token2049, ETH SG & ETHKL events

Community engagements

In 2023, asides from activities within the Tokenlon community itself, we expanded our reach by participating in events such as Token2049 and Ethereum Kuala Lumpur. We would like to express our gratitude to our community members who actively participated in product testing, helping to improve Tokenlon products. Special thanks to users like 蛋头, 莫灵, Trubo, Frankzy, and others for their active involvement in product testing. Thank you all.

Trader profiling

Majority of Tokenlon users predominantly trade popular token pairs, especially mainstream tokens and stablecoins. About 60% of users primarily choose their time to trade based on market fluctuations, and they engage in high-value transactions. The top 20% of Tokenlon users have an average single transaction amount of $474,501.04, and their most commonly traded tokens include ETH, USDT, WBTC, USDC, and DAI.

2024

Tokenlon has consistently strived to build a secure and reliable decentralized trading protocol. Over the past few years, we have established a solid foundation and become a trusted product for hundreds of thousands of users. In 2024, Tokenlon will continue to further improve user trading scenarios and trading experiences.

Our next-gen protocol, Tokenlon v6, will utilize price algorithm optimizations to bring you optimal market quotes and introduce a smart order splitting feature, removing limits on large trades. More innovative trading tools will also be implemented, providing users with more trading edges. A continued expansion into multi-chain networks will also be one of Tokenlon’s goals in the coming year, contributing to a more diverse ecosystem.

Asides from the protocol enhancements, 2024 will see changes to the LON economic model, efficient management of the community treasury, and strengthened collaboration between products and the ecosystem. A big thank you to all of our users for accompanying us on this amazing journey!

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Tokenlon DEX

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