- It is based on Ethereum Blockchain.
- It also provides users the right for governance.
Tokenlon is based on the Ethereum blockchain. It is a decentralised exchange and a payment settlement protocol. This platform is committed to providing a secure, reliable, and seamless experience to the people. This makes this platform trustable among the masses. Many investors are currently using this protocol as their primary exchange.
The use of LON Token enjoys many unique features like fees and discounts. Users get benefitted by holding LON Token. Because on the Token LOn exchange, a standard fee of 0.3% is applied on most of the transactions. But the users who hold LON Token get a special discount on every transaction. This step encourages users to hold more LON tokens to get access to the special discount.
Another Unique feature that this platform offers is governance rights. Every LON Token holder. Gets the governance authority to vote and participate in the functioning of the LON Token they can also provide suggestions regarding improvement in this network. This Platform organizes various community events whereusers can vote and participate in the governance process. This not only increases the decision quality of the community but also builds trust between the investors regarding the project.
Some Stats About LON token
Currently, LON token enjoys a market cap of $17,812,742 and ranks 609 as per the market cap among all other cryptocurrencies. Currently, there are 44,559,365 LON coins in circulation. It also has a maximum supply of 200,000,000 LON Coins. This means 22% of the coins are mined and the rest are undergoing mining each day. Currently LON token is trading at $0.3997.
Tokenlon has all the characteristics of a blockchain such as:
- Permissionless – This platform is entirely permissionless which means that anyone can use this platform without the permission of the developers. This makes its use very feasible for the developers.
- Trustless – Because this platform uses Smart Contracts. It makes the platform transparent as well as secure as users do not need to trust the third-party applications.
- Anti-censorship – It is based on cryptographic technology that not only makes the value transfer unstoppable but also allows developers to function freely.
- Robust: It is uninterrupted and has no single point of operation. It makes the system robust.
History
In 2020 the genesis mining of the LON token took place. At this time many traders, referers and even the market movers were encouraged by giving 30 million genesis loan distribution to the community.
In the year 2021, the tokenomics of the token was decided by the community.
In the year 2023, they started cross-chain settlements to support the cross-chain transactions.
Types of Participants of the Network
There are four types of participants of the network who contribute towards the proper working of the network.
First are the Users who use the protocol. hey are also the referrers who bring New Users to the community to strengthen it.
The second type of participants are the Liquidity Providers. These include market makers, brokers, and several asset providers.
The core developmental activity is done by the developers.
Other types of participants are called governance participants who include TiP proposers, reviewers, and token-holding voters.
