The market remained volatile this week. The prices of ETH and BTC have remained at the same level for 3 consecutive weeks, hovering around $19,000 and $1,300 respectively. Due to large fluctuations this week, the total trading volume of DEX recovered by 16% this week after falling by 26% last week.
Tokenlon's weekly trading volume was at $85,506,894.05, an increase of 34.01% compared to last week, the number of trading addresses was 1,134, and the number of transactions was 2,793.
This week, the Tokenlon transaction fee was at $126,994.00, the net profit was at $119,777.70, the current transaction fee balance is at $837,398.2, the Tokenlon 5.0 protocol cumulative transaction fee is now at $44,198,414.37, and the community treasury balance is at $1,808,685.21 (without deducting miner fees)
Total staked LON is at 55,079,288.13. Last week, 103,452 LON were added, accounting for 64.47% of the total staked positions. This week,159,026 LON were bought back. The APY (monthly) is expected to be 12.22%. Uniswap and Sushiswap AMM liquidity pools staked 6,657,808 LON, accounting for 7.79% of the total staked positions. The cumulative staked LON accounts for more than 72.26% of the total.
Product & Tech
- Wrap ETH tool
- Completed product design and UX, now officially entering the development stage. Security tests coming up next week
- Once ETH Wrapping feature is launched, users can use the integrated Weth.io service to complete the two-way conversion of ETH and WETH on both Arbitrum and Eth mainnet
- Tokenlon website & Limit Order UI improvements
- Based on the feedback collected from users and the community, the new Tokenlon Limit Order UI has been officially launched. New features listed as below.
- The market exchange rate is placed in the order form permanently for price reference
- Clearer indication between the pending order price and the market price
- Enabled direction switching of order placements for user convenience
- When the pending order price is lower than 1% of the market price, a pop-up window will appear to prevent users from setting the wrong price that can cause unnecessary losses
Marketing & Community
- Q4 Media PR
- Negotiations with several media outlets with localized communities in some countries
- Community activities with GMX & Dopex
- Planning stage, expected to start early November
- New market makers connections
- Confirming collaboration details and preparation work before market making starts
- 3rd party security partnerships
- Helps Tokenlon operate in a safe and compliant manner, including sharing services such as malicious addresses related to hacking, tag library, and address compliance verification.
- Follow-ups from Devcon VI
- Tokenlon has made connections with many potential partners at Devcon VI, recently held in Bogota, Columbia - South American blockchain community and developers, as well as international NFT tools and services projects/organizations.
- Follow-ups and detailed discussions started after the team returned to Singapore.
If you are a LON holder, you can head to our Discord to obtain the LON holder role. The team has planned follow-up communications for feedback and suggestions, while building and improving Tokenlon together. If you’re not sure how to do so, please refer to the operation guide.
Important Risk Warning
- LON token contract address:
- Beware of scams!
Digital Assets are highly volatile and unpredictable. Please do your research before trading.