Since 2019, Tokenlon has been deeply integrated into the imToken App. "One-click exchange within the wallet" has become the key feature of Tokenlon, bringing us our early-stage users.
As the DeFi ecosystem grew faster, more and more DeFi protocols are known to people. Trading on the web gives a better interactive experience than trading on mobile. Since then, we realized that the Tokenlon website is an important product to expand further into the international market.
For this reason, we started to optimize the trading experience on the Tokenlon website. You can find the revamped UI and new features on the Tokenlon website now!
Receive quotes and place orders easily
Trading users need enough information to make decisions. At the same time, the information before and after the order preview needs to be consistent.
For this reason, we have made the following improvements
- K-line and Candlesticks
- We have added price curves and candle charts for each trade pair to better help you make trading decisions. All prices come from third-party standard market sources.
- Quote Health Indicator
- The green light means that the quotation can be refreshed at this time and the transaction can be carried out normally. If you see a yellow or red light, please try again later.
- The Received Amount
- If the quotation for an order is provided by a Tokenlon professional market maker, the user will be notified of the final "due" amount. There is no slippage and what token amount you see is exactly what you get;
- If the order quotation is provided by an automatic market maker, such as Uniswap or SushiSwap, you may receive a different token amount based on the slippage level you set. The token amount you are guaranteed to at least receive will be shown to you.
- Standard and discounted fee
- If your wallet address is eligible for a discount on trading fees (e.g if you are a LON holder), the new fees will be displayed and the "Discounted" mark will be added. Click to view the specific discount you will receive.
- Order Preview and LON Rewards
- On the order preview page, we remind you to place an order again after the quotation countdown expires;
- The order preview page reminds every user that they will receive a LON reward for each transaction completed on Tokenlon.
- Miner Fee
- The current Ethereum gas price is displayed on the wallet menu bar. This helps you to calculate total transaction costs easily.
More convenient settings menu
The form page setting function has more features now and you can add more modifications to your settings. A new function "Pay gas fee with tokens" has been added, and the slippage setting is easier to change.
Pay gas fee with tokens
- We strongly recommend you turn the function on when you do not have enough ETH to pay the gas fees. When you turn this function on, Tokenlon will help you to broadcast your transaction and the gas fees will be deducted from the tokens you receive
- In the following two situations, this function is not available
- When you are selling ETH for other ERC-20 tokens
- The ETH you have cannot cover the token approval fees
- After turning on the function of paying gas fees with tokens, you will enjoy preferential trade fees, up to 0 trade fees. If the transaction fails, the cost of the gas fee will be borne by the Tokenlon treasury
- If trade fee＞gas fee
- In this situation, the actual fee that goes to Tokenlon is the difference between the trade fee and the gas fee. The actual trade fee paid by the user to Tokenlon will be reduced greatly.
- If trade fee ≤ gas fee
- Tokenlon will not charge any trade fee and the user just needs to pay the gas fee which will be deducted from the tokens they receive.
Slippage setting
The default slippage of Tokenlon is 1%, and the customizable range is 1.0% - 3.0%. Users can customize the slippage levels.
Easy to manage token approvals
In order to make it easier for users to manage the tokens authorized in Tokenlon, we have added the "Authorized Tokens" function on the settings page. Users can see the tokens they have authorized in Tokenlon at a glance.
Magic toolbox
Tokenlon already helps you wrap and unwrap ETH easily. This process does not require any transaction fees. Users only need to pay the gas fees You can see the tutorial by clicking here.
In the future, Tokenlon will allow users to buy crypto directly via third-party service providers, to help you purchase cryptocurrencies with fiat currency easily.
These are the improvements to the Tokenlon website that we have made! Please give it a try and if you have any suggestions, please feel free to give us feedback through Discord.
Tokenlon team,
2023.01.29