LON FAQ

Tokenlon
  • Updated

What is LON

LON is a utility token issued by Tokenlon, used to align all parties involved in the ecosystem and incentivize participation and expansion of the ecosystem.

 

LON Basic information

Token name: Tokenlon Network Token

Contract address

Token type: ERC-20 Token

Total amount issued: 200.000.000

 

How is LON distributed?

Total amount of LON will be capped at 200,000,000, of which 130,000,000 LON is allocated to the community through the LON Network Incentive Plan (LIP). 49,680,000 LON is allocated to the core team, 10,320,000 LON is allocated to stakeholders, and the remaining 10,000,000 is allocated to the development reserve. 

To encourage community participation, LIP will gradually complete the distribution of 130,000,000 LON in two phases. The 70,000,000 LON that belongs to the team, stakeholders and the development reserve will be unlocked and released with linear vesting for two years.

 

What is the purpose of LON?

LON tokens have the following two main use cases: 

  1. Fee discount: Tokenlon currently charges a standard 0.30% fee for most transactions. By holding LON, users can get corresponding fee discounts based on the number of tokens held. 
  2. Governance: LON will give the community the right to participate in the governance of Tokenlon. LON holders can improve Tokenlon by initiating Tokenlon Improvement Proposal (TIP) proposals and voting, such as determining the use of the treasury, fee parameters, buyback parameters, supporting assets, product features, etc.

 

LON governance

LON is used to align all parties involved in the ecosystem and incentivize participation and expansion of the ecosystem. As of the fourth week of LON mining, more than 28,000 users have received a total of 4 million LON allocations. Based on the growing LON community, the team decided to initiate community pre-governance through Snapshot, invite the community to participate in project decision-making, and gradually open up governance rights.

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