Preface
The Tokenlon project began in 2017, initially created to fulfill imToken wallet users’ needs for on-chain trading — enabling everyone to freely and fairly trade crypto assets. On July 31, 2019, Tokenlon evolved from an imToken built-in DEX to an independent decentralized trading platform. Then on December 23, 2020, we officially launched Tokenlon 5.0 and introduced the LON governance token. These milestones laid the foundation for our continuous innovation.
As a one-stop decentralized trading platform, Tokenlon has always aimed to offer a secure, convenient, transparent, and reliable trading experience. Over the past six years, we've weathered multiple bull and bear markets, progressing steadily in both infrastructure development and product innovation.
Today, Tokenlon is more than just a trading platform — it’s a collaborative open community co-built by users and the protocol. We firmly believe decentralization is the way forward. That’s why we’ve consistently advanced DAO governance, tech innovation, and cross-chain expansion to enhance community participation and multi-chain interoperability.
Milestones
- 2017: Tokenlon project launched and integrated with imToken, enabling wallet users to trade directly on-chain.
- July 31, 2019: Tokenlon became an independent DEX, transitioning from a built-in feature to a standalone product — marking a new phase of professionalization.
- December 23, 2020: Tokenlon 5.0 launched, introducing the RFQ (Request-for-Quote) model for professional market makers and integrating AMM liquidity sources, offering users superior aggregated pricing.
- July 2022: In response to Ethereum L2 ecosystem growth, Tokenlon launched limit order support on Arbitrum, empowering users with more advanced trading strategies.
- December 2023: The app version began supporting multi-chain trading, allowing users to easily switch networks within the imToken app.
- 2024: The web version added multi-network support, achieving a seamless and consistent experience across platforms and networks.
- March 2025: Official launch of the "single-token cross-chain swap" feature, enabling fast and secure cross-chain trades.
6-Year Stats at a Glance
As of July 31, 2025, Tokenlon has helped nearly 300,000 users complete over 1.46 million transactions, with a total trading volume nearing $40.5 billion USD.
In this time, Tokenlon has generated $70.32 million USD in protocol fees — providing strong, stable support to both the protocol and community treasury.
Looking Ahead
DAO Governance: Toward Community Goveranance
Since 2020, Tokenlon has actively embraced community governance. As early as November 2020, we launched a community pre-governance pilot, allowing users to vote on trade mining settlement cycles. Since then, over 40 Tokenlon Improvement Proposals (TIPs) have been submitted on key topics like:
- LON tokenomics optimization
- Treasury management
- Protocol parameter adjustments
This signals a gradual shift of governance power from the core team to the community.
Looking forward, we’ll continue strengthening our DAO framework, empowering users to transition from "traders" to "protocol contributors", fostering an open and self-governing ecosystem that propels the protocol’s sustainable growth.
Intent network: Building a next-generation trading infrastructure
On the product front, Tokenlon is actively exploring and embracing the intent-based trading paradigm — a major evolution in DEX infrastructure.
With Intent-Based Swaps, users no longer need to specify the exact transaction path. Instead, they define the desired outcome and constraints, and professional Solvers (liquidity execution experts) handle the optimal execution.
Key benefits of this model include:
- Zero-Gas Transactions: Users sign the transaction without paying gas fees, avoiding failed transaction costs.
- Composable Intents: One intent can include multiple steps, such as unstaking assets, swapping to ETH, and bridging to another chain — all in one request.
Thanks to these features, Tokenlon is evolving toward a powerful, multi-chain trading engine — equipped with advanced on-chain orchestration and route optimization, combined with our existing market maker network to offer a true one-stop multi-chain trading experience.
To our community
Tokenlon’s 6th anniversary is not an end — it's a new beginning.
We sincerely invite every community member to continue participating and witnessing Tokenlon’s journey:
- Join Tokenlon DAO to propose, vote, and co-govern the protocol’s future
- Try and give feedback on our new intent-based trading architecture to help us improve the user experience
- Collaborate with us in building a decentralized trading infrastructure that unifies liquidity and networks, making DeFi more accessible to everyone
Thank you for your trust and support over the past six years.
Looking ahead, we remain committed to openness, driven by technological innovation and rooted in community consensus — together, let’s usher in the next era of decentralized finance.
Tokenlon,
2025.08.07
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