It's been another hectic week at Tokenlon, with the market experiencing a bull run as we are optimizing our product and processes internally. Sharing with you some updates for this week!
Recap of work this week
- EIP 1559 Upgrade
- Tokenlon has been working on the design and production of EIP 1559 launch
- August report for Tokenlon & LON
- The August update on Tokenlon happenings is out! Read the report here
- Market maker report for August
- To evaluate our market makers better, we are in the midst of collecting data and will carry out analysis soon
- Tokenlon NFT Campaign
- With the ongoing hype with NFT, we are not going to miss out! More details on our NFT campaign will be out soon
As mentioned, the NFT hype has unfortunately led to the gas price increasing tremendously, with the gas price hitting 1960 Gwei at its peak. ETH and BTC have risen significantly as well, with ETH price rising by 10% and BTC returning to the USD $50,000 price point
Trading volume for this week has dropped as well, with a less significant drop for the transaction fees earned before reimbursement. Similar to last week, high transaction fees on Ethereum and the lack of a few functionalities desired by users are a few factors that led to this.
We believe in providing a seamless trading experience for our users, and will be reaching out to a few select active traders on Tokenlon for a 1-1 feedback session. If you would like to give your feedback, please reach out to our admins and we will get back to you.
With regards to figures for LON, fewer LON tokens were in circulation this week as compared to last week. Furthermore, returns for staking and liquidity providers have increased slightly from last week.
The higher returns may have led to more users staking or providing liquidity for LON. If high gas prices persist, we may see this trend continuing next week .
Don’t have any ETH in your wallet to trade during this bull run? While other exchanges may require you to have ETH in your wallet, Tokenlon does not! Try it out here
- Tokenlon supports PAX migration to USDP
- Relevant trading pairs: WBTC/USDP、DAI/USDP、USDT/USDP、USDP/TUSD、USDP/USDC
- Market maker to support price quotations
- Token profile on wallet has been updated
- 1,000+ new tokens initiative on the APP is under review
- LON trade volume API issue has been resolved
- Tokenlon 1-1 user feedback
- If you use Tokenlon web to trade, we want to hear from you! Reach out to us on Discord
- Toeknlon Dune Analytics board
- The issue with Tokenlon’s board on Dune analytics has been resolved, check it out here
- Tokenlon Marketing Funnel Analysis
- We are working to improve the user onboarding process and address areas of the marketing funnel where there are user drop-offs
Work for next week
- New batch of tokens to be listed
- Improve conversion rate at each step of user journey
- Market maker report for August
- Campaign with imKey, where imKey users who trade on Tokenlon can receive privileges
- EIP-1559 launch
If you run into any questions or have any suggestions on Tokenlon, you are welcome to join our Discord group and chat with us.
Important Risk Warning
- LON token contract address:
- Beware of scams!
Digital Assets are highly volatile and unpredictable. Please do your research before trading.