Dear user,
It has been an especially busy week for the Tokenlon team, especially with the changes we want to implement for LON tokenomics. Read on for more details on this week’s updates!
Recap of this week
Marketing & Community
- Voting results for LON TIP proposals
- Based on your votes on snapshot, we will be making the following changes
- We will stop current liquidity mining and build a protocol owned liquidity
- Trade mining rewards for referrers will drop from 15% to 5%. The 10% will be reallocated to traders, giving traders 45% of trade mining rewards
- Carry out LON buyback under a set of circumstances to increase buyback amount and lower expenditure on gas fees
- Based on your votes on snapshot, we will be making the following changes
- Preparation for marketing campaigns in December
- We have a few campaigns lined up, please look forward to it!
- Tokenlon November report
- Please find out update for November here
Due to Ethereum’s recent rise in this week, weekly trading volume increased for this week.
Product & Tech
- Analysis of price competitiveness for main tokens
- We are aware that our price competitiveness for main tokens have dropped and are investigating this issue
- UI/UX changes based on LON TIPs
- Based on the results voted by you, we have started to plan for design changes to LON Dapp
- Upgrade WalletConnect version for Tokenlon web
- To give you a better user experience, we have made this upgrade for you to seamlessly connect your wallet to Tokenlon
Tokenlon Statistics
As mentioned previously, due to Ethereum’s price rise, Tokenlon’s trading volume increased from last week. However, this figure has the potential to rise once pricing competitiveness has increased for our trading pairs.
We are looking at recruiting more PMMs and working more closely with current PMMs to resolve this.
Based on voting results from the community, we will stop current liquidity mining from 9th Dec 2021. Thereafter, we will move to build a protocol owned liquidity. We would like to encourage you to stake your LON tokens instead and will make the migration easy for you on the platform.
More updates will be shared with you next week.
Work for next week
- Execute changes voted on for the LON tokenomics
- Transition to phase 8 of trade mining
- Announcement of marketing campaign for December
- November report for market makers
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:
0x0000000000095413afC295d19EDeb1Ad7B71c952 - Beware of scams!
Tokenlon,
2021.12.03
Contact us
Notes
Digital Assets are highly volatile and unpredictable. Please do your research before trading.