Tokenlon Protocol Core Data
In 2025, as competition in the DEX sector intensified and liquidity continued to expand, Tokenlon established itself as a trusted on-chain trading platform for mainstream crypto traders through its stable and reliable performance. Throughout the year, 40,924 new & unique addresses completed swaps via the protocol, reaching a cumulative on-chain trading volume of $7.42 billion. Since its launch in 2019, Tokenlon has served 210,644 users and facilitated a total of $37.82 billion in transactions, steadily accumulating users and volume amidst the industry's multi-chain expansion.
In terms of value capture and user activity, the Tokenlon protocol generated $11.14 million in fee revenue for the year, with a net profit of $10.97 million, demonstrating strong and sustainable on-chain revenue generation. Monthly trading volume remained stable at an average of $618 million, with monthly active addresses (MAU) steady at 5,571. These consistent metrics reflect the long-term trust of core users; even in the face of short-term market volatility, real and sustainable trading demand remained resilient.
The Choice of Mainstream Users
Trading behavior on Tokenlon in 2025 aligned closely with mainstream asset allocation trends, highlighting the protocol's competitiveness in core on-chain trading scenarios. The annual trading volume peaked on August 8, with a single-day high of $100,230,510.70. The average transaction size reached $26,980.98, and the most active user completed 1,058 trades over the year—showcasing Tokenlon’s ability to cater to both large-scale institutional-sized trades and high-frequency retail needs.
Regarding trading pairs, ETH–USDT emerged as the most popular. The top 5 pairs all consisted of BTC/ETH mainstream tokens + stablecoins, fitting the 2025 market trend of rising volume in mainstream tokens on DEXs. The asset structure remained healthy and balanced: non-stablecoin trades accounted for 81%, while stablecoins accounted for 19%. Stablecoins continue to serve as a reliable medium for mainstream trading demand, helping the protocol avoid liquidity risks associated with an over-reliance on altcoins—a strategy perfectly aligned with Tokenlon's focus on robust, mainstream growth.
Community & DAO Governance
The community is the lifeline of Tokenlon’s decentralized ecosystem. In 2025, Tokenlon continued to deepen community building and advance DAO governance, achieving growth in both community size and engagement. By year-end, the Discord community reached 7,284 members, and X (formerly Twitter) followers surpassed 17,000, establishing efficient communication channels across multiple platforms.
Throughout the year, Tokenlon hosted 11 community events, deeply involving users in ecosystem development. We successfully launched 6 partnership projects to expand our ecosystem matrix and initiated 2 TIP (Tokenlon Improvement Proposal) proposals, gradually transferring development and decision-making rights back to the community. This process has highlighted the collective power of our community in protocol iteration and ecosystem expansion, laying a solid foundation for decentralized governance.
Conclusion & Future Outlook
Looking back at 2025, against the backdrop of fierce DEX competition and multi-chain development, Tokenlon stood firm on its core principles of "Stability, Security, and Reliability," focusing on mainstream asset trading. Supported by solid product capabilities and continuous community governance, we achieved synchronized growth in volume, user retention, and community influence. The core data from this year represents more than just stable operation; it is a testament to user trust and authentic trading demand—the fundamental strengths that allow us to navigate industry cycles steadily.
As a DEX growing within the imToken ecosystem, Tokenlon will continue to iterate its product in 2026. We plan to integrate more premium liquidity sources to enhance our DEX aggregation and quoting capabilities. Simultaneously, we will deepen DAO governance by handing more decision-making power to the community and refining the LON 2.0 Economic Model, ensuring that community users and holders can share in the dividends of the protocol’s growth.