Markets across different asset classes continue to be volatile and Crypto is no exception. Various economic factors such as the continued Russia war and interest rate increases have contributed to BTC and ETH dropping to $40,000 and $3,000 levels respectively.
More specifically, let’s look at Tokenlon’s numbers for the past week!
Volumes across DEXs as a whole dropped 21%, while Tokenlon’s volume for the past week rose by 17.52%. This is partly due to the large imBTC/WBTC trade worth 100 BTC from this week.
Staking increased by 718,831 LON over the past week, with an APY of 27.70% as of this week. This takes LON staked and in liquidity pools to be at 75%. As we move towards a more bearish market, users seem to prefer staking their tokens.
4 Buybacks were triggered, totaling 220,719 LON.
Product & Tech
We will be removing the minimum trade amount requirement soon. This function will go live once the imToken 2.10.0 app update is released.
The limit order function is currently in staging phase and has been reviewed twice internally. Next up, we will fix the bugs that surfaced during testing.
Soon, you will be able to switch networks using your wallet when connected to the Tokenlon website. This feature is in review and we will give you an update soon.
Due to the login issue users faced when using their Unstoppable Domains account, we put the campaign on hold. This issue has since been resolved and we will relaunch the campaign soon.
To celebrate the 1 year anniversary of launching our LON tokenomics, we have planned for staking and trading activities on OKX and Kucoin. Look forward to more updates on this!
Check out our LON Tokenomics 1 year recap if you have not, to find out how the LON ecosystem has performed over the past year.
We would like to take this opportunity to remind all users to always check the wallet address before transferring your tokens. Recently, we have received feedback from users sharing that they have mistakenly transferred tokens to the Tokenlon smart contract address.
These tokens cannot be retrieved by the team, as our protocol is decentralized. Please check your wallet address before making any transfers.
Important Risk Warning
- LON token contract address:
- Beware of scams!
Digital Assets are highly volatile and unpredictable. Please do your research before trading.