Since its launch on July 31, 2019, Tokenlon has provided 149,000 users decentralized exchange services on the Ethereum mainnet, with cumulative transaction volume of more than $24 billion.
However, many users on the Ethereum network have complained of congestion and high transaction costs. To solve this issues, we are launching a limit order feature on Layer 2 with low transaction costs and fast processing speed.
Tokenlon Limit Order Launch
Tokenlon has been following the development of different Layer 2 ecosystems and have decided to launch the Limit Order function on Arbitrum.
The limit order function allows users to execute a trade at a specific price. When the market price reaches the preset value, the transaction will be automatically completed, removing the need to monitor market prices, making it more convenient for users to trade.
- Click HERE to learn how to use Tokenlon Limit Order feature
- Click HERE to experience Tokenlon Limit Order
Why did we choose Arbitrum as our Layer 2 network
Arbitrum is the most complete Optimistic Rollup solution for the Layer 2 Ecosystem.The EVM features are more friendly to DApp developers, attracting mainstream DeFi projects to use the Arbitrum network.
The Arbitrum ecosystem currently has a total locked value of $2 billion, making it the biggest Layer 2 ecosystem for DApps. High liquidity and low transaction fees also makes it an obvious choice for Tokenlon to provide users with a near-instant trading experience.
Tokenlon Limit Order advantages
Tokenlon Limit Order users will enjoy the following benefits:
- Literally NO cost: 0 gas fees, 0 transaction fees, and 0 cost for unsuccessful orders.
- Hassle Free: Orders will be fulfilled at a preferred price without constant monitoring. Anyone can place limit orders at any time.
- Sufficient liquidity: Integrated liquidity from Uniswap and Sushiswap. Liquidity from PMMs will also be integrated in the near future.
To start with, Tokenlon will aggregate liquidity from Uniswap and Sushiswap. Moving forward, professional market makers will be added to ensure adequate liquidity and depth for the main tokens. Users will be able to place large volume limit orders that are filled quickly
In addition, relayers will soon be open source. Anyone can be come a relayer to match orders and move them on-chain to earn trade fees
Towards Layer 2
This is the year where Layer 2 is likely to gain significant adoption, with some referring 2022 to the L222 year. The Tokenlon limit order launch on Arbitrum is just the start of our foray into the Layer 2 ecosystem. More products and better user experiences on Layer 2 will come from us soon!