Summary
Tokenlon issues functional token LON;
The first transaction mining has been started;
The total issuance limit is 200 million pieces;
text
On September 25, Tokenlon's historical transaction volume exceeded $1 billion, and the cumulative transaction address exceeded 76,000. Tokenlon is committed to bringing decentralized finance into the mainstream. In order to build this vision together with the community, we are happy to announce the LON token release plan to the community while reaching the $1 billion milestone and allocate 65% of the total To the community.
As the issuer of LON, Tokenlon was incubated by imToken investment in 2017. Based on the experience of integrating protocols such as Kyber and 0x, after five iterations, it launched its original RFQ counter quotation model in 2019. Adhering to the blockchain characteristics of "low threshold", "zero trust", "uninterrupted" and "no single point", it has realized the currency transaction function in the decentralized wallet. In more than a year, Tokenlon achieved a cumulative transaction volume of 1 billion U.S. dollars and brought a decentralized transaction experience to more than 76,000 users.
According to Token Terminal data, Tokenlon's annual revenue reached 13 million US dollars (as of September 24), ranking seventh in DeFi projects.
The realization of this milestone requires the core team, 0x team, market makers and other partners, as well as the support of early users, and the next milestone requires more contributors to participate in the joint construction. The release of LON will play a vital role in this process, and Tokenlon will open the way to decentralized community governance in the future.
LON: Tokenlon network token
As an application token issued by Tokenlon, LON is used to incentivize all parties involved in the network ecology and ensure that all parties can participate in and work together to promote the development of the ecology. The total issuance of LON is 200 million, of which 65% will be allocated to the community through the LIP (LON Network Incentive Plan), and the remaining 35% will be allocated to the core team and its early supporters.
Main uses of LON
Rate discount: LON holders will enjoy a discount on transaction fees
Governance: LON will give the community the right to participate in the governance of Tokenlon. The opening time and execution rules of the governance module will be announced in the later stages
How to get LON?
In order to better encourage community participation, the Tokenlon incentive plan LIP will be gradually implemented in multiple stages. In the first stage, an incentive plan is recommended for users. For a period of five weeks, 5 million LONs (accounting for 2.5% of the total) will be distributed to Tokenlon trading users and promotion users. ).
In the first stage, users who participate in transactions on Tokenlon or recommend others to trade can obtain LON. The LON obtained will be able to be picked up in the wallet before the end of the year and will begin to circulate. Mining will start on 2020.9.26 00:00 UTC.
details
Step 1: Make a transaction
Go to Tokenlon to trade (imToken App or web version tokenlon.im)
Step 2: Obtain computing power
If you don’t use your friend’s invitation code, the transaction fee will be $1 per transaction:
You will get 0.6 computing power
If you use a friend’s invitation code, each transaction contributes $1 transaction fee:
You will get 0.7 hashrate
Friends will get 0.3 hashrate
Note: The transaction fee does not include the miner fee required for chaining.
Step 3: Obtain LON
At the end of each week, you will share 1,000,000 LON tokens based on the percentage of the computing power you obtained this week, and the computing power will be recalculated.
Number of LONs obtained this week = my hashrate this week/total hashrate of all users this week x 1,000,000 LON
Note: Users can track current hashrate information in real time on this panel
How to get the invitation code?
Everyone can generate an invitation code here, and the hashrate rewards can be activated after successfully inviting 3 people.
If you hold a TFT and generate an invitation code through this address, you can activate the computing power reward after successfully inviting 1 person.
Note: Invited users need to complete at least 1 transaction to be considered binding. Users cannot bind the invitation code generated by themselves.
Important risk warning
1. The LON token contract has not yet been deployed, and transactions cannot be transferred at this time. Beware of scams
2. LON has no fundraising and no token sale. Everyone can participate in mining for free without any threshold
3. LON has no investment value and is a Tokenlon network application token. Holds LON to enjoy a discount on handling fees
Please follow the official channels below to get the latest development of LON:
Official website: https://tokenlon.im
Medium: https://medium.com/@tokenlon
Discord: https://discord.gg/6hxKjgT
Twitter: https://twitter.com/tokenlon
Weibo: https://weibo.com/Tokenlon