LON FAQ

What is LON

LON is a utility token issued by Tokenlon, used to align all parties involved in the ecosystem and incentivize participation and expansion of the ecosystem.

LON Basic information

Token name: Tokenlon Network Token

Contract address: 0x0000000000095413afC295d19EDeb1Ad7B71c952

Token type: ERC-20 Token

Total amount issued: 200.000.000

How is LON distributed?

Total amount of LON will be capped at 200,000,000, of which 130,000,000 LON is allocated to the community through the LON Network Incentive Plan (LIP). 49,680,000 LON is allocated to the core team, 10,320,000 LON is allocated to stakeholders, and the remaining 10,000,000 is allocated to the development reserve.

To encourage community participation, LIP will gradually complete the distribution of 130,000,000 LON in two phases. The 70,000,000 LON that belongs to the team, stakeholders and the development reserve will be unlocked and released with linear vesting for two years.

What is the purpose of LON?

LON tokens have the following two main use cases:

1. Fee discount: Tokenlon currently charges a standard 0.30% fee for most transactions. By holding LON, users can get corresponding fee discounts based on the number of tokens held.

2. Governance: LON will give the community the right to participate in the governance of Tokenlon. LON holders can improve Tokenlon by initiating Tokenlon Improvement Proposal (TIP) proposals and voting, such as determining the use of the treasury, fee parameters, buyback parameters, supporting assets, product features, etc.

How to get LON?

Lon will be listed on Tokenlon, which means you can buy LON directly on Tokenlon.

What is the LON referral plan?

Inviting others to trade on Tokenlon will allow users to get a total of 20% extra rewards. After the taker activates the invitation code (it is activated by binding the invitation code and making a transaction), the taker will get an extra 5% trading reward for each transaction, and the referrer will get 15% referral reward, which will attract more people to trade on Tokenlon.

Additional:

The genesis mining stage has already finished. Trading mining will be started on Q1, 2021.

LON genesis mining

What is LON genesis mining?

The LIP distribution plan is implemented in multiple stages, and genesis mining has been finished during Sep 26th, 2020-Dec 20th, 2020.

Genesis mining was divided into two stages. The first stage started on September 26th and was divided into five weeks. Takers and referrers were issued 5 million LON as the mining reward. The second phase started from October 31st, issuing 1000W LON as a mining reward to takers,referrals, and market makers.

How to calculate the number of LON obtained by genesis mining?

The number of LONs obtained by the user = the share of the user’s computing power * the total amount of LON allocated by mining at the current stage

Open “LON Mining” on the browse page and click “Trade Mining Records” to see the details obtained by mining.

How to receive the LON obtained by genesis mining?

Users who participated in genesis mining can open “LON” dapp on the browse page and click the “Claim” button on the homepage to receive LON to their wallet.

LON liquidity mining

What is LON liquidity mining?

In order to encourage the community to provide liquidity for LON, Tokenlon will start a one-year liquidity incentive plan. A total of 10,000,000 LON will be used for liquidity pool incentives.

When does LON liquidity mining start? How to participate?

A total of 1,500,000 LON will be issued in the first phase of liquidity mining, from 24th Dec, 2020, 0:00 UTC to 21st Jan 2021, 0:00 UTC for 28 days.

During this period, you can obtain LP tokens by joining Uniswap’s LON/ETH liquidity pool, and stake LP tokens to Tokenlon to participate in LON liquidity mining. The LON obtained from mining can be redeemed in real time.

Announcing LON Liquidity Mining

LON governance

LON is used to align all parties involved in the ecosystem and incentivize participation and expansion of the ecosystem. As of the fourth week of LON mining, more than 28,000 users have received a total of 4 million LON allocations. Based on the growing LON community, the team decided to initiate community pre-governance through Snapshot, invite the community to participate in project decision-making, and gradually open up governance rights.

How to use Snapshot to participate in Tokenlon pilot community governance

LON’s airdrop plan

Does LON have an airdrop plan? How can users obtain LON airdrops?

Tokenlon’s outstanding achievements are credit to our early stage supporters in the community. Therefore, in the community allocation of LON, a total of 15,000,000 LON is used to give back to early supporters. Eligible users can receive LON through the claim contract.

For the airdrop plan, please check the “LON Giveback Program”