Tokenlon FAQ
What is Instant Exchange?
Tokenlon Instant Exchange is a real-time trading decentralized currency exchange system which based on Ethereum Smart Contracts(0x protocol) . Itβs main advantages:
During the exchange process, the token will not leave your wallet and complete the exchange in the blockchain through the smart contract.
Real-time quotes, providing users with satisfactory trading pair prices, better than other DEXs, even centralized exchanges.
Trade price equals What You See Is What You Get
Tokenlon Instant Exchange like a 24-hour unattended ATM, users can do faster, better, and more currency exchanges with a simple operation.
Instant Exchange FAQ
1. What are the features of Tokenlon Instant Exchange
Supports RFQ and AMM dual-mode quotation, provide users with competitive exchange prices
No need to deposit and withdraw, you can complete the token exchange within the wallet
Supports adjusting the transaction slippage, the transaction process is safe and easy
You can set the receiving address, βExchange + Transferβ in one transaction
The success rate is much higher other DEX
2. How does the Tokenlon Instant Exchange fee be charged?
Currently, 0.3% of trade amount is charged for each Instant Exchange
3. Which currencies does Tokenlon Instant Exchange support?
Currently, Tokenlon supported tokens are ATOM, DAI, ELF, EOS, KNC, MANA, PAX, SNT, TUSD, USDC, USDT, ZRX
We will continue to add new trading pairs, please be patient.
4. Does the Tokenlon Instant Exchange has the trade amount limit?
Trade amount limit: The current Instant Exchange limit is 300 ETH for each instant exchange, and the subsequent increase will be based on user demand
5. What does the status bar display green/yellow/red ?
Green: the exchange quotation can be updated in time and can be traded normally
Yellow: the exchange quotation cannot be updated in time, please wait for the quotation to be updated
Red: the exchange has no quotation and cannot initiate the trade
6. Is the Tokenlon transaction deal with immediately?
The Tokenlon Instant Exchange occurs on-chain, so the transaction time depends on the speed of the Ethereum network. Most trading transactions are completely within 60s
7.Will there be a slippage during the transaction?
Currently Tokenlon supports both RFQ and AMM quotation. If the userβs current order corresponds to an AMM quotation, there will be transaction slippage. Tokenlon supports adjusting the transaction slippage. Users can set an acceptable slippage range. Only when the transaction result is below the slippage, will the transaction be executed.
8. Why do I need allowance authorization?
The purpose of the authorization is to allow the smart contract of the Tokenlon Instant Exchange to get the transfer permission of the token, and complete the token exchange after the user initiates the transaction
When using Tokenlon Instant Exchange, exchanging ETH to other tokens does not require authorization, but using ERC 20 tokens to exchange, authorization is needed
9. Why do I need to pay miner fees for each transaction?
The Tokenlon Instant Exchange occurs on-chain. So you should pay miner fees to send a transaction.
10. Do I need to recharge assets to Tokenlon during the exchange?
Unlike a centralized exchange, Tokenlon Instant Exchange trading tokens do not require recharge/withdraw operations. You can use your wallet assets to exchange in Tokenlon directly
11. Why the price looks like a little worse than centralized exchange?
In order to increases liquidity, Tokenlon accessing multi-market maker, while also increasing the competitiveness of quotes, providing users with satisfactory trading pair prices, better than other DEXs, even centralized exchanges.
Actually, taking into account the trading fee, the recharge/withdraw fee, and the time cost of the recharge/withdraw from centralized exchange, the prices of Tokenlon Instant Exchange is better than centralized exchange
12. How do I find my trading history?
Go to the Tokenlon Instant Exchange page, click the ββ¦β button in the upper right corner and select Transaction Records to view it
13. Does Tokenlon Instant Exchange support the K line?
Currently, Tokenlon Instant Exchange only displays the historical exchange rate (trade price) of the trading pair, and does not support the K line
14. I want to apply for a token at the Tokenlon Instant Exchange. What should I do?
Currently, Tokenlon Instant Exchange does not support the project team to apply for it
Why need allowance authorization?
Tokenlon is based on Ethereum Smart Contracts for atomic currency exchange. During the exchange process, the token will not leave your wallet and complete the exchange in the blockchain through the smart contract.
The purpose of the authorization is to allow smart contract of Tokenlon to get the transfer permission of the token, and complete the token exchange after the user initiates the transaction. You cannot use Tokenlon for currency exchange without authorization.
Authorized operation steps:
Turn on the authorization switch
Send authorization transaction
Waiting for the transaction success
Token authorization completed
Note
When using Tokenlon, exchanging ETH to other tokens does not require authorization, but using ERC 20 tokens to exchange, authorization is needed.
Authorization operation does not affect user asset security.
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