Proposal to list LON as an asset available for supplying and borrowing
For: List LON
Against: Do nothing
Tokenlon is a decentralized exchange and payment protocol. It was incubated by the imToken in 2017 and currently runs as a separated product and team. imToken is one of the largest decentralized digital assets wallets in the world trusted by millions of users.
As one of the first teams building decentralized exchanges in the space, Tokenlon launched its first decentralized exchange in March 2018 and has gone through five major iterations.
- Tokenlon is one of the top decentralized exchanges by both volume and number of users. 150k users have traded more than $8B volume on Tokenlon so far.
- Tokenlon is one of the most profitable DeFi applications in the space, ranked as one of the top decentralized applications by revenue by stats tracked by TokenTerminal.
- Tokenlon is in a unique position to bring imToken’s ten million users to its conversion funnel.
The LON token is the utility token of Tokenlon protocol. Token holders can participate in the community governance and enjoy privileges like receiving trading fees discounts while using Tokenlon protocol.
Benefit for Cream
Tokenlon has a very large community (150k+ existing traders and 10m+ users of imToken wallet) and a good amount of token holders (47k addresses holding LON token). However, as LON token was issued just recently, it is currently not available on any lending platform.
Being the first lending platform to add LON as a collateral asset will introduce Cream to a large number of users and become the first place for them to lend LON. LON currently has a market cap of $137m (circulation supply), if 20% of it goes to Cream for lending, Cream’s Total Value Locked (TVL) can increase by roughly 15% at the time of writing.
In short, adding LON on Cream can introduce Cream to millions of potential users and increase Cream’s TVL by a very good amount.
- Token standard: ERC-20
- Token address: 0x0000000000095413afc295d19edeb1ad7b71c952
- Centralized exchanges
- OKEx, MXC, KuCoin, Hoo, and many smaller ones
- Decentralized exchanges
- Uniswap (LON/ETH, $34m liquidity at the time of writing)
- Sushiswap (LON/USDT, $36m liquidity at the time of writing)