New Asset Proposal: LON (Tokenlon)

Summary

We propose to list LON on C.R.E.A.M. for lending and borrowing.
Token address: 0x0000000000095413afc295d19edeb1ad7b71c952

Action Item

For

Add LON as a collateral asset

Against

Do nothing

Motivation

  • Why is it important to be listed on C.R.E.A.M. market
    • C.R.E.A.M. is a Top5 lending protocol on Ethereum, and it has been deployed on BSC, Fantom, Polygon and Arbitrum. It has a great influence on DeFi market with an impressive number of users.
    • Nearly 50k LON holders currently don’t have a lending & borrowing platform to support them in lending out their LON or borrowing more LON to participate in staking and liquidity mining to gain more income.
  • Benefits for C.R.E.A.M.
    • Tokenlon has a very large community (180k+ existing traders and 10m+ users of imToken wallet) and a good amount of token holders (49k addresses holding LON token). LON lending and borrowing market is very large and the demand has a great potential.
    • Being the first lending platform to add LON as a collateral asset will introduce C.R.E.A.M. to a large number of users and become the first place for them to lend LON.

In short, adding LON on C.R.E.A.M. can introduce C.R.E.A.M. to millions of potential users and increase C.R.E.A.M.’s TVL by a very good amount.

Background

Tokenlon

Tokenlon is a decentralized exchange and payment protocol. It was incubated by imToken in 2017 and currently runs as a separate product and team. imToken is one of the largest decentralized digital asset 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 Highlights

  • So far, 180k users have traded more than $17B volume on Tokenlon
  • Tokenlon is in a unique position to bring imToken’s ten million users to its conversion funnel

LON

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. Holders can also stake their LON to win a stable income.

Asset Details

Contact us

4 Likes

Great move! The addition of LON as a collateral asset will in no small measure expose CreamFinance to Tokenlon users.

3 Likes

Hope there will be more and more DeFi application scenarios for LON after launch CreamFinance !

2 Likes

Indeed a significant proposal to boost DeFi composability. Go LON :rocket:

2 Likes

This for sure is a continuous task, I trust Tokenlon team to deliver :slight_smile:

2 Likes

Just what the community needs, can’t wait to put my LON token to work on Cream.

2 Likes

Yeah, let’s have LON on Cream :slight_smile:

2 Likes

Good. Very good
Support for Lon

1 Like