Overview
Tokenlon is a decentralized exchange built around wallet-native trading. It launched in 2019 and focuses on swap execution without deposits or intermediaries. The service connects directly to your wallet and uses a request-for-quote (RFQ) model to match orders through market makers. No login, no KYC, just connect and trade.
Supported Chains and Assets
Tokenlon supports multiple blockchains beyond Ethereum. Users can swap tokens on Polygon, Arbitrum, Optimism, BNB Chain, Base, and more. This makes it easier to move assets without switching platforms. Only a limited number of trading pairs are listed at once, usually the top 10–15 in liquidity.
Fee Model and LON Token
Trading fees on Tokenlon start at 0.30%. Unlike other DEXs, the rate is fixed regardless of whether you're a taker or maker. However, the native LON token can reduce fees depending on how much you hold or stake. LON also powers the governance process and gives access to proposal voting. Holding LON may reduce fees down to 0.10% for active users.
Execution and Interface
The platform does not hold your funds. Trades happen directly from your wallet. The interface shows real-time quotes before you sign a transaction. Quotes are aggregated from different market makers, so slippage is often low. Swap speeds are fast if you're using a high-speed network like Arbitrum or Optimism.
Volume and Liquidity
Daily volumes range from 20 million to 140 million USD depending on the market. Tokenlon aggregates liquidity but still lists fewer pairs than larger DEXs. Most of the volume goes through ETH, USDT, and DAI pairs. Occasionally newer tokens are supported during early adoption stages.
Safety and Custody
Since Tokenlon is non-custodial, your funds never leave your wallet until the trade executes. Smart contracts have been audited, and users control their keys at all times. No login is required. However, caution is advised: some third-party versions of Tokenlon have shown low trust ratings. Always use verified sources.
Tokenlon DAO and Updates
Tokenlon has gradually added DAO features. Users can vote on TIPs (Tokenlon Improvement Proposals) if they hold enough LON. The platform added new networks in 2025 and announced partnerships with liquidity protocols like Lido and Ondo. Activity spikes often align with token campaigns or network expansion.
Pros and Cons
- Pros:
- Wallet-native design with no custody
- Supports multiple chains
- LON token unlocks fee discounts and governance
- Transparent execution with aggregated quotes
- Cons:
- Higher base fee than some rivals
- Limited number of trading pairs
- Must rely on third-party wallets
- Scams possible through unofficial sites
Final Thoughts
Tokenlon offers a smooth, wallet-based trading experience without central custody. It's built for users who want full control over assets and don’t mind a slightly higher fee for the added security. DAO features and LON token utilities make it appealing for long-term holders. As always, stick to the verified platform and check quotes carefully before each swap.