Babbitt News, July 31, imToken built Tokenlon officially upgraded to an independent decentralized exchange (DEX) . It is reported that, unlike the Kyber protocol that was directly integrated with imToken in the past, this Tokenlon upgrade is based on the 0x protocol and adopts an innovative mechanism of “multiple market price aggregation” to improve transaction speed and user experience.
Tokenlon is imToken's built-in DEX in its 2.0 international version in April 2018. It was originally based on the 0x and Kyber Network protocols, providing users with flash and decentralized order trading services. Although DEX solves the security problem in a way that is trustworthy, there are still defects such as high user threshold, poor transaction liquidity and slow transaction speed . Tokenlon's upgrade independence is designed to address these issues.
imToken told Babbitt that the current number of device users for imToken is nearly 10 million , and Tokenlon is a brand new DEX. In the beta trial run period, the transaction volume exceeds 30 million US dollars (currently Ethereum's DEX weekly trading volume is only more than 40 million US dollars). ), the weekly retention rate is over 70%. User data will remain updated in real time.
- How to build a distributed exchange based on atomic interchange technology using Oraclize
- Free and easy week review 丨 RSA accumulator becomes SNARK system cost reduction weapon, DEX and other applications may become the biggest beneficiaries
- Technical exploration of cross-chain DEX prototypes: How to trade cross-chain assets within a single DEX?
- Will the next DEX supporting 100x leverage really stand out?
- Babbitt Column | Pan Chao: Automated Market Maker DEX Economics
- Talking about PoS, talking about privacy, talking about expansion, talking about DEX...V God actually said so many things with a speech.
The following is the interview content
Babbitt: What are the benefits of Tokenlon and imToken after upgrading independence?
imToken : At present, there are still many shortcomings in DEX technology and experience, especially in the transaction of cross-chain assets, which requires continuous investment in resource research and development. After Tokenlon's independent operation and development, it can focus more on the vertical field of DEX , continuously improve products and make more Many people use DEX. For imToken, you can focus more on the wallet , but both in terms of technology and products, Tokenlon and imToken can complement each other very well .
Babbitt: Why use the “multiple market maker price aggregation mechanism”?
imToken : 0x The protocol itself is very flexible. Multi- marketer price aggregation is a set of mechanisms added on the basis of 0x protocol . At present, the biggest problem of DEX is insufficient liquidity. If DEX adopts the traditional exchange order mode, it is difficult. Providing the most liquidity and good price, So Tokenlon uses the counter quote mode .
Tokenlon is like a currency exchange counter. Users can go to this counter to ask about the exchange rate that they want to exchange tokens. If you accept the exchange rate, you can use the exchange rate for exchange transactions. Tokenlon is the most professional market maker on the market. Business cooperation, after requesting different market makers to aggregate, the optimal order after aggregation will return to the user, and the time required to complete the transaction will not exceed 60s .
This is the multi-market maker price aggregation mechanism, which not only provides users with better prices, but also provides sufficient liquidity for professional market makers. Babbitt: How is user feedback?
imToken : Our weekly user retention rate is over 70%. This is the best feedback that users are willing to use and become our loyal users. In the user experience, the user directly feels the quotation of “what you see is what you get”, which is more humane than the previous Kyber model. Secondly, the price, compared to the centralized exchange, Tokenlon does not withdraw the cash, the assets are always In the hands of users, there is no need to worry about security issues.
During the Beta period, we found that the demand for high-net-worth users to exchange stable coins is very large . These users have the habit of storing currency in the wallet, which saves them the steps and time to centralize the exchange, especially the price. In the case of large fluctuations. Babbitt: imToken has previously introduced TokenFans Token. After Tokenlon is officially independent, will the relationship with TFT change?
imToken : Although DEX will develop as an independent business, it is complementary to imToken. TFT holders as loyal users who have always been concerned about imToken, we will give more. We will have a very important news release in August .
Babbitt: The competition on the track of DEX is fierce. At this point in time, what is the core competitiveness of Tokenlon?
imToken : After 10 months of the first generation DEX experiment, 8 months of second improvement, 3 months of Beta test run, Tokenlon has a blockchain product that can be independently operated. Tokenlon's core competitiveness is to find the balance point of “DEX & CEX”. From the user's point of view, it has achieved a reasonable balance between security and experience with pure technology. From this balance point as an entry point, gradually accumulate user habits and transaction volume, thereby opening the situation of decentralized transactions.
Babbitt: How do you view the future development of DEX?
imToken : Although the current volume of DEX is negligible compared to the volume of centralized exchanges, we have seen that the trading volume of DEX has been steadily increasing, especially in the past six months, the volume of DEX transactions in Ethereum has tripled. the above.
DEX currently has shortcomings in meeting the trading needs of some users, such as cross-chain asset trading, but the current shortcomings of DEX can be caught by technical iterations . The inadequacies of centralized trading, such as the absolute control of users losing assets, cannot be solved. Therefore, we believe that decentralized trading will gradually catch up with centralized trading. Babbitt: What plans does Tokenlon have in the future?
imToken : The short- to medium-term plan includes working with more liquidity contributors to increase more quality assets, better prices, greater transaction depth, open protocols and APIs, allowing more partners to access Tokenlon, regardless of Whether it is an App, Widget, website or API program call, you can get through the fast exchange network.
In the long run, I hope to build Tokenlon into a distributed trading network of digital tokens. It is a free, unrestricted, anti-attack and robust network that attracts mainstream users to use decentralized transactions . Babbitt: What plans does imToken have in the future?
imToken : After Tokenlon goes online, imToken will support more public chains, from wallet asset management to trading, to DApp, to realize a one-stop service platform for blockchain assets. Secondly, we will continue to build deep overseas communities, especially It is the Asian market. Currently, iToken is headquartered in Singapore and will be based in Singapore, radiating the entire Asia-Pacific market .