Tokenlon is trying the best to provide more comprehensive services to cryptocurrency traders. The decentralized service announced integrating liquidity from Uniswap and Curve. It now aggregates SushiSwap as another service as a step toward providing more liquidity. The addition of SushiSwap to the Tokenlon platform surely helps the traders. They will have access to more tokens, and the chance for attracting new users increases, too.
More Liquidity for Decentralized Trading
When a DEX like Tokenlon aggregates new liquidity providers, it can provide more services and tokens. More liquidity helps traders find buyers and sellers more easily. Besides, every new liquidity providers add to the supporting token on the platform. With the addition of SushiSwap to the Tokenlon platform, it will now find the best price for each trade between four liquidity providers.
Uniswap was one of the strategic liquidity providers for Tokenlon. The AMM DEX has added to the platform some weeks ago and has accounted for about 15 percent of aggregated volume in the platform.
Tokenlon has focused on adding as many tokens as possible to the decentralized trading platform. It now supports 1INCH, FARM, DPI, REN, and LRC after adding four liquidity providers. The DEX claims to be working on adding more tokens soon.
The new aggregation with SushiSwap involves supporting tokens of both platforms on each other. According to the announcement:
“Special thanks to the SushiSwap team for supporting our LON/USDT liquidity mining incentive on SushiSwap. 500k LON along with 25k SUSHI is awarded to the liquidity providers of LON/USDT pool.”
As a result of the new aggregation between Tokenlon and SushiSwap, a new liquidity mining phase started. The mining involves the LON token. It’s the second phase of LON mining that began on January 1st and will last for six weeks. Tokenlon says that users can stake Uniswap’s LON/ETH or SushiSwap’s LON/USDT LP tokens to participate in the mining. So, the DEX is leveraging aggregation with two liquidity providers to attract more stakers.
DeFi had a golden year in 2020. Many new services emerged, and most of the old ones experienced significant growth. Partnerships and aggregations are crucial elements in these growths. They help DeFi platforms expand services. More services come with more tokens. New users look for these token swaps as opportunities for more earning.
The new aggregation with SushiSwap indeed helps Tokenlon become a more trustful DEX. They now find the best prices between four sources. As a result, traders have ease of mind when looking for trading pairs.
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