What is an exchange

A cryptocurrency exchange is An online platform that facilitates the buying, selling, and trading of digital currencies, also known as cryptocurrencies. It serves as a marketplace where people can exchange one cryptocurrency for another, or convert cryptocurrencies into traditional fiat currencies like dollars or euros. These exchanges act as intermediaries, matching users’ buy and sell orders and executing transactions securely.

For more information about cryptocurrency exchanges, you can refer to: "What is an exchange"

What Is Tokenlon DEX

Tokenlon is a decentralized trading and payment settlement protocol. Tokenlon stands out from other DEXs by using an innovative Request for Quotation (RFQ) architecture.

Tokenlon was founded in 2018 and launched as a decentralized trading platform for imToken, a crypto wallet service. Tokenlon attempts to combine the advantages of centralized and decentralized exchanges.

When it launched, two of the most lauded aspects were its ability to conduct token-to-token transactions, and a feature called instant swaps that provided users with fast settlements at fair prices.

Tokenlon later became the independent decentralized exchange it is today, supporting 129 tokens and offering 208 trading pairs.

The advantages of Tokenlon are:

• No permission required: Anyone can access Tokenlon without permission.
• No trust required: Tokenlon is transparent and secure because its operation only relies on the execution of smart contracts, and users do not need to trust any third party.
• Censorship Resistant: No centralized entity can control or censor who can interact with Tokenlon.
• Stability: Tokenlon is open 24/7, even during protocol upgrades and configurations. The administrator account of Tokenlon, which is responsible for the execution of protocol upgrades and configurations, is a multi-signature account. Therefore, Tokenlon is not affected by single point of operation failure.