Traders exchange funds through request for quotation system built on 0x protocol and aggregated AMMs. Tokenlon collects a trading fee (revenue) from trades.

Tokenlon is a non-custodial exchange protocol built on Ethereum. Tokenlon was founded by imToken team and launched in 2018.

LON tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Tokelon's investors include IDG Capital, Qiming Venture Partners, Breyer Capital, etc.

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# Tokenlon Maximum token supply Methodology

## 1. Overview

The maximum token supply metric represents the theoretical maximum number of Tokenlon tokens that can ever exist according to the protocol's design specifications. This is a static value defined at the protocol level and represents the hard cap built into Tokenlon's tokenomics model. Unlike circulating supply metrics that change over time based on token minting and burning events, the maximum supply is a constant that helps analysts understand the protocol's total token supply ceiling.

## 2. Data sources

This metric relies on protocol-level specifications rather than blockchain event data:
- **Protocol documentation**: Tokenlon's official tokenomics specifications defining the maximum token supply
- **Token contract specifications**: The hard-coded maximum supply limit defined in the token smart contract
- **Protocol launch information**: Official launch date for establishing the metric's start timestamp

## 3. Step-by-step calculation

### Component A: Static supply definition
- **Purpose**: Define the maximum token supply constant and establish the metric timeline
- **Logic**: The calculation uses predetermined protocol constants rather than processing blockchain data. The maximum supply is set to 200,000,000 tokens, representing the total cap defined in Tokenlon's protocol design. The launch timestamp is set to December 22, 2020 at UTC midnight, marking when this supply cap became effective. The timestamp grain is configured for daily reporting to maintain consistency with other time-series metrics.
- **Key fields**: The `token_supply_maximum` field contains the static value of 200,000,000, `timestamp` field marks the protocol launch date, and `timestamp_grain` is set to 'day' for daily metric reporting

### Final aggregation
- **Combining components**: Since this is a single static value, no data combination or aggregation is required
- **Currency conversion**: No currency conversion is needed as this metric represents token count, not monetary value
- **Time aggregation**: The finalize macro implements a forward-fill strategy, ensuring the maximum supply value is available for every day from the launch date forward, creating a consistent daily time series
- **Final calculation**: The final metric value is the static maximum supply of 200,000,000 tokens, applied uniformly across all dates from the protocol launch onwards

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

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Maximum token supply

Maximum token supply

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