Description
Tokenlon is a decentralized token exchange protocol using Request-For-Quote (RFQ) and Request-For-Stream (RFS) models for off-chain price aggregation with on-chain Ethereum settlement. The protocol is based on 0x protocol architecture and consists of TokenlonExchange, MarketMakerProxy, and UserProxy smart contracts. Market makers provide liquidity through individually deployed MMProxy contracts authorized to the 0x ERC20Proxy, with trades executed atomically by the underlying settlement layer.