ImToken Work With 0X To launch Tokenlon Decentralized Exchange
On an interview with Blockbeats, Ben He, founder of ImToken, reveal that the wallet service provider now owns 50% of market share with over 2 million monthly active users. He believes that decentralized exchange will hammer centralized ones in the near future.
ImToken is a blockchain startup founded in 2016. The company delivered the first mobile Ethereum wallet in China and soon takes over much of the market share. Somehow the ICO madness in 2017 wouldn’t be possible without ImToken. As wallet is the first step towards the crypto world, there are many options available in the market. But the development team and business around such product are relatively unknown to the public.
“We started to develop ImToken in May 2016. In 2017, with the rapid development of blockchain industry and cryptocurrency market, we also gained rapid growth in the increment market. ImToken currently has 2 million active users and a market share of more than 50%.”
Speaking of the ImToken user, Ben said that
“20% of ImToken users are in possession of 80% of crypto assets. Many of them are early adopters of crypto assets and could be rated as high-net-value investors in financial terms.”
Everything seemed to be working smoothly for the team till the ICO Ban order was released in September 2017. The cooperation with Yunbi was separated and built-in ICO feature was removed from the wallet. So far, OTC trading is not available in the wallet. Instead, the ImToken 2.0 is about to deliver decentralized exchange based on smart contract of Ethereum.
“Actually it is not an exchange. It is a trading service provided in the ImToken 2.0 International Edition called tokenlon. The decentralized trading feature incorporates with third parties service. At present, our decentralized trading protocols include Kyber Network and 0x, both of which are relatively mature decentralized trading services based on Ethereum.”
In addition to the decentralized exchange, ImToken has already issued its own token: Token Fans Token or TFT, which cannot be transferred and will not be traded at exchanges.
“It is just a badge of honor. It is an acknowledgement for our early users and loyal users. “
Holders of TFT can access the 2.0 beta version.