Tokenlon backend server will extract the data from Kyber Network smart contracts on the blockchain to provide up-to-date exchange rate for IEX.
An authorization step is required to execute exchange between ETH and tokens for the first time, the authorization enables Kyber Network smart contract to execute atomic swap on your behalf with other market players. User may terminate the authorization at any time if no further exchanges is required.
Once the IEX order is submitted, it will be broadcasted on the Ethereum blockchain to be mined. As the market prices fluctuates significantly, there is a possibility that the execution of transaction may not be successful. Users may view the final status of the transaction in Exchange History.