diff --git a/doc/DIALER.md b/doc/DIALER.md
index eb91038a4d..211f07d101 100644
--- a/doc/DIALER.md
+++ b/doc/DIALER.md
@@ -9,6 +9,7 @@
 * As tokens are limited, DialRequests should be given a prioritized list of Multiaddrs to minimize the potential request time.
 * Once a single Multiaddr Dial has succeeded, all pending dials in that Dial Request should be aborted. All tokens should be immediately released to the Dialer.
 * If all Multiaddr Dials fail, or the DIAL_TIMEOUT max is reached for the entire DialRequest, all in progress dials for that DialRequest should be aborted. All tokens should immediately be released to the Dialer.
+* If a Multiaddr Dial fails and there are no more dials to use its token, that token should be immediately released to the Dialer.
 
 ## Multiaddr Confidence
 
diff --git a/package.json b/package.json
index 755088762d..4c844ac004 100644
--- a/package.json
+++ b/package.json
@@ -42,6 +42,7 @@
   },
   "dependencies": {
     "abort-controller": "^3.0.0",
+    "aggregate-error": "^3.0.1",
     "async": "^2.6.2",
     "async-iterator-all": "^1.0.0",
     "bignumber.js": "^9.0.0",
@@ -67,6 +68,7 @@
     "p-map": "^3.0.0",
     "p-queue": "^6.1.1",
     "p-settle": "^3.1.0",
+    "paramap-it": "^0.1.1",
     "peer-id": "^0.13.4",
     "peer-info": "^0.17.0",
     "promisify-es6": "^1.0.3",
diff --git a/src/constants.js b/src/constants.js
index 72c442d275..a66926b18c 100644
--- a/src/constants.js
+++ b/src/constants.js
@@ -6,6 +6,7 @@ module.exports = {
   DIAL_TIMEOUT: 30e3, // How long in ms a dial attempt is allowed to take
   MAX_COLD_CALLS: 50, // How many dials w/o protocols that can be queued
   MAX_PARALLEL_DIALS: 100, // Maximum allowed concurrent dials
+  PER_PEER_LIMIT: 4, // Allowed parallel dials per DialRequest
   QUARTER_HOUR: 15 * 60e3,
   PRIORITY_HIGH: 10,
   PRIORITY_LOW: 20
diff --git a/src/dialer.js b/src/dialer.js
index 2154554fa6..1766e28de2 100644
--- a/src/dialer.js
+++ b/src/dialer.js
@@ -1,19 +1,20 @@
 'use strict'
 
-const nextTick = require('async/nextTick')
 const multiaddr = require('multiaddr')
 const errCode = require('err-code')
-const { default: PQueue } = require('p-queue')
 const AbortController = require('abort-controller')
+const delay = require('delay')
 const debug = require('debug')
 const log = debug('libp2p:dialer')
 log.error = debug('libp2p:dialer:error')
-const PeerId = require('peer-id')
+const { DialRequest } = require('./dialer/dial-request')
+const { anySignal } = require('./util')
 
 const { codes } = require('./errors')
 const {
+  DIAL_TIMEOUT,
   MAX_PARALLEL_DIALS,
-  DIAL_TIMEOUT
+  PER_PEER_LIMIT
 } = require('./constants')
 
 class Dialer {
@@ -29,74 +30,76 @@ class Dialer {
     transportManager,
     peerStore,
     concurrency = MAX_PARALLEL_DIALS,
-    timeout = DIAL_TIMEOUT
+    timeout = DIAL_TIMEOUT,
+    perPeerLimit = PER_PEER_LIMIT
   }) {
     this.transportManager = transportManager
     this.peerStore = peerStore
     this.concurrency = concurrency
     this.timeout = timeout
-    this.queue = new PQueue({ concurrency, timeout, throwOnTimeout: true })
+    this.perPeerLimit = perPeerLimit
+    this.tokens = [...new Array(concurrency)].map((_, index) => index)
 
-    /**
-     * @property {IdentifyService}
-     */
-    this._identifyService = null
-  }
-
-  set identifyService (service) {
-    this._identifyService = service
-  }
-
-  /**
-   * @type {IdentifyService}
-   */
-  get identifyService () {
-    return this._identifyService
+    this.releaseToken = this.releaseToken.bind(this)
   }
 
   /**
    * Connects to a given `Multiaddr`. `addr` should include the id of the peer being
    * dialed, it will be used for encryption verification.
    *
-   * @async
    * @param {Multiaddr} addr The address to dial
    * @param {object} [options]
    * @param {AbortSignal} [options.signal] An AbortController signal
    * @returns {Promise<Connection>}
    */
-  async connectToMultiaddr (addr, options = {}) {
+  connectToMultiaddr (addr, options = {}) {
     addr = multiaddr(addr)
-    let conn
-    let controller
 
-    if (!options.signal) {
-      controller = new AbortController()
-      options.signal = controller.signal
-    }
+    return this.connectToMultiaddrs([addr], options)
+  }
+
+  /**
+   * Connects to the first success of a given list of `Multiaddr`. `addrs` should
+   * include the id of the peer being dialed, it will be used for encryption verification.
+   *
+   * @param {Array<Multiaddr>} addrs
+   * @param {object} [options]
+   * @param {AbortSignal} [options.signal] An AbortController signal
+   * @returns {Promise<Connection>}
+   */
+  async connectToMultiaddrs (addrs, options = {}) {
+    const dialAction = (addr, options) => this.transportManager.dial(addr, options)
+    const dialRequest = new DialRequest({
+      addrs,
+      dialAction,
+      dialer: this
+    })
+
+    // Combine the timeout signal and options.signal, if provided
+    const timeoutController = new AbortController()
+    const signals = [timeoutController.signal]
+    options.signal && signals.push(options.signal)
+    const signal = anySignal(signals)
+    const timeoutPromise = delay.reject(this.timeout, {
+      value: errCode(new Error('Dial timed out'), codes.ERR_TIMEOUT)
+    })
 
     try {
-      conn = await this.queue.add(() => this.transportManager.dial(addr, options))
+      // Race the dial request and the timeout
+      const dialResult = await Promise.race([
+        dialRequest.run({
+          ...options,
+          signal
+        }),
+        timeoutPromise
+      ])
+      timeoutPromise.clear()
+      return dialResult
     } catch (err) {
-      if (err.name === 'TimeoutError') {
-        controller.abort()
-        err.code = codes.ERR_TIMEOUT
-      }
-      log.error('Error dialing address %s,', addr, err)
+      log.error(err)
+      timeoutController.abort()
       throw err
     }
-
-    // Perform a delayed Identify handshake
-    if (this.identifyService) {
-      nextTick(async () => {
-        try {
-          await this.identifyService.identify(conn, conn.remotePeer)
-        } catch (err) {
-          log.error(err)
-        }
-      })
-    }
-
-    return conn
   }
 
   /**
@@ -104,31 +107,57 @@ class Dialer {
    * The dial to the first address that is successfully able to upgrade a connection
    * will be used.
    *
-   * @async
-   * @param {PeerInfo|PeerId} peer The remote peer to dial
+   * @param {PeerId} peerId The remote peer id to dial
    * @param {object} [options]
    * @param {AbortSignal} [options.signal] An AbortController signal
    * @returns {Promise<Connection>}
    */
-  async connectToPeer (peer, options = {}) {
-    if (PeerId.isPeerId(peer)) {
-      peer = this.peerStore.get(peer.toB58String())
-    }
+  connectToPeer (peerId, options = {}) {
+    const addrs = this.peerStore.multiaddrsForPeer(peerId)
 
-    const addrs = peer.multiaddrs.toArray()
-    for (const addr of addrs) {
-      try {
-        return await this.connectToMultiaddr(addr, options)
-      } catch (_) {
-        // The error is already logged, just move to the next addr
-        continue
-      }
-    }
+    // TODO: ensure the peer id is on the multiaddr
+
+    return this.connectToMultiaddrs(addrs, options)
+  }
 
-    const err = errCode(new Error('Could not dial peer, all addresses failed'), codes.ERR_CONNECTION_FAILED)
-    log.error(err)
-    throw err
+  getTokens (num) {
+    const total = Math.min(num, this.perPeerLimit, this.tokens.length)
+    const tokens = this.tokens.splice(0, total)
+    log('%d tokens request, returning %d, %d remaining', num, total, this.tokens.length)
+    return tokens
+  }
+
+  releaseToken (token) {
+    log('token %d released', token)
+    this.tokens.push(token)
   }
 }
 
 module.exports = Dialer
+
+// class ActionLimiter {
+//   constructor(actions, options = {}) {
+//     this.actions = actions
+//     this.limit = options.limit || 4
+//     this.controller = options.controller || new AbortController()
+//   }
+//   async abort () {
+//     this.controller.abort()
+//   }
+//   async run () {
+//     const limit = pLimit(this.limit)
+//     let result
+//     try {
+//       result = await pAny(this.actions.map(action => limit(action)))
+//     } catch (err) {
+//       console.log(err)
+//       if (!err.code) err.code = codes.ERR_CONNECTION_FAILED
+//       log.error(err)
+//       throw err
+//     } finally {
+//       console.log('RES', result)
+//       this.controller.abort()
+//     }
+//     return result
+//   }
+// }
diff --git a/src/dialer/dial-request.js b/src/dialer/dial-request.js
new file mode 100644
index 0000000000..e45282bdc8
--- /dev/null
+++ b/src/dialer/dial-request.js
@@ -0,0 +1,197 @@
+'use strict'
+
+const AbortController = require('abort-controller')
+const AggregateError = require('aggregate-error')
+const pDefer = require('p-defer')
+const debug = require('debug')
+const log = debug('libp2p:dialer:request')
+log.error = debug('libp2p:dialer:request:error')
+const { AbortError } = require('libp2p-interfaces/src/transport/errors')
+
+const { anySignal } = require('../util')
+const { TokenHolder } = require('./token-holder')
+
+class DialRequest {
+  /**
+   *
+   * @param {object} options
+   * @param {Multiaddr[]} options.addrs
+   * @param {TransportManager} options.transportManager
+   * @param {Dialer} options.dialer
+   */
+  constructor ({
+    addrs,
+    dialAction,
+    dialer
+  }) {
+    this.addrs = addrs
+    this.dialer = dialer
+    this.dialAction = dialAction
+  }
+
+  /**
+   * @async
+   * @param {object} options
+   * @param {AbortSignal} options.signal An AbortController signal
+   * @param {number} options.timeout The max dial time for each request
+   * @returns {Connection}
+   */
+  async run (options) {
+    // Determine how many tokens we need
+    const tokensWanted = Math.min(this.addrs.length, this.dialer.perPeerLimit)
+    // Get the tokens
+    const tokens = this.dialer.getTokens(tokensWanted)
+    // If no tokens are available, throw
+    if (tokens.length < 1) {
+      throw Object.assign(new Error('No dial tokens available'), { code: 'ERR_NO_DIAL_TOKENS' })
+    }
+
+    // For every token, run a multiaddr dial
+    // If there are tokens left, release them
+    // If there are multiaddrs left, wait for tokens to finish
+    const th = new TokenHolder(tokens, this.dialer.releaseToken)
+
+    // Create the dial functions
+    const dials = this.addrs.map(addr => {
+      return () => this._abortableDial(addr, options)
+    })
+
+    const dialResolver = new DialResolver()
+    while (dials.length > 0) {
+      if (dialResolver.finished) break
+      // Wait for the next available token
+      const token = await th.getToken()
+      const dial = dials.shift()
+      dialResolver.add(dial, () => th.releaseToken(token))
+    }
+
+    // Start giving back the tokens
+    th.drain()
+    // Flush all the dials to get the final response
+    return dialResolver.flush()
+  }
+
+  /**
+   * @private
+   * @param {Multiaddr} addr
+   * @param {object} options
+   * @param {AbortSignal} options.signal An AbortController signal
+   * @param {number} options.timeout The max dial time for each request
+   * @returns {{abort: function(), promise: Promise<Connection>}} An AbortableDial
+   */
+  _abortableDial (addr, options) {
+    log('starting dial to %s', addr)
+    const controller = new AbortController()
+    const signals = [controller.signal]
+    options.signal && signals.push(options.signal)
+    const signal = anySignal([controller.signal, options.signal])
+
+    const promise = this.dialAction(addr, { signal, timeout: options.timeout })
+    return {
+      abort: () => controller.abort(),
+      promise
+    }
+  }
+}
+
+class DialResolver {
+  constructor () {
+    this.dials = new Set()
+    this.errors = []
+    this.finished = false
+    this.didFlush = false
+    this._waiting = null
+  }
+
+  /**
+   * Adds a dial function to the resolver. The function will be immediately
+   * executed and its resolution tracked.
+   * @async
+   * @param {function()} dial A function that returns an AbortableDial
+   * @param {function()} [finallyHandler] Called when the dial resolves or rejects
+   */
+  async add (dial, finallyHandler) {
+    if (this.finished) return
+    const abortableDial = dial()
+    this.dials.add(abortableDial)
+    try {
+      this._onResolve(await abortableDial.promise)
+    } catch (err) {
+      this._onReject(err)
+    } finally {
+      this._onFinally(abortableDial)
+      finallyHandler && finallyHandler()
+    }
+  }
+
+  /**
+   * Called when a dial resolves
+   * @param {Connection} result
+   */
+  _onResolve (result) {
+    this.result = result
+  }
+
+  /**
+   * Called when a dial rejects
+   * @param {Error} err
+   */
+  _onReject (err) {
+    if (err.code === AbortError.code) return
+    this.errors.push(err)
+  }
+
+  _onFinally (dial) {
+    this.dials.delete(dial)
+    // If we have a result, or all dials have finished
+    if (this.result || (this._waiting && this.dials.size === 0)) {
+      this._onFinish()
+    }
+  }
+
+  /**
+   * Called when dialing is completed, which means one of:
+   * 1. One dial succeeded
+   * 2. All dials failed
+   * 3. All dials were aborted
+   * @private
+   */
+  _onFinish () {
+    this.finished = true
+    // Abort all remaining dials
+    for (const abortableDial of this.dials) {
+      abortableDial.abort()
+    }
+    this.dials.clear()
+
+    // Flush must be called
+    if (!this._waiting) return
+    // If we have a result, or an abort occurred (no errors and no result)
+    if (this.result || this.errors.length === 0) {
+      this._waiting.resolve(this.result)
+    } else {
+      this._waiting.reject(new AggregateError(this.errors))
+    }
+  }
+
+  /**
+   * Flushes any remaining dials and resolves the first
+   * successful `Connection`. Flush should be called after all
+   * dials have been added.
+   * @returns {Promise<Connection>}
+   */
+  flush () {
+    if (this.finished) {
+      if (this.result) {
+        return Promise.resolve(this.result)
+      } else {
+        return Promise.reject(new AggregateError(this.errors))
+      }
+    }
+    this._waiting = pDefer()
+    return this._waiting.promise
+  }
+}
+
+module.exports.DialResolver = DialResolver
+module.exports.DialRequest = DialRequest
diff --git a/src/dialer/token-holder.js b/src/dialer/token-holder.js
new file mode 100644
index 0000000000..acef56e296
--- /dev/null
+++ b/src/dialer/token-holder.js
@@ -0,0 +1,63 @@
+'use strict'
+
+/**
+ * @class TokenHolder
+ * @example
+ * const th = new TokenHolder(tokens, dialer.releaseToken)
+ * for (const action of actions) {
+ *   const token = await th.getToken()
+ *   action(token).then(() => th.releaseToken(token))
+ * }
+ *
+ * await th.drain()
+ */
+class TokenHolder {
+  /**
+   * @param {Array<*>} tokens Tokens to track
+   * @param {function(*)} release Called when releasing control of the tokens
+   */
+  constructor (tokens, release) {
+    this.originalTokens = tokens
+    this.tokens = [...tokens]
+    this._release = release
+  }
+
+  /**
+   * Resolves a token once once is available. Once the token is no
+   * longer needed it MUST be release with `releaseToken()`.
+   * @returns {Promise<*>}
+   */
+  getToken () {
+    if (this.tokens.length) return Promise.resolve(this.tokens.shift())
+    return new Promise(resolve => {
+      const _push = this.tokens.push
+      this.tokens.push = (token) => {
+        this.tokens.push = _push
+        resolve(token)
+      }
+    })
+  }
+
+  /**
+   * Makes the token available via `getToken()`
+   * @param {*} token
+   */
+  releaseToken (token) {
+    this.tokens.push(token)
+  }
+
+  /**
+   * Once tokens are no longer needed for a series of actions,
+   * drain will release them to the owner via `this._release()`
+   */
+  async drain () {
+    let drained = 0
+    while (drained < this.originalTokens.length) {
+      this._release(await this.getToken())
+      // Remove the token
+      drained++
+    }
+  }
+}
+
+module.exports.TokenHolder = TokenHolder
diff --git a/src/index.js b/src/index.js
index 9d99228c55..609edd32b7 100644
--- a/src/index.js
+++ b/src/index.js
@@ -57,6 +57,12 @@ class Libp2p extends EventEmitter {
         const peerInfo = this.peerStore.put(new PeerInfo(connection.remotePeer))
         this.registrar.onConnect(peerInfo, connection)
         this.emit('peer:connect', peerInfo)
+
+        // Run identify for every connection
+        if (this.identifyService) {
+          this.identifyService.identify(connection, connection.remotePeer)
+            .catch(log.error)
+        }
       },
       onConnectionEnd: (connection) => {
         const peerInfo = getPeerInfo(connection.remotePeer)
@@ -104,12 +110,12 @@ class Libp2p extends EventEmitter {
       })
 
       // Add the identify service since we can multiplex
-      this.dialer.identifyService = new IdentifyService({
+      this.identifyService = new IdentifyService({
         registrar: this.registrar,
         peerInfo: this.peerInfo,
         protocols: this.upgrader.protocols
       })
-      this.handle(Object.values(IDENTIFY_PROTOCOLS), this.dialer.identifyService.handleMessage)
+      this.handle(Object.values(IDENTIFY_PROTOCOLS), this.identifyService.handleMessage)
     }
 
     // Attach private network protector
@@ -236,7 +242,7 @@ class Libp2p extends EventEmitter {
       connection = await this.dialer.connectToMultiaddr(peer, options)
     } else {
       peer = await getPeerInfoRemote(peer, this)
-      connection = await this.dialer.connectToPeer(peer, options)
+      connection = await this.dialer.connectToPeer(peer.id, options)
     }
 
     const peerInfo = getPeerInfo(connection.remotePeer)
@@ -293,8 +299,8 @@ class Libp2p extends EventEmitter {
     })
 
     // Only push if libp2p is running
-    if (this.isStarted()) {
-      this.dialer.identifyService.pushToPeerStore(this.peerStore)
+    if (this.isStarted() && this.identifyService) {
+      this.identifyService.pushToPeerStore(this.peerStore)
     }
   }
 
@@ -310,8 +316,8 @@ class Libp2p extends EventEmitter {
     })
 
     // Only push if libp2p is running
-    if (this.isStarted()) {
-      this.dialer.identifyService.pushToPeerStore(this.peerStore)
+    if (this.isStarted() && this.identifyService) {
+      this.identifyService.pushToPeerStore(this.peerStore)
     }
   }
 
diff --git a/src/peer-store/index.js b/src/peer-store/index.js
index 27f6d5929e..321fd204e9 100644
--- a/src/peer-store/index.js
+++ b/src/peer-store/index.js
@@ -217,6 +217,16 @@ class PeerStore extends EventEmitter {
       protocols: Array.from(peerInfo.protocols)
     })
   }
+
+  /**
+   * Returns the known multiaddrs for a given `PeerId`
+   * @param {PeerId} peerId
+   * @returns {Array<Multiaddr>}
+   */
+  multiaddrsForPeer (peerId) {
+    const peerInfo = this.get(peerId.toB58String())
+    return peerInfo.multiaddrs.toArray()
+  }
 }
 
 module.exports = PeerStore
diff --git a/src/util/index.js b/src/util/index.js
index bca13a4530..a53d537ef5 100644
--- a/src/util/index.js
+++ b/src/util/index.js
@@ -1,5 +1,7 @@
 'use strict'
 
+const AbortController = require('abort-controller')
+
 /**
  * Converts BufferList messages to Buffers
  * @param {*} source
@@ -13,4 +15,34 @@ function toBuffer (source) {
   })()
 }
 
+/**
+ * Takes an array of AbortSignals and returns a single signal.
+ * If any signals are aborted, the returned signal will be aborted.
+ * @param {Array<AbortSignal>} signals
+ * @returns {AbortSignal}
+ */
+function anySignal (signals) {
+  const controller = new AbortController()
+
+  function onAbort () {
+    controller.abort()
+
+    // Cleanup
+    for (const signal of signals) {
+      signal.removeEventListener('abort', onAbort)
+    }
+  }
+
+  for (const signal of signals) {
+    if (signal.aborted) {
+      onAbort()
+      break
+    }
+    signal.addEventListener('abort', onAbort)
+  }
+
+  return controller.signal
+}
+
 module.exports.toBuffer = toBuffer
+module.exports.anySignal = anySignal
diff --git a/test/dialing/dial-resolver.spec.js b/test/dialing/dial-resolver.spec.js
new file mode 100644
index 0000000000..105b71e211
--- /dev/null
+++ b/test/dialing/dial-resolver.spec.js
@@ -0,0 +1,83 @@
+'use strict'
+/* eslint-env mocha */
+
+const chai = require('chai')
+chai.use(require('dirty-chai'))
+chai.use(require('chai-as-promised'))
+const { expect } = chai
+const sinon = require('sinon')
+const pDefer = require('p-defer')
+const pWaitFor = require('p-wait-for')
+const AggregateError = require('aggregate-error')
+const { AbortError } = require('libp2p-interfaces/src/transport/errors')
+
+const { DialResolver } = require('../../src/dialer/dial-request')
+
+const mockAbortableDial = () => {
+  const deferred = pDefer()
+  function dial () {
+    return {
+      promise: deferred.promise,
+      abort: () => deferred.reject(new AbortError())
+    }
+  }
+  dial.reject = deferred.reject
+  dial.resolve = deferred.resolve
+  return dial
+}
+
+describe('DialResolver', () => {
+  it('should not run subsequent dials if finished', async () => {
+    const deferred = pDefer()
+    const dial = sinon.stub().callsFake(() => {
+      return deferred
+    })
+    const dialResolver = new DialResolver()
+    dialResolver.add(dial)
+    deferred.resolve(true)
+
+    await pWaitFor(() => dialResolver.finished === true)
+
+    dialResolver.add(dial)
+    expect(dial.callCount).to.equal(1)
+  })
+
+  it('.flush should throw if all dials errored', async () => {
+    const dialResolver = new DialResolver()
+    const dials = [
+      mockAbortableDial(),
+      mockAbortableDial(),
+      mockAbortableDial()
+    ]
+    for (const dial of dials) {
+      dialResolver.add(dial)
+      dial.reject(new Error('transport error'))
+    }
+
+    await expect(dialResolver.flush()).to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors.length', 3)
+  })
+
+  it('.flush should resolve the successful dial', async () => {
+    const dialResolver = new DialResolver()
+    const mockConn = {}
+    const dials = [
+      mockAbortableDial(),
+      mockAbortableDial(),
+      mockAbortableDial()
+    ]
+
+    // Make the first succeed
+    const successfulDial = dials.shift()
+    dialResolver.add(successfulDial)
+    successfulDial.resolve(mockConn)
+
+    // Error the rest
+    for (const dial of dials) {
+      dialResolver.add(dial)
+      dial.reject(new Error('transport error'))
+    }
+
+    await expect(dialResolver.flush()).to.eventually.be(mockConn)
+  })
+})
diff --git a/test/dialing/direct.node.js b/test/dialing/direct.node.js
index 8fbe5d7944..fa903e2f4b 100644
--- a/test/dialing/direct.node.js
+++ b/test/dialing/direct.node.js
@@ -15,6 +15,7 @@ const PeerInfo = require('peer-info')
 const delay = require('delay')
 const pDefer = require('p-defer')
 const pipe = require('it-pipe')
+const AggregateError = require('aggregate-error')
 
 const Libp2p = require('../../src')
 const Dialer = require('../../src/dialer')
@@ -79,15 +80,19 @@ describe('Dialing (direct, TCP)', () => {
     const dialer = new Dialer({ transportManager: localTM })
 
     await expect(dialer.connectToMultiaddr(unsupportedAddr))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', ErrorCodes.ERR_TRANSPORT_UNAVAILABLE)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', ErrorCodes.ERR_TRANSPORT_UNAVAILABLE)
   })
 
   it('should be able to connect to a given peer info', async () => {
-    const dialer = new Dialer({ transportManager: localTM })
+    const dialer = new Dialer({
+      transportManager: localTM,
+      peerStore: {
+        multiaddrsForPeer: () => [remoteAddr]
+      }
+    })
     const peerId = await PeerId.createFromJSON(Peers[0])
     const peerInfo = new PeerInfo(peerId)
-    peerInfo.multiaddrs.add(remoteAddr)
 
     const connection = await dialer.connectToPeer(peerInfo)
     expect(connection).to.exist()
@@ -112,14 +117,18 @@ describe('Dialing (direct, TCP)', () => {
   })
 
   it('should fail to connect to a given peer with unsupported addresses', async () => {
-    const dialer = new Dialer({ transportManager: localTM })
+    const dialer = new Dialer({
+      transportManager: localTM,
+      peerStore: {
+        multiaddrsForPeer: () => [unsupportedAddr]
+      }
+    })
     const peerId = await PeerId.createFromJSON(Peers[0])
     const peerInfo = new PeerInfo(peerId)
-    peerInfo.multiaddrs.add(unsupportedAddr)
 
     await expect(dialer.connectToPeer(peerInfo))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', ErrorCodes.ERR_CONNECTION_FAILED)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', ErrorCodes.ERR_TRANSPORT_UNAVAILABLE)
   })
 
   it('should abort dials on queue task timeout', async () => {
@@ -136,7 +145,7 @@ describe('Dialing (direct, TCP)', () => {
     })
 
     await expect(dialer.connectToMultiaddr(remoteAddr))
-      .to.eventually.be.rejected()
+      .to.eventually.be.rejectedWith(Error)
       .and.to.have.property('code', ErrorCodes.ERR_TIMEOUT)
   })
 
@@ -146,25 +155,21 @@ describe('Dialing (direct, TCP)', () => {
       concurrency: 2
     })
 
+    expect(dialer.tokens).to.have.length(2)
+
     const deferredDial = pDefer()
     sinon.stub(localTM, 'dial').callsFake(async () => {
       await deferredDial.promise
     })
 
-    // Add 3 dials
-    Promise.all([
-      dialer.connectToMultiaddr(remoteAddr),
-      dialer.connectToMultiaddr(remoteAddr),
-      dialer.connectToMultiaddr(remoteAddr)
-    ])
+    // Perform 3 multiaddr dials
+    dialer.connectToMultiaddrs([remoteAddr, remoteAddr, remoteAddr])
 
     // Let the call stack run
     await delay(0)
 
     // We should have 2 in progress, and 1 waiting
-    expect(localTM.dial.callCount).to.equal(2)
-    expect(dialer.queue.pending).to.equal(2)
-    expect(dialer.queue.size).to.equal(1)
+    expect(dialer.tokens).to.have.length(0)
 
     deferredDial.resolve()
 
@@ -172,8 +177,7 @@ describe('Dialing (direct, TCP)', () => {
     await delay(0)
     // All dials should have executed
     expect(localTM.dial.callCount).to.equal(3)
-    expect(dialer.queue.pending).to.equal(0)
-    expect(dialer.queue.size).to.equal(0)
+    expect(dialer.tokens).to.have.length(2)
   })
 
   describe('libp2p.dialer', () => {
@@ -214,7 +218,7 @@ describe('Dialing (direct, TCP)', () => {
 
     after(() => remoteLibp2p.stop())
 
-    it('should use the dialer for connecting', async () => {
+    it('should use the dialer for connecting to a multiaddr', async () => {
       libp2p = new Libp2p({
         peerInfo,
         modules: {
@@ -235,6 +239,29 @@ describe('Dialing (direct, TCP)', () => {
       expect(libp2p.dialer.connectToMultiaddr.callCount).to.equal(1)
     })
 
+    it('should use the dialer for connecting to a peer', async () => {
+      libp2p = new Libp2p({
+        peerInfo,
+        modules: {
+          transport: [Transport],
+          streamMuxer: [Muxer],
+          connEncryption: [Crypto]
+        }
+      })
+
+      sinon.spy(libp2p.dialer, 'connectToMultiaddrs')
+      const remotePeer = new PeerInfo(remoteLibp2p.peerInfo.id)
+      remotePeer.multiaddrs.add(remoteAddr)
+
+      const connection = await libp2p.dial(remotePeer)
+      expect(connection).to.exist()
+      const { stream, protocol } = await connection.newStream('/echo/1.0.0')
+      expect(stream).to.exist()
+      expect(protocol).to.equal('/echo/1.0.0')
+      await connection.close()
+      expect(libp2p.dialer.connectToMultiaddrs.callCount).to.equal(1)
+    })
+
     it('should be able to use hangup to close connections', async () => {
       libp2p = new Libp2p({
         peerInfo,
diff --git a/test/dialing/direct.spec.js b/test/dialing/direct.spec.js
index 57ff1d0048..ad538251a6 100644
--- a/test/dialing/direct.spec.js
+++ b/test/dialing/direct.spec.js
@@ -7,6 +7,7 @@ chai.use(require('chai-as-promised'))
 const { expect } = chai
 const sinon = require('sinon')
 const pDefer = require('p-defer')
+const pWaitFor = require('p-wait-for')
 const delay = require('delay')
 const Transport = require('libp2p-websockets')
 const Muxer = require('libp2p-mplex')
@@ -14,6 +15,7 @@ const Crypto = require('libp2p-secio')
 const multiaddr = require('multiaddr')
 const PeerId = require('peer-id')
 const PeerInfo = require('peer-info')
+const AggregateError = require('aggregate-error')
 
 const { codes: ErrorCodes } = require('../../src/errors')
 const Constants = require('../../src/constants')
@@ -49,6 +51,22 @@ describe('Dialing (direct, WebSockets)', () => {
     expect(dialer.timeout).to.equal(Constants.DIAL_TIMEOUT)
   })
 
+  it('should limit the number of tokens it provides', () => {
+    const dialer = new Dialer({ transportManager: localTM })
+    const maxPerPeer = Constants.PER_PEER_LIMIT
+    expect(dialer.tokens).to.have.length(Constants.MAX_PARALLEL_DIALS)
+    const tokens = dialer.getTokens(maxPerPeer + 1)
+    expect(tokens).to.have.length(maxPerPeer)
+    expect(dialer.tokens).to.have.length(Constants.MAX_PARALLEL_DIALS - maxPerPeer)
+  })
+
+  it('should not return tokens if non are left', () => {
+    const dialer = new Dialer({ transportManager: localTM })
+    sinon.stub(dialer, 'tokens').value([])
+    const tokens = dialer.getTokens(1)
+    expect(tokens.length).to.equal(0)
+  })
+
   it('should be able to connect to a remote node via its multiaddr', async () => {
     const dialer = new Dialer({ transportManager: localTM })
 
@@ -69,30 +87,36 @@ describe('Dialing (direct, WebSockets)', () => {
     const dialer = new Dialer({ transportManager: localTM })
 
     await expect(dialer.connectToMultiaddr(unsupportedAddr))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', ErrorCodes.ERR_TRANSPORT_DIAL_FAILED)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', ErrorCodes.ERR_TRANSPORT_DIAL_FAILED)
   })
 
   it('should be able to connect to a given peer', async () => {
-    const dialer = new Dialer({ transportManager: localTM })
+    const dialer = new Dialer({
+      transportManager: localTM,
+      peerStore: {
+        multiaddrsForPeer: () => [remoteAddr]
+      }
+    })
     const peerId = await PeerId.createFromJSON(Peers[0])
-    const peerInfo = new PeerInfo(peerId)
-    peerInfo.multiaddrs.add(remoteAddr)
 
-    const connection = await dialer.connectToPeer(peerInfo)
+    const connection = await dialer.connectToPeer(peerId)
     expect(connection).to.exist()
     await connection.close()
   })
 
   it('should fail to connect to a given peer with unsupported addresses', async () => {
-    const dialer = new Dialer({ transportManager: localTM })
+    const dialer = new Dialer({
+      transportManager: localTM,
+      peerStore: {
+        multiaddrsForPeer: () => [unsupportedAddr]
+      }
+    })
     const peerId = await PeerId.createFromJSON(Peers[0])
-    const peerInfo = new PeerInfo(peerId)
-    peerInfo.multiaddrs.add(unsupportedAddr)
 
-    await expect(dialer.connectToPeer(peerInfo))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', ErrorCodes.ERR_CONNECTION_FAILED)
+    await expect(dialer.connectToPeer(peerId))
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', ErrorCodes.ERR_TRANSPORT_DIAL_FAILED)
   })
 
   it('should abort dials on queue task timeout', async () => {
@@ -119,25 +143,21 @@ describe('Dialing (direct, WebSockets)', () => {
       concurrency: 2
     })
 
+    expect(dialer.tokens).to.have.length(2)
+
     const deferredDial = pDefer()
     sinon.stub(localTM, 'dial').callsFake(async () => {
       await deferredDial.promise
     })
 
-    // Add 3 dials
-    Promise.all([
-      dialer.connectToMultiaddr(remoteAddr),
-      dialer.connectToMultiaddr(remoteAddr),
-      dialer.connectToMultiaddr(remoteAddr)
-    ])
+    // Perform 3 multiaddr dials
+    dialer.connectToMultiaddrs([remoteAddr, remoteAddr, remoteAddr])
 
     // Let the call stack run
     await delay(0)
 
     // We should have 2 in progress, and 1 waiting
-    expect(localTM.dial.callCount).to.equal(2)
-    expect(dialer.queue.pending).to.equal(2)
-    expect(dialer.queue.size).to.equal(1)
+    expect(dialer.tokens).to.have.length(0)
 
     deferredDial.resolve()
 
@@ -145,8 +165,7 @@ describe('Dialing (direct, WebSockets)', () => {
     await delay(0)
     // All dials should have executed
     expect(localTM.dial.callCount).to.equal(3)
-    expect(dialer.queue.pending).to.equal(0)
-    expect(dialer.queue.size).to.equal(0)
+    expect(dialer.tokens).to.have.length(2)
   })
 
   describe('libp2p.dialer', () => {
@@ -215,16 +234,18 @@ describe('Dialing (direct, WebSockets)', () => {
         }
       })
 
-      sinon.spy(libp2p.dialer.identifyService, 'identify')
+      sinon.spy(libp2p.identifyService, 'identify')
       sinon.spy(libp2p.peerStore, 'replace')
       sinon.spy(libp2p.upgrader, 'onConnection')
 
       const connection = await libp2p.dialer.connectToMultiaddr(remoteAddr)
       expect(connection).to.exist()
-      // Wait for setImmediate to trigger the identify call
-      await delay(1)
-      expect(libp2p.dialer.identifyService.identify.callCount).to.equal(1)
-      await libp2p.dialer.identifyService.identify.firstCall.returnValue
+
+      // Wait for onConnection to be called
+      await pWaitFor(() => libp2p.upgrader.onConnection.callCount === 1)
+
+      expect(libp2p.identifyService.identify.callCount).to.equal(1)
+      await libp2p.identifyService.identify.firstCall.returnValue
 
       expect(libp2p.peerStore.replace.callCount).to.equal(1)
     })
diff --git a/test/dialing/relay.node.js b/test/dialing/relay.node.js
index 8eb0be2dfd..b5ce59522f 100644
--- a/test/dialing/relay.node.js
+++ b/test/dialing/relay.node.js
@@ -10,6 +10,7 @@ const sinon = require('sinon')
 const multiaddr = require('multiaddr')
 const { collect } = require('streaming-iterables')
 const pipe = require('it-pipe')
+const AggregateError = require('aggregate-error')
 const { createPeerInfo } = require('../utils/creators/peer')
 const baseOptions = require('../utils/base-options')
 const Libp2p = require('../../src')
@@ -93,8 +94,8 @@ describe('Dialing (via relay, TCP)', () => {
       .encapsulate(`/p2p-circuit/p2p/${dstLibp2p.peerInfo.id.toString()}`)
 
     await expect(srcLibp2p.dial(dialAddr))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', Errors.ERR_HOP_REQUEST_FAILED)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', Errors.ERR_HOP_REQUEST_FAILED)
   })
 
   it('should not stay connected to a relay when not already connected and HOP fails', async () => {
@@ -106,8 +107,8 @@ describe('Dialing (via relay, TCP)', () => {
       .encapsulate(`/p2p-circuit/p2p/${dstLibp2p.peerInfo.id.toString()}`)
 
     await expect(srcLibp2p.dial(dialAddr))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', Errors.ERR_HOP_REQUEST_FAILED)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', Errors.ERR_HOP_REQUEST_FAILED)
 
     // We should not be connected to the relay, because we weren't before the dial
     const srcToRelayConn = srcLibp2p.registrar.getConnection(relayLibp2p.peerInfo)
@@ -125,8 +126,8 @@ describe('Dialing (via relay, TCP)', () => {
     await srcLibp2p.dial(relayAddr)
 
     await expect(srcLibp2p.dial(dialAddr))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', Errors.ERR_HOP_REQUEST_FAILED)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', Errors.ERR_HOP_REQUEST_FAILED)
 
     const srcToRelayConn = srcLibp2p.registrar.getConnection(relayLibp2p.peerInfo)
     expect(srcToRelayConn).to.exist()
@@ -152,8 +153,8 @@ describe('Dialing (via relay, TCP)', () => {
     }])
 
     await expect(srcLibp2p.dial(dialAddr))
-      .to.eventually.be.rejected()
-      .and.to.have.property('code', Errors.ERR_HOP_REQUEST_FAILED)
+      .to.eventually.be.rejectedWith(AggregateError)
+      .and.to.have.nested.property('._errors[0].code', Errors.ERR_HOP_REQUEST_FAILED)
 
     const dstToRelayConn = dstLibp2p.registrar.getConnection(relayLibp2p.peerInfo)
     expect(dstToRelayConn).to.exist()
diff --git a/test/identify/index.spec.js b/test/identify/index.spec.js
index d39ac0e295..5eede683db 100644
--- a/test/identify/index.spec.js
+++ b/test/identify/index.spec.js
@@ -197,15 +197,15 @@ describe('Identify', () => {
         peerInfo
       })
 
-      sinon.spy(libp2p.dialer.identifyService, 'identify')
+      sinon.spy(libp2p.identifyService, 'identify')
       sinon.spy(libp2p.peerStore, 'replace')
 
       const connection = await libp2p.dialer.connectToMultiaddr(remoteAddr)
       expect(connection).to.exist()
       // Wait for nextTick to trigger the identify call
       await delay(1)
-      expect(libp2p.dialer.identifyService.identify.callCount).to.equal(1)
-      await libp2p.dialer.identifyService.identify.firstCall.returnValue
+      expect(libp2p.identifyService.identify.callCount).to.equal(1)
+      await libp2p.identifyService.identify.firstCall.returnValue
 
       expect(libp2p.peerStore.replace.callCount).to.equal(1)
       await connection.close()
@@ -217,8 +217,8 @@ describe('Identify', () => {
         peerInfo
       })
 
-      sinon.spy(libp2p.dialer.identifyService, 'identify')
-      sinon.spy(libp2p.dialer.identifyService, 'push')
+      sinon.spy(libp2p.identifyService, 'identify')
+      sinon.spy(libp2p.identifyService, 'push')
       sinon.spy(libp2p.peerStore, 'update')
 
       const connection = await libp2p.dialer.connectToMultiaddr(remoteAddr)
@@ -227,15 +227,15 @@ describe('Identify', () => {
       await delay(1)
 
       // Wait for identify to finish
-      await libp2p.dialer.identifyService.identify.firstCall.returnValue
+      await libp2p.identifyService.identify.firstCall.returnValue
       sinon.stub(libp2p, 'isStarted').returns(true)
 
       libp2p.handle('/echo/2.0.0', () => {})
       libp2p.unhandle('/echo/2.0.0')
 
       // Verify the remote peer is notified of both changes
-      expect(libp2p.dialer.identifyService.push.callCount).to.equal(2)
-      for (const call of libp2p.dialer.identifyService.push.getCalls()) {
+      expect(libp2p.identifyService.push.callCount).to.equal(2)
+      for (const call of libp2p.identifyService.push.getCalls()) {
         const [connections] = call.args
         expect(connections.length).to.equal(1)
         expect(connections[0].remotePeer.toB58String()).to.equal(remoteAddr.getPeerId())