Ston.Fi: A Decentralized Exchange on The Open Network (TON) Blockchain

Ston.Fi is a decentralized exchange on The Open Network (TON) blockchain, allowing users to trade digital assets with enhanced security and without a central authority.

STON.fi is a decentralized exchange (DEX) built on The Open Network (TON) blockchain. It enables users to swap digital assets directly and quickly without the need for intermediaries or third parties.

The platform boasts the highest total value locked (TVL) amongst DEXs on the TON blockchain.

To facilitate cross-blockchain asset swaps, Ston.Fi employs a Request for Quote (RFQ) DeFi protocol coupled with Hashed Timelock Contracts (HTLC). This approach eliminates the requirement for additional layers, intermediaries, or third parties, ultimately resulting in faster and safer transactions.

In an RFQ-based protocol, traders can request to swap a specific amount of one asset for another by sending an RFQ to Professional Market Makers (PMMs). These PMMs then respond with quotes that include the swap rate and conditions. Subsequently, the protocol selects the best quote based on set criteria and completes the swap for the trader.

HTLC protocols, also known as “Atomic swaps,” ensure that either both parties in the trade receive their assets, or the exchange fails entirely. If an issue arises or someone behaves improperly, the transaction is canceled, and all parties get their assets back.

The HTLC-based solution offers several key advantages. It eliminates the need for additional trusted entities, allowing participants to maintain full control and ownership of their funds without intermediaries. This approach also prevents accidental permanent loss of funds, as users always have control over their assets, which are never blocked in a middleman protocol.

The protocol ensures guaranteed rates for transactions, providing transparency and eliminating unexpected fees. This enables users to predict transaction costs confidently. Furthermore, by removing the need for Know Your Customer (KYC) procedures, the solution facilitates fast and predictable transaction times, with each transaction having a set execution time based on the specific blockchain network.

Core Features

Amongst the many features on Ston.Fi, here are the most significant as the team hints at more upgrades:

Swapping TON-based tokens

When it comes to cryptocurrency, swapping is the process of exchanging one digital asset for another without first converting it into fiat currency. This is typically done through decentralized exchanges (DEXs) or specialized swapping platforms, enabling direct trades between users.

On Ston.Fi, users can swap $TON for various TON-based tokens. The images below showcase some of the tokens available for exchange.

When users trade tokens on STON.fi, they interact with liquidity pools, which can lead to price changes and slippage. A trading fee is also applied.

For basic swaps, the trading fee is 0.3%. Out of this fee, 0.2% rewards the liquidity providers by increasing the pool size, while 0.1% supports the STON.fi protocol.

Liquidity provision

Users can earn interest by providing liquidity to over 400 pools on Ston.Fi. Projects whose tokens are traded on Ston.Fi seek larger pools to enable bigger trades. To encourage this, they set up farms on the platform, offering token rewards to liquidity providers.

Participants earn a share of these rewards based on their contribution to the pool. The more they contribute, the greater their rewards. To start earning, users simply need to provide liquidity, stake the LP-tokens they receive, and rewards will automatically be added to their accounts.

How to provide liquidity and earn on Ston.Fi

Once completed, all rewards will be sent to wallet and the owner of the wallet can withdraw them at any time. They can also remove their liquidity at anytime.

Stake STON

Staking in Web3 involves locking up cryptocurrency tokens to support the operations and security of a blockchain network, especially those using a Proof of Stake (PoS) consensus mechanism. By staking their tokens, users enhance the network’s integrity, validate transactions, and bolster security, while earning rewards.

On Ston.Fi, users can stake $STON, the primary token of the DEX, to gain DAO voting power with ARKENSTON and receive GEMSTON, which can be transferred, traded, or held. STON tokens are locked for a period ranging from 3 to 24 months.

ARKENSTON, one of the staking rewards, is a governance token that grants users the right to participate in decision-making for the STON.Fi protocol. These tokens are issued as non-transferable NFTs on the TON Blockchain.

GEMSTON, the second reward, is an engagement token that encourages active participation in the STON.Fi protocol. GEMSTON tokens are fungible and can be freely transferred, traded, or held according to the staker’s preference.

Here’s how to stake STON on Ston.Fi:

At the end of the staking period, a smart contract allows the user to unstake tokens. Upon

unstaking the governance tokens becomes inactive.

Tokens on Ston.Fi

The primary token of Ston.Fi is $STON, It is used for governance, paying gas fees, and other transactions on the platform. Additionally,