STON.fi is a revolutionary platform addressing the challenges faced by the DeFi ecosystem. It aims to facilitate efficient cross-chain transactions without the need for wrapping or bridging.
Decentralized finance (DeFi) has transformed the way users interact with their assets by eliminating the need for intermediaries. However, the lack of interoperability between blockchain networks has hindered access to the innovative trading opportunities that DeFi offers. Users often have to rely on third-party services to transfer assets between different blockchains, exposing them to security risks and potential asset loss.
STON.fi, a decentralized exchange (DEX) operating on The Open Network (TON) blockchain, is set to revolutionize cross-chain swaps by providing tools that eliminate the need for bridges and wrapped tokens. The TON blockchain was developed by the team behind Telegram, a popular instant messaging app with over 900 million users.
With a total value locked (TVL) exceeding $200 million and a trading volume surpassing $600 million, STON.fi offers seamless integration with TON wallets such as Tonkeeper and TON Space. This integration allows for the trading of any TON-based token on the platform.
The DEX utilizes a liquidity pool model that enables instant transactions without relying on traditional market mechanisms. Additionally, STON.fi offers advanced features like farming and staking, allowing users to earn rewards by providing liquidity or supporting network operations through asset locking.
By implementing a request for quote (RFQ) combined with hashed timelock contracts (HTLC), STON.fi ensures secure and efficient cross-chain transactions without the need for intermediaries. The platform has listed TON-based Tether (USDT) and launched NOT, the token of the popular Web3 game Notcoin with over 35 million players.
STON.fi has received investments from leading firms like CoinFund, Delphi Ventures, Karatage, and TON Ventures, as well as notable individuals in the industry. CEO Slavik Baranov emphasized the platform’s commitment to enabling secure token swaps between networks for Telegram users without the involvement of third parties.
By promoting interoperability in asset transfers, STON.fi aims to make the DeFi environment more inclusive and efficient. As more platforms adopt secure asset trading across different networks, the decentralized space is poised to achieve greater value and accessibility.