The TON blockchain is rapidly becoming a central hub for decentralized finance, largely thanks to its seamless integration with Telegram and its massive user base. At the heart of this growing ecosystem is STON.fi, a leading automated market maker (AMM) protocol that enables fast, low-cost, and permissionless token swaps.
This guide delves into how STON.fi works, its unique features, and how it contributes to the expansion of the DeFi landscape on TON.
What Is STON.fi?
STON.fi is a decentralized exchange (DEX) built on The Open Network (TON). It functions as an automated market maker, allowing users to swap tokens without intermediaries. Since its launch in 2022, the platform has grown significantly, supporting millions of users and facilitating over $5.7 billion in total swap volume.
Key features of STON.fi include:
- Low transaction fees
- Minimal slippage
- Direct integration with TON wallets
- Permissionless token swaps
- User-friendly experience
The platform is designed to be accessible—all you need is a cryptocurrency wallet to start trading.
The Team and Vision
STON.fi was founded by a team of experienced tech entrepreneurs and blockchain specialists. The team is led by CEO Slavik Baranov, a technology executive with nearly three decades of experience in software development and fintech. Other key members include CPO Alexey Papirovskiy, CMO Andrey Fedorov, CFO Dmitriy Malinovskiy, and Head of Developer Relations Ethan Clime.
The team’s mission is to build core DeFi infrastructure on TON, emphasizing scalability, user experience, and community-driven growth. Their goal is to make decentralized finance accessible to everyone, especially through platforms already widely used—like Telegram.
How STON.fi Works
STON.fi operates using an automated market maker model. Instead of relying on order books, the protocol uses liquidity pools—smart contracts that hold reserves of two or more tokens. Users can trade against these pools anytime, without waiting for a counterparty.
When you perform a swap on STON.fi, a 0.3% fee is applied. Of this, 0.2% goes to liquidity providers, and 0.1% is allocated to the protocol.
All transactions are trustless and non-custodial. The platform doesn’t hold user funds or collect personal data, ensuring privacy and security.
Staking and Earning Rewards
Users can stake STON tokens to earn rewards and participate in governance. Staking involves locking tokens for a period between three and 24 months. In return, stakers receive ARKENSTON—a non-transferable governance token—and GEMSTON, which is used to incentivize active participation.
Once the STON.fi DAO is launched, ARKENSTON holders will be able to vote on key protocol decisions.
Liquidity Farming
Liquidity providers (LPs) can deposit tokens into pools and receive LP tokens in return. By staking these LP tokens in farms, LPs earn additional rewards. This process, known yield farming, can offer higher returns but also involves greater risk, including impermanent loss.
STON.fi allows users to 👉 explore available liquidity pools and choose farming opportunities that match their risk appetite.
Impermanent Loss Protection
Impermanent loss occurs when the value of tokens in a liquidity pool changes compared to simply holding them. To mitigate this risk, STON.fi offers an Impermanent Loss Protection program.
Liquidity providers in the STON/USDT pool can receive a rebate of up to 5.72% of impermanent loss. To qualify, LPs must provide liquidity before the start of each validity period, usually on the first day of the month.
Omniston: The Liquidity Aggregator
Omniston is STON.fi’s liquidity aggregation solution. It sources liquidity from multiple decentralized exchanges (DEXs) on TON to offer users the best possible swap rates.
Key benefits of Omniston include:
- Better pricing through smart routing
- Reduced integration time for developers
- Lower maintenance costs for liquidity providers
Omniston uses a request-for-quote (RFQ) system. When a user initiates a swap, resolvers provide quotes, and Omniston executes the trade using the best available rate.
The STON Token
STON is the native utility token of the STON.fi ecosystem. It has a maximum supply of 100 million tokens, with approximately 1 million currently in circulation. The token is used for:
- Governance voting
- Staking and earning rewards
- Paying protocol fees
Supported Tokens and Partnerships
STON.fi supports over 23,000 trading pairs, including tokens native to TON and other ecosystems. Users can swap stablecoins, meme coins, and various other assets.
The platform has also formed partnerships with major wallets and projects, including Tonkeeper, Blum, Ton.fun, and Symbiosis. It also integrates with web3 wallets like Binance Wallet, OKX Wallet, and Bitget Wallet, making it easier for users from other blockchains to access TON-based DeFi.
STON.fi Roadmap
STON.fi has an ambitious multi-phase roadmap aimed at expanding its cross-chain capabilities and enhancing user experience:
- Phase 1: Cross-chain swaps between TON and Tron, without wrapped tokens or bridges.
- Phase 2: Support for EVM-compatible chains like Polygon and introduction of stableswap routing.
- Phase 3: Full cross-chain implementation, allowing access to tokens from all integrated networks.
- Phase 4: Launch of a Telegram bot for cross-chain swaps and a decentralized autonomous organization (DAO).
- Phase 5: Introduction of limit orders, margin trading, gasless swaps, and concentrated liquidity pools.
STON.fi Grant Program
To encourage development on TON, STON.fi offers a grant program that provides up to $10,000 in USDT for projects integrating its SDK. The program is open to individual developers, startups, and established teams.
Applicants must be building DeFi products or integrating DeFi features into existing platforms. The grant covers development costs and includes technical support from the STON.fi team.
Stonbassadors Program
The Stonbassadors program rewards community members who promote STON.fi through content creation, events, and social media engagement. Participants can earn from a monthly pool of 10,000 STON tokens based on their contributions.
The program also includes a referral system, where ambassadors earn 10% of their referrals’ rewards for six months or more.
The Future of DeFi on TON
STON.fi is more than just a decentralized exchange—it’s a foundational piece of TON’s DeFi ecosystem. With its cross-roadmap, user incentives, and community-focused programs, it is well-positioned to drive the next wave of DeFi adoption.
As the platform continues to evolve, it aims to bridge TON with other major blockchains, creating a more open and interconnected financial system.
Frequently Asked Questions
What makes STON.fi different from other DEXs?
STON.fi stands out due to its integration with the TON ecosystem, low transaction costs, and innovative features like impermanent loss protection. Its liquidity aggregator, Omniston, ensures users get the best possible rates across multiple sources.
Do I need KYC to use STON.fi?
No. STON.fi is a non-custodial and permissionless platform. You don’t need to complete know-your-customer (KYC) checks to start swapping tokens or providing liquidity.
How can I start earning on STON.fi?
You can earn rewards by staking STON tokens, providing liquidity, or participating in the Stonbassadors program. Each method offers different risk and reward profiles, so you can choose based on your experience level.
Is STON.fi secure?
Yes. STON.fi uses audited smart contracts and a decentralized design. User funds are never held by the platform—they remain in user-controlled wallets or non-custodial liquidity pools.
What wallets are compatible with STON.fi?
STON.fi supports popular TON wallets like Tonkeeper and Wallet. It also works with multi-chain wallets such as OKX Wallet, Binance Wallet, and Bitget Wallet.
Can I list my token on STON.fi?
Yes. STON.fi allows anyone to create a liquidity pool for their token permissionlessly. You can 👉 discover more about pool creation on their official interface.
This article is for educational purposes only and does not constitute financial advice. Always do your own research before engaging with DeFi protocols.