Hello world!🤖

Internal discussion defining DEX smart contract looks like this:
🤓 🤓 🧐 ☕☕☕☕☕☕☕☕☕

Cool news! 👌Experienced FunC developer from Italy joined our team today. Dario, welcome on 🛹

Project
STON.fi (https://stonfi.com)

Description
STON.fi is a decentralized exchange (DEX) built on TON Blockchain smart contracts, enhanced with advantages such as low fees, low slippage, super-user friendly interface and direct integration with the TON wallet. STON.fi allows traders to exchange trier tokens at the best prices and receive a variety of rewards within the STON.fi platform

Stage
Alpha at testnet

Monetization
Trading fees collected from every transaction made on STON.fi and distributed among the liquidity providers

Highlights
Easy to use: Most simple interface. Set how much and at what price, and tap the button. Done!
Open: You do not need to sign up or open an account. You simply get access by creating a TON wallet.
Pseudonymous: You do not need to provide your name, email address or any personal information to make transactions at STON.fi.
Flexible: You can move your assets anywhere at any time without asking for permission, or waiting ages for the transfer to complete, while paying expensive fees.
Fast and efficient: Interest rates and rewards are updated promptly (up to every 15 seconds) and can be significantly higher than on Wall Street.
Transparent: All participants can see the full set of transactions (private corporations rarely provide such transparency).
Low fees: STON.fi runs on TON Blockchain, a blockchain with much lower transaction costs than Ethereum or Bitcoin, and much faster too.
Secure: STON.fi is non-custodial, meaning the developers do not have access to tokens in pools.

Useful links and our social platforms:

▪️ Official website: https://ston.fi
▪️ Telegram group: https://t.me/stonfichat
▪️ Twitter: https://twitter.com/ston_fi
▪️ Discord: https://discord.gg/bdmaGV6qUw
▪️ Reddit: https://www.reddit.com/r/STONFi/
▪️ GitHub: https://github.com/ston-fi

Please feel free to join and to follow! 🚀

A huuuuge report by Reuters on how Binance was used for money laundering. Not trying to make any point here, and ofc any tool can be used for good or bad. But, we must remember that the nature of decentralized exchanges will always mean close attention from all types of fraudsters on one hand, and authorities on the other. Hence all the possible consequences for their users 😡 (Sure, Binance is just an example and also a victim here).

That's why we are building a DEX, and believe DEXes are the true players in the decentralized world 💎

https://www.reuters.com/investigates/special-report/fintech-crypto-binance-dirtymoney/

STON.fi demo launch and contest 🔥

Hey all,

We've been working hard lately, and we are very close to launching DEX. In order to be sure that everything works without a hitch, we'll launch demo first and invite everybody to assist us with testing. Some nice rewards are reserved 😉

We'll publish more details in a couple of days, but if you want to be among the first and increase your chances for nicer rewards, please submit your email address using any form at https://ston.fi 💎

What a DEX is

DEX stands for ‘decentralized exchange,’ where users can trade and exchange cryptoassets (coins and tokens) directly, with no intermediaries such as the exchange itself or a broker. Users don’t have to keep their cryptoassets at the exchange unless they want to. The blockchain fulfills the role of the intermediary and guarantor of the deal’s completion on a DEX.

In fact, a DEX is a marketplace where any person with access to the Internet can trade. And there is no need to generate accounts or obtain permission from the exchange. Technically speaking, a DEX is a set of smart contracts, or software which, when specified conditions occur (for example, when a user’s an order to sell or buy tokens is received), automatically performs the functions in its programming. No one and nothing has the technical capability to prevent a user from selling or buying tokens on such an exchange. Moreover, no one and nothing can block or cancel the user’s operation. This is what separates a DEX from the centralized exchanges (CEX).

The smart contract CANNOT fail to perform an operation or perform it in a way that differs from how the user instructed. As a rule, the smart contracts of decentralized exchanges are open-source software, meaning that any person can check the source code of the smart contract and make sure that the contract really contains only the stated functions.

As it happens, decentralized exchanges most often use Ethereum Blockchain, but new DEXs that work on different blockchains are appearing. For example, STON.fi works on the TON Blockchain. It offers a few advantages over Ethereum, such as higher speeds and practically zero transaction fees.

We will go through the advantages and limitations (which do exist!) of DEX in separate posts.

If you are a beginner and want to find out if a particular exchange is a DEX or a CEX, you can check the lists at coinmarketcap: DEXs, CEXs. You can also try to conduct an operation on the exchange you want to check. If the exchange requires you to register, it is most likely a CEX.

#stonacademy

Key differences between DEXs and CEXs

You can find introductory information on DEXs here. This post describes the key differences between the decentralized and centralized exchanges (DEXs and CEXs) briefly and in little detail.

A few examples of CEXs are Binance, FTX, Coinbase, and Kraken. A few examples of DEXs are Uniswap, dYdX, and PancakeSwap. For the full lists, see coinmarketcap.com: DEXs, CEXs.

DEXs versus CEXs

• Faster to operate as there is no need to register and no need to replenish the deposit beforehand.
• As a rule, total fees are lower, since you don’t need to replenish the deposit and then withdraw funds from it to put them in the wallet.
• Since there is no intermediary organization, there is no one controlling you.
• Since there are no KYC/AML procedures to identify the user, there is no way to check the legality of the funds’ origin.
• As a rule, there is no regulation by the state.
• The non-custodial principle means that you don’t have to keep your funds in the exchange wallet. Your assets stay in your wallet until the transaction occurs.

Does it look like DEXs have only advantages? This isn’t quite so. The lack of KYC/ALM regulations means that the fiat currencies (USD, EUR, etc.) cannot be traded on such exchanges. It also means that only crypto-to-crypto exchanges are possible. In addition, these peculiarities of DEXs often lead to the inability of institutional investors (companies, foundations, etc.) to work on such exchanges.

We won’t go into detail about what makes CEXs different in these respects; their characteristics are simply opposite to those of DEXs.

#stonacademy

Swap functionality at STON.fi DEX demo is up and running! 🚀

Please reserve your seat at https://ston.fi/demo-reserve-seat to participate in the testing contest 💎