The End of Demo Contest
Dear users,
Our Contest has come to its end. Soon we will publish the results.
Thanks a lot for participating and stay tuned for further announcements!
We go on working and preparing for the next stages🔥
Dear users,
Our Contest has come to its end. Soon we will publish the results.
Thanks a lot for participating and stay tuned for further announcements!
We go on working and preparing for the next stages🔥
🔥21🕊9❤6👍4🐳4❤🔥3👎3
STON.fi Founder to Speak at F2F in Crypto Community Meeting
Our project's founder Mikhail Fedorov will participate as a special guest in the Founders to Founders offline community meeting in Yerevan.
One of the topics of discussion will be the role of DEX in the crypto ecosystem.
By the way, the TegroFinance team has launched DEX in testnet! We support such actions aimed at developing DeFi in TON.
Our project's founder Mikhail Fedorov will participate as a special guest in the Founders to Founders offline community meeting in Yerevan.
One of the topics of discussion will be the role of DEX in the crypto ecosystem.
By the way, the TegroFinance team has launched DEX in testnet! We support such actions aimed at developing DeFi in TON.
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STON.fi's advantages as a DEX
STON.fi is a DEX. And we believe that a DEX is the only proper method of operating trades on a blockchain.
One of the main advantages of blockchain technology is decentralization (although there are some centralized blockchains and cryptocurrencies). And only this approach allows anyone free access to their assets and independence from the mood, regulations, and rules of third parties, such as the centralized exchanges or companies managed by the centralized blockchains.
The main advantage of decentralization is no control from any third party and, consequently, independence in dealing with your assets. In contrast, the assets of those who trade on the centralized exchanges are controlled by those exchanges.
With the decentralized exchanges, such as STON.fi, there is no special control system and you are the sole owner of your assets. But the risk is also on you alone. We’ll talk about this later.
Stay tuned!
STON.fi is a DEX. And we believe that a DEX is the only proper method of operating trades on a blockchain.
One of the main advantages of blockchain technology is decentralization (although there are some centralized blockchains and cryptocurrencies). And only this approach allows anyone free access to their assets and independence from the mood, regulations, and rules of third parties, such as the centralized exchanges or companies managed by the centralized blockchains.
The main advantage of decentralization is no control from any third party and, consequently, independence in dealing with your assets. In contrast, the assets of those who trade on the centralized exchanges are controlled by those exchanges.
With the decentralized exchanges, such as STON.fi, there is no special control system and you are the sole owner of your assets. But the risk is also on you alone. We’ll talk about this later.
Stay tuned!
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STON.fi demo contest results
The demo contest has been successfully completed and we have summarised the results.
There are no errors on the blockchain and smartcontract side, but there were some UI bugs that will be corrected.
106 people who reached all contest rules (at least 3 exchanges with different parameters) will get NFT and 1 TON as a compensation for commissions paid, as we promised.
We also randomly chose 30 winners, who will receive 10 TON each.
You can see the list of addresses by clicking here.
NFTs and TONs will be sent out soon, we thank you for your patience.
Thank you all for participating and we look forward to seeing you at the next stages of our product development!
And do not forget that you can ask any questions in our chat or just communicate with us and each other 🙂
The demo contest has been successfully completed and we have summarised the results.
There are no errors on the blockchain and smartcontract side, but there were some UI bugs that will be corrected.
106 people who reached all contest rules (at least 3 exchanges with different parameters) will get NFT and 1 TON as a compensation for commissions paid, as we promised.
We also randomly chose 30 winners, who will receive 10 TON each.
You can see the list of addresses by clicking here.
NFTs and TONs will be sent out soon, we thank you for your patience.
Thank you all for participating and we look forward to seeing you at the next stages of our product development!
And do not forget that you can ask any questions in our chat or just communicate with us and each other 🙂
🤩19❤🔥6👍5🔥5
Alternative logos/mascots contest for STON.fi
We are announcing a new contest to show your creativity and design skills!
The task is to create an alternative logo or a mascot for our project. Winning logos/mascots will be used by STON.fi on the project platforms.
❗️Please subscribe to our official Telegram channel https://t.me/stonfidex in order to be eligible to take part in the contest.
Instructions:
1. Participants design an alternative logo or a mascot for STON.fi and mint it on the GetGems marketplace as an NFT (instructions). Please do not put an NFT for sale at this stage!
2. Participants send a link to the minted NFT at Getgems using our bot.
3. The STON.fi team chooses three best designs, which will be awarded:
1st place - 300 Toncoin
2nd place - 150 Toncoin
3rd place - 75 Toncoin
4. We will contact the winners and purchase their works on the Getgems marketplace at the above mentioned prices. GetGems commissions will be paid by STON.fi.
No plagiarism, photos, foul language, pornography, drugs, or any third party trademarks are allowed.
Contest will be held from August 2, 2022 to August 31, 2022.
Good luck to you all!🍀
We are announcing a new contest to show your creativity and design skills!
The task is to create an alternative logo or a mascot for our project. Winning logos/mascots will be used by STON.fi on the project platforms.
❗️Please subscribe to our official Telegram channel https://t.me/stonfidex in order to be eligible to take part in the contest.
Instructions:
1. Participants design an alternative logo or a mascot for STON.fi and mint it on the GetGems marketplace as an NFT (instructions). Please do not put an NFT for sale at this stage!
2. Participants send a link to the minted NFT at Getgems using our bot.
3. The STON.fi team chooses three best designs, which will be awarded:
1st place - 300 Toncoin
2nd place - 150 Toncoin
3rd place - 75 Toncoin
4. We will contact the winners and purchase their works on the Getgems marketplace at the above mentioned prices. GetGems commissions will be paid by STON.fi.
No plagiarism, photos, foul language, pornography, drugs, or any third party trademarks are allowed.
Contest will be held from August 2, 2022 to August 31, 2022.
Good luck to you all!🍀
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TON Cross-chain Roadmap
The Open Network channel has just published the roadmap of bridges for altcoins and NFTs.
In Q3 2022 - 2023, we are expecting to see the functionality of transfers of any tokens from EVM-compatible blockchains to TON and back.
All operations will occur only through smart contacts without any intermediaries.
This is a very important news for TON and especially for DeFi on The Open Network that cannot be imagined without tokens from other blockchains.
As a DEX, we are interested in providing opportunities for operations with a large scale of jettons.
Although, there are several tokens already built on TON, we are sure that everyone would be glad to see ETH, MATIC, BNB and others on TON.
We are looking forward to seeing these cross-chain solutions!
P.S. Do not forget to enter our chat, we are willing to make it the center of DeFi discussions on TON. Soon it will become more active!
Have a nice weekend!
The Open Network channel has just published the roadmap of bridges for altcoins and NFTs.
In Q3 2022 - 2023, we are expecting to see the functionality of transfers of any tokens from EVM-compatible blockchains to TON and back.
All operations will occur only through smart contacts without any intermediaries.
This is a very important news for TON and especially for DeFi on The Open Network that cannot be imagined without tokens from other blockchains.
As a DEX, we are interested in providing opportunities for operations with a large scale of jettons.
Although, there are several tokens already built on TON, we are sure that everyone would be glad to see ETH, MATIC, BNB and others on TON.
We are looking forward to seeing these cross-chain solutions!
P.S. Do not forget to enter our chat, we are willing to make it the center of DeFi discussions on TON. Soon it will become more active!
Have a nice weekend!
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Logo/mascot Contest Continues
We would like to remind you that you can still participate in our logo/mascot contest! We have already received several works and are waiting for yours.
Do not miss a chance to win Toncoin prizes and become an author of the official logo/mascot of our project.
We are also very glad that very few people sell our NFTs received after the Demo-contest.
What are the collections with biggest floor price you say?🔥
We would like to remind you that you can still participate in our logo/mascot contest! We have already received several works and are waiting for yours.
Do not miss a chance to win Toncoin prizes and become an author of the official logo/mascot of our project.
We are also very glad that very few people sell our NFTs received after the Demo-contest.
What are the collections with biggest floor price you say?🔥
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What Trustless Exchanges Are
Decentralized exchanges (DEXes) can genuinely be called trustless, as this is the best way to characterize their main distinction from the centralized currency and trading exchanges. To trade on a DEX, you don’t need to “trust” the exchange to perform transactions. DEXes work “without trust” – you may not know who is behind them, since DEXes work automatically. They are, in essence, a smart contract. A smart contract cannot fail to follow the instructions given to it – this is the definition of a system that functions without trust between the two parties.
Centralized exchanges (CEXes) generate orderbooks (price quotes for purchases and sales) to conduct trade, and systems of users’ accounts to identify buyers and sellers. The digital assets deposited on CEXes are mixed in with the general pool and stored in an unknown location. Users cannot monitor where their coins are and what is happening with them at any given time.
Such non-transparency in asset management is the main problem of CEXes and the reason for all the “technical failures,” “software errors,” and other incidents leading to the loss of traders’ funds. All funds deposited on CEXes are fully controlled by the exchange operators, who can use them however they want at any moment. Therefore, if you want to trade on a centralized exchange, you are just forced to trust it and hope that it will fulfill your order.
As mentioned above, you don’t need to trust a decentralized exchange, since it doesn’t have any register of users’ accounts, and traders use their own non-custodial digital wallets to initiate and approve their transactions on-chain (i.e. on the blockchain). These transactions take place and are validated in real time, are approved only within the limits of a certain sum, and the user signs every action – all of which lends multiple levels of control over what is happening. Compared to CEXes, where all transactions are conducted “under the hood” of the exchange, off-chain (i.e. without using a blockchain), DEXes offer traders unparalleled transparency.
Only the users themselves have access to their non-custodial wallets on a DEX. This ensures complete asset security which, by definition, is unattainable on the centralized exchanges.
#stonacademy
Decentralized exchanges (DEXes) can genuinely be called trustless, as this is the best way to characterize their main distinction from the centralized currency and trading exchanges. To trade on a DEX, you don’t need to “trust” the exchange to perform transactions. DEXes work “without trust” – you may not know who is behind them, since DEXes work automatically. They are, in essence, a smart contract. A smart contract cannot fail to follow the instructions given to it – this is the definition of a system that functions without trust between the two parties.
Centralized exchanges (CEXes) generate orderbooks (price quotes for purchases and sales) to conduct trade, and systems of users’ accounts to identify buyers and sellers. The digital assets deposited on CEXes are mixed in with the general pool and stored in an unknown location. Users cannot monitor where their coins are and what is happening with them at any given time.
Such non-transparency in asset management is the main problem of CEXes and the reason for all the “technical failures,” “software errors,” and other incidents leading to the loss of traders’ funds. All funds deposited on CEXes are fully controlled by the exchange operators, who can use them however they want at any moment. Therefore, if you want to trade on a centralized exchange, you are just forced to trust it and hope that it will fulfill your order.
As mentioned above, you don’t need to trust a decentralized exchange, since it doesn’t have any register of users’ accounts, and traders use their own non-custodial digital wallets to initiate and approve their transactions on-chain (i.e. on the blockchain). These transactions take place and are validated in real time, are approved only within the limits of a certain sum, and the user signs every action – all of which lends multiple levels of control over what is happening. Compared to CEXes, where all transactions are conducted “under the hood” of the exchange, off-chain (i.e. without using a blockchain), DEXes offer traders unparalleled transparency.
Only the users themselves have access to their non-custodial wallets on a DEX. This ensures complete asset security which, by definition, is unattainable on the centralized exchanges.
#stonacademy
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What “front-running” is and what makes it dangerous
Front-running is a kind of insider trading with financial assets that long predates cryptocurrencies and cryptocurrency exchanges. If you are a broker, the idea is self-evident. Knowing that your client is going to make a large purchase on the exchange, which will naturally increase the asset value, you simply buy some for yourself first, then sell it at the higher price. Profit!
Front-running is even simpler on decentralized exchanges, where information about transactions (i.e. purchase and sale offers before they occur) is absolutely transparent. There is no need to possess any insider information; it is there, on the blockchain.
This is how it happens in practice on the DEXes that work on the Ethereum blockchain: Trader 1 sends an order to the blockchain, where Trader 2 (actually an automatic bot) sees it and comes forward with a higher “gas,” or commission. This way, Trader 2’s transaction is carried out first and Trader 1 doesn’t get the price they were counting on. The difference in price goes to Trader 2. Profit!
Cryptocurrency trading services consider front-running one of their main problems, even though they themselves often front-run their clients. As mentioned above, front-running is also a problem for exchanges, and they employ various countermeasures to fight it.
The STON.fi decentralized exchange works on the TON blockchain, where the pattern described above cannot be implemented, since the TON follows the FIFO principle (first in, first out). Therefore, front-running in its pure form is impossible on STON.fi.
Even when users work on other DEXes (when the need arises), they can take certain safety precautions. We’ll talk about these issues in our next posts. Stay tuned!
#stonacademy
Front-running is a kind of insider trading with financial assets that long predates cryptocurrencies and cryptocurrency exchanges. If you are a broker, the idea is self-evident. Knowing that your client is going to make a large purchase on the exchange, which will naturally increase the asset value, you simply buy some for yourself first, then sell it at the higher price. Profit!
Front-running is even simpler on decentralized exchanges, where information about transactions (i.e. purchase and sale offers before they occur) is absolutely transparent. There is no need to possess any insider information; it is there, on the blockchain.
This is how it happens in practice on the DEXes that work on the Ethereum blockchain: Trader 1 sends an order to the blockchain, where Trader 2 (actually an automatic bot) sees it and comes forward with a higher “gas,” or commission. This way, Trader 2’s transaction is carried out first and Trader 1 doesn’t get the price they were counting on. The difference in price goes to Trader 2. Profit!
Cryptocurrency trading services consider front-running one of their main problems, even though they themselves often front-run their clients. As mentioned above, front-running is also a problem for exchanges, and they employ various countermeasures to fight it.
The STON.fi decentralized exchange works on the TON blockchain, where the pattern described above cannot be implemented, since the TON follows the FIFO principle (first in, first out). Therefore, front-running in its pure form is impossible on STON.fi.
Even when users work on other DEXes (when the need arises), they can take certain safety precautions. We’ll talk about these issues in our next posts. Stay tuned!
#stonacademy
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Key participants of DEXes
It is well-known that decentralized exchanges do not have a central node or server, and work without administrators or any particular management body. All transactions are conducted without intermediaries. However, this does not mean that cryptocurrency traders are the only DEX participants, even though the exchange itself was created specifically for them.
Key participants of DEXes:
Traders – participants who exchange one kind of token for another.
Liquidity providers – cryptocurrency owners ready to deposit their cryptocurrency in liquidity pools, which serve as the base of the entire DeFi system. To put it simply, liquidity providers lend their digital assets to the DEX smart contract in exchange for a commission fee from each transaction with their cryptocurrencies. It is thanks to liquidity pools that the exchange of coins on DEXes takes place instantly.
Arbitrage traders – crypto traders who gain a profit by buying cryptocurrency somewhere else at a lower price and selling it to the liquidity pool. After each transaction is completed, the price balance in the liquidity pool changes, and at this moment the arbitrageurs rush to fill the pool with tokens. This action equalizes asset prices between different trading platforms. Of course, this is a speculative strategy, but it provides quick replenishment of the liquidity pools, without which DEXes could not function efficiently.
IDO (Initial DEX Offering) – a term meaning initial offers of new coins. These offers can take place on a DEX itself or on an outside launchpad platform, unassociated with the exchange, conducting a project audit. After an IDO is completed and new capital is introduced, the new coins pass though listing and become available for free trade on the secondary market. It was due to IDO that the popularity of the DEX grew considerably in 2019–2020 – most startups and investors had exhausted all options for interaction on CEXes through ICO and IEO. Investing in IDO is now one of the most popular strategies on the cryptocurrency market.
This is a short but not exhaustive list of DEX participants. There are also oracles, which provide liquidity pools with information about fair cryptocurrency rates in trading pairs. There are participants who prefer strategies of farming and staking. We’ll talk more about them in due time.
Stay tuned!
#stonacademy
It is well-known that decentralized exchanges do not have a central node or server, and work without administrators or any particular management body. All transactions are conducted without intermediaries. However, this does not mean that cryptocurrency traders are the only DEX participants, even though the exchange itself was created specifically for them.
Key participants of DEXes:
Traders – participants who exchange one kind of token for another.
Liquidity providers – cryptocurrency owners ready to deposit their cryptocurrency in liquidity pools, which serve as the base of the entire DeFi system. To put it simply, liquidity providers lend their digital assets to the DEX smart contract in exchange for a commission fee from each transaction with their cryptocurrencies. It is thanks to liquidity pools that the exchange of coins on DEXes takes place instantly.
Arbitrage traders – crypto traders who gain a profit by buying cryptocurrency somewhere else at a lower price and selling it to the liquidity pool. After each transaction is completed, the price balance in the liquidity pool changes, and at this moment the arbitrageurs rush to fill the pool with tokens. This action equalizes asset prices between different trading platforms. Of course, this is a speculative strategy, but it provides quick replenishment of the liquidity pools, without which DEXes could not function efficiently.
IDO (Initial DEX Offering) – a term meaning initial offers of new coins. These offers can take place on a DEX itself or on an outside launchpad platform, unassociated with the exchange, conducting a project audit. After an IDO is completed and new capital is introduced, the new coins pass though listing and become available for free trade on the secondary market. It was due to IDO that the popularity of the DEX grew considerably in 2019–2020 – most startups and investors had exhausted all options for interaction on CEXes through ICO and IEO. Investing in IDO is now one of the most popular strategies on the cryptocurrency market.
This is a short but not exhaustive list of DEX participants. There are also oracles, which provide liquidity pools with information about fair cryptocurrency rates in trading pairs. There are participants who prefer strategies of farming and staking. We’ll talk more about them in due time.
Stay tuned!
#stonacademy
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Listing on DEXes
🥌IDO (Initial DEX Offering) is the initial offer of tokens on a decentralized exchange (DEX) and, at the same time, is currently the most popular method of crypto crowdfunding. This method is beneficial to both startups and investors. Unlike ICO (Initial Coin Offering) and IEO (Initial Exchange Offering), the requirements for investors and developers are minimal, and the token is listed on the DEX immediately after token minting, IDO, and creation of the liquidity pool.
🗿Typical IDO procedure goes as follows:
1. Preparation – working on the website, white paper, yellow paper, and social networking to create a community.
2. Presale – the advance sale of the project tokens at a lower rate to investors and sponsors on your whitelist. This is how you generate your initial liquidity.
3. Token listing on DEXes – an issuer generates their liquidity pool on one or several DEXes that use automated market making (AMM). The pool contains the issuer’s token and funds that they acquired at the presale. This is how the secondary liquidity market for the token is formed.
4. Whitelisting – receiving approval from a decentralized community of an exchange (for example, DAO) or from a DEX launchpad.
🗿Since the entire process takes place on a DEX, the listing procedure for the project is fast and inexpensive or free, and investor access is free and anonymous. Traders who want to participate in an IDO just have to create a crypto wallet, connect to a decentralized exchange platform (for example, STON.fi) and become participants of any popular launchpad platform (for example, Tonstarter). They then receive an allocation (i.e. a limit on token purchases at the minimum price during the presale stage). Later, we’ll talk about how traders can participate in IDOs to get the benefit and pleasure of financing new DeFi projects. Stay tuned!
#stonacademy
🥌IDO (Initial DEX Offering) is the initial offer of tokens on a decentralized exchange (DEX) and, at the same time, is currently the most popular method of crypto crowdfunding. This method is beneficial to both startups and investors. Unlike ICO (Initial Coin Offering) and IEO (Initial Exchange Offering), the requirements for investors and developers are minimal, and the token is listed on the DEX immediately after token minting, IDO, and creation of the liquidity pool.
🗿Typical IDO procedure goes as follows:
1. Preparation – working on the website, white paper, yellow paper, and social networking to create a community.
2. Presale – the advance sale of the project tokens at a lower rate to investors and sponsors on your whitelist. This is how you generate your initial liquidity.
3. Token listing on DEXes – an issuer generates their liquidity pool on one or several DEXes that use automated market making (AMM). The pool contains the issuer’s token and funds that they acquired at the presale. This is how the secondary liquidity market for the token is formed.
4. Whitelisting – receiving approval from a decentralized community of an exchange (for example, DAO) or from a DEX launchpad.
🗿Since the entire process takes place on a DEX, the listing procedure for the project is fast and inexpensive or free, and investor access is free and anonymous. Traders who want to participate in an IDO just have to create a crypto wallet, connect to a decentralized exchange platform (for example, STON.fi) and become participants of any popular launchpad platform (for example, Tonstarter). They then receive an allocation (i.e. a limit on token purchases at the minimum price during the presale stage). Later, we’ll talk about how traders can participate in IDOs to get the benefit and pleasure of financing new DeFi projects. Stay tuned!
#stonacademy
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🗿Logo/mascot contest is still on
Dear users,
You still have 10 days to participate in our alternative logo/mascot contest and share the prize pool of 525 Toncoin.
We have already received a lot of works, but are expecting more people to take part.
We would like to remind you that the best designs can be used in the official resources of STON.fi
News about our project is on its way.
This is only the beginning. Stay tuned for further updates!
Dear users,
You still have 10 days to participate in our alternative logo/mascot contest and share the prize pool of 525 Toncoin.
We have already received a lot of works, but are expecting more people to take part.
We would like to remind you that the best designs can be used in the official resources of STON.fi
News about our project is on its way.
This is only the beginning. Stay tuned for further updates!
🤩14🏆3❤2👍2
Getgems x STON.fi DeFi discussion
Dear Users,
Today, we are glad to invite you to the discussion with Getgems in the Twitter space at 4 p.m. (UTC).
We are going to cover topics about DeFi on TON, why it is so important and what awaits us in future.
Prepare your questions and get ready for an interesting DeFi evening!
And do not forget to follow our Twitter!
Dear Users,
Today, we are glad to invite you to the discussion with Getgems in the Twitter space at 4 p.m. (UTC).
We are going to cover topics about DeFi on TON, why it is so important and what awaits us in future.
Prepare your questions and get ready for an interesting DeFi evening!
And do not forget to follow our Twitter!
🔥16🐳8❤2
🥌Trading on DEXes
You can learn about the differences between Decentralized (DEX) and Centralized (CEX) Exchanges here. Now we’ll briefly cover how to trade on a DEX.
The exchange process itself is extremely simple. You do not need to register on the exchange, make a deposit to trade, or submit your personal data to the exchange operator. You just connect your crypto wallet and immediately see all the tokens available to exchange. Then you choose what you want to exchange and confirm the transaction – and the tokens you acquired are instantly transferred to your wallet.
There are no centralized intermediary companies involved in this transaction; the exchange is conducted between you and another user, while a smart contract, i.e. automated program code, serves as an intermediary and guarantor.
A DEX is a smart contract working on any blockchain, including Ethereum (for instance, the Uniswap Exchange), BNB Smart Chain (the PancakeSwap Exchange), TON (the STON.fi DEX), and others. The availability of tokens on the platform depends on the DEX blockchain that you choose. The tokens must be generated on the same blockchain. There are, however, so-called cross-chain bridges that make it possible to use one platform to exchange tokens generated on different blockchains.
How is money made on DEXes?
First of all, this is where you can find tokens of new projects (the tokens that have passed IDO). They can multiply your profit to a level that, as a rule, cannot be reached with regular trading.
Secondly, DEXes that use automated market-making (AMM) trade by means of liquidity pools, where you can put tokens to earn a passive income – in essence, depositing cryptocurrency to accrue interest.
Thirdly, DEXes using the Proof-of-Stake (PoS) algorithm allow you to earn on staking, which is a substitute for mining on such blockchains. Simply send the smart contract a certain number of tokens – they will be used to secure the network’s function, and you will receive some amount of compensation.
#stonacademy
You can learn about the differences between Decentralized (DEX) and Centralized (CEX) Exchanges here. Now we’ll briefly cover how to trade on a DEX.
The exchange process itself is extremely simple. You do not need to register on the exchange, make a deposit to trade, or submit your personal data to the exchange operator. You just connect your crypto wallet and immediately see all the tokens available to exchange. Then you choose what you want to exchange and confirm the transaction – and the tokens you acquired are instantly transferred to your wallet.
There are no centralized intermediary companies involved in this transaction; the exchange is conducted between you and another user, while a smart contract, i.e. automated program code, serves as an intermediary and guarantor.
A DEX is a smart contract working on any blockchain, including Ethereum (for instance, the Uniswap Exchange), BNB Smart Chain (the PancakeSwap Exchange), TON (the STON.fi DEX), and others. The availability of tokens on the platform depends on the DEX blockchain that you choose. The tokens must be generated on the same blockchain. There are, however, so-called cross-chain bridges that make it possible to use one platform to exchange tokens generated on different blockchains.
How is money made on DEXes?
First of all, this is where you can find tokens of new projects (the tokens that have passed IDO). They can multiply your profit to a level that, as a rule, cannot be reached with regular trading.
Secondly, DEXes that use automated market-making (AMM) trade by means of liquidity pools, where you can put tokens to earn a passive income – in essence, depositing cryptocurrency to accrue interest.
Thirdly, DEXes using the Proof-of-Stake (PoS) algorithm allow you to earn on staking, which is a substitute for mining on such blockchains. Simply send the smart contract a certain number of tokens – they will be used to secure the network’s function, and you will receive some amount of compensation.
#stonacademy
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🥌Last three days to send your design for STON.fi
Dear users,
Three days are left to participate in our alternative logo/mascot contest and share the prize fund of 525 Toncoin in case of success.
Dozens of designs have already been submitted but you still have a chance to take part. Hurry up!
Dear users,
Three days are left to participate in our alternative logo/mascot contest and share the prize fund of 525 Toncoin in case of success.
Dozens of designs have already been submitted but you still have a chance to take part. Hurry up!
👍14🥰4❤2
🥌Liquidity providers on DEXes
A liquidity pool is a basis for DeFi that does not have an exact equivalent in the classical financial system. In simple terms, a liquidity pool is a smart contract where a certain number of tokens is blocked so that any DeFi participants can use them for exchanges, crediting, blockchain games, profitable yield farming, and other operations. Decentralized exchanges (DEX) that use automated market making (AMM) work on liquidity pools.
🗿The providers who bring liquidity to the pool receive compensation when traders use their funds. Liquidity pool users get immediate access to the tokens they exchange. There are no intermediaries in this process, be they DEX operators or other people – the system of decentralized finances (DeFi) uses only smart contracts that operate independently, cannot be modified, and can be checked at any time.
There must be enough liquid assets in cryptocurrencies in DeFi to secure the operation of the entire system. Otherwise, transactions cannot be conducted within the pool. Anyone can be a liquidity provider for a pool.
We’ll discuss how to earn money participating in liquidity pools in subsequent posts.
Have a nice weekend!🔥
#stonacademy
A liquidity pool is a basis for DeFi that does not have an exact equivalent in the classical financial system. In simple terms, a liquidity pool is a smart contract where a certain number of tokens is blocked so that any DeFi participants can use them for exchanges, crediting, blockchain games, profitable yield farming, and other operations. Decentralized exchanges (DEX) that use automated market making (AMM) work on liquidity pools.
🗿The providers who bring liquidity to the pool receive compensation when traders use their funds. Liquidity pool users get immediate access to the tokens they exchange. There are no intermediaries in this process, be they DEX operators or other people – the system of decentralized finances (DeFi) uses only smart contracts that operate independently, cannot be modified, and can be checked at any time.
There must be enough liquid assets in cryptocurrencies in DeFi to secure the operation of the entire system. Otherwise, transactions cannot be conducted within the pool. Anyone can be a liquidity provider for a pool.
We’ll discuss how to earn money participating in liquidity pools in subsequent posts.
Have a nice weekend!🔥
#stonacademy
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The first IDO on TON with a listing on STON.fi
In a few weeks, the first ever IDO in TON of $FNZ token from the Fanzee project will take place on the Tonstarter Launchpad.
After distributing allocations to early investors with the opportunity to purchase tokens, $FNZ will be listed on DEX STON.fi and thus become the first token to be listed on our exchange.
In the following posts, we will introduce you to the Fanzee project.
We would like to mention that our smart contracts are ready and waiting to be audited to ensure that there are no vulnerabilities that could threaten our users. Security of interaction with our platform is a priority for us.
Stay tuned so you do not miss anything!
In a few weeks, the first ever IDO in TON of $FNZ token from the Fanzee project will take place on the Tonstarter Launchpad.
After distributing allocations to early investors with the opportunity to purchase tokens, $FNZ will be listed on DEX STON.fi and thus become the first token to be listed on our exchange.
In the following posts, we will introduce you to the Fanzee project.
We would like to mention that our smart contracts are ready and waiting to be audited to ensure that there are no vulnerabilities that could threaten our users. Security of interaction with our platform is a priority for us.
Stay tuned so you do not miss anything!
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🥌The results of alternative logo/mascot contest
Dear users, we have summed up the results of the alternative logo/mascot contest!
According to the results of three rounds of voting, the winners were determined:
1st place – number 17
2nd place – number 19
3rd place – number 22.
We would also like to award number 21 with the sympathy prize based on the results of heated internal team debates.
Thank you all for participating, and congratulations to the winners!
We kindly ask the authors of designs 17, 19, 21 and 22 to contact us to coordinate further actions!
All participants will receive a branded NFT from us. You do not have to do anything; we will send the NFTs to your wallets ourselves.
Dear users, we have summed up the results of the alternative logo/mascot contest!
According to the results of three rounds of voting, the winners were determined:
1st place – number 17
2nd place – number 19
3rd place – number 22.
We would also like to award number 21 with the sympathy prize based on the results of heated internal team debates.
Thank you all for participating, and congratulations to the winners!
We kindly ask the authors of designs 17, 19, 21 and 22 to contact us to coordinate further actions!
All participants will receive a branded NFT from us. You do not have to do anything; we will send the NFTs to your wallets ourselves.
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🥌Unusual blockchain uses
Currently, blockchain technology is not tied solely to cryptocurrencies. It is estimated that blockchain is used in more than 50 industries, from tracking the distribution of energy resources in real time to registering land titles.
Here are some examples of how blockchain is applied in completely unexpected spheres, introducing new opportunities:
🗿After the discovery of E. coli bacteria in packages of lettuce, Walmart and Sam's Club proposed the use of blockchain technology to control the freshness of products.
According to their idea, a customer at a self-service checkout could scan any product and find out where it was grown/produced and trace it all the way to the store shelf. Thus, modern data storage and processing technologies can help control food safety. Likewise, the Norwegian company EY Skye is already tracking the supply of salmon. Using the app, consumers can see where their fish was caught, what "batch" it came from, and how long it has been on the counter.
🗿San Francisco jewelry company Brilliant Earth has partnered with London-based Everledger to introduce blockchain-integrated diamonds. Everledger’s product registers the unique markings of more than 2.2 million diamonds, tracking and permanently recording every stage of their “life cycle,” including provenance, sale, and purchase. Blockchain technology allows us to completely eliminate the possibility of smuggling and forgery.
🗿Fuchsia, a Seattle-based shoe company, uses the Provenance blockchain platform to provide information on the craftsmen who handcraft the brand's footwear in Pakistan. The company's website states that customers value not only quality production, but also confidence in their employees’ fair and safe working conditions. The company’s transparency increased online purchases of their products by 31%.
🗿Following this, the world-renowned Levi Strauss & Co. began testing a questionnaire that anonymously records factory employees' responses to questions on a blockchain platform. This solution provides a secure, standardized, and completely anonymous platform for data collection, eliminating the possibility of fraud, and thereby improving working conditions.
#stonacademy
Currently, blockchain technology is not tied solely to cryptocurrencies. It is estimated that blockchain is used in more than 50 industries, from tracking the distribution of energy resources in real time to registering land titles.
Here are some examples of how blockchain is applied in completely unexpected spheres, introducing new opportunities:
🗿After the discovery of E. coli bacteria in packages of lettuce, Walmart and Sam's Club proposed the use of blockchain technology to control the freshness of products.
According to their idea, a customer at a self-service checkout could scan any product and find out where it was grown/produced and trace it all the way to the store shelf. Thus, modern data storage and processing technologies can help control food safety. Likewise, the Norwegian company EY Skye is already tracking the supply of salmon. Using the app, consumers can see where their fish was caught, what "batch" it came from, and how long it has been on the counter.
🗿San Francisco jewelry company Brilliant Earth has partnered with London-based Everledger to introduce blockchain-integrated diamonds. Everledger’s product registers the unique markings of more than 2.2 million diamonds, tracking and permanently recording every stage of their “life cycle,” including provenance, sale, and purchase. Blockchain technology allows us to completely eliminate the possibility of smuggling and forgery.
🗿Fuchsia, a Seattle-based shoe company, uses the Provenance blockchain platform to provide information on the craftsmen who handcraft the brand's footwear in Pakistan. The company's website states that customers value not only quality production, but also confidence in their employees’ fair and safe working conditions. The company’s transparency increased online purchases of their products by 31%.
🗿Following this, the world-renowned Levi Strauss & Co. began testing a questionnaire that anonymously records factory employees' responses to questions on a blockchain platform. This solution provides a secure, standardized, and completely anonymous platform for data collection, eliminating the possibility of fraud, and thereby improving working conditions.
#stonacademy
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🥌STON.fi in TON Community's post
Dear users,
We got mentioned in the official TON Community.
The post was dedicated to DEXes under development on The Open Network and STON.fi was named first among them.
We are thankful to the TON Community for their trust and are really glad to see that there are several other decentralised exchanges that are going to shape long awaited DeFi on TON.
The longer you wait – the louder are the announcements that you get! 🔥💎
Dear users,
We got mentioned in the official TON Community.
The post was dedicated to DEXes under development on The Open Network and STON.fi was named first among them.
We are thankful to the TON Community for their trust and are really glad to see that there are several other decentralised exchanges that are going to shape long awaited DeFi on TON.
The longer you wait – the louder are the announcements that you get! 🔥💎
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