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

🗿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!

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!

🥌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

🥌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!

🥌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

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!

🥌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.

🥌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

🥌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! 🔥💎

Decentralized Finance (DeFi)

DeFi (Decentralized finance) is a general term denoting various financial applications based on the blockchain and cryptocurrencies that are aimed at creating an alternative financial system that works without intermediaries.

When any such DeFi applications are created, equal participants of the community have access to copies of their transaction histories. Consequently, the transactions are not controlled by any centralized body, which means that they cannot be altered or falsified.

In terms of functional potential, DeFi applications offer the full range of traditional financial instruments, but often provide a higher income due to the lack of financial intermediaries.

There are no access restrictions – anyone, including those who do not have access to the resources of the conventional banking system, can use DeFi potentials.

The DeFi industry is relatively young, and the amount of funds in financial applications is changing rapidly due to various factors. For example, the spring 2022 liquidity crisis in Terra, a large DeFi ecosystem, led to a significant outflow of funds from DeFi, and the total value locked (TVL) decreased from $250 mln to $76 mln. However, this isn’t the first time such things have happened in DeFi networks.

The TVL amount in DeFi can be monitored using, for instance, the DeFi Llama platform. In its research on DeFi, the Messari analytical agency claims that the “economy of users,” in contrast to the traditional “economy of institutions,” will grow by several orders of magnitude by 2030.

💎DeFi on TON is coming soon as well! And STON.fi plans to be an integral component of it.

#stonacademy

🥌Bridges, Wrapped Bitcoin (wBTC), Wrapped ETH (wETH), and other wrapped tokens: what do we need them for?

🗿Wrapped tokens are cryptocurrencies issued on blockchains that differ from the blockchains of basic coins.

🗿For example, Wrapped Bitcoin (wBTC) is analogous to Bitcoin on other blockchains, such as Ethereum. So what is its purpose?

🗿Bitcoin owners need wBTC, for instance, to earn funds using financial applications based on Ethereum without having to exchange their Bitcoin for tokens of the Ethereum standard.

🗿Under normal circumstances, tokens issued on one blockchain cannot be transferred to another. Wrapped tokens lend cryptocurrency holders the opportunities of the cross-chain, making exchanges and other transactions between different blockchains possible.

🗿To create wrapped tokens, we need a custodian that will accept and store the user’s BTC and generate wrapped liquidity of equal value. Consequently, when the exchange is reversed, the custodian will eliminate the wrapped tokens to prevent situations in which new tokens materialize out of thin air.

🗿The role of the custodian in DeFi can be played by a Decentralized Autonomous Organization (DAO) or, for example, by the bridges’ smart contracts.

#stonacademy

🥌The role of oracles in DeFi

An oracle is software that finds and confirms data from the outside world (off-chain) and transfers it to the smart contracts on the blockchain (on-chain).

One particularly illustrative example is the transfer of information from exchanges and price aggregators to the smart contract controlling the liquidity pool. The information oracles transfer contains the prices of different cryptocurrencies represented in the liquidity pool. In a general sense, an oracle is any service that can transfer to the blockchain data it does not possess.

🗿Oracles can be centralized (i.e. managed by one organization) or decentralized (managed by a DAO): the former are considered more vulnerable due to the risk of providing subjective information (i.e. there is a risk of fraud); the latter are more reliable because they analyze information from many sources and summarize it in so-called trustless results.

Oracles are also divided by type of information transmission into incoming (transmitting data to the blockchain) and outgoing (transmitting data from the blockchain off-chain). As regards their method of data collection, oracles can be software (connected to digital data sources via API) and hardware (connected by any method to physical data sources – video cameras, motion or temperature sensors, or RFID).

🗿Since the DeFi system is based on the use of self-executing smart contracts with no intermediaries, operating it without oracles would be virtually impossible. At the DeFi system’s nascence, oracles were at high risk of attacks by hackers to manipulate data. As the DeFi system develops and the number of oracles under DAO management grows, these risks are minimized.

#stonacademy

What is an IDO?

As you remember, the first IDO in the TON ecosystem is coming up very soon. In this regard, let us remind you what IDO is and what its stages are.

IDO (initial dex offering)—is the opportunity to buy tokens of the project before its appearance on the decentralized exchanges at a fixed price.

1. IDO Announcement
Everything begins with an announcement: prospective investors get acquainted with the project and its team and decide whether it is worth investing in it. It is important at this stage to analyze the project: study the product, the team, and its investors; check what they write about it in the media.

2. Open registration for a token sale
If the project seems interesting, the investor can apply for participation in a token sale. At this stage, it is possible to get the right to redeem the tokens at a reduced price before they are listed on the exchange. Allocations are a limited number of tokens that can be redeemed by a single investor. Buying rights are usually distributed by lottery.

3. Token Sale Day
Investors who are given the opportunity to redeem an allocation can purchase project tokens at a fixed price on the Launchpad. This can be compared to the pre-sale mechanics of NFT collections, where a limited number of users can buy the token they are interested in. Joining the project at this stage is a profitable opportunity to invest in the project before it appears on DEX.

4. Listing the project on DEX for free trading
As soon as the token price goes on DEX, the price of the token goes into free float. At this point every Toncoin holder can buy or sell the project's tokens. Prospective project tokens are usually in high demand, which causes the market price to rise actively from the start of trading.

Be aware of the risks when investing in projects: investments can lead to a total loss of money. No project can promise you instant profits. Do not forget this.

🥌What is the Cross-chain Decentralized Exchange (CDEX)?

The Cross-chain Decentralized Exchange allows participants to use one platform to exchange tokens issued on different blockchains via the DeFi system, i.e. without third parties that could potentially change the transaction course and asset price.

🗿Hashbon Rocket or, say, O3Swap, are considered to be the first DeFi applications that used CDEX opportunities. Transactions on the CDEX are made with the involvement of oracles and arbitrageurs; the former provide the platform with confirmed data collected off-chain, and the latter are holders of a considerable number of tokens of this particular platform. Together, they guarantee the security and transparency of the transaction.

CDEXes are aggregators of various digital assets. In order to work efficiently, they need to generate liquidity pools of assets distributed on different blockchains. Namely, it is the number and diversity of liquidity pools that attract the participants and liquidity providers to the CDEX.

#stonacademy

TON Sites and TON Proxy Are Live

An important step towards Web 3.0 has been made.

Fully decentralised sites available are for everyone in usual browsers with TON DNS for domain names.

TON Sites and TON Proxy are likely to replace current solutions and get mass-adoption.

STON.fi is glad to see the evolution of The Open Network and is looking forward to seeing TON as a leading blockchain solution.

Now you can read an article on the new features prepared by the TON Foundation.

Have a nice weekend everyone!💎

🥌Quiz from STON.fi

Dear users,

Our bot has opened a Quiz section where you can test your knowledge about TON and crypto in general by answering 10 questions.

To start, enter /quiz in the bot or choose the appropriate menu item.

All questions are based on #stonacademy materials.

Those who successfully pass the quiz will get an award🔥

Go to the bot, answer the questions and share your impressions and prizes in the comments!💎

🥌What is a Smart Contract?

A smart contract is a digital agreement with a set of rules that works on a certain blockchain, such as TON.

The computer code of the smart contract is copied by all validator nodes (computers) connected to the blockchain, which makes the code transparent, unchangeable, and secure.

🗿Smart contracts allow blockchain participants to interact without trust, that is, to make anonymous remote transactions with each other in full confidence that the transactions will be fulfilled in compliance with all the requirements, or will be canceled if the rules are violated.

Smart contracts are autonomous and work 24/7 without human involvement.

Smart contracts are immutable — it is impossible to revise the operating instructions of a smart contract after it is launched (unless such an opportunity was originally established by the developers themselves, but that's a completely different story).

🗿Smart contracts are transparent — the source code, which is based on the public blockchain, is available for anyone to analyze, and thus any vulnerabilities will be detected immediately. Transactions conducted through smart contracts have no need for bureaucracy, and such operations are therefore practically free for users (with the exception of the gas required for the transaction).

Digital wallets, tokenized assets, exchanges, games, DAO communities, and any other applications (DApps) on blockchains can be created with the help of smart contracts.

Lots of announcements are coming soon.
Stay tuned!💎

🗿STON.fi x Tonana DeFi Hub🍌

STON.fi awarded the winners of the Hack-a-TON x Prague with official NFTs from STON.fi of the rarest 1st category.

The Hack-a-TON x Prague offline hackathon for TON developers took place from September 30 to October 2 with a prize pool of $37,000.

The event was organised by the Tonana DeFi Hub project, which creates products in TON ecosystem and received a grant to create a cross-chain bridge.

STON.fi welcomes such events aimed at developing TON.

Here is the list of winners:

🏅DeFi track ➔ TON Payment Tracking Library
🏅SocialFi track ➔ Agorapp
🏅 NFT track ➔ LoyaTON
🏅 GameFi track ➔ Shelbot
🏅 DAO track ➔ Tips_me_bot

Special categories:

⭐️ The best TWA ➔ dDog
⭐️ The best idea ➔ Overton

We congratulate the winners and wish them continued success in their professional development!💎

🥌DeFiTalks with STON.fi

Dear community,

Tomorrow we are launching our new heading – #DeFiTalks

Every week, we will come together in our chat and discuss the most important topics concerning our beloved TON.

It is very important to have a space for discussion. And we truly believe that our chat can become a place where people with different points of view from different countries will be able to share opinions.

We also plan to invite experts and active participants in the community.

🗿This won’t be AMAs or interviews, this will be equal conversations where everyone can afford to express their personal opinion.

Our first discussion will take place tomorrow at 12:00 UTC directly in our chat.

Our guest – Jack Rotgar, founder of the famous channel TON NFT Plus and the topic will be one of the most relevant for the whole TON Community.

“Integration of TON in Telegram”💎

🗿The three most active participants with interesting arguments in the discussion will get 10 TONs each.

Looking forward to seeing you tomorrow in our chat!