STON.fi is tackling the challenges faced by the DeFi ecosystem by offering seamless cross-chain transactions without the need for wrapping or bridging.
Decentralized finance (DeFi) is revolutionizing the financial sector by eliminating the need for intermediaries, giving users more control over their assets. However, the lack of interoperability between blockchain networks hinders access to the innovative opportunities that DeFi has to offer. Users often have to resort to third-party services to transfer assets between blockchains, which can expose them to security risks and delays.
STON.fi, a decentralized exchange (DEX) built on The Open Network (TON) blockchain, is set to revolutionize cross-chain swaps by providing a solution to these challenges. With a total value locked (TVL) of over $200 million and a trading volume exceeding $600 million, STON.fi offers a user-friendly platform for seamless token transactions across networks.
By leveraging a liquidity pool model and advanced functionalities like farming and staking, STON.fi ensures minimal price impact and slippage for users. The platform eliminates the need for wrapped tokens and bridges, simplifying cross-chain transactions and enhancing security.
Through a combination of request for quote (RFQ) and hashed timelock contracts (HTLC), STON.fi enables users to swap assets securely without the need for intermediaries. This innovative approach ensures that both parties receive their intended assets or receive a full refund in case of dishonest behavior.
STON.fi has made significant strides in the DeFi space by listing TON-based Tether (USDT) and launching NOT, the token of the popular Web3 game Notcoin. The platform has also secured investments from leading investors and industry experts, further solidifying its position in the market.
CEO Slavik Baranov emphasized the platform’s commitment to ensuring secure and seamless token swaps for Telegram users and beyond. By promoting interoperability in asset transfers, STON.fi aims to make the DeFi environment more inclusive and efficient, paving the way for greater value and accessibility in the decentralized space.