Fiat
Markets
Exchange
Futures
Finance
Promotion
More
Newbie
Log In
CoinEx Academy

Is STON Going to Be the Next Flagship Project on the TON Blockchain?

2024-06-07 08:09:32

STON.fi, or shortly STON, is a new project built on top of The Open Network or TON blockchain. It is a decentralized exchange or DEX that claims to provide virtually zero fees as well as direct integration with the TON wallets. Let's analyze the project inside out to find out if it holds the potential to become the next flagship project on the TON blockchain.

Brief History and Background

TON is a popular blockchain network by Telegram with a circulating market cap of nearly $3.5 billion at the press time. Thanks to its fast speed, extremely low fees, and scalability, TON has recently started gaining developers' interest in building different projects. These projects include community tokens, exchanges, and much more.

One such project that has recently appeared on the crypto market screens is STON.fi, which has a native token, STON. It is a cross-chain DEX that claims to provide a quick, secure, and cost-efficient solution to crypto users. The purpose is to enable users to swap native tokens across multiple chains without the need for bridging or wrapping.

On top of that, the team aims to integrate the STON.fi into the Telegram messenger to allow users to manage and trade assets within the messaging app. STON.fi plans to solve cross-chain swap limitations by introducing a Request for Quote (RFQ)-based DeFi protocol with cross-chain swaps implemented via Hashed Timelock Contracts (HTLC).

According to the team, such a solution can eliminate the need for intermediaries or third parties while minimizing security risks and enhancing transaction speeds. Other major advantages of this solution include the fact that there is no accidental permanent loss of funds, guaranteed transaction rates, and predictable transaction times without the need for KYC.

The Price Change of STON on CoinEx

STON Price Change on CoinEx: Native token of AMM DEX with 100 million max supply, 1 million tokens in circulation, 16% increase in 7 days, $15 to $22.07.

As a native token of this automated market maker (AMM) DEX, STON has a maximum token supply of 100 million. From this, only 1 million STON tokens are currently floating in the market for trading. The coin rose more than 16% in the last seven days, jumping from a price of $15 to as much as $22.07.

It has a total supply of 100 million coins. Out of this, only 1.68% of the supply is currently in circulation, with a circulating market cap of more than $31 million at the press time. The chart data shows that STON has recorded a 24-hour trading volume of $48.85K. The coin's current price revolves around $19.4.

If you're interested in trading cryptocurrencies, the best place to get outstanding volatility and prices is CoinEx.

Overview:

*This article does not constitute investment advice.

Prev
The Rise of Rune Coins: How Bitcoin's New Concept Surpassed $1.4 Billion Market Cap
Next
Blockchain Exploration at Brazil's ITA University: CoinEx Charity Collaborates with Polkadot