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STON.FI: A Comprehensive Overview of Features and Capabilities

By gregoricordova | gregoblog | 21 Oct 2023


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Industry overview


With the arrival of blockchain technology more than a decade ago and cryptocurrencies into our lives, innovative solutions and tools have been developed since then to work with them and get the most out of them. We have seen in that time how we have gone from using centralized exchanges to a more convenient and user-friendly solution such as decentralized exchanges or DEX. Get ready and take notes because i'm going to present you one of the most recent decentralized platforms with a gigantic potential to massify crypto adoption in the world that came to revolutionize the financial market and make it fairer for everyone. I'm talking to you about nothing more and nothing less than STON.FI.

STON.FI is a revolutionary decentralized finance (DeFi) platform that aims to provide users with a seamless and secure way to earn passive income through staking and yield farming Built on the Unique and powerful TON Blockchain. Ston.fi offers a wide range of features and capabilities that empower users to maximize their returns while minimizing risk. we will explore the main information and capabilities of Ston.fi, highlighting its key features and benefits in this article

 

But first…


Why choose a decentralized exchange instead of a centralized one?


When considering buying or selling cryptocurrencies, an exchange is usually the first point of contact. Centralized exchanges (CEXs), such as Binance, Kraken, and Coinbase, are digital marketplaces where cryptocurrency trading takes place and are often the first entry point for trading.
In recent years, decentralized exchanges (DEXs) have emerged to challenge CEXs, offering lower transaction fees, allowing users to directly hold their assets, and avoiding some regulatory burdens as they do not need to go through any type of KYC such as This is the case of CEX
A decentralized cryptocurrency exchange is a trading venue where transactions are executed directly between cryptocurrency traders without a central authority. DEXs implement one of the main characteristics of cryptocurrencies: they facilitate financial transactions without banks, brokers, payment processors or any other intermediary in which by connecting your personal wallet you can interact without the platform having access to your funds, as is the case of CEX.


DEX Types:

 

STON:Fi is an Automated market makers or AMM

Within the range of DEXs, STONFI stands out for being an AMM that offers automatic operations according to a specific algorithm. This way, users do not need another operator on the other side to perform an operation. Consequently, they interact with smart contracts. This negotiation principle involving the use of smart contracts is one of the most popular today, gradually replacing others.


Main features of STON:FI


1. Staking:


Ston.fi allows users to stake their crypto assets and earn passive income in the form of staking rewards. By locking their tokens in the platform's staking pools, users can contribute to the network's security and acquire DAO voting power with ARKENSTON and also receive GEMSTON, a commitment token that can be sold or traded at any time. The staking process is simple and user-friendly, making it accessible to both experienced and novice users. To do this you must follow the following steps:

  • 1 have a wallet or create one to access the app. My recommendation is to use tonkeeper which is linked to all dapps in the TON ecosystem
  • 2 recharge it with STON tokens or directly buy TON with USD or EUR through the following payment methods without having to leave the application and then make a TON/STON trade

 

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3. Go to the top of the page and clicking on stake will take you to the next screen where you can place the amount and time you want to stake, which varies from 3 to 24 months. It should be noted that the longer the duration, the more voting power and the more GEMSTON you will receive.

 

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Below you can see how much Gemston and voting power I was able to receive for staking my STON tokens. It should be noted that the DAO has not yet been launched but it is expected that the holders of ARKESTON, the souldbond NFT that they give us to stake, can make decisions about the future of the project. The more tokens you stake, the greater your voting power will be.

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2. Yield Farming:


In addition to staking, Ston.fi offers yield farming opportunities, allowing users to earn even higher returns on their crypto assets. Yield farming allows users to earn passive profits by lending or providing liquidity to STONFI. By providing your cryptocurrencies as liquidity in a pool, you can earn interest or receive rewards in the form of additional LP tokens. Ston.fi supports various liquidity pools, enabling users to choose the most profitable farming opportunities.


Benefits of yield farming at STON.FI:


1 High returns: Yield farming on a DEX can offer very attractive returns compared to other traditional investment options. This is due to the high demand for liquidity on DEXs and the additional incentives offered by DeFi projects.


2 Flexibility and liquidity: Yield farming on a DEX offers flexibility and liquidity to users. You can deposit or withdraw your funds at any time, allowing you to take advantage of investment opportunities or respond to changes in the market quickly.


3 Participation in promising DeFi projects: By participating in yield farming, users can contribute to the growth and development of DeFi projects and benefit from tokens of very promising projects that are continuously being launched in the TON ecosystem. By providing liquidity, you are helping to maintain the operation of STONFI and facilitate the exchange of tokens in the DeFi ecosystem

In this tweet you can see an explanatory video on how to easily carry out the farming process step by step. 

                                                     

3. DAO Governance:


Ston.fi is a community-driven platform that gives users a voice in the decision-making process. ARKESTON Token holders can participate in the platform's governance by voting on proposals and shaping the future development of Ston.fi. This ensures a decentralized and inclusive ecosystem where all stakeholders have a say in the platform's direction.

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This is an example of the NFT they give you in your wallet after staking. It cannot be transferred and gives you voting power in future decisions about the future of ston.fi

4. Security:


Security is a top priority for Ston.fi, and the platform implements robust security measures to protect user funds and data. Smart contracts are audited by reputable third-party firms to ensure their integrity and eliminate any potential vulnerabilities.
Using the RFQ-protocol combined with HTLC smart contracts, leveraging the power of the innovative and powerful TON blockchain for speed and security, STON.fi offers a valuable and accessible solution that empowers users to manage their digital assets while maintaining full control.


In a nutshell, stonfi can be called a zero-trust cross chain DEX because it is based on the principles of Zero-trust and decentralization which is designed to provide robust security and absolute transparency when carrying out p2p transactions without the need for an authority. central. Furthermore, with the upcoming DAO governance model, the major decisions will be made by the users, which makes it even much more decentralized.


5.Easy to Use:


Ston.fi boasts a user-friendly interface that makes it easy for users to navigate and utilize the platform's features. The intuitive design and seamless user experience ensure that even beginners can quickly grasp the functionalities and start earning rewards. Ston.fi also provides comprehensive documentation and tutorials to assist users at every step of their journey. For example, if you are a user who is only going to exchange one currency for another, you only have to follow these 5 simple steps:

  • 1 Connect your wallet to the app
  • 2 Select the trading pair
  • 3Place the desired amount
  • 4Verify the data, the commissions, and confirm the transaction
  • 5 Wait for the transaction to be processed and READY, it's that EASY

 

6. Cross-Chain Compatibility, its main Value innovation


Whether you are a novice user or an experienced one, at some point you will encounter certain obstacles when exchanging some of your tokens between different networks. It is a problem that has existed for a long time on the network, which does not have many interoperability mechanisms between blockchains. For this reason STONFI seeks to create an innovative solution to easily move our assets between different blockchains. The well-known atomic swap or the Request for Quote (RFQ)-based DeFi protocol with cross-chain swaps implemented via Hashed Timelock Contracts (HTLC). This technology completely eliminates dependence on third parties, the need for second layers and minimizes the risk associated with the security or loss of your funds, while taking advantage of the great advantages of the already known ultra-fast TON network.


Such mechanisms implemented by these robust technologies with which STON.FI works have the following Advantages:

  • Ease of use
  • Without any KYC procedure
  • Fees guaranteed, there will be no surprises since the protocol guarantees that there are no extra fees to pay (Hello there ethereum traders)
  • Without the possibility of loss of funds, since at all times you are the only one responsible and there are no third parties or other exchanges acting in the process


According to its Roadmap, the corresponding swap tests have already been carried out between the TON and TRON blockchains, but there are still some tasks to be carried out and it seems that very soon we will see this functionality fully active on the platform. These are the next steps to finally complete the long-awaited Cross-chain mechanism:

 

  • Developing an internal database to store transactions.
  • Launching a synchronization service between the internal database and the TON and TRON networks.
  • Establishing a notification system for bidders
  • Preparing for high-volume transaction processing between the TON and TRON Blockchains
  • Designing the UI (user interface).


These components, in conjunction with the already developed smart RFQ & HTLC, form the foundation of the DEX cross-chain platform. This platform will facilitate token exchanges between blockchains at fixed rates, without slippage, no need for bridges and wrapped liquidity


This mechanism is expected to be released very soon on the platform, and will not require any bridges or wrapped tokens.

Conclusion:


The mission that STON.Fi has in the current market is to make financial services easily accessible to all users, without the need to use external entities, and with very advanced security and technology mechanisms. At a time when many centralized exchanges have had million-dollar losses and many users have been affected by theft, using a DEX like ston.fi is a solution to this problem and that is why lately we have seen a change of focus and transition from CEXs to DEXs, where users are the absolute owners of their finances


The integration of a solution as valuable as cross-chain in the platform will help more users to easily exchange their tokens from different networks without even leaving the app and it will benefit from the great hype that exists today about  the news of Telegram's partnership with TON, which will further expand the visibility of STON.FI to an audience of more than 800 million users


In a nutshell Ston.fi is a powerful DeFi platform that offers users the opportunity to earn passive income through staking and yield farming. With its user-friendly interface, robust security measures, and cross-chain compatibility, Ston.fi provides a comprehensive solution for users seeking to maximize their returns in the decentralized finance space. Whether you're a seasoned DeFi enthusiast or a beginner looking to explore the world of crypto investments, Ston.fi offers a range of features and capabilities to suit your needs.

Below I leave you the links to the social networks and pages of STON.FI, where you will find a vibrant community of enthusiasts, developers and entrepreneurs who will be willing to help you with any questions you may have.

 

Website: https://ston.fi/

Web App: https://app.ston.fi/

Github: https://github.com/ston-fi/

Twitter: @ston_fi

Telegram: @stonfidex

Reddit: https://reddit.com/r/STONFi/ 

 

 

 

                                                                                            

                           

                           STON:FI is LIVE ! Have a lot of PROFITS with US !

 

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gregoricordova
gregoricordova

cryptocurrency enthusiast and passionate writer in my spare time


gregoblog
gregoblog

My intention here is to raise awareness about the potential of the blockchain and all the capabilities that cryptocurrencies have to offer us. so ... enjoy!

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