DeFi on TON
Decentralized finance in the TON ecosystem: token swaps, lending, staking and derivatives run by smart contracts with no banks or middlemen. Core protocols include STON.fi, DeDust, EVAA, Storm Trade and Tonstakers.
Aliases: decentralized finance, defi ton, ton defi
DeFi (Decentralized Finance) is financial services that run on the smart contracts of a public blockchain rather than on the servers of a bank or exchange. DeFi on TON is the implementation of those services inside The Open Network ecosystem.
What DeFi covers
- Token swaps (DEX). Trading with no central operator — see dex and the amm mechanism.
- Lending. Loans collateralised by jettons with no paperwork.
- Staking and liquid staking. Yield from securing the network — see liquid-staking.
- Derivatives. Perpetual futures and leveraged trading.
The TON DeFi landscape
- STON.fi and DeDust — the largest amm-based DEXs.
- EVAA — a lending / borrowing protocol.
- Storm Trade — derivatives and leveraged trading.
- Tonstakers, bemo — liquid staking of TON that issues a derivative token.
How it differs from CeFi
CeFi (Centralized Finance) means exchanges and services like Binance: they hold your keys and funds, require KYC, but take on support and compliance. DeFi returns control to the user — you trade straight from your wallet and keep your keys, but you also carry full responsibility for mistakes.
Key risks
- Smart-contract vulnerabilities — bugs and exploits can drain a pool.
- Impermanent loss — a loss for liquidity providers when prices diverge.
- Collateral liquidation when an asset price drops sharply.
- Scam projects — anonymous teams, fake tokenomics.