- Tonstakers leads the TON DeFi space with $186M in total importance bound.
- STON.fi experienced a precise 39% withdrawal in overall worth sealed last month.
- The TON DeFi ecosystem’s total value locked reaches $370M, showing growing adoption.
The Open Network (TON) environment now has a total value locked (TVL) of about $370 million. This growth emphasises the increasing use of decentralised finance (DeFi) on the TON blockchain. Tonstakers leads the way with $186 million in TVL and is the top-clearly placed protocol in the ecosystem. However, the procedure saw an 8% drop in TVL last month, which might suggest changes in business activity or user preferences.
The Role of Liquid Staking in TON
Staking is essential to the security of any Proof-of-Stake blockchain and TON is no different. The TON system currently has 550 million Toncoin staked with a worth of $3 billion. This level of staking shows how important it is to the network and how it rewards users.
Liquid staking lets users stake tokens while keeping their liquidity. Tonstakers is the leading liquid staking regulation, and it continues to attract major TVL even with recent changes. The drop in TVL may signal shifts in the broader DeFi market on TON showing that even top protocols must stay flexible.
Challenges for STON.fi and DeDust
While Tonstakers remains solid, other TON DeFi stages are facing problems. STON.fi, a decentralised exchange (DEX) on TON, holds $172 million in locked valuables. It is the second-largest protocol by TVL, but it experienced a 39% decline last month. This exact drop raises an important question: What is causing the decrease in market liquidity and user participation on STON.fi?
DeDust, another DEX on TON, follows with $137 million in TVL. It too has faced sales pressures with a 48% decline over the past 30 days. These declines in TVL across major DEX platforms show a broader trend of liquidity challenges in the TON DeFi space.
TON Foundation’s Actions
In response to these business shifts, the TON Organisation has taken action. They have introduced measures to boost the use and liveability of liquid staking tokens. These incentives focus on the largest liquid staking token pools on platforms like STON.fi and DeDust. For example, users can swap some of their Tonstakers tsTON to USDT and then invest in the STON.fi tsTON/USDT liquidity pool. This allows users to earn trading fees and farm extra rewards.
These efforts by the TON Foundation aim to keep TVL stable and get users more involved. Despite the challenges some protocols face, the overall TVL in the TON ecosystem remains strong. Some niche platforms with unique services have performed well, which suggests that while some areas struggle, others continue to succeed.
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