- Telegram users can now easily swap their Toncoin and other tokens directly from the messaging app thanks to a seamless integration with the TON Space wallet and the STON.fi DEX.
- The lightweight wallet experience introduces newcomers to decentralized finance without heavy documentation or technical expertise.
- Toncoin is aiming to grow its userbase by deepening its integration with secure messaging app Telegram and offering user-friendly products.
Telegram users who hold Toncoin (TON) tokens can now easily swap their assets right from within the popular messaging platform. This is because the TON Space wallet, which is integrated with the Telegram app, has introduced a new token swapping feature.
The new feature allows Telegram users to store, send, and now swap TON and other Toncoin-based digital assets without ever leaving the comfort of their Telegram chat. With a taps, holders can take advantage of on-chain liquidity pools to exchange one digital currency for another at the best available rates.
The new feature is a significant step forward for accessibility and opens up decentralized finance (DeFi) to many new users just starting their blockchain journey. As anyone who has tried using a third-party crypto exchange can tell you, the user experience leaves much to be desired. Getting funds onto unfamiliar platforms requires jumping through hoops like KYC checks and long deposit times.
By contrast, the TON Space wallet gives curious newcomers a more friendly on-ramp into the crypto ecosystem. With token swaps just a few taps away in the Telegram app, the barrier to trying out DeFi is reduced considerably.
The token swap feature is powered by the STON.fi DEX
The new token swap feature is underpinned by the STON.fi decentralized exchange. Built specifically for the TON blockchain, STON.fi allows users to provide liquidity and earn trading fees by facilitating swaps between compatible assets.
Using sophisticated bonding curve algorithms, STON.fi guarantees traders can exchange one token for another at the best price possible, with virtually no slippage. STON.fi is running on top of the TON blockchain, which recently claimed the title of “World’s Fastest Blockchain” after processing over 100,000 transactions per second in a public test.
Through its integration with STON.fi, the TON Space wallet gives users direct access to deep liquidity pools containing many of the most popular coins on TON. With a few taps, holders can exchange their Toncoin for other tokens like WTON, fUSDT, and even Ethereum-based assets via the expanding Evmos bridge.
It’s all done seamlessly from within Telegram and without self-custody concerns- a real game changer for accessibility. As liquidity on STON.fi expands, traders have more options than ever to diversify their portfolios or take profits with just a few clicks.
Bright days ahead for the TON ecosystem
With the TON blockchain breaking new speed and scalability records, its integration with secure messaging titan Telegram looks to unlock tremendous potential going forward. As user-friendly DeFi products like the TON Space wallet gain more users, all signs point to bigger and better things ahead.
Regulators and institutions are also taking note. Dubai recently added TON to its list of recognized cryptocurrencies, a major vote of confidence that could drive further institutional involvement. Price-wise, TON continues trending upwards and recently hit multi-month highs – a trajectory many analysts predict will continue.
Optimistically, we may be in the early stages of a new bull cycle. In just the past month, TON has surged over 20% to its current $2.37 price tag. The Toncoin price prediction on CoinCodex has an average 2023 target of $3.65 and a bullish 2024 target approaching $5.
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