TL;DR
- The DEX ecosystem on the TON network has grown exponentially, increasing the number of addresses and transactions in recent weeks.
- STON.fi leads the DEX sector with 90% of transactions and reports a 15% increase in addresses, while DeDust grew by 14.9%.
- Integration with Telegram has been key to this growth, despite challenges such as the temporary drop in the price of Toncoin following the arrest of Pavel Durov.
The decentralized exchange (DEX) ecosystem on the TON network has experienced exponential growth in recent weeks, with a considerable increase in the number of addresses and transactions.
Recent data reveals that platforms like STON.fi and DeDust are attracting a growing number of users, with increased adoption of this network for trading needs. STON.fi stands out as the sector leader, capturing around 90% of all DEX transactions on the TON network. Its dominance is due to its user-friendly interface, advanced security measures, and a wide variety of available trading pairs.
Between September 1 and September 23, STON.fi reported a 15% increase in the number of addresses, reaching a total of 171.3k. DeDust also showed healthy growth, with a 14.9% increase, achieving 171.4k addresses. Although Megaton Finance recorded a more modest growth of 1.75%, with a total of 5.8k addresses, its performance still aligns with the positive trend characterizing the DEX ecosystem on TON.
Comparing this data with figures from April, an astronomical increase in addresses is observed, with STON.fi and DeDust showing increases of 924% and 1053%, respectively, starting from a combined total of just 14.8k.
The Overwhelming Success of TON Alongside Telegram
Additionally, the growth of daily transactions on the TON network has followed the same trajectory. Transactions rose from 319.4k in January to 11.4 million in September, representing an impressive growth of 3,569,092%. The total value locked in the network has also dramatically increased, reaching $420.2 million, an increase of over 3,000% since January.
A key factor explaining this growth has been the integration of the TON network with the popular messaging app Telegram, which has nearly 950 million users. This connection has allowed TON to access a broad user base through features such as an official wallet embedded in the app and support for various bots and mini-apps.
However, the ecosystem has faced some setbacks. The arrest of Telegram CEO Pavel Durov caused a temporary drop in the price of its native cryptocurrency, Toncoin, which fell to its monthly low before slightly recovering. The community issued a statement, condemning the arrest as an attack on freedom of expression.
