Future Outlook For Ston.Fi — Tracking the pattern of development.
Are you curious about the future of Ston.Fi?
Typically, it is difficult to predict the future of most blockchain-related projects as they are dynamic thus could go any length.
However, Ston.fi from its website landing page offers a clue on what to expect in the coming weeks and months from now.
Just like the best way to eat an elephant is to cut it up into little pieces, covering the elements of Ston.Fi’s future would be an article series of 4 parts. This piece being the first of the series would serve 2 functions — first as an introduction of what to expect from subsequent articles and second I will talk about the first phase of future development.
Let’s get to it !
Phase 1 — Cross-chain TON <–> TRON & SDK cross-chain
- Cross-chain TON <–> TRON
Opportunities within DeFi are limited due to a lack of interoperability between Blockchain networks. Due to this, users have to navigate multiple networks to enjoy DeFi features as all features are not in one place. Before now, the most widely used features for cross-chain interactions were wrapped tokens and bridges.
Elsewhere, I have shown the risk related to these methods, check it out here. Nevertheless, there’s light at the end of the tunnel. STon.Fi uses a simple technique — “Request-for-quote (RFQ)” to eliminate the need for wrapped tokens and bridges.
In this phase 1 of development, Cross chain interaction would be established with Tron — a blockchain-based digital platform that seeks to become a distributed virtual machine for decentralized application development.
In the past one month, Tron’s volume has increased from $73M to over $300M, ushering unprecedented growth to it’s ecosystem. Data Source — DeFiLlama.
Swaps between TON and TRON USDT will happen directly on decentralized exchanges (DEXs) without the need for bridges or wrapped tokens as said earlier. Eliminating bridges or wrapped tokens will streamline the trading process, making it more user-friendly. Users will directly swap USDT on TON for USDT on TRON and vice versa, reducing complexity and potential points of failure.
Direct swaps are are enabled by the concept of Request-for-quote (RFQ) and secured by Hashed Timelock Contracts (HTLC) which are smart contracts that lock a transaction until specific conditions are met. Furthermore, these direct swaps could lead to increased liquidity on both TON and TRON networks, (already there’s proof of increased volume on TRON) potentially attracting more users and enhancing the overall market dynamics.
- SDK cross-chain
SDK short for Software Development Kits. An SDK is a collection of software tools and libraries that developers use to build applications and integrations. It provides pre-written code, documentation, and other resources to help developers create software more efficiently and ensure compatibility with other systems.
In this context, cross-chain SDKs provides an interaction between different blockchain networks, allowing for operations like transferring assets, querying data, or executing contracts across multiple chains.
With Ston.Fi’s SDKs, any project will be able to integrate cross-chain operations. Here’s a link to the GitHub repository.
Before you start, try to review the documentation for setup instructions, supported features, and integration guidelines.
Use the SDK to implement the cross-chain features you need. This could involve writing code to interact with different blockchain networks, manage assets, or synchronize data. Thoroughly test your implementation in a test environment before deploying it to production. Ensure that all cross-chain operations work as expected and handle any edge cases.
If you run into issues or need specific guidance, consider reaching out to Stonfi’s support team or community forums for help.
The cross-chain SDK will allow developers from other networks (Ethereum, Binance Smart Chain, and Linea) to develop applications with transfer operations between different networks, without the involvement of third-party exchanges.
About Ston.fi
Ston.fi is a decentralized automated market maker (AMM) built on the TON blockchain providing virtually zero fees, low slippage, an extremely easy interface, and direct integration with TON wallets. STON.fi is at the right place at the right time, to make it simple and fair for these users to access DeFi as easily as they use Telegram.
Thank you for reading through, I’m sure you found the information here useful. Clap for this piece and follow so will be notified when I drop Phase 2 of Ston.Fi’s future update.
