Crypto.com Partners with Tonstakers for Enhanced TON Staking Opportunities ?
This year, Crypto.com has expanded its offerings by integrating Tonstakers as its primary provider for staking TON. This significant development allows users to engage with the system more robustly and conveniently than ever before.
With this integration, over 100 million users utilizing Crypto.com can now seamlessly access the most prominent liquid staking protocol on the TON network, ensuring both safety and ease in managing their assets.
Introducing Tonstakers: Your Native Option for TON Staking ?
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Tonstakers functions as a liquid staking solution built on the TON blockchain, enabling users to earn returns on their Toncoin tokens through staking.
As part of this process, when you stake your TON, you receive a liquid staking receipt token in return. This token grants you the flexibility to trade freely or redeem it whenever you wish to withdraw your staked TON. Here’s what to keep in mind:
- The value of the liquid staking receipt token adjusts according to the rewards accumulated over time.
- Tonstakers currently manages more than 75% of all Toncoin in liquid staking.
- According to sources, it stands out as an optimal choice for those eager to access liquid staking on the TON blockchain.
This integration aligns with a trend of collaborations between Tonstakers and other notable exchanges, including Bybit, OKX, and Gate, showcasing a growing recognition of the utility offered by this protocol.
Understanding Staking on the Open Network (TON) ?
The Open Network, referred to as TON, operates on a Proof-of-Stake (PoS) consensus model, requiring validator nodes to stake a designated amount of TON to validate transactions. In return for their support, these nodes earn rewards in Toncoin.
Importantly, you do not need to run a validator node to stake your tokens. By leveraging protocols like Tonstakers, it’s possible to stake your TON on third-party nodes, thereby receiving a share of the rewards. Here are a few insights regarding this process:
- Rewards are variable, reflecting the dynamic nature of the network.
- The functioning of validator nodes is crucial as they confirm transactions; without them, the ecosystem would struggle.
- As with any investment in the crypto space, staking TON carries inherent risks, including potential penalties for misbehaving nodes and security concerns related to smart contracts.
The Evolution of The Open Network (TON) ?
Recently, the TON ecosystem has garnered renewed interest from various participants in the crypto market. For instance, Toncoin, along with other tokens like Notcoin and DOGS, has been officially listed on exchanges like Kraken earlier this month.
This resurgence follows a period of consolidation in the decentralized finance (DeFi) sector after experiencing explosive growth throughout the summer of 2024. A few observations include:
- The total value locked (TVL) in DeFi on the TON has tailored down to approximately 177 million dollars from a high of 700 million dollars last year.
- This inflation in value previously stemmed from the meme coin frenzy, which later shifted its focus toward the Solana blockchain.
About Crypto.com: A Leading Exchange in the Crypto Space ?️
Crypto.com stands out as a prominent cryptocurrency exchange known for its mobile application platform. With a user base exceeding 100 million and several years in operation, the exchange continues to adapt and innovate.
Recently, the exchange has expanded its portfolio by introducing the Tonstakers Earn feature. This allows users to tap into a multi-ecosystem liquidity pool, offering diversified earning opportunities through the provision of tsTON to external DeFi protocols. This strategy lets users earn additional rewards, optimize their staking positions, or issue over-collateralized stablecoins.
Insights from Tonstakers’ CEO, Roman D ?
Roman D, the Chief Executive Officer of Tonstakers, articulated the significance of this collaboration:
“This partnership simplifies access to TON staking for millions of users worldwide, allowing them to receive competitive rewards and increasing the adoption of DeFi within the ecosystem. Each partnership we form with world-leading platforms like Crypto.com increases accessibility and boosts liquidity within the TON ecosystem.”
Embrace the opportunities presented by this integration and explore the liquid staking potential within the thriving TON ecosystem!
