How the exchange of Toncoin and jettons works on STON.fi
STON.fi allows wTON <> jetton and jetton <> jetton exchange operations, where "wTON" stands for "wrapped Toncoin." This approach allows users to freely exchange Toncoin for jettons, as well as exchange jettons for other jettons.
Think of wTON as a container where you put your Toncoin before an exchange to make such an exchange possible.
Toncoin can easily be wrapped and unwrapped right in the DEX user interface.
Think of wTON as a container where you put your Toncoin before an exchange to make such an exchange possible.
Toncoin can easily be wrapped and unwrapped right in the DEX user interface.
Exchange examples
Toncoin <> jetton
Let’s say you want to buy FNZ tokens for 50 Toncoin. To do so, you first need to "put your Toncoin in a wTON container" (wrap them), which can be done right in the exchange interface. First, you wrap 50 Toncoin in 50 wTON, then you exchange the 50 wTON for FNZ.
Jetton <> jetton
Let’s say you have 100 REDSTON jettons, and you want to exchange them for FNZ jettons. If a REDSTON/FNZ trading pair has been added to the DEX, you can simply exchange them directly. If not, you’ll have to first exchange 100 REDSTON for wTON, then the wTON for FNZ.
All the jettons listed on the DEX have a trading pair with wTON, which makes it possible to trade any jetton for any other jetton, though sometimes wTON must be used as an intermediary.
Let’s say you want to buy FNZ tokens for 50 Toncoin. To do so, you first need to "put your Toncoin in a wTON container" (wrap them), which can be done right in the exchange interface. First, you wrap 50 Toncoin in 50 wTON, then you exchange the 50 wTON for FNZ.
Jetton <> jetton
Let’s say you have 100 REDSTON jettons, and you want to exchange them for FNZ jettons. If a REDSTON/FNZ trading pair has been added to the DEX, you can simply exchange them directly. If not, you’ll have to first exchange 100 REDSTON for wTON, then the wTON for FNZ.
All the jettons listed on the DEX have a trading pair with wTON, which makes it possible to trade any jetton for any other jetton, though sometimes wTON must be used as an intermediary.
Disclaimer: The following information is for the geeks and those who want to dive deeper into the technical details. If you just need to exchange your Toncoin and/or jettons for other jettons, the information above is all you need.
Toncoin is not a TON-jetton; it’s a native currency on the TON blockchain, while jettons are smart contracts that respect a standard. Therefore, the direct exchange of Toncoin for jettons, although technically possible, is not optimal; it’s better to keep the gas payment and the amount sent separate. If we create a pair with a Toncoin and try to swap 1 Toncoin for a jetton, this 1 Toncoin will be also used to pay network fees, and the final swap cost may be higher than you expect. Conversely, when using a wrapped asset, you can be sure that you aren’t paying a network fee from it, making the swap easier and cheaper. Also, some DEXs only allow Toncoin-to-jetton pairs, and each jetton-to-jetton exchange is conducted via two trading pairs (jetton A to Toncoin, and Toncoin to jetton B): this increases trading fees and slippage (which means you risk buying an asset at a higher rate than you expect).
Thus, using a wrapped Toncoin is an optimal and more versatile option, since it is made to be more generic, and this provides more trading and other possibilities even initially.
Thus, using a wrapped Toncoin is an optimal and more versatile option, since it is made to be more generic, and this provides more trading and other possibilities even initially.
From a technical standpoint, wTON is wrapped Toncoin. It does not belong to anyone, and is wrapped by the smart contract, and the Toncoin is locked in and kept there until it is unwrapped.
Please see our blog for more about wrapped tokens.
In order to obtain wTON, you send your Toncoin to the smart contract, which wraps your coins into wTON and sends them back to you. Meanwhile, the smart contract holds your Toncoin until you decide to unwrap them. When you do this, the smart contract unwraps the wTON into Toncoin and returns them to you, simultaneously destroying the wTON. It takes a fraction of a second, and you don’t even need to know these technical details: to you, it will look like an exchange of one type of coin/jetton for another, as the crypto exchange does everything automatically.
In order to obtain wTON, you send your Toncoin to the smart contract, which wraps your coins into wTON and sends them back to you. Meanwhile, the smart contract holds your Toncoin until you decide to unwrap them. When you do this, the smart contract unwraps the wTON into Toncoin and returns them to you, simultaneously destroying the wTON. It takes a fraction of a second, and you don’t even need to know these technical details: to you, it will look like an exchange of one type of coin/jetton for another, as the crypto exchange does everything automatically.
There are actually several advantages to using intermediate wrapped wTON jettons for exchanges. With the development of the TON ecosystem, many jettons will inevitably appear, and it would be great to be able to exchange them for one another in all possible combinations, or exchange them for Toncoin and other cryptocurrencies. Technically, even if we could find a way to exchange Toncoin and jettons directly, each trading pair would need a separate smart contract and a separate liquidity pool. In reality, this means that not all pairs would have smart contracts available for them (smart contracts are deployed and liquidity pools are created when someone has a vested interest in doing so). Therefore, you would have to exchange one kind of jetton for another using an intermediate option anyway. In some cases, the chain of exchanges would contain multiple such intermediate options.
wTON, meanwhile, is a universal intermediate jetton that allows users to exchange any jettons for Toncoin or any other jettons in any pairs without having to deploy a smart contract for each pair. Additionally, this approach makes it possible to have only one intermediate exchange link instead of many, and consequently makes the process faster and cheaper.
wTON, meanwhile, is a universal intermediate jetton that allows users to exchange any jettons for Toncoin or any other jettons in any pairs without having to deploy a smart contract for each pair. Additionally, this approach makes it possible to have only one intermediate exchange link instead of many, and consequently makes the process faster and cheaper.
No, you don’t need to buy anything. You can simply convert (wrap) your Toncoin to wTON right before performing a transaction, then convert (unwrap) them back to Toncoin after the transaction is complete.
You don’t have to keep wTON for a long time, although you can if you want to — it’s absolutely safe. Just remember that wTON is only an intermediate tool in the exchange process, meant to solve the issue of compatibility between Toncoin and jettons. You perform this intermediate conversion (wrapping, in fact) in the same exchange interface on STON.fi.
It is secure and happens automatically through the smart contract. Incidentally, the STON.fi smart contracts have been audited by the TON team.
You don’t have to keep wTON for a long time, although you can if you want to — it’s absolutely safe. Just remember that wTON is only an intermediate tool in the exchange process, meant to solve the issue of compatibility between Toncoin and jettons. You perform this intermediate conversion (wrapping, in fact) in the same exchange interface on STON.fi.
It is secure and happens automatically through the smart contract. Incidentally, the STON.fi smart contracts have been audited by the TON team.
The Toncoin <> wTON exchange rate is always 1:1 because technically, it is not an exchange, just wrapping: Toncoin is wrapped into wTON.
You pay only the blockchain commission (0.01−0.03 Toncoin) to wrap Toncoin into wTON, but neither the wrapping smart contract nor the STON.fi exchange charge a commission for such operations.
Though it may be the same wTON, we don’t advise inexperienced users to perform any transactions with wTON outside the STON.fi exchange. Use wTON only as an intermediate tool to exchange Toncoin for jettons and back.
Yes, you can, if the receiver wallet has a valid address on the TON blockchain. In this case, the wTON will appear as a regular jetton. Of course, in order for it to be accepted, you will need a wallet that supports jettons, such as Tonkeeper. In any case, wTON won’t be lost if you send them to a valid TON address. Receivers can unwrap obtained wTON and get Toncoin at any moment, or keep them in the form of wTON.