STON.fi
STON.fi is a decentralized exchange and AMM protocol on the TON blockchain offering non-custodial token swaps, liquidity provision, and yield farming for 30,000+ TON-based tokens, with native Telegram integration serving retail crypto users, token issuers, and developers.
- Company typePrivate
- Founded2022
- HeadquartersDubai, United Arab Emirates
- Headcount101–250
- GTM typeB2B and B2C
- OfferingSoftware
What STON.fi does
STON.fi is a decentralized exchange (DEX) and automated market maker (AMM) protocol built on the TON blockchain, launched in Q3 2022. The platform enables non-custodial token swaps, liquidity provision, and yield farming across 30,000+ TON-based tokens, leveraging TON's 1-2 second transaction finality and sub-$0.10 transaction costs. The protocol serves three primary user segments: retail crypto users seeking DeFi access on TON (the largest segment), token issuers seeking liquidity and user reach, and developers integrating swap and liquidity functionality via the Omniston aggregation protocol, API, SDK, and plug-and-play widget. Distribution leverages Telegram's 900M+ user base through a native Telegram Mini App and Tonkeeper wallet integration, positioning STON.fi at the primary on-ramp for Telegram-native crypto adoption.
Revenue is generated through swap fees of approximately 0.2% per transaction paid by swappers to liquidity providers; the protocol retains a portion for the treasury while operating a product-led growth model with self-serve wallet connection and no KYC requirements. Go-to-market is purely PLG via the web dApp at app.ston.fi, Telegram Mini App, and B2B/OEM distribution through the Omniston Widget and gRPC-native API. Revenue mechanics depend on cumulative trading volume rather than subscription contracts, with the platform reporting $3.76B all-time volume, $62.5M TVL, 5.3M unique swappers, and 27.5M all-time swaps.
Key technology components include the Omniston liquidity aggregation protocol with RFQ-based multi-DEX routing, Protocol v2 features (arbitrary liquidity provision, chain liquidity, sniper protection, impermanent loss protection, referral fee vault), escrow swaps, and DAO governance launched in Q4 2025. The company has raised $9.5 million in disclosed funding via a Series A in July 2025 co-led by Ribbit Capital and CoinFund (preceded by an undisclosed round in May 2024 led by CoinFund). Legal domicile is the British Virgin Islands per Terms of Use, with operations spanning London and Dubai; headcount is 51-100. Security is anchored by a Trail of Bits audit of v2 smart contracts (January 2025) and active bug bounty programs with Certik and HackenProof.
STON.fi firmographics
Firmographics- Name
- STON.fi
- Legal name
- STON.fi
- Website
- https://ston.fi
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- STON.fi is a decentralized exchange and AMM protocol on the TON blockchain offering non-custodial token swaps, liquidity provision, and yield farming for 30,000+ TON-based tokens, with native Telegram integration serving retail crypto users, token issuers, and developers.
- Ownership category
- akta.pro rank
STON.fi industry classification
Industry- Product category
- Decentralized Exchange (DEX)
- NAICS
- Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Market Making & Liquidity Provision (FSADAJAC)
- akta.pro secondary industry
- Tokenization, Network Vaults & Credential Management (FSAGABAF)
Keywords
Where STON.fi is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
STON.fi business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain
Revenue model
- Swap Fees: STON.fi charges swap fees from transactions executed through the protocol. Liquidity providers earn swap fees (typically around 0.2% per transaction) from pools they provide liquidity to.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Platform-wide fee structure |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
STON.fi product offering
Product offeringCore offering
STON.fi operates a decentralized exchange and automated market maker on the TON blockchain that enables token swaps, liquidity provision, and yield farming across 30,000+ TON-based tokens with 1-2 second finality and transaction fees under $0.10. The platform also offers the Omniston liquidity aggregation protocol and widget for partner integrations, along with native STON governance and GEMSTON reward tokens, DAO governance, and supporting developer tools (API/SDK).
Product overview
STON.fi is a decentralized exchange and DeFi protocol built on the TON blockchain, operating as a platform-plus-modules architecture. The core product is the dApp providing swap, liquidity provision, and farming for 30,000+ TON-based tokens. Key modules include Omniston (liquidity aggregation protocol with widget), DAO Governance, and the Ethena integration. The ecosystem includes native tokens STON (governance) and GEMSTON (rewards), along with developer tools (API/SDK), calculators, and community programs (grants, ambassadors).
Differentiator
Problem solved
Functional benefit
Brands
- Omniston: Liquidity aggregation protocol that enables apps to access liquidity and liquidity providers to reach users through one integration.
- STON
- GEMSTON
Products and services
- STON.fi dApp (Swap, Liquidity, Farm) Core decentralized exchange application providing token swapping, liquidity provision to AMM pools, and yield farming across 30,000+ TON-based tokens, with 1-2 second transaction finality, sub-$0.10 fees, and full self-custody.
- Omniston Liquidity Aggregation Protocol Liquidity aggregation protocol that connects apps to deep liquidity and enables cross-DEX swaps through one API integration, with RFQ-based multistep routing for optimal pricing.
- Omniston Widget Plug-and-play widget enabling third-party apps to embed STON.fi liquidity aggregation and swap functionality with cross-chain support.
- STON Token (STON) Native utility token of the STON.fi protocol enabling decentralized governance through long-term staking and DAO voting power for protocol decisions.
- GEMSTON Token Engagement and reward token distributed to users who stake STON tokens, functioning as an incentive and reputation layer.
- DAO Governance Decentralized governance system with on-chain proposals, voting, and staking participation for protocol decision-making.
- Ethena Integration (ethena.ston.fi) Dedicated interface for Ethena protocol integration, enabling users to access Ethena's USDe stablecoin and related DeFi activities within the STON.fi ecosystem.
- xStocks Tokenized stocks offering allowing users to access traditional financial instruments within the TON DeFi ecosystem.
- STON.fi API and SDK gRPC-native API and SDK for developers to integrate swap and liquidity functionality into third-party applications and wallets.
- Escrow Swaps Swap functionality using private liquidity for improved price performance and execution quality.
Quantifiable outcome
- 27M+ all-time swaps executed
- +3 more outcomes
Companies that use STON.fi
Customer profileSegments3 records
Ideal customer profiles3 records
STON.fi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability1 record
Feature6 records
STON.fi partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- TonkeepercoreThird-party wallet integration where swaps have been integrated, enabling users to access STON.fi liquidity directly through Tonkeeper.
- Trail of BitscoreLeading blockchain cybersecurity firm that completed comprehensive audit of STON.fi v2 smart contracts in January 2025. Audit reports are publicly available on GitHub.
- CertikminorActive bug bounty campaign partner maintaining security vulnerability rewards for STON.fi smart contracts.
- HackenProofminorBug bounty campaign partner for security researchers to identify vulnerabilities in STON.fi protocols.
Scale indicators8 records
Recent moves6 records
Expansion highlights7 records
STON.fi competitors and assessment
Company assessmentBroad incumbents
- Uniswap: Uniswap is the dominant Ethereum-based AMM DEX with multi-billion-dollar TVL and broad token coverage. It is comparable to STON.fi as the canonical AMM model and direct competitor as cross-chain expansion reaches Ethereum. STON.fi is a chain-specific equivalent in the TON ecosystem.
Direct peers
- PancakeSwap: PancakeSwap is the leading DEX on BNB Chain and has expanded to multiple chains, offering AMM, farming, and lottery products to a retail crypto audience. It is directly comparable to STON.fi in both business model (AMM + farming) and target user (retail crypto users on a non-Ethereum L1).
- Jupiter: Jupiter is the dominant DEX aggregator on Solana with RFQ-based routing, limit orders, and perpetuals. It is directly comparable to STON.fi's Omniston aggregator product, as both combine AMM with advanced routing to optimize execution for end users in a high-throughput L1 environment.
- Raydium: Raydium is a leading AMM on Solana with concentrated liquidity and an on-chain order book. It is directly comparable to STON.fi as a chain-native AMM that combines traditional AMM pools with newer features (concentrated liquidity roadmap for STON.fi's v3 in Q3 2026).
- Curve Finance: Curve is a specialized AMM focused on stablecoin and like-asset swaps with low-slippage pools. It is comparable to STON.fi's Stable, WStable, and WCPI pool types, which address the same use case (efficient stablecoin/peg-asset swaps) on TON.
- SushiSwap: SushiSwap is a multi-chain AMM DEX deployed across Ethereum, Arbitrum, Polygon, and others with swap, farming, and staking products. It is comparable to STON.fi's cross-chain ambitions and as a competing multi-chain AMM with similar product breadth (swap + farm + staking).
- Trader Joe: Trader Joe is the dominant DEX on Avalanche with AMM and limit order book functionality. It is directly comparable to STON.fi as a chain-specific DEX that pioneered DeFi in its respective L1 ecosystem and is pursuing cross-chain expansion (Trader Joe on Arbitrum).
- QuickSwap: QuickSwap is a leading Polygon-native AMM DEX with low-fee swaps and concentrated liquidity. It is directly comparable to STON.fi as a low-cost, chain-native DEX targeting retail users in an alternative L1 ecosystem.
Emerging players
- 1inch: 1inch is a multi-chain DEX aggregator that splits and routes orders across DEXs for best execution. It is comparable to STON.fi's Omniston RFQ-based routing functionality and represents the type of aggregator competitor STON.fi will face as cross-chain capabilities come online.
Others
- 0x: 0x is a crypto infrastructure provider whose API powers DEX aggregation across multiple chains and wallets. It is thematically comparable to STON.fi's Omniston, as both provide the underlying swap/aggregation infrastructure that wallets and apps can integrate rather than competing as a consumer-facing DEX.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
STON.fi social profiles
Digital presenceSTON.fi compliance and trust
Trust signalCompliance3 records
STON.fi financial estimates
Financial estimateRevenue estimate
Valuation estimate
STON.fi leadership team
Management profileNumber of profiles
Profiles1 record
STON.fi funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
STON.fi M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about STON.fi
What does STON.fi do?
STON.fi operates a decentralized exchange and automated market maker on the TON blockchain that enables token swaps, liquidity provision, and yield farming across 30,000+ TON-based tokens with 1-2 second finality and transaction fees under $0.10. The platform also offers the Omniston liquidity aggregation protocol and widget for partner integrations, along with native STON governance and GEMSTON reward tokens, DAO governance, and supporting developer tools (API/SDK).
Is STON.fi a public or private company?
STON.fi is a private company. It is classified as venture growth investor backed and is currently operating.
When was STON.fi founded?
STON.fi was founded in 2022. It employs 101 to 250 people.
Where is STON.fi based?
STON.fi is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does STON.fi make money?
One revenue line is on record: swap Fees.
Who are STON.fi's main competitors?
Uniswap is listed as a broad incumbent. Direct peers are PancakeSwap, Jupiter, Raydium, Curve Finance, SushiSwap, Trader Joe and QuickSwap. 1inch is listed as an emerging player. 0x is listed as an others.
Does STON.fi have an API?
Yes. STON.fi offers an API and SDK for developers to integrate swaps and liquidity functionality into third-party applications. The API enables B2B integration tools for partners to integrate swaps into apps. Roadmap indicates upcoming API v2 with gRPC-native, high-performance API optimized for AI-assisted development. Developer documentation is at docs.ston.fi.
What industry is STON.fi in?
STON.fi's product category is Decentralized Exchange (DEX). Its primary akta.pro industry code is FSADAJAC, Market Making & Liquidity Provision, with a secondary code of FSAGABAF, Tokenization, Network Vaults & Credential Management. Its NAICS code is 523210 and its SIC code is 6200.