stTON is a derivative token offered by bemo, a pioneering liquid staking platform on The Open Network (TON) blockchain. bemo platform was designed for individual and institutional TON token holders. It provided a non-custodial staking solution, allowing users full control over their tokens.
stTON is a liquid staking token, representing staked TON on bemo, maintaining liquidity, and allowing holders to participate in DeFi applications while accruing staking rewards.
TON holders using bemo platform can engage in the network's validation process without the traditional barriers associated with staking. This includes overcoming the need for extensive blockchain knowledge, high-performance hardware, and large minimum stakes. Traditional staking results in illiquidity, as tokens are locked until the end of the validation round. bemo addresses these issues by enabling any amount of TON tokens to be staked, thereby democratizing access to the TON PoS validation process.
## How does stTON work?
The bemo protocol, comprising a set of smart contracts on the TON blockchain, oversees TON deposits, the minting and burning stTON tokens, and validator transactions. It is also responsible for calculating and distributing staking fees and determining the stTON vs TON exchange rate.
Users stake TON tokens and, in return, receive stTON tokens, symbolizing their share in the TON pool. The quantity of stTON allocated is determined by the amount of TON staked and the current stTON/TON rate.
Validators, essential in facilitating transaction validations on the TON network, receive TON tokens. After deducting service fees, the rewards they earn increase the bemo TON pool's value and, consequently, the value of stTON.
Users can unstake stTON at any time, leading to a cooldown period lasting between 36 to 72 hours. After this period, stTON is converted back to TON based on the prevailing exchange rate, allowing users to claim their TON tokens.
## What is stTON?
stTON is a liquid token representing your share of the total TON pool deposited into bemo.
Its design as a value-accruing token means that its price appreciates due to staking rewards while the quantity of tokens stays unchanged. Over time, your deposited TONs earn staking rewards, and the value of your stTON appreciates.
As TONs deposited in bemo earn staking rewards, the value of each stTON token increases correspondingly. The price of stTON relative to TON is determined by a smart contract after each validation round. This calculation involves adding the total TONs deposited and the staking rewards, subtracting any applicable fees, and then dividing by the total minted stTONs. This method ensures accurate valuation without the need for external oracles, as both the staked asset and rewards are in TONs.
## Who is behind bemo?
bemo was developed by a diverse and skilled team comprising professionals from traditional finance, blockchain experts, and software developers. United by the goal of creating investment products that add value for all users, whether they are new to blockchain or seasoned veterans.
The bemo smart contracts were crafted by the team responsible for launching the first retail project on TON - Fanzee, an innovative platform for sports fan engagement. This technical team boasts seven years of experience developing blockchain platforms and applications.
How to Buy stTON on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing stTON. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on theBybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing stTON.
Step 5: Purchase stTON
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of stTON you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy stTON.
Step 6: Store Your stTON
After purchasing, you can choose to store your stTON in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and stTON assets, be sure to use a strong password and enable two-factor authentication.
stTON Price:stTON is a derivative token offered by bemo, a pioneering liquid staking platform on The Open Network (TON) blockchain. The price fluctuates daily, You can go to the exchange: Bybit to check the price.
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