First of all, we want to convey a huge thank you to all TON Swap users who have entrusted us with their liquidity and helped us test many of the technical and economic aspects of TON Swap and its farming programs.
We have some interesting statistics for you all:
• TonSwap has clearly become the center of the FreeTON economy. According to participants in OTC markets, OTC TON transactions are widely being conducted according to the prices on TON Swap. In addition to that, TonSwap’s TON liquidity is now greater than the respective liquidity of all CEXs combined.
• The trading volume for all pairs with WTON has almost reached $40 million over the entire existence of the DEX.
• Total net sales of TON (all sales — all purchases) amounts to about $4.3 million worth of tokens. Of these tokens, about $1.5 million worth have been sold from farming, with most of the farmers engaged in long-term farming operations.
• Most of the accounts that have made significant sales are linked directly to initials or are linked to them via exchanges. These sales were what caused the dump in TON price, and not the sales that resulted from farming. Regarding this issue, an in-depth investigation has been conducted by Analytics & Support (A&S) and it will be released in the near future.
• The highest turnover has been made by 5 arbitrageurs, each of whom has made under 1 million TON.
Updates to TON Swap
It is hard to establish solid plans for distant horizons. But as things stand now, creating new pools every time a user wants to adjust farming speed is really inconvenient. So, the first update:
Infinity pools — infinity pools will allow for farming without set time limits. Farm speed, however, will be set for certain intervals of time, after which it can be adjusted without having to create new pools. We plan to change this parameter no more than once every 2 weeks. For the main pools given with WTON, the current speeds will be maintained for the next month. The number of reward tokens will be determined by the pools.
Vesting — this was requested by a number of companies on the Crystal Handshake program. With an increase in TVL and farming speed, the vesting mechanic allows you to manage excess supply in the market. Each pool will have set parameters dictating the percentage of farm tokens in vesting and vesting duration. We plan to set a baseline of 50/50 and a vesting duration of 6 months.
Boosts — with boosts, LP tokens that are not claimed will benefit from higher farm speeds compared to those that are claimed with a high frequency. This will motivate investors with long liquidity.
For the following main pairs:
• V2 USDT-WTON
Farming speeds will remain unchanged until the end of September.
For the following bridge tokens:
There will be no farming speed changes prior to DAO launch (expected mid-September). After that there will be a decrease in farm speed due to a sharp decrease in the number of BRIDGE tokens in the market. These tokens will move from the pools to relays.
We have made plans to launch a lot of tokens, but after we have had to cancel a couple of launches after scoring, we decided to construct a more systematic process of token addition. At the moment, the procedure for scoring projects for the program lasts 1 month and has a legal basis.
The current DAF project in the program will run until September 23rd and the decision on it depends on the launch of the DAF ecosystem.
List of expected projects:
• FRTN (gaming industry, tip3)
• EUPI (stable euro, tip3)
- BDCC (gaming industry, binance ecosystem)
- FRAX (in order to comply with specifics of the FRAX protocol we added support for weekly farming speed changes)
• Chatex (immediately after the initial distribution)
• Several tip3 projects from Ton Labs and the community, a group of 6 projects
• Several projects from the ETH ecosystem, a group of 8 projects
Once again, we would like to thank you for the support you have provided the project and congratulate you on the progress that we have made together. TON Swap has made crucial steps over its past year of development and currently has a TVL figure equivalent to $24 million. Farming has played a central role in the flourishing of the exchange, and long-term farming in particular. The new changes and expansions to the farming program will see those figures continue to rise and more projects getting involved and adding to the already diverse FreeTON economy.