DeDust Review: Top Growth Exchange on TON

October 17, 2024 - Around 9 mins mins to read

Fueled by the enthusiasm of developers and the community, the TON blockchain has grown into a diverse platform that includes dozens of projects. DeDust is one of them with great potential. Let’s learn more about the project in this DeDust Review article with Coincu.

DeDust Review: Top Growth Exchange on TON

Table Of Contents

What is DeDust Exchange?
Development History
Products
Features
Highlights
SCALE Token
Major Innovations of DeDust
Team
Conclusion
FAQs

What is DeDust Exchange?

DeDust.io is a decentralized exchange built on the TON blockchain, aimed at making token trading and liquidity provision smooth and easy for users. While most exchanges are based on the order book, DeDust is designed to serve as an Automated Market Maker (AMM), where algorithms will help in buying and selling cryptocurrencies.

The DEX has an intuitive interface so that users can comfortably interact with it, and multiple trading pairs make the process of transactions as smooth as possible. This way, DeDust seeks to ensure a secure, efficient trading environment in the TON system for much more significant achievements in using DeFi based on this blockchain.

What makes the DeDust system so special is that there is an abstraction layer in place to handle all these asset types. The DEX seamlessly integrates many asset types beyond that of a single asset.

The platform provides users with further flexibility in handling digital assets natively issued over the TON network and external blockchain assets. No other platform is comparable to DeDust.io for this functionality and accessibility of the DeFi on the TON blockchain.

Development History

DeDust.io is a DEX platform founded in 2022 by Nick Nekilov, who is the current CEO. The company is headquartered in the city of Zug, Switzerland. This is a private corporation dealing in finding innovative solutions to trade in crypto. Before DeDust, Nekilov worked on another project called Scaleton.

During its implementation, so many changes were made to Scaleton that it could have become an altogether different platform. Whereas DeDust might be thought of by some as the evolution of Scaleton, these two do have a number of differences. While Scaleton was able to allow trading pairs based only on the interaction of a contract, DeDust brings in more advanced functionality. The exchange currently provides 90 coins and more than 1000 trading combinations.

Products

Swap

The primary functionality of DeDust allows for the exchange of tokens in a very straightforward manner through its tab called Swap. It is possible to select the desired token to be traded, which makes token swapping rapid and simple.

Bridge

The DeDust platform is integrated with a bridge that the TON Foundation gave and enables users to transfer assets between networks. For the exchange, users have to connect two wallets: typically, Tonkeeper, the most popular wallet in the TON network, and MetaMask, a leading Ethereum wallet. To receive funds on the TON blockchain, users should have TON tokens on balance. The recommended way of doing so is to withdraw 1 TON from a centralized exchange for smooth operation.

Earn

DeDust allows users also to earn by providing liquidity through the pools. A user is able to choose the preferred token pair and supply liquidity in order to receive additional income. The top menu offers a list of whitelisted tokens while any other token can be found by typing its contract into the search field. Token contracts can be taken from blockchain explorers like TonScan or Tonviewer.

Portfolio

The portfolio feature gives the user an overview of the total balance of holdings, also including investments in liquidity pools, hence it is easy to observe from one spot their assets and earnings.

Features

DeDust uses an abstraction layer that can integrate multiple types of assets, allowing one to swap between native coins and tokens across various blockchain ecosystems.

The core part of the functionality of DeDust involves a set of smart contracts governing the assets in a vault system. The vault system streamlines and facilitates multi-hop swaps without custodial risks and makes this complex operation simple.

The feature has support for volatile and stable swap pools, enabling strategy application per asset volatility. This means one can quickly adjust a trading approach to the market situation.

It is a factory contract that centralizes the management of the contract. Therefore, it creates and manages pools and vaults. This will help in simplifying the setup process and ensures that the deployment of contracts is driven under one unified approach.

DeDust’s platform has a liquidity deposit contract to make sure all transactions are processed efficiently. The contract holds a liquidity deposit temporarily, ensuring optimum liquidity management in the whole platform, therefore guaranteeing smooth transactions.

Highlights

Seamless Decentralized Trading Experience

DeDust.io revolutionizes the open trading landscape by facilitating unparalleled efficiency and seamless user experiences. In such a way, traders would be enabled to swap a wide variety of tokens on the TON blockchain using more than 1000 accessible liquidity pools, making sure their trading conditions are robust and complex.

Intuitive User Interface

The striking aspect of DeDust.io is how user-friendly the interface is. As the platform is also available through a website and a Telegram Mini App, this makes life easier for users when it comes to participating in any DeFi activity. One can easily stake their SCALE tokens to earn passive income or provide liquidity with ease. Thus, it becomes both a use case for novice and experienced active investors.

Affordable Trading Solutions

Because of this intuitive design, DeDust.io naturally enjoys the key advantages of the TON blockchain: low transaction fees and speed of settlement. These further improve the trading and investment experience in TON generally, enabling users to maximize returns while minimizing costs.

SCALE Token

Scaleton (SCALE) is DeDust.io’s native token. The token is also used for transactions within the Scaleton ecosystem.

Key Metrics

Token Name: Scaleton
Ticker: SCALE
Blockchain: TON
Contract: EQBlqsm144Dq6SjbPI4jjZvA1hqTIP3CvHovbIfW_t-SCALE
Token Type: Utility Token
Total Supply: 16.71M SCALE
Circulating Supply: 2.71M SCALE

Token Allocation

SCALE has a limited supply of 21,000,000 tokens, with about 4,313,384.9 tokens already burned and 16,711,116 remaining in circulation. The tokens are allocated as follows:

Ecosystem Fund: 25% for grants and acquisitions.
Core Team: 20% for rewards and staking.
Development: 5.83% to fund Scaleton and DeDust.io products.
Marketing: 2.61% to attract new users.

Token Release Schedule

Ownership is revoked so no new tokens are issued. This usually leads to an increase in token price, due to higher demand and reduced supply, and there is no fixed distribution schedule for the parties.

Use cases

SCALE leverages the improvements made possible by DeDust. The mainnet of the SCALE staking mechanism was released on May 2, 2024. The staking is fueled by the DeDust.io fee protocol.

DeDust.io generates income in the form of transaction fees; these are reinvested into SCALE for the benefit of the beneficiaries of the fee structure, which returns 80% of all fees collected to the liquidity pool as a reward for LPs.

The rest of the fees, 20%, are converted into SCALE tokens and distributed among the stakeholders. For example, the trading fee for the pool is set at 0.0025, or 0.25%. From this, liquidity providers receive 0.002 or 0.20% based on the volume of transactions, while the remaining 0.0005 or 0.05% goes to staking rewards.

How to Stake SCALE

Step 1: Buy USDT or TON

Before diving into staking, one needs to have either USDT or TON in his digital wallet. These cryptocurrencies can be bought from the major centralized exchanges like Binance, OKX, or Bybit.

Step 2: Exchange TON for SCALE

Next up, if you already have USDT or TON, the process to swap these assets for SCALE should be done in the next step. You will be able to make this swap directly from DeDust.io by following the SWAP tab.

Choose the amount you want to exchange and click the “Confirm” button to initiate the transaction. Your swap will be verified, and your wallet will open to confirm the transaction on the blockchain and finalize the swap for SCALE.

Step 3: Stake SCALE Tokens

With SCALE tokens in your possession, you are now ready for staking. You will be allowed to choose the number of tokens you intend to stake and begin receiving your rewards by staking those tokens.

Major Innovations of DeDust

Powered by the TON blockchain, DeDust.io is the most convenient and streamlined way of trading. It is designed with the user in mind and assures user satisfaction by having some handy features in one place.

Among the benefits of DeDust.io is that it is highly liquid, with a high volume of trades giving users the potential to exchange their tokens directly without intermediaries.

The exchange runs on the advanced DeDust Protocol 2.0, hence assuring low transaction fees in a much-simplified user experience. In the future, DeDust.io is looking at expanding with several additional DeFi products.

Team

DeDust is led by a diverse team of four professionals with extensive experience in the digital space:

Nick Nekilov, the CEO and founder, brings over 12 years of expertise in commercial development across various prominent IT companies and startups.
John Fyodor, the lead developer and creator of the Ton3 library, has more than eight years of programming experience.
Daniil, the community manager, co-founded The Daily TON and previously served as the community manager at Tonstarter.
Vitaliy, a senior advisor with over a decade of experience in digital marketing within both agencies and product companies, is also a co-founder of The Daily TON.

Conclusion

As one of the leading exchanges on the TON blockchain, DeDust.io reflects the growing interest in the TON ecosystem. With features that ensure high liquidity and effectively avoid dumping, the DEX becomes an attractive option for traders. Hopefully our article has helped you gain more information about this exchange.

FAQs

How to buy SCALE?

To buy SCALE, you need TON or USDT and a TON-compatible wallet, then you can swap your TON or USDT for SCALE tokens on DeDust.io.

What are the trading fees on DeDust.io?

Trading fees on DeDust.io range from 0.4% to 1.0%, depending on the specific pool and type of asset involved.

Can I cancel my SCALE stake?

Yes. You can cancel your SCALE stake immediately with a 5% penalty or wait 72 hours to cancel your stake without incurring a service fee.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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