TON Swap, a very interesting DeFi platform
As I have investigated, Free TON is the continuation of the blockchain project initially by Telegram, which has been left in the hands of the community.
Now with a more established ecosystem, this project has TON swap, a DeFi platform that promises exchanges within the TON network, with very good rates for everyone's pocket.
In addition, Free TON has a protocol that allows between the TON network and Ethereum in a simple way under the name of TON Bridge, promoted by Broxus, a blockchain solutions laboratory and member of the Free DeFi Alliance.
The bridge essentially allows the exchange of the Metamask wallet to the Crystal wallet and vice versa. This bridge mitigates the risks of increasing congestion, transaction times and high fees, making TON Swap a very attractive alternative.
To give you an idea, TON Swap is a decentralized exchange or DEX, for its acronym in English, which allows its users to carry out DeFi operations to provide liquidity and production with tokens belonging to the Free TON network.
Its development comes almost a year after the launch of the Free TON project, which relaunched the abandoned Telegram blockchain called Telegram Open Network and without the collaboration of this messaging company.
With the TON Swap exchange, as expressed on its own website, it seeks to offer much more and cheaper exchanges between tokens, because, compared to Ethereum, the network fees are only 0.01 USD as of today.
If you have the opportunity to interact with a platform or DEX, you will have noticed that to operate from or the native cryptocurrency of the network, you are not using ETH, but an ERC20 token anchored 1: 1 with that of ETH known as WETH or "wrapped" .
Basically the same thing happens in TON. The native cryptocurrency of the network is called TON or TON However, to interact in TON Swap, or in any Dapps built in the network, you must operate with the TIP3 token anchored in TON 1: 1 known as WTON.
If you want to convert TON to WTON or vice versa, you must go to the WTON.io page. The exchange process is quite simple, as it does not involve putting the amount to be exchanged and validating the transaction from your Crystal wallet. The cost of the exchange is 1 TON.
At first I thought that because TON Swap is on a different network than Ethereum, on which the main DeFi platforms, this platform would not compete "directly" with UniSwap or any other. However, the integration of tools like Bridge makes it a very potential competitor for everyone, as long as the mass of active users increases.
Even if at first and once only once during setup, this may seem a bit, then its use becomes very simple and intuitive.
The operation of provides very simple and hassle-free cash and farming together thanks to an intuitive interface, which makes it very attractive for companies of all experience levels.
In terms of ease of use, TON Swap is, in short, an excellent exchange. Very fast exchanges, almost instant confirmations,low commissions.