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bemo staked TON

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is bemo staked TON?

Bemo staked TON (stTON) is a derivative token offered by bemo, a pioneering liquid staking platform on The Open Network (TON) blockchain. It represents staked TON on bemo, maintaining liquidity and allowing holders to participate in DeFi applications while accruing staking rewards. stTON tokens can be freely utilized within the decentralized finance (DeFi) ecosystem, providing flexibility and additional opportunities for users to maximize their investments.

How is bemo staked TON used?

The crypto bemo staked TON (stTON) is a liquid staking token that represents staked TON tokens on the bemo platform. Here's how it is used:

  • Staking and Liquidity: Users stake their native TON tokens on bemo and receive stTON tokens in return. These stTON tokens can be freely used in DeFi applications, allowing users to maintain liquidity while still earning staking rewards.
  • DeFi Participation: stTON tokens can be used to participate in liquidity provision on decentralized exchanges or lending applications, enhancing the yield on the staked TON tokens.
  • Unstaking: Users can unstake their stTON tokens at any time, which initiates a cooldown period of 36 to 72 hours. After this period, the stTON tokens are converted back to TON tokens based on the prevailing exchange rate.
  • Value Appreciation: The value of stTON tokens appreciates over time as the staked TON tokens earn staking rewards. The price of stTON relative to TON is determined by a smart contract after each validation round, ensuring accurate valuation without the need for external oracles.

Overall, stTON tokens offer a flexible and liquid way to stake TON tokens while still benefiting from DeFi opportunities and staking rewards.

How do I store bemo staked TON?

To store bemo staked TON (stTON) tokens, follow these steps:

  1. Complete the Transaction: After purchasing or staking TON tokens, ensure the transaction is completed.
  2. Automatic Storage: The stTON tokens will be automatically stored in your blockchain network wallet address.

How to buy bemo staked TON?

To buy bemo staked TON (stTON) tokens, follow these steps:

  1. Locate the STTON Trading Pair: Find the STTON trading pair on a decentralized exchange (DEX) platform. These pairs are typically listed as STTON/ETH, STTON/USDT, etc.

  2. Ensure Wallet Funds: Make sure your wallet has enough funds to complete the purchase.

  3. Execute the Trade: Use the DEX platform to execute the trade and acquire the desired amount of STTON tokens.

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History of bemo staked TON

The history of bemo Staked TON (stTON) is closely tied to the development of the bemo platform, a pioneering liquid staking solution on The Open Network (TON) blockchain. The bemo platform was designed to provide a non-custodial staking solution for individual and institutional TON token holders, allowing users full control over their tokens.

In May 2023, bemo launched the first liquid staking protocol on the TON blockchain in partnership with DWF Labs, a significant digital assets investment company. This launch marked a significant milestone in the development of the TON ecosystem and highlighted the potential of liquid staking services in DeFi.

The bemo platform addresses traditional staking barriers by enabling any amount of TON tokens to be staked, thereby democratizing access to the TON PoS validation process. This democratization is achieved by eliminating the need for extensive blockchain knowledge, high-performance hardware, and large minimum stakes. Instead, users can engage in the network's validation process without these traditional barriers, making staking more accessible to a broader audience.

The stTON token, which represents staked TON on the bemo platform, maintains liquidity and allows holders to participate in DeFi applications while accruing staking rewards. This liquidity is a key feature, as it allows users to transfer, trade, or engage in DeFi activities without the need to unstake or endure cool-down periods.

Overall, the history of bemo Staked TON is one of innovation and democratization in the staking process, making it more accessible and rewarding for TON token holders.

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How bemo staked TON works

Bemo staked TON (stTON) is a liquid staking token that allows users to maintain liquidity while earning staking rewards on the TON blockchain. Here's how it works:

Staking and Minting

When users stake their TON tokens on the bemo platform, they receive stTON tokens in return. The number of stTON tokens allocated is determined by the amount of TON staked and the current stTON/TON exchange rate. This process is overseen by the bemo protocol, which consists of a set of smart contracts on the TON blockchain.

Liquidity and DeFi Participation

One of the key benefits of stTON is that it allows users to maintain liquidity. Unlike traditional staking methods, where tokens are locked up for a period of time, stTON tokens can be transferred, traded, or used in DeFi applications at any time. This means users can participate in decentralized exchanges, lending applications, and other DeFi ecosystems while still earning staking rewards.

Staking Rewards and Price Appreciation

As users stake their TON tokens, they earn staking rewards, which are added to the TON pool. The value of each stTON token increases correspondingly, making it a value-accruing token. The price of stTON relative to TON is determined by the 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.

Unstaking and Cooldown Period

If users want to unstake their stTON tokens, they can do so at any time. However, this process involves a cooldown period of 36 to 72 hours. After this period, the stTON tokens are converted back to TON based on the prevailing exchange rate, allowing users to claim their TON tokens.

Security and Fundamentals

The bemo protocol ensures that stTON is fully backed by the bemo stake pool, eliminating the possibility of a fundamental depeg within the app. The smart contract defines the fundamental price, representing the intrinsic value of stTON. Any market price depeg creates an arbitrage opportunity as the unstaking option is always available on the bemo application.

Overall, stTON offers a unique solution for TON token holders, allowing them to maintain liquidity, participate in DeFi, and earn staking rewards while ensuring the security and stability of their assets.

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bemo staked TON's strengths

The token bemo staked TON (stTON) has several strengths that make it an attractive option for investors:

Liquidity

stTON tokens offer liquidity, allowing users to transfer, trade, or participate in DeFi applications without the need to unstake or endure cool-down periods. This flexibility is particularly valuable for users who want to maintain control over their tokens while still earning staking rewards.

DeFi Benefits

stTON tokens can be used to enhance yields through liquidity provision on decentralized exchanges or lending applications. This additional earning potential makes stTON tokens more versatile and rewarding for holders.

Low Entry Barrier

bemo's staking solution has a low entry barrier, allowing users to start staking with just 1 TON, unlike traditional staking which often requires a minimum stake of 10,000 TONs. This democratization of staking makes it accessible to a broader range of users.

Security

The bemo platform has undergone a security audit, ensuring that the stTON token is backed by a secure and reliable staking pool. This security is further reinforced by the fact that stTON is fully backed by the bemo stake pool, eliminating the possibility of a fundamental depeg within the app.

Flexibility and Control

stTON holders can unstake their tokens at any time, following a cooldown period of 36 to 72 hours, and receive their TONs along with accumulated rewards. This flexibility and control over tokens are significant advantages for users who value the ability to adapt to changing market conditions.

Ease of Use

bemo's platform is designed to be user-friendly, making it easy for users to stake their TON tokens through a simple and intuitive process. This ease of use is particularly beneficial for users who are new to staking or lack extensive blockchain knowledge.

bemo staked TON's risks

The financial risks associated with bemo staked TON (stTON) tokens include the possibility of a market price depeg from the fundamental price. This depeg can occur due to supply and demand dynamics on exchanges where stTON is traded, creating an arbitrage opportunity as users can always unstake their tokens at the fundamental price within the bemo application. Additionally, there is a risk of smart contract vulnerability, which bemo mitigates through independent code audits and audits by the blockchain's core development team.

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bemo staked TON's ecosystem

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bemo staked TON’s team

  • The team behind bemo staked TON (stTON) includes traditional finance professionals, blockchain experts, and software developers, who share a common goal of building investment products that add value to every user, whether new or native to blockchain.

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