Tonstakers is an interesting feature of The Open Network Blockchain (TON) which makes this blockchain one of the most sought-after blockchains in the industry. 

Tonstakers mirrors the concept of Liquid Staking and serves as an additional way for Ton Blockchain users to earn Toncoin. 

The Ton Blockchain is regarded as one of the fastest-growing blockchains due to its exploitation of the Telegram ecosystem which has a whopping user base of over 950 million global users. The majority of the crypto projects existing as Telegram mini apps are often powered by the Ton Blockchain making it a very busy blockchain and one of the biggest onboarders of new users to Web 3. 

Before we discuss what Tonstakers are all about and its key features, let us briefly define liquid staking the key concept espoused by Tonstakers. 

What is Liquid Staking? 

Liquid Staking is a process that allows cryptocurrency holders to stake their assets and earn rewards while still maintaining liquidity. The staked token from this process can be used in various decentralized apps allowing users to maximize the utility of their holdings. 

Liquid staking is a very important part of the crypto ecosystem because it enhances liquidity, allowing stakers to participate in other financial activities without sacrificing staking rewards.

Tonstakers is a first-of-its-kind liquid staking protocol on the TON blockchain. Tonstakers enhance the liquidity and utility of staked assets and play a key role in the overall development and growth of the Ton Blockchain. 

What is Tonstakers? 

As earlier stated Tonstakers is a liquid staking protocol built on the TON blockchain. The Tonstakers platform issues tsTON for each staked TON token which can be used or swapped within the TON network. 

These tsTON tokens earned represent the staked assets and can be used across various decentralized finance (DeFi) platforms. This process enables users to earn staking rewards while maintaining the liquidity of their assets.

Users who are interested in Ton staking can start staking with a minimum of 1 TON and the Tonstakers platform displays an Annual Percentage Yield (APY) to indicate potential earnings over a year. 

Tonstakers unique offer to its users is the ability to stake tokens to earn staking rewards and simultaneously participate in other financial activities. 

Traditional staking does not have this feature as it often entails users locking up their tokens for a specific period, stopping them from participating in other activities. 

Tonstakers solves this problem by providing users with a tokenized version of stake assets allowing them to participate in other financial activities. 

Key Features of the Tonstakers Platform 

Tonstakers has some unique features that add to its offer to its users. We are going to outline some of these features below. 

Interoperability: Earned tsTON tokens can be used across various DeFi platforms enhancing the utility of stake assets. 

Liquidity: Tonstakers provide liquidity to staked assets through the tsTON token enabling users to take part in various defi activities while earning stake rewards at the same time. 

Non-Custodial: The Tonstaker’s platform uses no intermediaries meaning that users maintain full control over their assets. 

Security: The Tonstakers protocol is audited by Certik, confirming its high-security standard and its priority to safeguard user assets. 

How to Stake on Tonstakers 

Staking on Tonstakers is pretty direct and doesn’t take much hassle. It is a four-stepped process which we are going to discuss below. 

1) Deposit TON

The native crypto asset of the TON ecosystem is the Toncoin which is also the crypto asset of choice when staking on Tonstakers. 

The first step is to buy the TON token from your exchange of choice and transfer it to a TON wallet. Tonkeeper is the most trusted wallet for the Ton ecosystem.

When this is done, visit the Tonstakers platform and connect your TON wallet, then deposit your TON tokens.

2) Receive tsTON

Once you successfully deposit TON you will receive tsTON tokens in return. The tsTON is a tokenized version of your staked assets representing your share in the staking pool. 

The tsTON tokens can be used across various DeFi platforms ushering in maximum liquidity of your staked assets. 

3) Earn Rewards

Your staked TON tokens earn you rewards. These rewards are calculated according to the amount of tsTON you hold. 

Your rewards can be tracked on the dashboard of the platform. 

4) Withdraw

At your chosen time you can withdraw your staked assets and exchange your tsTON token for TON tokens plus the accumulated yield. 

This can be simply done through the platform’s interface. When you initiate the withdrawal process you will receive your original TON tokens plus any rewards earned during the staking period. 

Conclusion 

Tonstakers adds new color to an already blossoming TON blockchain. It is one of the brightest examples of liquid staking. Tonstakers by providing a secure, transparent, and flexible staking solution enhance the utility and profitability of staked assets.

Image credit: Tonstakers website