DeDust DeFi Protocol Functionality Review

Recently, the TON crypto network has been gaining popularity among blockchains, with a TVL of $617mln, which is more than 5000% higher than at the beginning of the year.

The top 3 largest projects in terms of TVL include decentralized exchanges DeDust and StoneFi, as well as liquid staking service Tonstakers.

What Is DeDust

DeDust platform is a decentralized exchange with automated market maker (AMM) functions, operating on DeDust 2.0protocol.

DeDust currently supports Toncoin (TON) itself and tokens created on its blockchain (called Jetton). Allegedly, in the future DeDust will also support other types of crypto assets outside of the TON network. A bridge has already been created with the Ethereum blockchain.

DeDust Functions

The main menu of DeDust consists of the following functionality:

• Swap designed for exchanging assets on the TON network, as well as between Ton itself and the USDT stablecoin (also issued on TON)
• Pools represents the main function of the DeDust platform, where users can provide liquidity to pools (about 1000) and earn % on it
• Stake section provides the ability to stake Scale tokens (the platform's own token) and earn rewards (about 30% annualized at the moment in Scale tokens)
• Bridge allows users to transfer assets from the TON blockchain to wrapped Ethereum blockchain assets.
• Portfolio shows a visualization of the portfolio with all assets and your position in the liquidity pool.

Let's break down each section of the DeDust platform in order. By example, we will show how to work with the platform and submit your assets to the Ton | USDT liquidity pool.

To start working on the DeDust platform you need to connect your crypto wallet on the TON blockchain. There are several popular wallets to choose from (Telegram Wallet, Tonkeeper and Bitget Wallet).

Let's use the most popular Tonkeeper as an example:

1. Click on the Wallets button at the top.
2. Then connect your crypto wallet
3. In the pop-up menu click on Tonkeeper

4. Open Tonkeeper wallet on your phone
5. Scan the QR code (scan icon in the upper right corner of Tonkeeper).
6. Confirm login to the DeDust app.

DeDust Functions: Swap

We have successfully connected to the DeFi platform DeDust. Let's start with the Swap function. Here we can quickly swap assets between each other on the TON blockchain.

This is necessary to provide an opportunity within the platform to swap the required asset to provide to the liquidity pool, as well as to purchase a new token on the TON blockchain.

1. Select from the list above the asset we want to exchange, e.g. USDT
2. Select from the list below the asset we want to exchange USDT for, e.g. TON.
3. Get quotes and click the Swap button.
4. Confirm the transaction taking into account the commission in your Tonkeeper crypto wallet.

In the settings you can to change Slippage (for more experienced users).

We can also recommend you to exchange assets, for example Ton for Ton | USDT pool on SimpleSwap platform where you can always find the desired asset at the most favorable rates.

DeDust Functions: Pools

The next functionality DeDust offers is the Pools tab. This is the main element of the platform that offers to earn money by providing assets to liquidity pools.

Inside the Pools tab we can see the number of liquidity pools and the possibility to select them, as well as TVL of each pool, volume of each pool for 24 hours, fees paid for 24 hours of each pool, APR (annual percentage rate) of each liquidity pool.

Based on this information, you can choose a liquidity pool that suits you. Basically we look at TVL, which tells us the volume of the pool and APR %, which allows us to earn money.

Let's look at creating a pool using Ton | USDT as an example, with an annualized rate of 41.9% at the moment and a TVL of $234.11 mln.

We can see what additional tokens will be charged to us for providing liquidity with TON.

1. Click the Deposit button and form our liquidity pool Ton | USDT
2. Add TON asset and USDT asset in equal proportion 50/50
3. Confirm the transaction on your TonKeeper wallet including the commission (Slide to Confirm).
4. Make sure that you have a small amount of Ton and USDT left on your wallet to pay the commissions for liquidity pool creation and smart contract calling.
5. Wait some time for the transaction processing and see LP Tokens on the wallet (in our case 132).

So, the Ton | USDT token liquidity pool is created with an APR of about 42% at the moment. Rewards from the poolcome every day in TON tokens, which can be both accumulated and sold in USDT within the platform or via SimpleSwap.

You can Claim rewards using the Claim button in your pool on the Pools page or from the Portfolio menu. And also confirm the transaction in your Tonkeeper crypto wallet.

At any time you can withdraw from the liquidity pool by clicking the Withdraw button on your TON | USDT pool page.

DeDust Functions: Scale

The next feature on the Stake platform gives users the ability to stake the Scale token of the DeDust platorm with an annualized APR of around 30% at the moment.

In order to tokenize Scale you need to:

1. Swap any asset for a Scale token (in the Swap tab)
2. Select the number of tokens you want to tokenize (e.g. 1000)
3. Click the Stake button and confirm the transaction as described above in your Tonkeeper wallet.
4. Just like in liquidity pools you will get rewards for staking Scale daily.

DeDust Functions: Bridge

And the final functional stack of the DeDust platform is the Bridge section, where you can exchange assets in different blockchains (Ethereum is currently available).

How to do so:

1. Connect Ethereum Wallet to the DeDust platform via the Connect ETH Wallet button. You can use the popular MetaMask wallet.
2. Underwind the connection inside the Metamask wallet
3. Exchange assets from one network to another via Bridge.

Users can get TON, USDT, and any other cryptocurrency for fiat or crypto on SimpleSwap.

Summary

The TON ecosystem has seen remarkable growth, driven by innovative platforms like DeDust, a decentralized exchange that offers a comprehensive set of DeFi services.

DeDust facilitates asset swapping, creating liquidity pools, staking, and cross-chain bridging, all within the TON blockchain. By providing easy-to-use tools and competitive returns, DeDust empowers users to maximize their crypto assets efficiently.

DeDust is constantly increasing the loyalty of its users through Airdrop campaigns. For example, not long ago they launched a campaign called Cryptopedia with the popular OKX Wallet, where they raffle off $50,000 worth of $SCALE.

As the platform continues to evolve, it remains a key player in the TON ecosystem's expansion, offering robust opportunities for both developers and investors.