CandleFocus

Tonstakers Lead TON Protocols with $186M as STON.fi Down 39.2%

The total value locked (TVL) in The Open Network (TON) ecosystem has reached $370 million, indicating increasing adoption of decentralized finance (DeFi) on the TON blockchain. The top protocols on TON include Tonstakers, a liquid staking protocol, and STON.fi, a decentralized exchange (DEX). However, both protocols have experienced a decline in TVL in the past month. DeDust, another DEX, ranks third but has faced significant challenges in retaining liquidity. Cygnus Finance, a real-world asset platform, is the only protocol in the top seven to post positive growth. The lending platform EVAA Protocol and the liquid staking platform Stakee have both faced declines and growth, respectively. Overall, the TVL of the TON blockchain indicates healthy adoption, with niche platforms offering unique services showing potential for success.

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