XCG Crypto School lesson #2 ~ Staking with
STON.Fi
( Leading dex on )
Staking Basics :
Staking is a process in which a particular token is deposited into a smart contract and it does the process; the more you deposit the better rewards or benefits you receive!

Staking and Farming might seem similar but there are key differences.
In farming, LP tokens are staked and aim at maximizing the yield!

For STONfiers, staking $STON provides a wide range of benefits

Governance Participation :
$STON stakers gain the power to the extent of decision-making in the protocol!

Rewards :
Along with power, stakers are provided with staking rewards.

Access to STON.Fi DAO :
Stakers are provided with licence to participate in the decision-making process inside the STON DAO

Let's learn about two important tokens other than $STON in the STON ecosystem.

$ARKENSTON
It's a non-fungible and non-transferable token, is received in equal amounts to the amount of $STON staked, and can be burnt at the end of the staking period to get back $STON.
It's purpose is to represent the individual's voting power in the STON DAO

$GEMSTON
It's a fungible token and receives in the same way stakers get $ARKENSTON.
But it can be traded, transferred, or swapped.
It provides more flexibility!
STON.Fi official Links
Discord: https://discord.gg/bdmaGV6qUw
Twitter: https://twitter.com/ston_fi
Guides: https://guide.ston.fi/en/
Blog: https://blog.ston.fi

Telegram Channel: https://t.me/stonfidex
Telegram Chat: https://t.me/stonfichat
Reddit: https://reddit.com/r/STONFi/
Linkedin: https://linkedin.com/company/ston-fi/
Github: https://github.com/ston-fi

NFT Collection 1: https://bit.ly/3Klld4O
NFT Collection 2: https://bit.ly/3m4PxY2

Whitepaper: https://docs.ston.fi/docs/user-section/whitepaper

#Ton #CryptoNewsCommunity #Notcoinnews #StakingRevolution

Vitalik Buterin is a Russian-Canadian computer programmer and writer who is best known as the co-founder of the Ethereum blockchain platform. He was born on January 31, 1994 in Kolomna, Russia and grew up in Canada. He became interested in blockchain technology while still a teenager, and in 2013, he proposed the creation of a new blockchain platform that would allow for the development of decentralized applications or #Dapps

Buterin went on to co-found Ethereum in 2014, and he served as its chief scientist and lead developer until 2019. Under his leadership, Ethereum became one of the most popular and widely-used blockchain platforms in the world, and it has enabled the creation of a wide range of decentralized applications, including smart contracts, decentralized finance (DeFi) platforms, and non-fungible tokens (#NFTs ).

In addition to his work with Ethereum, Buterin is a prolific writer and commentator on blockchain and cryptocurrency-related topics. He has written for a variety of publications, including Bitcoin Magazine, and he has spoken at numerous conferences and events around the world. He is widely regarded as one of the most influential figures in the blockchain and cryptocurrency industry.

Overall, Ethereum has had a significant impact on the blockchain and cryptocurrency industry, and it has enabled the creation of a wide range of innovative decentralized applications and business models. Vitalik Buterin's contributions to the development of Ethereum have been instrumental in driving this innovation forward.

STON.Fi continues to lead the Ton Ecosystem DEX space with its innovations and continued development efforts toward simplified DEX operations over the TON blockchain.

At its latest developments, $NOT is listed in STON.fi Dex making trades over $NOT most convenient for the users which was around 750k within weeks of its beta launch, and currently a user base of 30M.
$NOT is one of the most popular Telegram based Web3 Gaming token.
Refer the below article for further details.

https://ston.fi/buy-sell-trade-notcoin

Moving towards the next innovation by STON.fi
is to simplify cross-chain swaps by removing bridging and wrapping

Let me provide a brief into the technical aspects over this innovation that will address the critical challenges of the DeFi ecosystem.

To eliminate the need for intermediaries in cross-chain transactions, STON.fi uses a process where a buyer requests pricing and terms from a seller
combined with hashed timelock contracts, which are smart contracts that lock a transaction until specific conditions are met.

Traders express their intention to swap one asset for another by sending an RFQ to professional market makers.The PMMs respond with signed quotes that detail the swap rate and other conditions. The protocol then selects the best quote based on predefined criteria and presents it to the trader.

For more details you can head over to the
@Cointelegraph article:
https://cointelegraph.com/news/ton-based-dex-aims-to-simplify-cross-chain-swaps-by-removing-bridging-and-wrapping

✅STON.fi official Links

Discord: https://discord.gg/bdmaGV6qUw
Twitter: https://twitter.com/ston_fi
Guides: https://guide.ston.fi/en/
Blog: https://blog.ston.fi

Telegram Channel: https://t.me/stonfidex
Telegram Chat: https://t.me/stonfichat
Reddit: https://reddit.com/r/STONFi/
Linkedin: https://linkedin.com/company/ston-fi/
Github: https://github.com/ston-fi

NFT Collection 1: https://bit.ly/3Klld4O
NFT Collection 2: https://bit.ly/3m4PxY2

Whitepaper: https://docs.ston.fi/docs/user-section/whitepaper
#Ton #Dex #CrossChainFuture

Xenon’s Crypto Gang Presents
📌XCG Crypto School: “There is some crypto understanding for everyone”
Hey there! Today, XCG community will learn how to provide/withdraw liquidity on STON.fi DEX and generate a reliable source of income with minimized involved risks.
🤟Let’s get to know STON.fi first
STON.fi is a leading AMM DEX for the Ton blockchain providing virtually zero fees!
Now let us begin!
Head over to STON.fi and then launch the application.
then connect your ton wallet ( If you do not own a ton wallet yet, get Ton Keeper from PlayStore/AppStore)
After connecting your wallet you will see 3 menus on the top
1. Swap
2. Pools
3. Stake

👉Head over to Pools and a list of pools basically pairs will be visible, Select your required pool (  token/coin  which you hold or you can also swap to your desired tokens we will discuss this in our next posts)
👉Now pay attention to TVL, APR and finally click on “Add Liquidity”

Next, you need to specify the number of the first token, and the other will be automatically filled.
👉Once again check APR and blockchain fee size and press “confirm liquidity provision”

After that confirm the transaction in your wallet
Done! you are now earning from each trade on the pool.
LP tokens will also be received confirming your liquidity provision.
Try it Yourself
✔️Withdrawal is also simple!
👉Head over to Pools and select My Pools
Choose the pool, press withdraw, specify the % to be withdrawn, and finally press withdraw liquidity.
👍Confirm the transaction in your wallet and done!
Links are provided below, Always
#DYOR🟢

🔸Discord: https://discord.gg/bdmaGV6qUw
🔹Twitter: https://twitter.com/ston_fi
🔹Guides: https://guide.ston.fi/en/
🔹Blog: https://blog.ston.fi/
🔹Telegram Channel: https://t.me/stonfidex
🔹Telegram Chat: https://t.me/stonfichat
🔹Reddit: https://www.reddit.com/r/STONFi/
🔹Linkedin: https://www.linkedin.com/company/ston-fi/
🔹Github: https://github.com/ston-fi
🔹 NFT Collection 1: https://bit.ly/3Klld4O
🔹 NFT Collection 2:  https://bit.ly/3m4PxY2
🔹 Whitepaper: https://docs.ston.fi/docs/user-section/whitepaper
#EarnFreeCrypto2024 #ton #btc70k

#POS, or Proof of Stake, is a consensus algorithm used in #blockchain networks to achieve agreement on the state of the blockchain. It is an alternative to the more widely known Proof of Work (PoW) consensus algorithm, which #bitcoin uses.

In a Proof of Stake system, validators (participants responsible for validating and adding new blocks to the blockchain) are chosen to create new blocks and validate transactions based on the number of cryptocurrency tokens they "stake" or lock up as collateral. The more tokens a validator stakes, the higher their chance of being chosen to create a new block.

Let me summarise the key features of Proof of Stake:

Security through Staking: Validators have a financial stake in the network's stability, as they have something to lose if they act maliciously or validate incorrect transactions. This contrasts with Proof of Work, where miners invest computational resources (electricity and hardware) to compete for block rewards.

Energy Efficiency: POS is often considered more energy-efficient than PoW, as it doesn't require the massive computational power used in PoW mining.

Selection Process: Validators are chosen to create new blocks and validate transactions based on various factors, such as the number of tokens they hold, the length of time they have been participating in the network, or a combination of both.

Block Validation: Validators take turns proposing and validating blocks. In some POS systems, validators may be randomly selected, while in others, there might be a deterministic process based on certain parameters.

Fork Resolution: POS systems typically have mechanisms to address potential forks (divergent versions of the blockchain). Validators are incentivized to follow the main, longest chain, as it represents the consensus of the network.

Penalties: Validators can be penalized for misbehavior, such as attempting to validate fraudulent transactions or going offline for extended periods. Penalties can range from a reduction in staked tokens to temporary suspension from participating.

Popular blockchain projects that use or plan to use Proof of Stake include Ethereum 2.0 (which is transitioning from Proof of Work to Proof of Stake that we will learn about in detail in the future), Cardano, Tezos, Polkadot, and more.

It's important to note that there are different variations of Proof of Stake, each with its mechanisms and rules for achieving consensus. As the blockchain and cryptocurrency space continues to evolve, new improvements and variations on consensus algorithms are being developed.
Thank you
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