What is DeDust?

DeDust.io is a decentralized exchange (DEX) on the TON blockchain that enables users to exchange tokens and provide liquidity. DeDust is an automated market maker (AMM) that utilizes algorithms to facilitate the buying and selling of crypto assets. With this feature, users trade directly through the AMM instead of selling directly with other individuals as with a traditional order book.

The platform’s user-friendly interface and support for trading pairings make cryptocurrency transactions seamless. DeDust.io aims to provide a secure and expedient trading experience within the TON ecosystem, thereby contributing to the expansion of decentralized finance on this blockchain.

DeDust enhances the user experience and functionality of DeFi on the TON Blockchain by incorporating several unique features. DeDust employs an abstraction layer that facilitates the seamless integration and transitioning of numerous asset types that exceed the conventional single asset type. This provides users unparalleled flexibility in administering digital assets, encompassing native currencies and tokens from other networks.

Background of DeDust

DeDust was established in 2022 by Nick Nekilov, the founder and chief executive officer of DeDust. The DEX platform is a private corporation headquartered in Zug, Switzerland. DeDust’s leadership comprises four team members with a variety of digital experiences. Nick Nekilov, the CEO and founder, has over 12 years of experience in commercial development at prominent IT companies and ventures. John Fyodor is the author of the Ton3 library and the primary developer with over eight years of programming experience. Daniil is the community manager, co-founder of The Daily TON, and former CM at Tonstarter. Vitaliy, a senior advisor with over a decade of experience in digital marketing in both the agency and product sectors, is a co-founder of The Daily TON. At present, the exchange offers 1063 trading combinations and 87 coins.

Features of DeDust

DeDust offers a state-of-the-art decentralized exchange (DEX) protocol based on the TON blockchain, designed for jettons. This protocol allows users to trade cryptocurrencies in a decentralized manner. The features of DeDust include:

• Reduced gas fee consumption
• Consistent swaps
• Trades that involve multiple hops
• Extreme scalability
• Distribution protocol earnings through farming pools

Benefits of DeDust

Efficient Decentralized Trading Experience

DeDust.io users enjoy an efficient and seamless decentralized trading experience, as they have access to more than 600 liquidity pools for various token exchanges on the TON blockchain.

User-friendly Interface

The platform’s user-friendly interface is accessible as a website and a Telegram Mini App, simplifying participation in DeFi activities, such as staking SCALE tokens to generate passive income and provide liquidity.

Minimal Transaction Fee

Furthermore, DeDust.io offers users fast settlement times and minimal transaction fees, which are native to the TON blockchain. This enhances their overall trading and investment experience within the TON ecosystem.

How Does DeDust Exchange Work?

Bridge

To use the bridge option of DeDust, users must add money to their TON wallet, which is also one of the first things you can do to get DeDust to work and allow transfers. Users will need to connect two wallets to the exchange in their browser to do the exchange. The wallets could be Tonkeeper, the most common solution on the TON network, or MetaMask, which is popular on the ETH network. Users will also need TON on their balance to add money to the TON blockchain, which can be accomplished by withdrawing 1 TON from a centralized exchange.

Pool

Tokens that are allowed on DeDust are usually shown on the main page. Users can find all the other tokens and pairs in this tab if they type the token contract into the search bar. They can see the contract in a blockchain browser like TonScan or Tonviewer and find out more about the liquidity pool by clicking on the chosen pair. A simple screen will be displayed by clicking the “My Positions” tab, and if users click on a pool, a window with more details about that pool will be displayed.

The various sections in the window include liquidity, the amount of money in the pool, volume, the number of trades made in 24 hours by the users, and fees, which are the money that liquidity sources get paid daily. This money is split among the providers based on how much they put into the pool and the APR, which stands for “annual percentage rate.”

Swap

The primary function of the decentralized exchange is the exchange of tokens. This option is accessible through the Swap tab. To access the Swap tab, users must click on the arrow next to the ticket they want to trade for another. In the bottom window, users can choose the token they want from the market.

The tokens in the drop-down menu are on the “white list.” If the contract is typed in the search window, users can find all the other tokens still needed to complete the listing process.

When users click on the button, the Expert Mode will appear. This mode lets users change the slippage settings.

Trading through a token contract is possible if the pool has enough money.

Portfolio

The portfolio tab shows the balance sheet’s total amount and the cash pool’s full amount.

Major Innovations of DeDust

Asset abstraction

DeDust transcends the conventional single asset type by employing an abstraction layer that enables the seamless integration and transfer of various asset types, such as native coins and tokens from other chains. In contrast to numerous well-known protocols that are designed to operate exclusively with a specific asset type (e.g., only with ERC-20 and not with the native coin), developers frequently use “wrapped native coins” (e.g., WETH for ETH, WTON/pTON for TON). By nature, this technique consumes a greater quantity of gas.

DeDust introduced the asset concept, a departure from the standard—an asset abstracting specific asset categories. The transfer procedure is simplified because the asset in question is irrelevant. Additionally, we can effortlessly integrate new asset categories (such as assets from various chains or additional currencies) to ensure our perpetual leadership in the constantly evolving DeFi environment.

Scale Token for DeDust

DeDust has recently introduced its token, SCALE, which incentivizes users to contribute liquidity to the exchange’s token pools. This application converts exchange fees from DeDust to SCALE tokens for staking rewards. This unique model promotes active user engagement with the site and provides SCALE tokens with additional utility through revenue sharing. SCALE tokens have been distributed to stakeholders in an amount exceeding 288,000.

DeDust Staking Program

The DeFi ecosystem has experienced a significant advancement with the introduction of Dedust’s staking program. This program allows users to generate passive income while enhancing the stability and liquidity of the Dedust ecosystem. This innovative approach benefits stakeholders and improves the overall utility of the SCALE token. It also encourages increased engagement and participation within the Dedust community.

The staking program has gained substantial momentum since its inception on May 2nd, 2024, with SCALE tokens valued at over 9 million being wagered on Decustar. Participants in the program have been granted substantial annual percentage rates (APRs). DeDust has accumulated over 7 million in Total Value Locked (TVL) in its decentralized exchange. In addition, DeDust has implemented SCALE, its proprietary currency, to incentivize users to contribute liquidity to the exchange’s token pools.

Connecting to DeDust

In the TON ecosystem, TON Connect is a communication protocol that facilitates the exchange of information between wallets and applications. Connecting to any non-custodial wallet using TON Connect is easy. The process of connecting your wallet to DeDust.io is contingent upon the device that the user is using.

Users of the mobile version must implement these straightforward procedures.

They consist of:

• Locate DeDust.io in the desired browser and select ‘Connect wallet.’
• Select the wallet and verify the connection with the wallet’s mobile application.

These stages are crucial for the desktop version of DeDust.io. They consist of;

• Navigate to DeDust.io in the browser of your choice and select the “Connect wallet” option.
• Choose a wallet to utilize or scan the QR code with the wallet’s mobile application and verify the connection.

Connecting to MyTonWallet

• Locate the Browser tab in the Explore section of the MyTonWallet interface.
• Enter “DeDust.io” into the search bar and select it.
• Use the ‘Connect’ icon to establish a connection with MyTonWallet.

The DeDust.io page will be automatically opened in the MyTonWallet application upon connection.

Connecting to Tonkeeper

• Locate the Browser tab at the bottom of the Tonkeeper interface.
• Locate the search window.
• Enter “DeDust.io” into the search bar and select it.

If users have previously connected with DeDust.io via Tonkeeper and the wallet is authorized, they must verify that the wallet is connected, everything is in order, and they can view their assets in the portfolio section. Tonkeeper will prompt users to connect their wallet if it is not authorized.

What is the DeDust (SCALE) Token?

Scaleton (SCALE) is a native token of DeDust.io and other upcoming products in the Scaleton ecosystem. The Scaleton (SCALE) token was established in April 2022 with an initial supply of 21,000,000 SCALE. Some tokens have already been consumed; the maximum supply is 16,711,116.38.

• Ecosystem Fund: 25% of the 21,000,000 total supply (5,250,000) tokens will be employed for grants and acquisitions.
• Core Team: 20% (4,200,000) tokens will be utilized for staking and as incentives for essential team members.
• Development: 5,83% (1,225,000) tokens will be utilized to finance the development of DeDust.io and other Scaleton products.
• Marketing: 2,61% (548,000) tokens will be employed to broaden the user base.
• The project will burn 20.54% (4,313,384) of tokens, while 26.02% (5,463,615) will be on the market.

SCALE Utility

SCALE staking was implemented on May 2, 2024, and is financed by DeDust.io protocol fees. The platform collects fees, rebuys SCALE, and distributes it to stakeholders. 80% of this fee is returned to the pool as compensation for liquidity providers. In comparison, the remaining 20% is converted into SCALE and distributed to stakeholders. For instance, the pool’s trading fee is 0.0025, equivalent to 0.25%. Next, LP receives 0.002 (0.20%) of the transaction volume, while the remaining 0.0005 (0.05%) is allocated to staking rewards.

Conclusion

DeDust distinguishes itself in the competitive DEX industry and provides a seamless and practical trading experience by utilizing the TON blockchain in a sophisticated manner. Its primary attributes include its intuitive design, robust security measures, and state-of-the-art protocol. DeDust is a critical participant in the future of decentralized finance as it expands.