TON eco-decentralized exchange STON.fi closes new funding round for undisclosed amount

STON.fi, a decentralized exchange (DEX) based on the TON blockchain, closed a new round of funding for an undisclosed amount, led by CoinFund, with participation from Delphi Ventures, Karatage, TON Ventures, Philipp Zentner, CEO of LI.FI, and 1inch co-founders Sergej Kunz and Anton Bukov, among others. STON.fi is said to be committed to providing efficient cross-chain trading without relying on wrapping and bridging. To ensure price impact and slippage are minimized, STON.fi uses a liquidity pool model that consists of funds made up of assets locked in smart contracts (automatically executed protocol code) by multiple users. The assets accumulated in these pools enable instant trading without relying on traditional buy-side and sell-side markets.