Telegram Open Network (IOU)

bemo staked TON

<p>According to data from <a href="https://defillama.com/chain/TON?currency&#61;USD" rel="noopener noreferrer nofollow">DeFi Llama</a>, the total market value of all locked protocols on the TON ecosystem has exceeded the $200 million mark. Substantial increases in monthly active wallets and TON market cap—528% and 160%, respectively—correlate with the tremendous growth in the DeFi space. TON blockchain is ready to step into the big leagues and the bemo liquid staking app is its frontrunner.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/bdebdbbf79974456a0918ec69f30d516.png" /></p><p>bemo liquid staking app is one of the trailblazers, making staking on the TON ecosystem more accessible and rewarding.</p><h3 id="how-staking-on-ton-works">How Staking on TON Works</h3><p>When you stake TON on bemo smart contracts, you receive the corresponding amount of stTON—a liquid representation of users’ stake in the total TON pool within the protocol. According to the team, stTON&#39;s price appreciates due to staking rewards while the quantity of tokens stays unchanged.</p><h3 id="how">How?</h3><p>As TON tokens are staked and rewards are generated from the validation process, the price of stTON grows. Additionally, by holding stTON, you can earn passive income.</p><p>The price of stTON will be determined by smart contracts. It sums up the total number of TON tokens deposited into the bemo pool and the staking rewards earned, then subtracts 20% as protocol fees. The remainder is subsequently divided by the number of stTON minted and distributed to stakers. This process guarantees that the price reflects genuinely the value of the assets in the bemo stake pool.</p><h3 id="stton-utility-and-benefits">stTON Utility and Benefits</h3><p>Unlike similar protocols, bemo introduces a unique staking model—token owners can conveniently use their assets across multiple DeFi services. stTON is currently available on all TON-based apps such as DeDust, Megaton Finance, STON.fi, and TegroFinance. It has also been integrated into the EVAA lending protocol.</p><p>stTON’s integration into these services and protocol makes it a utility-replete token. It serves trading purposes, provides liquidity on DEXes, acts as a reward token, and as collateral for DeFi loans. bemo users enjoy both the utilities of stTON and the passive income generated by merely holding on to them.</p><p>TON has commingled the EVAA lending protocol and bemo to guarantee a sophisticated strategy as well as additional returns. EVAA enables permissionless and decentralized lending/borrowing of assets and users can supply or borrow stTON, TON, USDT, and other liquid staking tokens. Now, when users stake any amount of TON tokens on bemo, received stTON can serve as collateral to borrow additional TON from EVAA. With the TON tokens received as loans, users can increase their staking position on bemo and receive more rewards in the form of stTON. This allows them to repeat the process and accumulate more tokens in the long run.</p><p>While there are significant risks, the cycle of borrowing, staking, and redeploying tokens allows users to gradually increase their holdings via compounded returns.</p><p>As an alternative, stakers can use their earned stTON for trading activities on DEXes or earn more rewards by providing liquidity to liquidity pools. By supplying stTON and TON tokens to these pools, users or liquidity providers (LPs) will further earn rewards from trading fees garnered by the DEX, additional annual percentage yield opportunities, and the accumulation of more staking rewards from bemo.</p><h3 id="bemo-incentive-program">bemo Incentive Program</h3><p>The bemo team has launched an incentive program to celebrate early community members for their role in the growth of the project. They will receive stXPs—points stakers can earn as rewards for undertaking certain on-protocol and off-protocol tasks. stXPs will qualify community members for future airdrops in H2 2024 where they will receive BMO—bemo’s native utility token. bemo plan to allocate up to 20% of the total BMO tokens to stXP holders, pro-rata allocation system. The greater user&#39;s stXP, the more BMO tokens they will receive.</p><p>Users can accumulate stXPs by staking 1,000 or more TON tokens on bemo, holding stTON for three months, and joining multiple liquidity pools on approved DEXes.</p><h3 id="how-to-stake-ton-on-bemo">How to Stake TON on bemo</h3><p>bemo is the first and one of the prominent liquid staking apps on the Open Network blockchain. It allows users to stake TON tokens while maintaining liquidity in other DeFi aspects. Combined with TON’s undeniable efficiency and scalability, bemo delivers a seamless staking experience for users.</p><p>There are no minimum stake requirements, and bemo welcomes stakers of all sizes to the app. Here is a step-by-step guide to staking TON on the bemo liquid staking app.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/3328624f4e5c4a4fb5870aa52b5011b8.png" /></p><ul><li>Step 1: Visit the <a href="https://defillama.com/chain/TON?currency&#61;USD" rel="noopener noreferrer nofollow">website</a> or join the <a href="https://app.bemo.finance/" rel="noopener noreferrer nofollow">Telegram app</a></li><li>Step 2: Connect your TON wallet</li><li>Step 3; Select an amount of TON you wish to stake</li><li>Step 4; stTON tokens will be added to your wallet</li><li>Step 5; You can view your stXP balance under the rewards section of the website.</li></ul>

bemo; Your Guide to Liquid Staking on the TON Ecosystem

Table of Contents

BTC Peers

Other articles published on May 28, 2024

Judge orders the U.S. SEC to pay $1.8M in Debt Box case dismissal

Worldcoin Faces Scrutiny Over Biometric Data Collection Amid Privacy Concerns

ETF Store President Nate Geraci Announced the Start Date of Ethereum ETF Trading! Here are the De...

MicroStrategy's Big Move: From Bitcoin Bet To Russell 1000 Inclusion

Top 5 Altcoins with Millionaire Potential: Experts’ Picks for Today’s Market

Crypto Analyst Shares Altcoins Other Than Solana (SOL) That Could Build Generational Wealth: Rend...

Join our free newsletter for daily crypto updates!