The TON blockchain is rapidly emerging as a major player in the decentralized finance (DeFi) space, and its adoption is nothing short of explosive. According to data from DeFi Llama, the total value locked (TVL) across all DeFi platforms on the TON blockchain skyrocketed to an impressive $200 million as of May 2024, representing a staggering 37,100% surge since the beginning of the year. This remarkable growth is further corroborated by the substantial increases in monthly active wallets (528%) and the TON coin’s market capitalization (160%) over the same period, indicating a surge in user adoption, development activity, and investor interest.
At the forefront of this DeFi revolution on TON stands bemo, a cutting-edge liquid staking application that allows users to stake their TON tokens while retaining liquidity through the issuance of stTON tokens. These stTON tokens appreciate in value over time as staking rewards are generated, enabling users to participate in various DeFi services and strategies without sacrificing their staked assets. Users can leverage their stTON tokens on decentralized exchanges (DEXs) like STON.fi, Megaton Finance, and TegroFinance, as well as lending protocols like EVAA, to maximize their yields through strategies such as leveraged staking and liquidity provision. Additionally, bemo offers an incentive program that rewards users with stXP points, making them eligible for future BMO token airdrops. In a nutshell, users of bemo get a chance to seamlessly tap into the burgeoning DeFi ecosystem on TON, unlocking liquidity, maximizing yields, and earning attractive rewards while contributing to the growth and development of this innovative blockchain.
In an exclusive interview, Pavel Altukhov, the visionary Founder and CEO of bemo, shares insights into the platform’s role in unlocking the burgeoning DeFi ecosystem on the TON blockchain.
1. What inspired the creation of bemo, and how do you envision your liquid staking solution revolutionizing the DeFi industry on TON?
We saw the TON blockchain as only blockchain to be supported within the Telegram messenger. Betting on TON, you bet on the ecosystem development. Back in 2022 there was no TON DeFi, and as we consider liquid staking to be an essential part of a DeFi landscape that was an obvious choice for us.
2. Can you walk us through the technical details of how bemo’s liquid staking mechanism works, including the process of issuing $stTON tokens and accruing staking rewards over time?
The process is straightforward – the user deposits $TON tokens into our protocol, the tokens are aggregated in a special pool that participates in validation and earns staking rewards. The user receives $stTON tokens that represent their share in this pool. $stTON can be used and transferred as any other token. It’s price will constantly grow relative to $TON as the special pool grows receiving staking rewards constantly.
3. What specific security measures and audits has bemo implemented to ensure the safety of users’ staked $TON tokens and the proper management of the $stTON token issuance?
bemo is a non-custodial liquid staking platform. This means that our application’s smart contract ensures that only you have access to your tokens. The $stTON liquid staking tokens are fully backed by the $TON token pool, and you can always redeem and withdraw them within the app. Recently, our app was successfully audited by CertiK and Tontech and it is currently undergoing an audit by one of the most experienced and respected company in the space.
4. Can you elaborate on the $stXP points incentive program, including the criteria for earning these points, the rewards associated with them, and the planned $BMO token airdrop?
$stXP is a pre-token of the bemo liquid staking protocol. Every $stXP earned converts in the future into a $BMO token. Accumulating $stXP is straightforward: stake, hold, provide liquidity, or swap it. The more active you are, the more rewards you get. We provide opportunities to earn tokens to both active participants and DeFi enthusiasts, as well as long-term passive investors. In November of 2024, $stXP will be converted into $BMO, the platform’s native tokens.
5. What are some of the unique features or innovations that bemo is working on to differentiate its liquid staking solution from competitors in the TON DeFi ecosystem?
We consider staking yield essential for every $TON holder, but we do not think that is the end game for the investor. That is the reason we are the only staking protocol on TON to reward every user of the app with our tokens. I believe we are unique in a way we approach further use of $stTON as we aggregate the best yields for it in DeFi and present them in a comprehensive format right in the app. We expect a big app update this week, follow the announcements in our Telegram channels and on X platform.
6. Can you share insights into bemo’s partnerships or collaborations with other projects within the TON ecosystem, and how these collaborations aim to drive adoption and provide users with more comprehensive DeFi services?
We work closely with the most secure and useful dapps in TON. We focus on three core aspects in our research: utility, liquidity and security of the applications we partner with. Opportunities presented in the app display the results of that research aimed at benefiting our users and delivering the highest yield while keeping the risk managed. We envision staking as a service not only for the large $TON investors but for the holder of any amount of tokens. That is why we are partnering up with the best expertise on the GameFi side. We want to make the staking experience more engaging and the games more rewarding. We are very early on that journey but we bet heavily on retail stakers in the future and will do our best to make staking fun.
7. How does bemo’s liquid staking solution address the specific challenges of liquidity and capital efficiency faced by users in the DeFi space, particularly on the TON blockchain?
Liquidity is what differentiates our app. Users can use $stTON as a regular token in any DeFi app and earn additional income on top of staking reward. We believe the strategy of staking with bemo and holding $stTON is the most capital efficient strategy for large risk averse $TON investors. This strategy bears no additional risk and apart from the staking reward yields the user $BMO tokens.
8. What are some of the key milestones or achievements that the bemo team is most proud of so far, and how do these contribute to the project’s overall vision and success?
We have built a large and active community of over 30,000 members, with 12,000 active users, and a total value locked of $80 million. These achievements reflect our dedication to innovation and web3 approach to all that we do. Value to users is in the DNA of bemo.
In spring, we launched bemo’s pre-token $stXP, celebrating the upcoming release of the platform’s utility token this November. In this way we share ownership of bemo with our users embracing the essence of Web3.
9. Looking ahead, what are bemo’s future plans or roadmap for expanding its offerings, integrations, or partnerships within the rapidly evolving TON DeFi ecosystem?
In the fall of 2024, we are releasing the platform’s utility token $BMO. We continue to work on the yielding strategies and products for the $stTON token holders. The new application update will make the user experience more intuitive and comprehensive. As always we continue to strive to deliver the highest staking based yield for the users!
