A quick reference for the terms you'll meet across the STON.fi protocol.
- AMM (Automated Market Maker). The smart-contract model STON.fi uses to price swaps automatically, based on the ratio of tokens in a pool rather than an order book.
- AMM protocol. A non-custodial swap protocol built around an AMM design — what STON.fi is.
- APR (Annual Percentage Rate). An estimate of a pool's annualized rate based on recent swap activity. It changes daily and is not a guaranteed rate.
- ARKENSTON. A soulbound NFT you receive when you stake STON. It represents your voting power in the STON.fi DAO.
- Blockchain fee. The network cost — paid in Gram — required to execute a transaction. Usually under 0.3 Gram per swap.
- Farm. A contract that lets you stake your LP tokens so they accrue extra incentive rewards on top of swap fees.
- GEMSTON. The reward token paid to users who stake STON. Freely usable.
- Gram. The native coin of the TON blockchain (formerly Toncoin; previously traded under the ticker TON, now GRAM). Used to pay network fees and as a base asset in many pools.
- Impermanent loss (IL). The temporary loss a liquidity provider can experience when the prices of the two pooled tokens diverge. See What is impermanent loss?
- Jetton. The standard for fungible tokens on TON (similar to ERC-20 on Ethereum).
- Liquidity pool. A smart contract that holds two tokens and enables swaps between them.
- LP tokens. Tokens you receive when you provide liquidity. They represent your share of the pool and can be redeemed for the underlying assets.
- Minimum received. The lowest amount you're guaranteed to receive in a swap, given your slippage tolerance.
- Omniston Widget. An embeddable swap interface that any site or app can drop in to offer STON.fi swaps (and receive referral fees).
- Price impact. How much your swap moves the pool's price. Big swaps in small pools have high price impact.
- Slippage tolerance. The maximum price movement you'll accept between confirming a swap and it landing on-chain.
- Staking. Locking STON for a fixed period to receive rewards and ARKENSTON voting power.
- TON. The blockchain STON.fi runs on. You'll always need a small amount of Gram in your wallet to pay network fees.
- TON Connect. The standard protocol used to connect a TON wallet to a dApp like STON.fi.
- TVL (Total Value Locked). The total value of assets currently held in a pool or across the protocol.
- WCPI / Stableswap / WStableswap. Specialized pool types beyond the standard 50/50 design. See Pool types & strategies.