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The TON blockchain has emerged as a promising platform, but for institutions (wallets, exchanges, custodians etc.) looking to offer Toncoin staking to their customers, current options come with serious limitations. From high staking minimums to complex pool management, existing solutions fall short of meeting the needs of large-scale, flexible staking.
Recognizing this gap, we have launched TON Pool – a staking solution designed to meet the unique requirements of institutional players while making Toncoin staking simpler, more efficient, and scalable.
The TON ecosystem currently offers the Nominator Pool and Single Nominator contracts as staking options. However, both models restrict the number of delegators and impose high minimum stake requirements, which limits accessibility for larger institutions that manage staking services for numerous clients. These limitations force institutions to distribute stakes manually across multiple pools, adding operational complexity and increasing transaction fees, while impacting the final yield. (We covered the current TON staking mechanisms in detail here.)
With these pain points in mind, we saw an opportunity to create a tailored solution that eliminates these barriers and optimizes staking for our customers needs.
TON Pool addresses the shortcomings of current models by providing a flexible, high-efficiency staking solution that scales for larger institutions and various service providers. TON Pool aggregates Toncoin from an unlimited number of users into a single pool, offering seamless in-protocol distribution across multiple validators and removing the need for complex management. The result? A more streamlined, cost-effective, and yield-optimized staking experience for institutions and their customers.
TON Pool is designed for:
One of the most significant advantages of TON Pool is its streamlined staking flow. Here’s a comparison of how staking works with traditional models versus TON Pool:
With TON Pool, customers no longer need to juggle multiple addresses or pay per transaction. Instead, they delegate once, paying a single fee, while all technical complexities are managed seamlessly within the protocol.
“TON Pool is our answer to the challenges institutions face when staking on the TON blockchain. We built this solution to remove unnecessary steps, lower costs, and provide a scalable option for institutions that require a higher degree of flexibility. TON Pool makes staking more accessible and profitable, which we believe is essential to driving the TON ecosystem forward,” - Brian Fabian Crain, CEO, Chorus One.
For more details about TON Pool and to get exclusive discounted commission rates, reach out at staking@chorus.one, and sign up now to be among the first to experience streamlined, scalable Toncoin staking.
Chorus One is one of the largest institutional staking providers globally, operating infrastructure for over 60 Proof-of-Stake (PoS) networks, including Ethereum, Cosmos, Solana, Avalanche, Near, and others. Since 2018, we have been at the forefront of the PoS industry, offering easy-to-use, enterprise-grade staking solutions, conducting industry-leading research, and investing in innovative protocols through Chorus One Ventures. As an ISO 27001 certified provider, Chorus One also offers slashing and double-signing insurance to its institutional clients. For more information, visit chorus.one or follow us on LinkedIn, X (formerly Twitter), and Telegram.
We are thrilled to introduce our latest product, Chorus One SDK. This advanced toolkit is set to transform how our customers integrate staking functionalities into their applications. As the leading staking provider with the most extensive network support in the industry, robust security features, and comprehensive transaction management, our SDK (Software Development Kit) is poised to become an essential tool for institutions and developers, enabling them to leverage enterprise-grade staking solutions across all major networks including Ethereum, Solana, TON, Avalanche, Cosmos, NEAR, and Polkadot with unparalleled ease and efficiency.
The Chorus One SDK is an all-in-one toolkit for building staking dApps or implementing programmatic native staking into your product. It supports non-custodial staking on various networks validated by Chorus One. With this SDK, our customers can build, sign, and broadcast transactions, as well as retrieve staking information and rewards for user accounts.
Chorus One has the most extensive network support for staking in the industry. Currently, the Chorus One SDK provides support for the following networks, with plans to expand to even more in the future:
The Chorus One SDK is designed for a diverse audience, including:
By using the Chorus One SDK, our customers can easily integrate programmatic native staking, access detailed staking position data, and minting of osETH LST to offer flexible staking options to their end users.
At Chorus One, we prioritize security, transparency, and user control. Our decision to develop an SDK over a traditional API was driven by the following considerations:
Enhanced Security
Verifiable Trust and Transparency
Open-Source and Auditable
💡 Why does it matter?
Choosing the Chorus One SDK means prioritizing security, transparency, and user empowerment. With local transaction building and signing, and open-source transparency, users can confidently participate in staking activities across supported networks.
Our SDK offers a robust suite of tools for managing staking operations on various networks. Here’s a high-level overview of its functionality:
Comprehensive Transaction Management
Detailed Information Retrieval
Integrated Validator Support
Command Line Interface (CLI)
For more detailed information on how our SDK works and technical guides, explore the following resources:
The launch of Chorus One SDK marks our commitment to simplifying staking. By equipping our customers with all the necessary tools, we enable them to effortlessly integrate and deliver an exceptional staking experience to their end users.
If you’re an institution, wallet provider, asset manager, or developer looking to integrate staking into your product or would like to learn more, reach out to us at staking@chorus.one.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 60+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
In Part 2 of our TON Series, we dive into TON’s staking mechanisms. We'll cover the what, why, and how of staking TON, as well as how to get started easily with Chorus One.
TON leverages the Proof of Stake (PoS) consensus algorithm, a system where validators are responsible for proposing and validating new blocks of transactions. In TON's PoS model, validators are selected through a competitive election process to ensure the highest levels of security and performance.
The Election and Validation Process
The election process is central to TON staking. During each consensus round, potential validators submit their applications along with their stake and other parameters, which determines the level of maintenance they are willing to perform. The Elector governance contract evaluates these applications, selecting validators based on their stake and parameters, aiming to maximize the network's overall stake.
Once selected, validators enter a validation cycle, as depicted in the timeline diagram below:
Key Phases of the Validation Cycle:
To ensure continuous network operation, TON employs two types of pools—odd and even—which operate in alternating cycles, providing seamless validation without interruptions.
Minimum stake
To be eligible for the validator election process, validators need a minimum stake of
300,000 TON. Validators stake Toncoin for a fixed specific term, and the stake is refunded with interest after the completion of a validation round.
Validator rewards
Each transaction on TON requires a computation fee called gas used to conduct network storage and the transaction processing on-chain. Like most blockchain networks, on TON, these fees are accumulated within the Elector contract in a reward pool. 50% of fees users pay are burnt and 50% goes to validators.
The network also subsidizes block creation by adding a subsidy to the reward pool equal to 1.7 TON for each block in the main chain, called masterchain. TON’s architecture allows for the creation of parallel chains, called workchains. For workchain blocks, the reward per block is set to 1 TON. The network has an inflation rate of approximately 0.3-0.6% annually.
TON offers several staking mechanisms to cater to different needs and preferences. Let's explore these options:
The Nominator Pool is central in TON's staking ecosystem, offering a collaborative approach to staking that allows multiple users to pool their Toncoin (TON) tokens and collectively participate in the network's validation process. This pooling mechanism is designed to democratize staking, making it accessible to a broader range of participants who may not have sufficient tokens to meet the minimum staking requirements individually.
The Nominator Pool enables a group of up to 40 nominators (stakers) to combine their staking power and delegate it to a validator like Chorus One. This collective staking approach not only helps in meeting the high minimum staking thresholds but also ensures that the network remains secure and robust by leveraging the combined resources of multiple stakeholders.
How the Nominator Pool Works:
To visualize the Nominator Pool workflow, consider the following diagram:
This workflow ensures continuous network validation, with odd and even pools alternating their validation cycles to maintain seamless operation and security of the TON blockchain.
Pros and Cons of the Nominator Pool
Pros:
Cons:
2. Single Nominator Pools
The Single Nominator Pool is a streamlined and secure staking mechanism within the TON ecosystem, designed specifically for validators who have sufficient TON to stake independently (aka solo stakers). This approach reduces complexity and enhances security by focusing on a single nominator, making it an ideal choice for those who prefer a more straightforward staking process.
The Single Nominator Pool allows a single entity to manage the staking process, providing a simplified and secure framework for validators. By eliminating the need for multiple nominators, this mechanism significantly reduces the attack surface, making it easier to safeguard the staked assets.
How the Single Nominator Pool Works
To illustrate the workflow of the Single Nominator Pool, consider the following diagram:
This simplified workflow highlights the continuous cycle of election, delay, validation, and hold phases, ensuring the seamless operation and security of the TON blockchain.
Pros and Cons of the Single Nominator Pool
Pros:
Cons:
The Single Nominator Pool offers a secure and efficient staking solution for individual validators, combining simplicity with enhanced security measures. By focusing on a single participant, this mechanism ensures that the staking process is straightforward and easy to manage, making it an attractive option for those looking to stake their TON independently.
3. Liquid staking
Liquid Staking protocols enable TON holders to participate in staking pools, lending their funds to validators at a predetermined interest rate. In return, stakers receive liquid staking receipt tokens, known as Pool Jettons, which represent their share in the pool. These tokens can be exchanged back for TON at any time, allowing stakers to maintain liquidity while earning rewards.
The protocol is user-agnostic, accommodating users of all capital sizes without any minimum or maximum stake requirements.
How TON Liquid Staking Works
Pros and Cons of TON Liquid Staking
Pros:
Cons:
The Liquid Staking Contract offers a versatile and powerful staking solution on the TON blockchain, combining the benefits of liquidity, decentralization, and accessibility. By understanding and leveraging this mechanism, users can participate in network validation more flexibly and securely, contributing to the overall stability and growth of the TON ecosystem.
Chorus One offers white-label TON validator services for institutional customers, as well as deployment and management of nominator pools. We can create nominator pools for our customers, requiring a minimum delegation of 300,000 TON tokens (TONcoin).
As the operator, Chorus One takes full responsibility for the operational fees, maintenance, and performance of the validator, ensuring seamless and efficient service.
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About Chorus One
Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
The rise of TON (The Open Network) has been spectacular, driven by its seamless integration with Telegram and remarkable price performance, reaching new all-time highs in June 2024. Its native token, Toncoin ($TON), has achieved a market cap of $17 billion and a total value locked (TVL) of over 660 million at the time of writing.
This year, the network has gained tremendous traction, becoming the preferred solution for Web3 integration with Telegram, which reportedly has over 900 million users worldwide.
Key developments fueling TON's rapid adoption include the global launch of TON Space, a self-hosted digital wallet (Telegram Wallet), a strategic partnership with Tencent to create a ‘Super App Eco-platform,’ and the launch of native stablecoin payments. Major investors like Pantera Capital have also highlighted TON’s scalability and extensive user base, comparing its potential to that of Solana or Ethereum and claiming TON as one of the most exciting and unique blockchains in existence today.
Below, we explore some of the most unique innovations within the TON ecosystem. 👇
The Telegram Wallet, introduced in the fall of 2023, is a versatile tool for managing digital currencies directly within the Telegram messaging app. It offers both custodial and non-custodial options, giving users the flexibility to choose between having Telegram manage their keys or maintaining full control themselves.
TON Space, a novel feature within the Telegram Wallet, serves as its non-custodial component. It allows users to store, send, receive, and exchange various cryptocurrencies, including Toncoin, Bitcoin, and stablecoins, all within the app. Users can back up their wallets using Telegram and their email, eliminating the need to remember a seed phrase. Additionally, users can track their portfolio in real-time and receive transaction notifications.
Why this matters:
The key advantage of TON Space is its seamless integration with Telegram, providing easy access to funds, quick transactions with contacts, as well as enhanced security and flexibility for experienced users. Its integration with Telegram bots and services allows for efficient market updates, trading actions, and service payments, all in one place.
TON Space simplifies digital asset management, making it accessible to a broader audience while offering advanced features for experienced users. By combining the convenience of a messaging app with the functionality of a comprehensive wallet, TON Space aims to drive mass adoption of cryptocurrency, potentially increasing the user base to 500 million by 2028.
To understand how to choose the right wallet for your TON assets here, visit: https://www.coingecko.com/learn/top-ton-wallets-jettons-crypto
TON capitalizes on the messaging app's extensive user base to create a network capable of supporting a wide range of applications. Its ecosystem comprises the TON Blockchain, TON Storage, TON DNS, and TON Services, all designed to work seamlessly together.
At the core of TON is its blockchain, built for high performance and scalability. Its dynamic sharding mechanism enables the network to process millions of transactions per second, scaling efficiently as the user base expands.
Dynamic sharding is TON's key feature for achieving high scalability. The ability to shard into individual chains (work chains and shard chains) allows TON to "distribute" transactions, effectively removing the bottleneck of processing transactions on a single blockchain. Learn more about how TON’s dynamic sharding works here.
Why this Matters:
TON’s multifaceted services extend beyond traditional blockchain functionality, aiming to establish a foundational Web3 platform. By integrating various decentralized services within a single ecosystem, TON provides the infrastructure necessary for a decentralized internet, positioning itself as a significant player in the evolution of digital infrastructure. Additionally, TON’s highly scalable blockchain offers an ideal platform for developers looking to deploy applications for a large audience without compromising on speed or security.
Over 360 million users engage monthly with Telegram's “Mini Apps,” including chatbots and mini-games which are easily accessible via the TON Space. These TON-based applications leverage TON’s innovative support for payment channel technology (or Lightning Network) designed for fast off-chain transactions, efficiently handling microtransactions and high-frequency trading.
Why this Matters:
TON’s native support for off-chain scaling and the lightning network design addresses the scalability trilemma more effectively than bolt-on solutions. It allows the blockchain to handle high-frequency, low-value transactions, which are essential for the mainstream adoption of blockchain technology.
Currently, there are over 300 projects on TON, with most building mini-apps accessible via the Telegram Apps Center. Earlier this year, memecoin trading tools like BonkBot leveraging this technology generated millions of dollars in revenue through Telegram’s interface. TON-based applications such as StormTrade now enable users to trade perpetuals, cryptocurrencies, stocks, and equities using the same platform. With StormTrade facilitating over $10 million in daily trading volume, similar TON-native Telegram bots are poised to become the preferred user experience for many traders.
On April 19th, 2024, Tether announced the deployment of a stablecoin, USDt, on the TON blockchain and in Wallet in Telegram. This development represents a significant advancement for the industry, allowing hundreds of millions of users to seamlessly send and receive stablecoins through the Telegram platform, making payments as easy as using Venmo or Apple Cash.
Additionally, as part of the TON network’s scalability plan, straight from Telegram Wallet, users can transfer USDt to i) contacts or other Telegram users; and ii) their own or others’ addresses in the TON blockchain for a very low fee (currently ~0.005 TON), making it a very convenient and competitive platform for small businesses and services.
Why this Matters:
For the TON community, integrating USDt into Wallet in Telegram significantly improves the transaction experience. Users benefit from free transfers within Telegram and only pay network fees when transacting on-chain, using TON space or other self-custodial wallets. USDt on TON also provides an accessible entry point for newcomers to cryptocurrencies, combining the advantages of digital currencies with the stability of traditional fiat currencies.
In fact, the supply of USDT stablecoin on the TON network crossed 500 million after two months of rollout, reflecting a high demand for this use-case.
Even when transacting on-chain, the TON blockchain is relatively cheap. Employing a gas based model, simple transactions’ fee currently averages 0.005 TON, or $0.04 at the time of writing when $TON was priced at $8. At this level, TON positions itself as a potential competitor to Solana - although TON’s scalability has not yet been tested as extensively.
Inflation rate in the protocol is 0.5% per year - considerably small compared to other blockchains. To compensate for that, all network participants are rewarded from both transaction fees and block rewards. As a consequence, users are incentivized to stake their TONcoin to secure the network and directly benefit from network adoption. The biggest advantage lies in keeping assets staked on-chain rather than with external parties offering a fixed APY, e.g. centralized exchanges. As part of a deflationary mechanism, 50% of all TONcoin collected in fees is burnt.
TON relies on the DPoS consensus mechanism with a set of validators who propose and validate new blocks. The validator set is determined by the Elector governance smart contract, which allocates new rounds based on each validator's weight, represented by the amount of tokens delegated to them.
Staking is one of the safest and most predictable ways to earn rewards in the crypto space, as the value originates from the blockchain’s native currency inflation, making it forecastable.
By staking your TON, you help secure the network and earn rewards. Chorus One is the leading enterprise-grade staking platform, enabling institutional customers to stake TON and integrate TON staking functionality into their offerings. We are ready to closely collaborate and contribute to the success of the TON ecosystem, and provide the best staking experience possible.
Reach out to us if you are an institution looking to stake TON with Chorus One.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
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