stTON is a derivative token issued by bemo, which describes itself as a pioneering liquid staking platform on The Open Network (TON) blockchain. The bemo platform was built for both individual and institutional holders of TON tokens. It offers a non-custodial staking method, ensuring users retain complete control over their assets.

As a liquid staking token, stTON represents TON that has been staked on bemo. It preserves liquidity, enabling holders to use their assets in DeFi applications while simultaneously earning staking rewards.

By using the bemo platform, TON holders can take part in the network’s validation process without facing the usual obstacles of staking. This removes the requirements for deep blockchain expertise, high-performance hardware, and large minimum stake amounts. Whereas traditional staking locks tokens until the validation round ends, causing illiquidity, bemo solves this by allowing any quantity of TON tokens to be staked. This approach aims to democratize access to the TON PoS validation process.

The bemo protocol operates through smart contracts on the TON blockchain to manage TON deposits, mint and burn stTON tokens, handle validator transactions, calculate and distribute staking fees, and set the stTON/TON exchange rate.

When users stake TON, they receive stTOKENs that represent their portion of the TON pool. The amount of stTON issued depends on the staked TON volume and the current exchange rate between stTON and TON.

Validators process transactions on the TON network and earn TON rewards. Once service fees are subtracted, these earnings boost the value of the bemo TON pool, which in turn raises the value of stTON.

Users may unstake their stTON at any time, triggering a cooldown phase of 36 to 72 hours. Following this interval, stTON is exchanged for TON at the current rate, enabling users to withdraw their TON.

stTON serves as a liquid token that reflects your portion of the total TON pool staked with bemo. Designed to accumulate value, the token’s price rises through staking rewards while the number of tokens you hold remains constant. As your deposited TON generates rewards over time, the value of your stTOKEN increases accordingly.

A smart contract determines the exchange rate between stTON and TON following every validation round. This process calculates the price by summing the total deposited TON and earned staking rewards, deducting any relevant fees, and dividing the result by the total supply of minted stTONs. Because both the underlying asset and the rewards are denominated in TON, this approach allows for precise valuation without relying on external oracles.

bemo was built by a varied group of experts including software developers, blockchain specialists, and professionals from traditional finance. Their shared objective is to design investment tools that benefit everyone, from blockchain beginners to experienced users.

The smart contracts for bemo were created by the same team that launched Fanzee, the first retail project on TON focused on sports fan engagement. This technical group has seven years of experience in building blockchain applications and platforms.