STON.fi

STON.fi receives a C+ risk grade (37/100) from Hindenrank, where lower scores indicate lower risk. STON.fi is the clear market leader on TON with strong institutional backing, but its fate is inseparable from the Telegram-TON ecosystem. The Omniston cross-chain vision is ambitious, and the Trail of Bits audit provides baseline security confidence. However, the concentrated ecosystem dependency and significant unreleased token supply create material risks. STON.fi is the leading decentralized exchange on the TON blockchain, deeply integrated with the Telegram ecosystem. Users can swap TON-based tokens, provide liquidity to earn trading fees, and farm STON token rewards. With over $6 billion in all-time trading volume and 28 million transactions, it dominates TON DeFi. The protocol raised $9.5M in Series A funding from Ribbit Capital and CoinFund in July 2025, and is building Omniston, a cross-chain aggregation protocol for bridgeless swaps. Smart contracts are audited by Trail of Bits with active bug bounty programs through Certik and HackenProof.

The key risks identified for STON.fi are: (1) STON.fi is deeply dependent on the Telegram-TON ecosystem — regulatory action against Telegram could disrupt access to the entire platform. (2) 63% of STON tokens are still locked and will vest to early investors, creating future sell pressure risk. (3) TON blockchain's unique architecture means security tooling and auditing practices are less mature than for EVM chains.

STON.fi scores 37/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 6/20, Oracle Surface: 2/10, Documentation Gaps: 3/10, Track Record: 10/15, Scale Exposure: 5/10, Regulatory Risk: 2/10, Vitality Risk: 6/10. The highest risk area is Track Record at 10/15.

Among 111 rated DEX protocols on Hindenrank, STON.fi ranks #71 by safety (lowest risk score = safest). Its 37/100 risk score and C+ grade place it in the middle tier of DEX protocols.

STON.fi scores 10/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.