DeDust.io Exchange Launches SCALE Staking, Token Price Surges 60%

The decentralized exchange on The Open Network (TON) blockchain, DeDust.io, has initiated staking for its native token, SCALE. This was reported to ForkLog by the Scaleton developers.

To participate, users need to visit the Staking SCALE page, connect a wallet that supports TON, and click the Stake button.

Staking does not require a minimum amount. Users can withdraw funds 72 hours after submitting a request or immediately with a 5% fee.

According to the developers, the platform received $300,000 in protocol fees in April alone. Starting May 2024, these funds will be converted into SCALE and distributed daily among stakers.

“This is not a temporary promotion, but a fundamental principle. It will also be applied to other Scaleton products.

The protocol fee is distributed through a new mechanism. We earn our share by staking SCALE alongside users,” project representatives commented.

Within a day after the announcement on May 2, SCALE holders locked $6.5 million in staking. Within a week, the amount reached $8.6 million (about 8% of the token’s issuance). Following the news, the SCALE price rose from $3.5 to $6.5.

In April, Tether added support for TON.