TONCO DEX Celebrates Mainnet Launch with 3500 USDT Giveaway

On November 19, Algebra launched TONCO, a decentralized exchange (DEX) on The Open Network (TON) mainnet, featuring support for concentrated liquidity based on the CLAMM model. To mark the occasion, the project team will distribute 3500 USDT among early users, as announced on X.

? TONCO Trading Campaign Starts Tomorrow! ?

The wait is over—TONCO activities are here! Starting tomorrow, complete onchain tasks on TONCO DEX and claim your share of 3,500 USDT + exclusive rewards!

? Learn more: https://t.co/DFmeLt5mfm. pic.twitter.com/vtK8vZtl4E

— TONCO (@Tonco_io) November 18, 2024

“Complete onchain tasks on the platform and share in the prize pool of 3500 USDT. Each participant will receive TONCO points, which can be exchanged for rewards in the future.

Additionally, we are open to collaborations and ready to support token creators initiating listings on the platform,” commented TONCO.

The DEX team has launched farming based on the USDT/TON pool with additional rewards for LP. Liquidity can be added through the TONCO application.

The concept of concentrated liquidity was introduced in March 2021 by the developers of DEX Uniswap in the third version of the protocol. The Algebra team enhanced the Uniswap V3 idea with dynamic fees, built-in farming, modular architecture, and other improvements.

“To enhance capital efficiency, a concentrated liquidity model was developed — AMM V3 (or CLAMM). TONCO is the first to bring this technology to the TON blockchain. LPs can place liquidity in narrow price ranges to maximize fee income by concentrating funds where they are truly needed. Traders benefit from greater market depth, improving trade execution and reducing slippage.

TONCO technology increases capital efficiency by up to 95% compared to traditional AMM V2, making it one of the most advanced DEXs on TON,” commented Algebra representatives.

LPs can adjust positions to minimize impermanent losses.

The CLAMM model created by Algebra underpins more than 30 DEXs in EVM networks, including Camelot (Arbitrum), QuickSwap (Polygon), and THENA (BNB Chain).

Previously, developers of the L2 network TAC announced the creation of technology to provide Telegram users and the TON ecosystem with access to EVM applications.