What are stablecoins and how to get them on TON?A stablecoin is a cryptocurrency whose value is tied to the value of a specific asset — the US dollar, for example. Stablecoins in the TON network are Jettons, which we have covered in depth in our previous post.
Stablecoins can be a reliable tool for storing assets and protecting them from volatile token price fluctuations.
Why are stablecoins necessary for the development of a blockchain? Stablecoins allow you to easily manage your assets. Unlike traditional financial instruments, you can conduct transactions and payments quickly and easily, avoiding multiple hurdles. This advantage is especially valuable for international transfers, where stable Jettons can substantially speed up the process while reducing fees and currency exchange costs.
The DeFi market on TON is still in its early stages. We hope that in the future there will be a number of new services that actively employ stablecoins: DEXs for futures trading, lending protocols, smart contract casinos, and others.
How to get stablecoins on TON?Although The Open Network does not yet have its own stablecoin, it is still possible to purchase stable currencies. The RSquad bridge will help you with this.
Today, TON Foundation has finally released a bridge to transfer tokens from the Ethereum network to the TON network and vice versa. The current TON Bridge will be upgraded with new functionality.
The TON Trustless Bridge is planned to go live in the third quarter. It is a special bridge with unique features, whose security is guaranteed by the blockchain itself. Once it’s released, users will be able to create Jettons on other networks.
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