Omniston

Omniston logo

Omniston is a smart contract system authored by STON.fi that pools liquidity from an array of DEXs and resolvers in TON, resulting in the best prices for traders on the blockchain.

Aside from efficient and reliable token exchanges for the end user, developers have access to enhanced liquidity and optimal swap rates, as well as easy integration with TON DeFi apps. Omniston went live on October 14th 2024.

Liquidity providers’ returns are optimized with automated liquidity routing, which virtually brings together all TON’s liquidity together within one application.

The wider user base derived from the combined TON-based DeFi apps means a larger audience for the liquidity provider and an increase in transaction volume. As a result, liquidity is directed where it faces the highest demand.

How Omniston works

Mechanics

When a user needs to swap one token for another, they log into an app that allows swapping on TON and posts a swap request.
The swap request is received by Omniston from the app.
Omniston creates a Request for Quote (RFQ) and forwards it to resolvers and DEXs, including external ones.
Resolvers and DEXs return their quotes to Omniston.
The best quote is then picked and executed by Omniston.
The user gets the token.

RFQ

The request for quote protocol is pivotal to Omiston as it functions off-chain to find the best offers on platforms that aren’t necessarily familiar to the end user. It does not handle the funds, as funds are only accessible to those parties to the trade.

The RFQ mechanism also ensures there isn’t any slippage in price in the trading process. The exchange function is effectively carried out by Hashed Time locked Contracts (HTLC), guaranteeing that trades are carried out at the specified price requested in the beginning of the trade.

Future developments

Omniston is looking to work across diverse blockchains via advanced privacy protocols, with TRON network being one of the first ones.
Integration of a decentralized governance model
Strategic partnerships with other industry leaders to widen the net of adoption and increase innovation.

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