What Is Jetton and What You Need to Know About Tokens on TON Blockchain

What Is Jetton and What You Need to Know About Tokens on TON Blockchain

The Open Network impresses with its technical and innovative approaches. The tremendous transaction speed, coupled with the ideology of privacy, attracts millions of users and developers from around the world to join the blockchain revolution. Let’s explore the features of tokens issued on the TON blockchain and how to use them.

What Is TON Blockchain?

The TON (The Open Network) is a high-performance multi-blockchain platform designed to offer efficient, secure, and scalable blockchain solutions. Leveraging a unique architecture, TON is capable of processing millions of transactions per second thanks to sharding technology, which allows the network to distribute the load across numerous parallel chains. Unlike other blockchains, TON provides built-in support for smart contracts and decentralized applications (DApps), along with a unique “instant hypercube routing” system for ensuring fast transaction speeds. Additionally, TON includes advanced features to facilitate user-friendly access to decentralized finance (DeFi) and other blockchain services, making it a comprehensive ecosystem for digital innovation.

New TON accounts TON accounts created. Source: tonscan.com

What Is Jetton?

Jetton is a digital token standard on the TON (The Open Network) blockchain, designed to facilitate the creation and exchange of tokens within the TON ecosystem. Unlike traditional cryptocurrencies, Jettons allow users and developers to mint custom tokens that can represent a variety of assets or values, providing a flexible tool for decentralized finance (DeFi), gaming, and other applications. This standard supports seamless integration with smart contracts and decentralized applications on the TON platform, enabling efficient, secure, and scalable token transactions. Jetton’s design underscores the adaptability of the TON blockchain to a wide range of use cases, promoting innovation and expansion in the digital asset space.

A crypto-token is a type of digital asset that represents ownership or a right to use certain services, which is recorded and transferred on a blockchain network.

Polular Jettons

The TON blockchain is relatively young, so it’s still early to talk about any truly significant and innovative projects released in the form of tokens. Often, popular tokens are those of projects that have long existed on other blockchains, such as ERC20, and represent a simple import supported either by the token issuer itself or by a third-party company that facilitated this import. A vivid example of such practice is jUSDT and oUSDT, which are imports of the original USDT but not issued by Tether, the owner of USDT. Although this entails additional risks, it’s worth noting that this contributes to the development of the ecosystem and the widespread adoption of TON as a blockchain overall. Another popular category of tokens are various meme tokens and projects by TON enthusiasts that do not carry additional functionality beyond the ability to transfer tokens on the TON blockchain.

Learn more about the TOP Jettons:

  • Stablecoin oUSDC
  • Stablecoin jUSDT
  • Jetton Lavandos

Polular Jettons Polular Jettons on TON. Source: ton.app

Obtaining a Jetton Address for Your Tokens

Getting a Jetton address for your tokens is very simple - install the Gem Wallet and on the page of the desired Jetton, click the ‘Receive’ button. The code you receive is your address on the TON network - you can withdraw tokens from the exchange to it or share it with your friends to receive Jettons from them.

Please note that your address for different Jettons is the same and matches the TON address - and that’s how it should be. During transactions, Jettons are either credited to or debited from your address for outgoing transfers, so the address for different Jettons coincides.

Acquire JETTONS

You can acquire jettons through several methods, depending on your preferences and capabilities. Here’s a selection of the most popular ways:

  • Airdrop: Many projects are just starting their journey, so they generously distribute and allocate tokens to attract an audience. You can also try your luck.
  • Receiving transfers: If you’ve already acquired tokens using an exchange or a trading platform, you can simply withdraw them for safekeeping in your Gem Wallet.
  • Buying Jetton with a credit card: A fast and convenient way to obtain the desired Jetton or Toncoin without spending time and effort. Get the desired Jetton directly in your wallet window - just click the “Buy” button and follow the prompts, and the Jetton will be in your balance in minutes.
  • Swaps: An excellent method for users who already have Toncoins or other Jettons in their wallet balance, simply swap them for the desired Jetton in a couple of clicks.

Storing Your Jettons Safely

Don’t forget to pay attention to the question of personal data security and the safety of your crypto assets when working with TON and Jettons. While the TON blockchain itself is aimed at a high level of security and privacy, unscrupulous applications and websites can pose certain risks. Gem Wallet embraces the ideology of security and privacy underlying The Open Network, which is why choosing Gem Wallet as your wallet for your Jettons provides you with:

  • Self-custody: Only you have access to your crypto assets.
  • Open source: Transparency to users and internet security researchers.
  • Privacy and Security: High standards of security for both assets and user data.
  • Functionality: With Gem Wallet, you’ll have full access to The Open Network, not only to basic token sending and storage capabilities but also to NFTs, authorization, staking, and much more.

How to Send Jetton to Another Address

To send Jettons to another address, you will only need two things: the recipient’s address and a small amount of Toncoin in your balance to cover the network transaction fee. It’s a good idea to keep some TON on your wallet if you plan to actively use Jettons, so you always have the necessary amount to cover transaction fees. Any unused Toncoins can be sent to staking for some passive income until you need them.

What Else Can You Do with Jettons?

Beyond simple transfers, TON blockchain tokens can be used in decentralized finance (DeFi) applications, governance through voting, trading and investment opportunities, creating and managing your own tokens, and engaging with non-fungible tokens (NFTs) and digital art, offering a wide array of uses within the ecosystem.

Swap Jettons

You can exchange one Jetton for another within the wallet using the swap function. This is a convenient way to get the desired Jetton or, conversely, exchange Jettons for Toncoin in just a few clicks. Alternatively, you can directly utilize various DEX solutions on the TON blockchain.

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