At Newzchain, we spotlight some of the most compelling startup stories — the kind that shape industries and redefine user experiences. In this edition of Newzchain Exclusive, we dive into STON.fi, a project that’s quietly reshaping how people experience decentralized finance (DeFi).
We spoke to Slavik Baranov, the founder of STON.fi, about the journey so far, the tech behind their rapid growth, and what it means to build for real-world adoption inside Telegram’s billion-user ecosystem.
What followed was a conversation about growth, grit, and going where the users already are.
Building for Where the Users Already Are
The STON.fi story started with a simple observation: the majority of DeFi platforms assume people will go to them. However, the team at STON.fi flipped this on its head. Rather than waiting for others to find DeFi, they took it to an environment where millions of people already spend time — Telegram.
“We started STON.fi because we saw a huge gap in how DeFi was reaching people,” said Baranov.
“For us, that meant Telegram. It’s where 1 billion people spend their time, and the TON blockchain made it possible to build something fast and smooth right inside that experience.”
Initially focused on simplifying token swaps for the TON ecosystem, STON.fi soon expanded to include core DeFi features like liquidity provision, staking, and yield farming. But one of its most notable advancements is Omniston, a decentralized liquidity aggregation protocol designed to address 'fragmented liquidity,' which is one of the biggest hurdles in DeFi.
With Omniston, developers gain access to deep liquidity through a single integration, while liquidity providers benefit from efficient routing and smart allocation. It’s part of the team’s broader goal to create foundational infrastructure for DeFi on TON — streamlined, scalable, and adoption-ready.
In 2024, STON.fi’s vision gained strong validation with a round of funding from well-known names in the crypto space. The round included investors such as CoinFund, Delphi Ventures, TON Ventures, and the founders of 1inch and LI.FI. The funding has helped the team accelerate development and strengthen their position in the TON DeFi ecosystem.
From Launch to 4.7M Wallets in Under Three Years
STON.fi officially launched its protocol in November 2022 and has steadily grown into one of the most active platforms in the TON DeFi ecosystem. What started with simple token swaps has grown into a full suite of DeFi tools.
The release of STON.fi V2 in 2024 brought a major performance leap, introducing one-click liquidity pool creation, sniper-bot protection, flexible referral fees, and an Impermanent Loss Protection feature that covers up to 5.72% for STON/USDT V2 pool LPs. They also launched their first stableswap pool and upgraded their developer SDK with mintless token support and transaction deadline management.
That same year, STON.fi introduced a Grant Program to support builders.
“We’ve helped 60 TON-based projects so far — everything from staking tools to auto-reinvest features,” said Baranov. “Over $100,000 has been distributed to date, giving a real boost to the developer ecosystem.”
Community has also been a focus. Through the Stonbassadors program, STON.fi has built a network of over 1,500 active ambassadors globally, and many have hosted more than 30 live events.
The team also launched its liquidity aggregation protocol, enabling better developer access to deep liquidity within the TON network.
“It saves time, cuts down on overhead, and helps projects reach more users — without needing to rely on third-party aggregators,” Baranov explained.
STON.fi’s growth has been rapid. Total swap volume surged from $608M in April 2024 to $5.8B in April 2025, with unique wallets growing from 277K to 4.7 million. At its peak in October 2024, over 1 million wallets used the platform in just 30 days, ranking it 5th globally among all DEXs by user count.
Scaling the Team, Weathering the Surge
STON.fi’s evolution isn’t just visible in its product; it’s reflected in the growth of the team behind it. In late 2023, the company was operating with just 19 members. Today, the headcount has climbed to 50, marking a significant shift in just over a year.
Much of that growth has happened in engineering.
“Our development team grew from 11 engineers at the end of 2023 to 30 today,” shared Baranov. “It’s allowed us to move much faster on both core protocol improvements and new products like Omniston.”
The marketing arm of STON.fi also expanded from just three people to ten, giving the team more strength to build community, reach new users, and support the growing ecosystem of creators building on TON.
But expansion hasn’t come without its challenges.
In early 2024, STON.fi faced a rapid spike in traffic — a 100x jump in just six weeks.
“It was exciting… but honestly, also a bit overwhelming,” Baranov admitted.
“We had to act quickly. We launched more servers, boosted our bandwidth, and scaled up our blockchain nodes, which were really starting to feel the pressure.”
Despite the strain, the team pulled through without downtime or partner fallout. Instead, they gained more users.
“Looking back, I’m really glad we built STON.fi with the future in mind,” said Baranov. “When we launched in 2022, we had just a few hundred users. But we always believed we were building for something much bigger.”
What’s Next for STON.fi
When asked about the plan down the line, Baranov stated that in the short term, the company’s focus is all about expanding the impact of what they’ve already built.
That includes increasing the adoption of Omniston, the protocol STON.fi launched to unify fragmented liquidity on the TON blockchain. The team is now working to integrate it across all DeFi apps within the TON ecosystem — and is already planning expansion to one or two additional blockchains.
“That cross-chain step will make it easier for users, developers, and liquidity providers to access a smoother, more connected DeFi experience,” Baranov added.
The company is also preparing to roll out its own DAO — a step toward more decentralized governance and deeper community involvement. Meanwhile, on the product front, STON.fi V3 is underway. The update will include concentrated liquidity pools aimed at significantly improving capital efficiency for both users and liquidity providers.
But the roadmap goes beyond immediate upgrades. Long-term, STON.fi envisions becoming a core liquidity engine for Web3.
“We’re building a fully cross-chain platform that unites deep liquidity from across the whole DeFi ecosystem,” Baranov said.
“Our goal is to turn STON.fi and Omniston into the engine that powers liquidity across Web3.”
This future-focused mindset is closely tied to the company’s culture, one that emphasizes openness, ownership, and collaboration. Many team members are DeFi users themselves, which brings a practical understanding to product development.
“Ultimately, we believe that transparency, trust, and shared ownership should define the future of finance — and we’re building a team culture that reflects exactly that,” said Baranov.
Lessons from the Founder’s Playbook
As the conversation came to a close, Slavik Baranov reflected on his journey building STON.fi and the insights he’s gathered along the way. His message to aspiring entrepreneurs was clear: belief in your vision is critical, but so is the ability to adapt.
“In crypto, the space moves fast and the road isn’t always smooth,” Baranov shared. “There will be moments when things get tough, when no one understands what you’re trying to do… That’s where dedication matters most.”
STON.fi itself has faced unpredictable moments — from growth spurts to strategic pivots — that required quick thinking and bold decisions. Baranov emphasized that while staying focused is key, flexibility is often what separates those who scale from those who stall.
“We’ve had moments where, within 3 days, we completely rewrote our product development roadmap,” he said.
Another critical learning? Staying connected to the community. Much of the platform’s development was shaped not just by internal strategy, but by real user feedback.
“Some of our best ideas didn’t come from strategy decks — they came from Telegram chats at 2 AM,” he noted.
And at the heart of it all is team dynamics.
“Startups are intense,” Baranov added.
“If you’re going to spend years building something from scratch, it better be with people who inspire you and who you trust.”
With a grounded philosophy and a clear sense of purpose, STON.fi’s journey offers more than a playbook — it’s a firsthand look at building in Web3 from the ground up.
Edited by Harshajit Sarmah
