3. KTON Basics
3.1 What Is KTON?
- Liquid Staking Token (Jetton): A transferable representation of staked TON plus accrued rewards.
- 1 $KTON ≠ 1 TON: The exchange rate grows over time as validator rewards accumulate.
- ERC-20 Equivalent: Jettons follow the TIP-3 standard, the token interface for TON smart contracts.
3.2 How It Works
- Deposit TON into the pool via https://app.kton.io/ or the Telegram Mini App.
- Mint — The pool issues $KTON to your wallet proportional to your deposit divided by the current exchange rate.
- Earn — Validators generate rewards, increasing the exchange rate TON per KTON.
- Redeem or Swap — Burn $KTON to reclaim TON (with an optional instant-withdrawal fee) or trade on DEXs for immediate liquidity.
3.3 Key Metrics
| Metric |
Description |
| Total Value Locked (TVL) |
Total TON controlled by the pool. Visible on DefiLlama. |
| APY |
Annualised yield after fees. Target 8 % with MEV. |
| Exchange Rate |
TON per KTON. Starts at 1.0 and increases with rewards. |
| Instant Withdrawal Fee |
Dynamic fee applied when swapping $KTON→TON instantly. |
3.4 Contract Addresses
| Network |
Contract |
Address |
| TON Mainnet |
KTON Jetton Minter |
EQBuIhXNNkWf9AW9miNGNTSO_uFZ23ejfIWrieXge5f733mw |
| TON Mainnet |
Pool |
EQA9HwEZD_tONfVz6lJS0PVKR5viEiEGyj9AuQewGQVnXPg0 |
| TON Mainnet |
Controller |
Ef9GOR1wqJFPVpbHOxObSATkdbfTizRTmDi6DdjJFYaRKhoK |
| TON Mainnet |
Validator |
Uf_lhdKTXcTJUnCVWYWXaoziqxkkLl-8PBP0be601QkE9TyT |
Always verify addresses on-chain via TONScan before interacting.
3.5 Fees
- Protocol Fee: A DAO-governed share of validator rewards goes to the treasury.
- Instant Withdrawal Fee: Dynamic, governed by liquidity conditions.
3.6 Risks
- Validator Slashing: Mitigated by diversification and conservative staking thresholds.
- Smart-Contract Risk: Minimised through audits and formal verification.
- Peg Deviation: Liquidity pools help maintain a tight KTON↔TON peg, but extreme market conditions may widen spread.
Next: 4. Technical Architecture