Chorus One Launches TON Pool Dapp After Successful Audit

Chorus One, a seasoned provider of institutional-grade staking services for over 60 Proof-of-Stake (PoS) blockchain networks, has announced the launch of its TON Pool Dapp following a successful smart contract audit by Spearbit. The TON Pool Dapp is designed to make Toncoin staking more accessible and user-friendly for all investors.

The TON Pool, which was launched in the fourth quarter of 2024, has already accumulated a total value locked (TVL) of 10.7 million Toncoins, valued at over $31 million. This significant growth underscores the increasing interest and trust in the TON ecosystem. Chorus One has prioritized security to ensure a seamless and secure staking experience, especially for institutional investors. The blockchain technology, still in its nascent stages, presents various security challenges, including the presence of malicious actors globally.

To address these security concerns, Chorus One collaborated with Spearbit, a leading web3 security firm. The Spearbit team conducted a thorough analysis of the TON Pool smart contracts, identifying two critical vulnerabilities. The first vulnerability, known as the pool locking error, could lead to an inconsistent contract state, potentially making users' funds inaccessible indefinitely. The second vulnerability, the pool draining error, could be exploited by attackers to siphon users' funds.

Both vulnerabilities were successfully mitigated in the Chorus One’s TON Pool, ensuring the safety of users' funds. However, these issues remain unaddressed in the original Ton Whales contract, posing a risk to users staking with Ton Whales. The Chorus One team emphasized the importance of these mitigations, noting that users staking with Ton Whales should be aware of the potential risks to their stakes.

Following the successful audit, Chorus One unveiled the next phase of its platform with the launch of the TON Pool Dapp on July 10. This new product is designed to simplify the staking process, allowing users to stake a minimum of 10 TON. The TON Pool Dapp enables users to connect their wallets through TONConnect, offering up to 5 percent APY with automated delegation. This development is part of Chorus One's commitment to building products that enhance the mainstream adoption of digital assets, making staking more accessible and secure for all users.