STON.fi Dev Raises $9.5M Series A Led by Ribbit Capital CoinFund to Expand TON DeFi Ecosystem

STON.fi Dev, the core development team behind the leading decentralized exchange (DEX) on the TON blockchain, has secured $9.5 million in a Series A funding round led by Ribbit Capital and CoinFund [1]. The investment underscores growing confidence in decentralized finance (DeFi) on TON, with the protocol positioned to expand cross-chain solutions and enhance liquidity infrastructure. STON.fi has already facilitated over $6 billion in trading volume across 27 million transactions since its November 2022 launch, capturing ~80% of TON’s trading activity and ranking 1 on the blockchain by unique active wallets [1].

The funding will prioritize developing concentrated liquidity pools, native limit orders, and a community governance layer to improve capital efficiency and user experience. Additionally, STON.fi aims to advance its cross-chain capabilities through Omniston, a liquidity aggregation protocol enabling bridge-free swaps across multiple blockchains. These innovations align with the protocol’s goal of creating a unified DeFi ecosystem [1].

Slavik Baranov, CEO of STON.fi Dev, emphasized the round’s significance, calling it “a strong vote of confidence from visionary investors” and a validation of the team’s focus on building “products that matter.” Alex Felix, CIO of CoinFund, highlighted STON.fi’s role as a “gravitational center” of TON’s DeFi activity, noting its potential to redefine infrastructure at scale [1].

The protocol’s dominance is evident in its total value locked (TVL) and trading volume metrics, with deep integrations into Telegram-native wallets and TON-based tokens. Its user base benefits from features like token swaps, liquidity provision, and yield farming, while developers leverage its open architecture for innovation. The Series A funding accelerates these efforts, enabling STON.fi to address scalability and interoperability challenges critical to DeFi’s next phase [1].

Backed by investors including Delphi Ventures and TON Ventures, STON.fi Dev operates as an independent entity guided by community-driven development. The investment not only solidifies its position as a foundational layer for TON’s DeFi ecosystem but also positions it to influence cross-chain standards in decentralized finance [1].

Sources:

[1] STON.fi Dev Raises $9.5M Series A to Scale DeFi on TON — https://dailyhodl.com/2025/07/30/ston-fi-dev-raises-9-5m-series-a-to-scale-defi-on-ton/