Thank you for choosing SafePal!
The Open Network is impressive with its technical and innovative approaches. Its tremendous transaction speed, combined with a focus on privacy, attracts millions of users and developers from around the world to join the blockchain revolution.
In this article we will delve into the features of tokens issued on the TON blockchain and learn how to use them with SafePal wallet.
This article contains the following sections:
- What is Open Network and TON blockchain?
- What are Jettons on the TON blockchain?
- How to obtain the Jettons tokens?
- What is the $USDT(Toncoin) token?
- How to secure the Jettons token with SafePal wallet
- How to secure the $USDT token with SafePal wallet
What is Open Network and TON blockchain?
The Open Network (TON) is a decentralized and open internet platform made up of several components. These include: TON Blockchain, TON DNS, TON Storage, and TON Sites. TON Blockchain is the core protocol that connects TON’s underlying infrastructure together to form the greater TON Ecosystem.
TON Blockchain is designed as a distributed supercomputer, or “superserver,” intended to provide a variety of products and services to contribute to the development of the decentralized vision for the new internet.
What is Jettons token on the TON blockchain?
Jettons, a digital token standard on the TON (The Open Network) blockchain, is specifically created to streamline the generation and exchange of tokens within the TON ecosystem. Unlike conventional cryptocurrencies, Jettons empower users and developers to create custom tokens representing a diverse array of assets or values, offering a versatile tool for decentralized finance (DeFi), gaming, and various other applications. This standard seamlessly integrates with smart contracts and decentralized applications on the TON platform, enabling efficient, secure, and scalable token transactions.
Jetton's design highlights the TON blockchain's adaptability to a broad spectrum of use cases, fostering innovation and expansion in the digital asset realm.
Learn more about the TOP Jettons:
- Stablecoin oUSDC
- Stablecoin USDT
- Jetton Lavandos
How to obtain the Jettons tokens?
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 at the beginning of their journey and are generously distributing tokens to attract an audience. You can also try your luck and participate in these giveaways.
-
Receiving transfers: If you have obtained tokens through an exchange or trading platform, you can easily transfer them to your SafePal Wallet.
-
Buying Jetton with a credit card: A quick and convenient method to acquire the desired Jetton or Toncoin without investing much time and effort.
-
Swaps: For users who already have Toncoins or other Jettons in their wallet, swapping them for the desired Jetton is a simple process that only takes a couple of clicks.
What is the $USDT(Toncoin) token?
Tether, widely recognized by its symbol USDt, is the most extensively used stablecoin in the cryptocurrency market. It boasts an impressive daily trading volume exceeding $85 billion and a total market capitalization surpassing $106 billion. Each USDt token is directly pegged to the US dollar at a 1:1 ratio and fully backed by Tether's reserves, ensuring its stable value. This stability is crucial as it distinguishes the US dollar-backed coin from more volatile cryptocurrencies, making it an essential tool for everyday transactions, trading, remittances, and asset protection against the common fluctuations in the digital currency market. The inherent stability of USDt makes it the preferred medium for various financial activities, including trading platforms, decentralized finance (DeFi), and peer-to-peer transactions. Previously, USDt lacked a distribution platform that could truly simplify and globalize payments for a broad user base. Its recent integration with TON addresses this gap, providing an easily navigable, globally accessible payment experience with the potential to reach millions of people.
Integrating USDt with TON and its native Wallet in Telegram significantly enhances the user experience for the TON community. This integration allows USDt to operate as a native stablecoin within the TON ecosystem, enabling users to send USDt to anyone globally through Telegram at no cost. Unlike other on-chain wallets that might involve additional fees, transactions within the TON ecosystem are free of hidden charges, with users only responsible for nominal network fees. Soon, they’ll also have the option to cover on-chain gas fees using USDt-TON, further streamlining the process.
This development is particularly advantageous for those new to cryptocurrencies. USDt on TON serves as a welcoming gateway, merging the benefits of digital currencies with the stability of traditional fiat currencies.
How to secure the Jettons token with SafePal wallet
SafePal wallet has supported the Jetton tokens, and this article will provide a briefly guideline on how to secure the Jetton token with SafePal software wallet, here we will utlize the $NOT token as an example.
a) Add the $NOT token
Launch your SafePal App, click the icon with the three dots, then click ‘Manage Coins’ on the App homepage.
Click the ‘Query’ icon or the blank field after the button, then enter the coin/token name that you would like to add. Here we will search NOT token on the TON blockchain, and tog on the button at the rightmost of the token.
A notification ‘Added’ will pop up for a short while to indicate the Token is successfully added. You will then be able to check and find the $NOT(Toncoin) token in the Asset list.
b) Receive the $NOT tokens
Click on the coin that you want to receive, and click ‘Receive’.
Copy or share the wallet address with your friends, then you can start to receive the $NOT(Toncoin) tokens using the address!
Note: Please do check and ensure that all the addresses/memos (if needed)/networks are correct when you transfer or receive a cryptocurrency. It is recommended to send a small amount first as a test before transferring the remaining amount, thus preventing huge losses due to human errors.
c) Send out the $NOT(Toncoin) coins
Click on the $NOT token that you want to send out, and click ‘Send’.
Enter the recipient address and the amount of the transaction, and click 'Next'.
Since blockchain transfers are irreversible, double-check all the transfer details to avoid mistakes. Once you confirm the details, click 'Send' and enter the Security Password. For convenience, you can also enable fingerprint to sign the transfer.
Once the transfer is signed, it will be broadcast to the blockchain. You can check the status of the transfer in the SafePal wallet under your $NOT assest page and make sure it goes through successfully.
How to secure the $USDT token with SafePal wallet
SafePal wallet has also supported the $USDT(Toncoin) tokens, just like the $NOT token on the TON network in our SafePal wallet. To add, receive or send out the $USDT tokens in the SafePal wallet, you can refer to the steps in the last section, and the operation is also very simple and smooth!
