In this article I will break down the current situation with the tokenomics of the STON token and also answer the question: is it worth buying this token.
STON
Price: $0.87
Market Cap: $4M
FDV: $88M
Circulating Supply: 4.5M
Total Supply: 100M
Max Supply: 100M
STON TGE took place on June 28, 2023.
Vestingđ
According to CryptoRank, 52.4% of STON tokens are currently unlocked.
DAO Treasury (20%)
All tokens are marked as unlocked, but since TGE they have been locked in staking on STON.fi for 2 years. Will unlock on June 28, 2025.
Incentives (10%)
3.7% unlocked, 6.3% locked in 36-month vesting.
Marketing (10%)
6.96% unlocked, 3.04% locked in 12-month vesting.
Operations (10%)
6.24% unlocked, 3.76% locked in 36-month vesting.
Pre-seed + Private Sale (31%)
13.33% unlocked, 17.67% locked in 12-month vesting.
Team (14%)
All tokens locked. Vesting starts June 28, 2025 for 2 years.
Advisors (5%)
2.15% unlocked, 2.85% locked in 12-month vesting.
Circulating Supplyđ
STONâs circulating supply is only 4.5%, which is very small compared to 52.4% unlocked. The current price of $0.87 depends on the circulating supply, not the total amount of unlocked tokens.
If the circulating supply doubles, this will not affect market cap in any way, but it will affect the token price â STON will drop in price by half accordingly.
Because of this, being a holder of the STON token right now is extremely unprofitable, since from already unlocked tokens up to 47.9% could still enter the circulating supply. Of course, this wonât happen instantly â tokens will gradually be added over years, but you get the point.
If tokens are unlocked but not in circulating supply â it means they are simply lying on team wallets.
What can positively affect STONâs priceđ§?
Burningđ„
STON has a very large number of tokens, and itâs possible the team will run a few big burn events. This wonât affect market cap, but it will lower circulating supply, which increases token price and holder confidence.
STON.fi DAOđ„
To become part of STON.fi DAO, you need to stake STON tokens. The number of tokens you stake and the lock period will determine your voting power. This will positively affect the token, since users who want to participate in DAO will be buying and staking STON.
Currently, DAO is in development and the exact launch date is unknown. But in my opinion, it will happen next month or even earlier, since the DAO Treasury tokens â whose use is to be defined by DAO (info from the Whitepaper) â will be unlocked from staking on June 28, 2025.
Moreover, two months ago in an interview with Newzchain, STON.fi CEO Slavic Baranov mentioned work on launching the DAO.
Deflationary tokenomics modelđč
A deflationary model is the foundation of strong tokenomics. STON.fiâs model is described in the Whitepaper.
It says that the fees collected by STON.fi (apparently the 0.1% exchange fee, not the entire fee) will be converted into STON tokens, and part of those tokens will be burned.
Given the DEXâs large volume â $124M in May alone â the DEX collects 0.1% ($124K) in fees. So, if even 0.02% ($24,800) gets converted into STON and 0.01% ($12,400) is burned, that already gives a decent boost for the token.
And thatâs even considering the TON blockchain market isnât in the best condition right now.
When exactly the deflationary tokenomics will launch and how it will work â remains unknown.
Listings on CEXđ
Any listing of the STON token on CEX will positively affect the price, since it opens up the token to a new audience. For example, recently when STON was listed on KuCoin, the token jumped +15% in a single day.
OMNISTONđ
OMNISTON, besides being a liquidity aggregator on TON, is also expected to bring cross-chain swaps. The STON.fi Whitepaper says swaps between TON and other blockchains like TRON, Polygon, and others are planned.
Even though OMNISTON doesnât directly affect the STON token, it will bring lots of new liquidity from other blockchains to STON.fi, which, under the deflationary model, will positively impact the token.
Should you buy the STON tokenđ€?
In my opinion, there is no reason to buy the token right now. I would wait for the launch of the deflationary tokenomics model, and only after that make a decision.
