What Is the Jetton Token Standard? A Beginner’s Guide

The Open Network (TON) blockchain, originally developed by Telegram, is a high-performance blockchain designed to handle mass-scale applications and transactions. TON aims to create a decentralized ecosystem that supports a wide range of services, from financial applications to decentralized storage and DNS services. 

 

Jetton tokens are a new addition to the TON blockchain. They function similarly to ERC-20 tokens on Ethereum, allowing users to create their own custom cryptocurrencies. These tokens are important because they enable developers to build complex decentralized applications (dApps) and economic models directly on the TON blockchain, enhancing its utility and adoption.

 

Jetton tokens are custom cryptocurrencies created on the TON (The Open Network) blockchain. These tokens are built using smart contracts on the TON blockchain, providing flexibility and enhanced functionality within the ecosystem.

 

Jetton tokens are fungible, meaning each token is identical in value and can be exchanged or replaced with another token of the same type without any difference in value or functionality. This is similar to how traditional currencies or Ethereum's ERC-20 tokens operate, where one token is equivalent to another in the same series.

 

Jetton vs. ERC-20 Tokens 

• Jetton Tokens: Operate on the TON blockchain, using smart contracts that manage each token individually. Jettons are designed to work seamlessly with TON's advanced features like sharding and asynchronous message delivery.

• ERC-20 Tokens: Operate on the Ethereum blockchain, with all balances managed by a single smart contract. ERC-20 tokens are widely used and integrated across numerous dApps and platforms.

How Jetton tokens work on The Open Network (TON) | Source: TON Docs 

 

Jetton tokens provide a robust and flexible framework for creating and managing digital assets on the TON blockchain. This enhances the utility and scalability of the TON ecosystem, making it a powerful tool for developers and users alike. Here’s a look at the technical aspects of Jetton tokens on the TON network: 

 

1. Jetton Master Smart Contracts: The Jetton master smart contract manages the overall information of the token, including the total supply, metadata, and administrative details. It ensures that all Jetton tokens adhere to the specified parameters and standards, providing a reliable foundation for token operations.

2. Jetton Wallet Smart Contracts: Jetton wallet smart contracts handle individual balances and transactions. Each user’s Jetton balance is stored in a separate smart contract, which interacts with other contracts for transactions, subscriptions, and more. This decentralized approach enhances security and flexibility.

3. Managing Jetton Balances and Wallets: Jetton balances and wallets are managed through smart contracts that store user balances and transaction histories. Interfaces like tonscan.org display these balances, providing users with a clear overview of their assets. Each Jetton wallet has a unique address, ensuring secure and traceable transactions.

4. Transfer Mechanisms: Jetton tokens use a unique transfer mechanism where the sender’s Jetton wallet sends a message to the recipient’s wallet to update balances. This process includes transfer notifications and excess messages. Transfer notifications inform the recipient of the incoming Jettons, while excess messages handle any leftover TON used for transaction fees. This ensures efficient and secure token transfers within the network. 

The following tokens showcase the versatility and potential of the Jetton standard on the TON blockchain, offering diverse applications from gaming and community projects to decentralized finance. Each token leverages the unique features of the TON blockchain to provide value and utility to its users.

 

1. JetTon Games (JETTON)

 

JetTon Games is a gaming platform that utilizes its native JETTON token for various in-game activities. Players use JETTON for betting, participating in games, and earning rewards. The token is integrated with NFTs and a unique affiliate program that rewards users for referring new players. This makes JetTon Games not only a gaming platform but also a community-driven ecosystem focused on engagement and transparency.

 

2. Gram (GRAM) 

 

GRAM is one of the widely recognized Jetton tokens on the TON network. It facilitates transactions within the TON ecosystem and is often used in various dApps for payments and transfers. The token benefits from the high-speed and low-fee transactions of the TON blockchain, making it a popular choice for everyday use.

 

3. The Resistance Cat ($RECA) 

 

The Resistance Cat is a community-focused token designed to support and promote decentralized initiatives on the TON blockchain. It has gained popularity due to its vibrant community and unique marketing campaigns. The token is used for various community-driven projects and events, fostering a sense of ownership and participation among its holders. 

 

4. ARBUZ (ARBUZ)

 

ARBUZ is a meme token used within the TON network for various applications, including decentralized finance (DeFi) projects. It is designed to provide liquidity and facilitate transactions within these projects, helping to drive the growth of the TON DeFi ecosystem. The token is known for its stability and reliability, making it a trusted asset among users. 

 

The process of creating Jetton tokens is similar to creating ERC-20 tokens on Ethereum, involving the deployment of smart contracts to manage token issuance and transfers. TON's advanced features, such as sharding and asynchronous message delivery, provide a more scalable and efficient environment for Jetton tokens compared to Ethereum's single-chain structure. Additionally, TON offers a higher transaction speed and lower fees. 

 

Creating Jetton tokens on the TON blockchain is a straightforward process. Here’s a step-by-step guide on Jetton token minting: 

 

Step 1: Set Up Your TON Wallet

Download a TON wallet, such as MyTonWallet or Tonkeeper, and create your address. Ensure you have sufficient TON coins (typically up to 10 TON) to pay the minting fees. 

 

Step 2: Access the Minter 

Visit the TON Minter website where you will create your digital asset. Connect your wallet to the minter interface.

 

How to mint your Jetton token | Souce: TON Docs

 

Step 3: Configure Your Token 

Enter the details of your token, including the name, ticker, number of decimal places, logo, and the total supply. Optionally, add a description or comment about the token. 

 

Configure your Jetton token | Source: TON Docs 

 

Step 4: Deploy the Smart Contract

Click the "Connect Wallet" button and confirm the creation by clicking the "Deploy" button. Wait for the confirmation, and your Jetton will be created and visible on the TON explorer. 

 

Transfer your Jetton token via a TON wallet | Source: TON Docs 

 

Required Smart Contracts and Technical Specifications

• Jetton Master Contract: Manages the overall information of the token, including the total supply and metadata.

• Jetton Wallet Contracts: Handle the individual balances and transfers of the tokens.

• Data Storage: Utilizes the Cell data structure for efficient storage and access. 

Jetton tokens offer diverse applications within the TON ecosystem, making them versatile and valuable. Here are some key use cases:

 

1. Stablecoins: Jetton tokens can be used to create stablecoins, which are digital currencies pegged to stable financial instruments like the USD. This makes them ideal for everyday transactions and hedging against volatility. For instance, Tether (USDT) on TON allows seamless value transfers with minimal fees, enhancing liquidity and transaction efficiency within the ecosystem. 

2. Decentralized Exchanges (DEXs): Jettons play a crucial role in decentralized exchanges on the TON blockchain. These DEXs enable users to trade tokens directly on the blockchain without intermediaries, reducing the risk of fraud and enhancing privacy. For example, STON.fi is a DeFi project that uses Jettons to facilitate decentralized trading, offering users a secure and efficient platform for exchanging cryptocurrencies. 

3. Economic Models and Crowdfunding: Jettons can be utilized to build entire economic models and crowdfunding projects. This application mirrors the ICO boom that brought blockchain technology into the mainstream. By creating their own Jetton tokens, projects can raise funds, incentivize participation, and develop innovative economic ecosystems. This attracts new users and investments, contributing to the growth and adoption of the TON blockchain. 

Watch out for these scams when you interact with Jetton tokens within the TON ecosystem: 

 

1. Fake Token Airdrops: Scammers often promise free tokens in exchange for your private keys or wallet information. Never share your private keys.

2. Counterfeit Tokens: Fraudsters create tokens that look identical to legitimate ones, using similar names and logos. Always verify the token’s contract address from official sources.

3. Phishing Attacks: You might receive emails or messages claiming to be from official platforms, asking you to click on links or provide sensitive information. Always check the sender's email address and avoid clicking on suspicious links. 

Best Practices to Avoid Scams

Stay safe from scams and have a safe experience on the TON blockchain by undertaking the following measures: 

 

1. Verify Contract Addresses: Always cross-check the token’s contract address with official announcements or the project’s website.

2. Use Reputable Wallets and Platforms: Stick to well-known and secure wallets like MyTonWallet or official exchanges to store and trade your Jettons.

3. Enable Two-Factor Authentication (2FA): Add an extra layer of security to your accounts by enabling 2FA where possible.

4. Stay Informed: Follow official channels and updates from the TON blockchain community to stay aware of the latest security practices and known scams. 

By following the practices listed above and using the right tools, you can ensure that your interactions with Jetton tokens on the TON blockchain are secure and informed. This enhances your ability to safely navigate and utilize the TON ecosystem.

 

Using Methods like get_jetton_data()

To retrieve detailed information about a Jetton token, you can use the get_jetton_data() method. This function will return key details such as the token’s total supply, mintability, and metadata. It is crucial for verifying the authenticity and specifications of a Jetton token.

 

Using the Toncenter API

The Toncenter API is a powerful tool for accessing and retrieving data on the TON blockchain. Here’s how you can use it:

 

1. API Endpoint: Access the appropriate endpoint, such as /runGetMethod, to call methods like get_jetton_data().

2. Parameters: Provide the necessary parameters, such as the contract address and method name.

3. Data Retrieval: The API will return the requested data, allowing you to verify and analyze the Jetton token's details.

Steps to Retrieve Data

1. Access the Contract: Use the Toncenter API or similar tools to interact with the smart contract.

2. Run the Method: Execute the get_jetton_data() method to obtain the token's information. This might include the total supply, admin address, and any relevant metadata.

Other Tools for Jetton Data Retrieval

• TON Explorer: Use tools like tonscan.org to view detailed information about Jetton tokens, including balances and transaction histories.

• Wallet Interfaces: Many wallets provide built-in tools to view and manage Jetton tokens, ensuring you have access to real-time data and secure transactions.

Future developments in the Jetton standard aim to increase functionality and interoperability within the TON ecosystem. One significant enhancement is the introduction of discoverable Jetton wallet addresses. This feature allows applications to easily find and interact with specific Jetton wallets, making the management of tokens more seamless and efficient. Additionally, future updates may focus on incorporating external message tokens, which could further expand the use cases and flexibility of Jetton tokens. 

 

These enhancements will significantly benefit the TON blockchain. Developers can create more sophisticated and user-friendly applications by improving interoperability and simplifying token management. The discoverability feature will streamline interactions between decentralized applications and Jetton wallets, reducing the complexity for developers and enhancing user experience. These advancements will likely attract more developers and users to the TON ecosystem, fostering innovation and growth. 

 

Jetton tokens on the TON blockchain offer a robust framework for creating and managing custom cryptocurrencies. They provide numerous applications, from stablecoins and decentralized exchanges to innovative economic models. The technical aspects of Jetton tokens, including master and wallet smart contracts, ensure secure and efficient token management.

 

As the Jetton standard evolves, future enhancements like discoverable wallet addresses and external message tokens will further strengthen the TON ecosystem, making it a more attractive platform for developers and users. Explore Jetton tokens to leverage their potential in your blockchain projects, and stay updated with ongoing developments to make the most of this versatile technology.

 

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