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How Jettons are Launched Today
Here is how a typical jetton launch process on TON looks like.
First, a token creator needs to deploy a token, then create a wallet where other users can send TONs to buy the token during a pre-sale campaign. Pre-sales are usually capped, so the excess of TONs have to be manually refunded. Next a user needs to mint jettons, deploy a DEX pool and provide liquidity so the new jetton can be traded. Note that a user needs to use several different tools and websites to perform these steps.
Problems
There are two main problems connected with how most jettons are launched today:
- Launching a jetton is a complex, multi-step, manual process that is prone to errors.
While launching a jetton, a token creator has to complete up to 9 different steps and use more than 3 different websites and tools. They have to be tech savvy to understand well what happens on every step. Otherwise, a single mistake can lead to the loss of funds or an incorrect token price at launch.
With Polyton, a user can launch new jettons with one click and all the steps are fully automated.
- Many token launches suffer from scams (rug-pulls), lack transparency and fairness.
Today the process of buying a token requires users to take a lot unnecessary risks:
- Many jettons are launched via a pre-sale, which is a simple transfer of funds to the seller’s wallet. There is no guarantee that the token will be launched or that the buyers will be refunded.
- Buyers have to trust the token creator to renounce their admin rights. If they don’t, more jettons can be minted and dumped in the open market.
- Buyers have to trust the token creator to lock the liquidity in the DEX pool. If the liquidity is not locked, they can withdraw all the liquidity at any moment.
- There is no locking/vesting mechanism that prevents a token creator from selling their tokens immediately after the launch.
- There is no reliable source where users can obtain information about the tokenomics of the jetton: how many jettons are sold, how many would go into the liquidity pool, how much is reserved for the token author
- Sniper bots can buy tokens instantly after they launch and then dump them on the next buyer, thus having an unfair advantage over the regular users.
As a result, many TON users fall victim to dishonest token creators. This damages the reputation of TON, hinders its TVL growth and hurts many legitimate projects and honest token creators who find it harder to bootstrap a token on TON.
Polyton eliminates these risks by delegating the control over every step of the jetton launch to the smart contracts.
Our Solution
Polyton is a Telegram mini-app that automates every step of a new jetton launch. With Polyton, the entire process is executed by smart contracts: from creating a token to pre-sale to deploying liquidity to a DEX pool. Our MVP implements the widely used pre-sale mechanism on TON: soft/hard cap sale.
Because every stage is fully automated and happens on-chain, launching a jetton becomes simple, transparent, error-free and protected from scams (rug-pulls and snipping). As a result, Polyton helps to increase TVL, grow the DeFi ecosystem, reduce fraud and improve user experience on TON.
Polyton address several critical pain points of the TON DeFi ecosystem:
- Accessibility, Fairness and Transparency: Polyton mitigates the problem of “honeypot” contracts and rugpulls by providing verified contracts and locking/vesting features. Our launchpad will prevent “snipping” and ensure fair token distribution mechanisms.
- Intuitive user experience: By designing a simple and intuitive Telegram mini-app with clear navigation and instructions, non-tech-savvy users can easily create their own jetton or participate in jetton launches without feeling overwhelmed by technical jargon or complex procedures
- Social Media Integration and Viral Distribution: The success of tokens often hinges on their ability to generate buzz and viral momentum across social media platforms. By integrating features such as direct sharing of token pages and referral incentives, our platform can incentivize users to actively promote tokens within their social networks, fostering organic growth and community-driven adoption.