Tonstakers LSD Review 2026: Liquid Staking on TON

Tonstakers is a liquid staking protocol on The Open Network (TON). DefiLlama describes it as a liquid staking protocol empowering the TON DeFi ecosystem and has tracked it since September 2023. It currently shows about $175.5M in total value locked, with a 3.9% decline over the past week.

The homepage calls it the largest liquid staking protocol on TON by TVL, with 20+ Web3 integrations, a native presence in Telegram, and users in 166+ countries. User numbers vary between sections, from 'over 100,000' to '130,000+'. These are self-reported figures and are not independently verified here.

The pitch is simple: stake GRAM (the site's name for what was Toncoin), get tsTON, and put that token to work in TON DeFi. The site also offers staking for businesses, validator and vesting pages, and special terms for large clients.

You deposit GRAM into the Tonstakers contracts, which stake it with validators on TON. In return you receive tsTON, a token representing your share of the staked pool. Rewards accrue to the pool and are compounded automatically, according to the site about every 18 hours, so the value of tsTON rises relative to GRAM over time.

Because tsTON is a normal token, it can be used elsewhere while the underlying GRAM keeps earning. The homepage lists three uses: supplying tsTON as collateral to borrow assets, looping it to borrow and stake more GRAM, and providing it to DEX liquidity pools for trading fees and incentives.

When you want out, you redeem tsTON for GRAM. The site says this takes minutes and that the protocol is non-custodial. Exact redemption mechanics are not described in its homepage reviewed.

Fees are not published in the material reviewed. The homepage does not state a protocol fee, a share of rewards taken, or withdrawal costs. Users would need to check the app, the FAQ and the protocol overview for those details.

Two costs are mentioned: you must hold at least 1 GRAM to pay network transaction fees, and using tsTON in other DeFi protocols may carry their own fees. The advertised APY is described as compounded and as 'up to' 21%, so net returns may differ.

The homepage links to an audit report and a bug bounty program and describes the protocol as non-custodial. However, DefiLlama lists zero audits for it. The audit auditor, scope and findings are not in the material reviewed, so read the report directly. Claims such as 'safest yield solution' and 'zero DeFi exposure' are marketing statements.

Liquid staking carries smart-contract risk, validator risk and the risk that tsTON trades below the value of the GRAM it represents. Using tsTON for leveraged staking, borrowing or liquidity provision adds liquidation and third-party protocol risk. No hack or incident is mentioned publicly, and none should be assumed either way. This is not financial advice.

Tonstakers is for GRAM holders who want to earn staking rewards while keeping a liquid token, and for users already active in TON DeFi who may want to use tsTON as collateral or liquidity. It is less suited to anyone who wants fully published fee terms before committing, or who cannot tolerate smart-contract risk.