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Torch Finance Review 2026: TON Stablecoin Swap DEX

Torch Finance is a stablecoin-focused DEX on TON that pairs low-slippage StableSwap pools with a yield-generating Telegram USD. It is a niche, small-TVL venue best suited to TON stablecoin traders.

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

6.5/10

Good

Visit Torch Dexs

Our verdict on Torch Dexs

6.5/10

Torch Finance suits TON users who want to swap or hold stablecoins with low slippage, especially inside the Telegram ecosystem. Its main strengths are the StableSwap design, the stated Curve Finance link and a listed audit. The main caveats are small TVL of around $388,000, unpublished fee figures and a PayFi product that is not yet live. Check the audit report and start small.

Score breakdown

How Torch Dexs scores

Security: 6.0/10
Ease of use: 7.0/10
Fees: n/a
Features: 6.5/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Torch Dexs?

Torch Finance is a decentralized exchange on the TON blockchain that calls itself a Liquid Stables Hub. Its core product is a StableSwap engine for low-slippage stablecoin trading, alongside weighted pools that offer deeper liquidity within the same DEX.

The project says it is backed by Curve Finance and presents itself as an official TVM partner of Curve Finance. It also offers Telegram USD (tgUSD), a yield-generating stablecoin aimed at users in the Telegram ecosystem, and lists a PayFi product as coming soon.

DefiLlama has tracked it since September 2024 and shows about $388,000 in TVL on TON, down 1.8% over seven days. That is a small base, so Torch Finance is better seen as a specialist venue than a major liquidity hub.

How Torch Dexs works

Torch Finance is an automated market maker. Instead of an order book, traders swap against pools of tokens that liquidity providers fund. Prices are set by a formula based on the pool balances.

StableSwap pools use a curve designed for assets meant to trade near the same price, such as stablecoins. This keeps the price flat across a wide range, so large swaps move the rate much less than in a standard pool. Weighted pools use different ratios between assets and give deeper liquidity for less closely pegged tokens.

Liquidity providers deposit tokens into pools and earn a share of trading fees. The project also offers Telegram USD, described as a yield-generating stablecoin for Telegram users, and lists PayFi as an upcoming product on the TON Virtual Machine.

6 features

Key features

StableSwap pools

Pools for assets with similar prices, designed to keep slippage very low when swapping stablecoins.

Weighted pools

Pools that support deeper liquidity for a wider mix of assets, available within the same DEX.

Telegram USD (tgUSD)

A yield-generating stablecoin, tgUSD, aimed at Telegram users.

Curve Finance link

The project describes itself as an official TVM partner of Curve Finance and as backed by Curve Finance.

Modular, composable design

The homepage describes a plug-and-play system meant to be composable with other DeFi applications on TON.

PayFi (planned)

A planned product described as bringing the time value of money to the TON Virtual Machine. It is listed as coming soon.

Pros and cons

What we like

Stablecoin-focused StableSwap design aims for low slippage
Weighted pools add a second pool type in the same DEX
Stated link to Curve Finance technology and backing
Targets the Telegram and TON user base with tgUSD
One audit is listed and the homepage emphasises security
Modular, composable design intended for integration with other TON apps

Watch out for

TVL is small, at roughly $388,000, which can limit depth for larger trades
Limited to the TON blockchain, so it is of no use for assets on other networks
The PayFi product is marked coming soon and is not yet available
Fees are not published on the homepage, so users cannot compare costs ahead of time
The audit is listed but the auditor and report details are not shown
Team and governance details are not published on the homepage

Torch Dexs fees

Torch Finance does not publish specific swap fee figures on its homepage. It says only that exchanging has low slippage and fees.

Swap fees and any liquidity provider fees are normally shown in the app before a trade or deposit is confirmed. Check the quoted fee, the expected output and the TON network gas cost before signing any transaction.

Is Torch Dexs safe?

One audit is listed for the project and the homepage says it is audited, but the auditor and report are not detailed. Read the report and note which contracts and versions it covered. The project does not publish team or governance details on the homepage.

As with any DEX, risks include smart-contract bugs, stablecoin depeg events and impermanent loss for liquidity providers. Trades are self-custodial through a wallet, so users keep control of keys but are responsible for approving transactions carefully. Small TVL means a single large position can move pools noticeably.

6 steps

How to get started with Torch Dexs

1
Install a TON-compatible wallet and fund it with TON for network gas.
2
Open the official Torch Finance site and use the Launch App button.
3
Connect your wallet and review the available StableSwap and weighted pools.
4
Check the quoted rate, fees and expected slippage on a small swap first.
5
Read the audit information and project documentation before adding liquidity or holding tgUSD.
6
Start with an amount you can afford to lose, since smart-contract risk is never zero.

Open Torch Dexs

Who Torch Dexs is for

Torch Finance is for TON users who trade or hold stablecoins and want low slippage, as well as liquidity providers comfortable with a small, specialised venue. It is less suited to people who need deep liquidity for large trades or a broad range of assets across several chains.

Torch Dexs FAQs

What is Torch Finance?

Torch Finance is a decentralized exchange on the TON blockchain focused on stablecoin trading. It offers StableSwap pools designed for low slippage and weighted pools for deeper liquidity, and it also promotes a yield-generating stablecoin called Telegram USD (tgUSD).

Which blockchain does Torch Finance use?

It runs on TON. The homepage positions it for the Telegram ecosystem, which is built around TON.

Is Torch Finance connected to Curve Finance?

The project describes itself as backed by Curve Finance and as an official TVM partner of Curve Finance. Details of the arrangement are not set out in its homepage, so check the project's own documentation for specifics.

Is Torch Finance audited?

The homepage says it is audited and DefiLlama lists one audit. The auditor, scope and findings are not shown, so read the audit report itself before depositing funds.

Does Torch Finance have a token?

The project does not publish a token ticker, and DefiLlama lists no token for it. Be cautious of any token claiming to be a Torch Finance token without confirmation from official channels.

What is PayFi on Torch Finance?

The homepage lists PayFi as coming soon, described as bringing the time value of money to the TON Virtual Machine. No launch date or details are given.

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