[TEP-102] Establishing a Universal Wrapped TON Standard for Unified Asset Interaction

Application Jetton
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Introduction

The evolution of the TON blockchain ecosystem has led to the development of various asset standards, notably TEP-74 and TEP-89, which govern the creation and interaction of jettons. However, the interaction between the native TON currency and these jettons remains fragmented due to the lack of a universally adopted mechanism for wrapping TON (WTON). This document proposes a standardized, secure, and efficient implementation of a Wrapped TON (WTON) contract to facilitate seamless interaction between TON and jettons, thereby unifying asset interaction within the TON ecosystem.

Motivation

The primary motivation behind the introduction of a universal WTON is to streamline and unify asset interactions on the TON blockchain. Currently, the existence of multiple wrapped TON implementations, such as wTON and jTON, poses significant risks including financial vulnerabilities, ecosystem fragmentation, and inconsistency in features. A universally adopted WTON standard addresses these concerns by providing a single, secure, and consistent API for developers, reducing financial risks, and ensuring feature parity across the ecosystem.

Implementation Overview

The proposed WTON implementation is based on the TEP-89 standard but introduces additional logic for transaction pipelines during minting (wrapping) and burning (unwrapping) processes. This implementation enables users to wrap TON into WTON and vice versa with enhanced security and efficiency. The core functionalities of this implementation include:

  • Wrapping: Securely locks TON 1-to-1 on mint, allowing for transaction pipelines through forward_amount and forward_payload.
  • Unwrapping: Releases TON on burn, with provisions for custom payloads to facilitate extended interactions.

Technical Specification

The WTON contract adheres to the TEP-74 and TEP-89 standards, incorporating specific operations for enhanced functionality. These operations include burn_notification_ext, mint, and release, designed to support complex transaction sequences and ensure secure and efficient interaction with jettons.

Wrapping and Unwrapping Process

The process of wrapping and unwrapping TON involves a series of steps designed to ensure security, efficiency, and user convenience. These steps include validation checks, transaction pipeline construction, and adherence to minimal balance requirements. The implementation facilitates the seamless transition of TON to WTON and vice versa, leveraging the capabilities of the TON blockchain for broader asset interactions.

Comparative Analysis

The proposed WTON implementation offers several advantages over existing approaches, including the reduction of transaction complexity, cost savings through the avoidance of multiple contract interactions, and the provision of a unified API for asset interaction. A comparative analysis with alternative approaches, such as direct use of TEP-74/TEP-89 standards without modifications, reveals the superiority of the proposed standard in terms of efficiency, security, and user experience.

Conclusion

The introduction of a universal Wrapped TON standard represents a significant advancement in the unification of asset interactions within the TON blockchain ecosystem. By adopting a secure, efficient, and universally compatible WTON implementation, developers and users alike can benefit from streamlined transactions, reduced financial risks, and a cohesive ecosystem experience. The proposed standard not only addresses the current challenges of asset interaction but also lays the foundation for future innovations and integrations within the TON ecosystem.