While all attention in $TON is focused on new tokens and trading bots, many have somehow forgotten that the main returns in DeFi still lie in liquidity pools. And right now, they look much more interesting than they did a couple of months ago. For example:

— TRAIN/USDT — APR around 115%

— FRT/TON — APR ~73%

— PX/TON — APR ~28%

And these are no longer the astronomical percentages from early DeFi, which were based on empty volumes. Now, APR is formed by real trading activity: the more swaps pass through the pool, the higher the commissions that are distributed among liquidity providers.

At the same time, the pools themselves are increasingly being used as the basic exchange route within the ecosystem. Many transactions that go through wallet interfaces or mini-apps are actually executed through AMM mechanics, but the user does not see this. Liquidity from the pools is automatically substituted for the exchange made by the user.

In $TON , this is especially noticeable on DEXs such as STONfi and DeDust, where a significant portion of the turnover goes through such pairs. The more actively a particular token is traded, the heavier the load on the corresponding pool, and the higher its actual utility becomes.