TON Network Slashes Fees and Introduces Precompiled Contracts

This change, effective from April 16th, comes in response to the recent growth of the TON token.

It includes a special discount for Jetton-with-governance transactions such as $USDT. Let’s explore more about this important news for TON.

TON Network Implements Major Fee Cuts and Special Discounts

Initially, the fees for the first transaction involving Jetton-with-governance were reduced to 0.02 TON from 0.032 TON. Subsequent transactions now cost just 0.0145 TON, significantly lowering costs for frequent users. This fee reduction was made possible after validators approved the TON Core Development team’s proposal. The proposal advocated for a 2.5x reduction in transaction fees.

Under the new fee structure, the cost for the first Jetton-with-governance transaction is approximately $0.06. Each subsequent transaction costs about $0.04, assuming a TON token value of $7. This strategic fee reduction aims to boost user participation in TON network activities, especially governance, by making it more economically feasible.

More About TON

In addition to fee adjustments, the network has introduced precompiled contracts to its system. The inaugural precompiled contract — a Jetton with governance functionality — has already been activated. This integration means that the most popular smart contracts, typically written in C++, are now embedded directly into the node. This setup bypasses the need for execution through the TON Virtual Machine (TVM), which traditionally handles smart contract operations.

The advantage of precompiled contracts is significant: they reduce the resource consumption required for contract execution. Consequently, this lowers the fees associated with these contracts, further contributing to the network’s efficiency and user-friendliness.

By embedding these contracts directly into the node, it streamlines operations and enhances performance. This approach avoids the latency and processing overhead typically associated with traditional smart contract executions.



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