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TON Wallet

Understanding TON walletโ€‹

  • Smart Contract Foundation: On the TON chain, everything is a smart contract. This includes your TON wallet, which operates as a smart contract address.
  • Initial Costs : Users need to pay a little TON for their wallet contract before using it. It includes deploying the smart contract, and the storage fees.
  • Address Formats : TON wallet addresses come in 2 formats: โ€œEQโ€ address and โ€œUQโ€ address. MPCVault supports displaying addresses that begin with UQ.

Composition of TON transaction feesโ€‹

On the TON Chain, the transaction fee for each transaction consists of several parts, and currently users cannot modify or prioritize network fees. Understanding these components can help you better manage your transaction costs.

  • Storage fees The amount you pay for storing a smart contract on the blockchain. Since your TON wallet is also a smart contract, it pays a storage fee every time you make a transaction.
  • Fwd. fees The charges for calling contracts when sending internal or external messages on the blockchain through a wallet, including In fwd. fees and Out fwd. fees.
  • Action fees After calculating the transaction fee, it is the fee required for officially initiating the transaction (calling the contract).
  • Computation fees It is the amount you pay for executing code in the virtual machine. The larger the code, the more fees must be paid. Example: each time you send a transaction with your wallet (which is a smart contract), you execute the code of your wallet contract and pay for it.

TON wallet in MPCVaultโ€‹

With MPCVault, you can create and manage your TON wallet while benefiting from enhanced security, user autonomy, and self-custody flexibility. MPCVault combines Multi-Party Computation (MPC), multi-signature capabilities, and self-custody to give you better control over your TON assets.

TON wallet usage tipsโ€‹

  • All on-chain transaction fees are charged by TON Chain. MPCVault does not charge any fees.
  • Each wallet needs to spend a small amount of TON during the first transaction to deploy the wallet contract on the chain. This expense is one-time.
  • Each transaction of each wallet will consume a certain amount of on-chain storage fee. This fee is not one-time and needs to be paid for each transaction.
  • When transferring TON from Wallet to the exchange, you need to indicate a comment (memo/tag) . The comment helps identify the transaction when the exchange receives it. This comment will be visible to everyone on blockchain.