swap.coffee is a DEX aggregator for the TON network. The pitch is straightforward: instead of manually checking a jetton price on STON.fi, DeDust and Megaton one by one, you enter the amount once and the aggregator scans dozens of pools to return the best available route — sometimes splitting the order across two or three DEXes in a single atomic transaction. This review covers what is under the hood in 2026, where the price improvement is real, where it is not, and what risks to keep in mind.
TL;DR: who this is for
- Active jetton trader — split routing across pools typically adds 0.3 to 1.5 percent of price improvement on mid-liquidity pairs.
- Long-tail buyer — memecoins and niche jettons that live in one DeDust pool and one STON.fi pool: the aggregator finds the deepest path automatically.
- Limit-order user — this is the only mainstream way to place a real limit buy on a TON jetton today.
- Large one-off swap — fine, but test the route with 50 to 200 dollars first, then commit the main amount.
Why aggregators exist on TON
On Ethereum, aggregators like 1inch and CoW became the default years ago because liquidity is spread across 20+ DEXes and manual price comparison is pointless. TON used to be simpler — most volume sat with STON.fi and DeDust — but the picture has fragmented. Megaton joined, separate jetton pools live on smaller AMMs, LSTs add their own liquidity layer, and many useful USDT routes now go through two or three hops.
swap.coffee solves three concrete problems:
- Best-price discovery — one query scans the connected DEX sources, accounts for slippage and fees, and returns the top route.
- Split routing — if the math improves, the order is split. Sixty percent goes through a STON.fi pool, forty through DeDust, and the user signs one transaction; the aggregator’s smart contract calls both DEXes atomically.
- Multi-hop routes — swapping JettonA to JettonB might go through TON or USDT as an intermediary if that path is cheaper. The router decides, you do not.
Unlike Ethereum, TON has no public mempool and block construction is in validator hands, so MEV protection works very differently. swap.coffee leans on routing quality rather than on private-mempool sandwich defence.
How the routing actually works
When you punch in an amount, swap.coffee does roughly the following:
- Pulls on-chain pool snapshots — reserves, fee tiers and curves. For classic AMMs that is a pair of reserves; for concentrated liquidity, it is an array of ticks.
- Builds a graph — tokens are nodes, pools are edges. Best-path search is essentially a modified Dijkstra weighted by slippage.
- Simulates — every candidate route is priced for the actual order size. A large order through a thin pool gives a bad fill even if the nominal rate looks great, and the simulator catches this.
- Returns a quote — top route plus shown slippage, gas estimate and service fee. Underneath sits the raw smart-contract payload.
- You sign — TON Connect opens Tonkeeper, you see the final receive amount, gas and fee, and approve.
Quotes are short-lived — a few seconds. If you stall, the pool moves and the slippage no longer matches at signing time. The UI shows a countdown; default max slippage is 1 percent, and that is where I recommend keeping it. Do not raise it to 5 percent just because some old DEX UI defaults there.
Split routing in practice
Say you are swapping 5,000 USDT into STORM. One STON.fi pool returns X tokens with 1.8 percent slippage. One DeDust pool gives Y tokens at 2.1 percent. Splitting the order roughly 65/35 between them drops effective slippage to about 1.1 percent and improves the output by a few percent. This is the core value of an aggregator.
For small swaps under 200 to 500 dollars, the split almost never triggers — extra gas would eat the saving. The aggregator just proxies you into one pool and takes its small service fee.
Fees and slippage
What you actually pay on a single swap:
- Underlying DEX fee — 0.2 to 0.3 percent on standard STON.fi/DeDust pools. Concentrated-liquidity pools can be cheaper.
- Aggregator service fee — typically 0.1 to 0.3 percent, displayed in the quote before signing. Unlike some Ethereum aggregators that mask fees as MEV capture, swap.coffee bakes its take into the quote transparently.
- TON gas — 0.05 to 0.15 TON per route. Split routes cost more because they emit more internal messages.
- Real-world slippage — gap between the displayed quote and final fill. Under 0.2 percent on calm pairs, easily 1 to 3 percent on volatile memecoins even with sane settings.
!Thin jetton liquidity
If total liquidity across all pools for a jetton is under 50,000 dollars, any 1,000-dollar order moves the price. The aggregator will honestly show high slippage in the quote, but the “best route” out of bad options is still a bad fill. For these tokens, split your buy into 3 to 5 entries across the day.
Limit orders — a rare TON feature
Most TON DEXes are AMMs without an order book, which means a classic “buy STORM at 0.0024 USDT” simply does not exist as a primitive. swap.coffee fakes it with keeper bots: you sign a special order with a target price and expiry, keepers monitor the pools, and when a route hits your target they fire the swap on behalf of the smart contract.
From a user perspective it behaves like a CEX limit:
- Place a limit buy below market — wait.
- Partial fill — the aggregator forwards the rest as price moves.
- Cancel — your tokens come back, no execution gas charged.
What you should not expect:
- Guaranteed fills — if the market never reaches your price, the order sits until it expires. Fine for memecoins, sometimes annoying for “buy TON on a dip” plans.
- Perfect price — the keeper takes a small reward for execution, visible in the order terms. On tiny 20 to 50 dollar orders that overhead is noticeable in percentage terms.
For a serious DCA plan — say, 100 dollars a day for 30 days — swap.coffee limit orders are a working tool. Nothing else in the TON ecosystem offers this in production at scale.
TON Connect and wallet integration
swap.coffee is built entirely on TON Connect 2.0. Connection options:
- Tonkeeper / Tonkeeper Pro — primary path, polished. QR or deep-link, signature on the phone.
- MyTonWallet — supported, tested via the Chrome extension.
- Telegram Wallet (the built-in @wallet) — works through TON Connect, but reliably only from a regular browser. Deep-linking from inside a Telegram WebApp sometimes loses the return context.
- Ledger via Tonkeeper — works as expected. The hardware signs the route, the aggregator never touches your keys.
There are no “approve unlimited” prompts the way Ethereum has — every transaction is a discrete signature with an explicit amount and target contract. This is a TON architectural win in general: fewer footguns for distracted users.
Security and audit
Be honest with yourself here. swap.coffee is a relatively young project. What is in place:
- Non-custodial design — the aggregator’s contract atomically calls underlying DEXes. If the transaction fails, your tokens return. There is no off-chain custody.
- Open contracts — main router contracts are published and verified.
- Partial audit — reports exist, but this is not a “three independent auditors plus active bug bounty” Tier-1 package the way Aave is reviewed. It is a normal level for a mid-size TON DeFi protocol, but it is not Tier-1.
What to avoid:
- Signing without looking — always confirm the receive amount and slippage in the Tonkeeper prompt. If the quote in the wallet differs sharply from the UI, cancel.
- Putting the entire balance through one swap — for large amounts, split and verify after the first batch.
- Approving unknown jettons — some jettons let their issuer freeze balances. That risk is on the jetton, not on swap.coffee, but the result is the same: your address can end up locked. Vet the token, not just the route.
iTest small first
Before swapping a large amount, run 20 to 50 dollars through the same route. If the quote matches the fill and the fee looks sane, commit the main amount. Five extra minutes here protect you from both aggregator bugs and surprise pool moves.
When to use the aggregator vs going direct
swap.coffee wins when:
- You are swapping more than 500 dollars on mid-liquidity jettons — split routing actually pays for itself.
- You need limit orders or grid-DCA into a position.
- You do not know which pool is currently deepest — easier to delegate to the router.
Go direct (for example via the STON.fi complete guide) when:
- You are providing liquidity to a pool — that is DEX work, the aggregator does not help.
- You are farming LP rewards or running a STON.fi Boost.
- You use DeDust concentrated liquidity — range setup lives only in their UI.
- The swap is under 100 dollars — the split saving will not cover the extra gas, just go direct.
The cleanest mental model is to keep both options open: open swap.coffee for daily swaps and click through, then visit the underlying DEX for liquidity work. They are different tools, not competitors.
Drawbacks
For balance, the concrete weak points:
- Not Tier-1 audited — covered above. For positions north of 20–50k dollars, consider splitting between services or working directly with a base DEX whose contracts have a longer mainnet track record.
- UI is dense in places — slippage, deadline, MEV-protection toggles, route preview. Useful for power users, overwhelming for a beginner who could just open STON.fi with a single From-To field.
- Limit orders are not an order book — no depth, no guaranteed partial fills. They still trigger by price and may either execute fully or not at all if the market jumps over the level.
- Service-fee changes — over six months we have seen two adjustments. Normal for a young product, but read the quote every time, do not rely on “I know it’s 0.2 percent.”
Bottom line
swap.coffee is the most mature DEX aggregator in the TON ecosystem in 2026 and the only mainstream path to limit orders on jettons. For everyday swaps on mid-liquidity pairs it consistently beats going direct to a single DEX. In exchange you accept a relatively young contract with a partial audit and a small service fee on top of the base DEX rate.
A reasonable workflow: use the aggregator as your default for swaps above 200 to 500 dollars, test new routes with small amounts first, and for large positions compare the quote with a direct STON.fi or DeDust swap and let the actual numbers decide rather than habit. If you want to put your TON or jettons to work after the swap, see the separate guide on yield farming on TON — it covers concrete pools and realistic APRs without the hype.
