Overview of TON Wallet

Basic Terminology

• TON Wallet: On the TON BlockChain, each wallet is managed by a seed phrase/private key pair, but each wallet is a smart contract. Before using it, each wallet needs to be deployed on the mainnet in advance, and a small amount of Toncoin needs to be paid as network fees for its usage.

• TON Account: With the same seed phrases, different accounts can be created based on different contract types provided by the TON official. These accounts, due to different contract types, can support different functions but are still managed by the same set of seed phrases.

• Contract Types: TON provides users with various types of wallet contracts, each of which can realize different wallet functions:

Contract type	Functionality overview
Wallet V1	Supports only sending one transaction at a time
Wallet V2	Adds transaction time limits to prevent transactions from being unconfirmed for a long time
Wallet V3	Introduces the Subwallet ID feature, enabling the creation of sub-wallet
Wallet V4	Introduces plugins and subscription features, while also being compatible with the V3 contract
Highload wallet V3	Can facilitate batch transactions
Lockup wallet	Can lock assets in the wallet for a certain period before unlocking
Restricted wallet	Can restrict the wallet to only transact with a specific account and run staking validator

• Subwallet ID: AN integer-form sub-wallet ID. The default value is 698983191. Different subwallet IDs can be set to create different sub-wallets.

• Jetton: non-native tokens on the TON chain.

• Jetton Wallet: Each type of jetton within a wallet is managed by a jetton wallet. When users transact Jetton, it is actually done by the wallet contract calling the corresponding Jetton wallet contract.

Main Differences Between TON And EVM Chains

• On the TON chain, everything is a smart contract, including wallets. the wallet address is also a smart contract address

• Users need to pay a little Toncoin for their wallet contract before using it. It includes deploying the smart contract, and the storage fees

• The smart contracts on the TON can be updated easily, while ETH contracts once deployed on the chain are difficult to update.

• You can create many sub-wallets with one public key and different Subwallet IDs, which are all managed by the same seed phrase

Features Of TON Wallets

• New wallet accounts need to pay a little Toncoin to deploy the smart contract on the chain

• Each wallet has several formats of addresses. Although these addresses look completely different, they all accurately point to the specific wallet. Pay attention that transactions according to the different networks will cos the loss of your assets.

Different Formats Of TON Wallet Addresses

Addressed formats	Network	Features	Applicable project types
E…	Mainnet	Transferring to this type fo addresses may be bounced. Confirm that the contract address has been deployed.	More suitable for smart contracts that need to receive funds. If the smart contract has not been deployed on the chain yet, funds transferred to such addresses will be bounced, which can to some extent prevent fund loss.
U…	Mainnet	Non-bounceable addrsses.	More suitable for wallets.
k…	Testnet	Bounceable testnet addresses	Only applicable to testnet addresses that bounceable.
0…	Testnet	Non-bounceable test net addresses	Only applicable to testnet addresses that cannot be bounced.

Main Differences Between TON Wallets And EVM Wallets

Wallet	EVM	TON
Self-custodied	✅	✅
Account	Free for use	Need to pay Toncoin to deploy the account and storage it
wallet addresses	0x…	U… E… 0… k…
Network fee	Gas fee	Total fees = Storage fees + in fwd. fees +computation fees +action fees +out fwd. fees At the first time transfer, it also need pay for deploy.
Editable by users	✅	❌

Composition Of TON Transaction Fees

Transaction fees on the TON Chain are priced in Gas. Unlike EVM, the transaction fee for each transaction consists of several parts, and currently users cannot modify or prioritize network fees.

Compinents	Overview
Storage fees	Since wallet accounts are contracts stored on the chain, storage fees need to be paid for the period from the last transaction to the current one. Please note: the larger the contract size, the more storage fees will be required.
Fwd. fees	When sending internal or external messages on the chain through a wallet, it requires calling contracts. Fwd. fees are the fees for calling contracts, 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).
Gas fees	Also known as Computation fees, all computational costs of the transaction are calculated using Gas. It costs 400 nanotons for each unit of gas.

Some TON Wallet Using Tips

• All on-chain transaction fees are collected by the TON Chain, and TP wallets do not charge any fees.

• Each wallet needs to spend a small amount of Toncoin 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 fees. This fee is not one-time and needs to be paid for each transaction.

• For wallets that have been deployed, if there is no Toncoin balance, the corresponding contract storage fee will be deducted when Toncoin is received next time. Therefore, there may be a slight difference between the amount received and the amount transferred out.

• When transacting, pay attention to whether the recipient's wallet address is consistent with the network of your own wallet. Cross-network transfers will result in permanent loss of assets! This rule applies not only to direct transfers but also to interactions with DApps.

• Wallets are still created/imported in a decentralized manner based on mnemonic phrases and private keys. Please make sure to keep them safe.

• Wallets that have been created will not change their addresses with the addition/change of contract types.

• When interacting with DApps on the TON Chain, after connecting a wallet ,switching another wallet will not receive a reminder. Please make sure to check whether the connected wallet is the current one during transactions.

• When connecting to DApps, some DApps may not prompt for network mismatch. Make sure that the network of the wallet (mainnet or testnet) matches the DApp network. Cross-network transfers will loss your assets!