STON.fi launched an AMM on the TON Blockchain and later built Omniston to aggregate liquidity across multiple DEXs on TON, addressing fragmentation issues. Omniston faced scaling challenges related to multi-hop swaps, liquidity fragmentation, and complex market actor behaviors, leading to the addition of private liquidity sources via escrow swaps. The team emphasizes the trade-offs of remaining fully non-custodial, focusing on user education and seamless experience, while planning expansion into cross-chain aggregation to unify liquidity beyond TON.