The Open Network is a layer 1 blockchain overseen by a decentralized community of developers and closely aligned with the Telegram ecosystem. It uses the native token Toncoin, which Telegram now uses to share ad revenue with channel owners, and Telegram’s off-chain currency Stars can be withdrawn in TON. TON has seen explosive growth following Telegram integrations and the rise of TON games like Hamster Kombat and X Empire, which run on the network and are playable on Telegram via mini-apps. Unique wallets holding Toncoin recently surged past 100 million, and the TON Foundation launched a $24 million incentive program in September to fuel DeFi growth on the network. Gate.io announced a $10 million strategic investment to enhance collaborations with the TON Foundation and accelerate Telegram-based projects. Gate.io said it will deepen involvement in TON governance, contribute to blockchain development, and launch new products including a CeFi Telegram mini-app and a Gate Wallet within Telegram. The Open Network (TON) is a blockchain that supports Telegram-based projects and a growing ecosystem of dApps. Its ecosystem emphasizes Tap-to-Earn, GameFi, and other emerging Web3 trends. A recent $30 million investment will be allocated through acquisition of TON tokens to accelerate adoption of those use cases. Bitget and Foresight Ventures plan to engage in TON governance and support future development and the go-to-market of additional dApps. The article frames TON-based projects as a strong use case for the expanding Telegram ecosystem. Coverage links TON’s momentum to ecosystem activities such as Bitget Wallet’s TONNECT 2024 event and rising user interest on app charts in markets like Nigeria. TON (The Open Network) is a Layer 1 blockchain originally designed by Telegram and continued by the open-source community, comprising TON Blockchain, TON Storage, TON DNS, and TON Services. Its dynamic sharding architecture is described as enabling high performance and scalability, capable of processing millions of transactions per second and supporting applications for hundreds of millions of users. TON is tightly integrated with Telegram’s distribution: Telegram has over 900 million monthly active users, Wallet in Telegram has 15 million users, and over 360 million users engage monthly with Telegram "Mini Apps." The ecosystem includes more than 300 projects and several high‑traction apps — StormTrade (~$10M in daily trading volume), Fragment (over $350M in sales of custom usernames and virtual phone numbers), Catizen (4M users, ~700k daily), and Notcoin (over 30M users). Recent developments include Tether’s deployment of USDt on TON (April 19, 2024), built-in on/off ramps, Wallet in Telegram’s custodial and self‑custodial flows, and a TON Foundation incentive program to reward successful apps. TON’s positioning emphasizes easy onboarding, low per‑transaction fees (~$0.10 for user-to-user transfers), NFT and creator monetization, and broad consumer payments via Telegram. The Open Network (TON) builds a Web3 ecosystem integrated with Telegram, including the native @wallet and support for Toncoin. TON’s stated mission is to empower 500 million users with digital identity, data, and assets by 2028 and to deliver crypto in every pocket. The project focuses on user-first deployment by leveraging Telegram’s large user base rather than building before finding users. Telegram’s monthly active users recently topped 900 million, which TON and its partners cite as a core distribution advantage. TON’s ecosystem includes startups such as Tonstarter, Fanton and PlayDeck, and third parties like LearnCrypto.com are being engaged to drive education and adoption. Activity metrics referenced in the articles include over 1 million sign-ups for @whale and roughly 15,000 daily active players within the TON ecosystem. TON (The Open Network) is a blockchain platform that powers on-Telegram decentralized applications and gaming, including TON Play, a gaming infrastructure for launching projects directly onto Telegram. The network aims to onboard Telegram’s large user base to Web3, with the article citing a potential reach of roughly 800 million active Telegram users. The partnership with Animoca Brands centers on gaming and GameFi adoption, and Animoca has supported TON with funding, research (two detailed study reports), and an analytics dashboard to track key metrics. Animoca intends to port a portion of its ~400 Web3 projects into Telegram via web apps and @playdeckbot, enabling developers to deliver games through the Telegram Web App. The collaboration focuses on improving scalability, user-friendliness, and developer tooling to accelerate third-party application growth within the TON ecosystem.

Total raised

$48M

Funding rounds

5

Latest round

Equity

Latest activity

Oct 2024