On April 24th at 00:00 (UTC + 8), The First spot area launched TON (Toncoin). After the launch, TON continued its strong momentum, and the trading volume on the first day of The First trading platform exceeded 6 million USDT. Subsequently, affected by the overall market situation, there was a downward trend for several consecutive days, and finally fell back to the low point of 4.57U. However, with the beginning of the rebound, TON decisively showed its strong upward trend. The real-time price showed a 40% increase and rebounded to 6.16 USDT, which is also the highest historical price level since TON launched The First.
This year, the TON chain ecosystem has made a leap forward. According to the ton.app website, there are currently 701 dapps included in the TON chain. In November last year, this number was less than 600. The rise in the price of TON is a manifestation of the development of the TON ecosystem.
Analyzing Dapps on the TON chain, it can be found that there are relatively few financial products on the TON chain, which is different from other public chains because of their strong financial effects and users' willingness to lock up. The reason is that the development focus of the TON chain is not on finance. Social, gaming, and payment Dapps are the main tasks of the TON chain. Therefore, the TON chain is specifically designed for Telegram.
However, this year, TON chain has also launched many mainstream public chain gameplay, especially emphasizing financial attributes, which has attracted the attention of many users in the industry. TON attracts cryptocurrency users with cryptocurrency gameplay, accelerates Telegram's Web3 transformation, and users participate in it, earning "airdrops", killing two birds with one stone.
Relying on the huge traffic pool of Telegram, TON's development focus is on social, gaming, and payment Dapps that are more in line with Telegram's development. Therefore, its chain is designed for these Dapps that have high requirements for the performance of public chains. According to DeFillama data, on May 7, 2024, TON's overall TVL has exceeded 200 million US dollars, ranking 27th. In November 2023, the ranking was 64th, and the TVL was about 9.56 million US dollars. This data also shows that TON's current active level on the chain has made a qualitative leap.
And these improvements are basically derived from the TON chain itself and the various airdrop activities launched by the Dapp on it.
For example, the TON Foundation has airdropped over 20,000 TON tokens to JVT holders and ANON traders, over 100,000 TON tokens to NFT traders and holders on NFT marketplaces Getgems, xRare, and NFT Diamonds, and about 200,000 TON tokens to DEX traders on DeDust and STON.fi.
In April, TON also launched the activity of depositing USDT in @wallet and earning 50% interest for a certain period of time. The activity coincided with the release of USDT on TON.
There is no doubt that TON is paying attention to the development of the DeFi field. Previously, TON's asynchronous architecture limited its development in the DeFi field. The problem of insufficient liquidity incentives and the lack of native stablecoins on the chain has also been solved. Cross-chain bridges have also become a key development task for TON. In 2023, TON also launched a DeFi liquidity incentive plan and held the Hack-a-TON Hackathon.
The problems that limit the development of the TON ecosystem have either been solved or are being solved, and the future is undoubtedly promising.
Moreover, it can be foreseen that in projects such as payment, gaming, and social networking that are already native to Telegram, TON already has irreplaceable advantages over other public chains.
Projects worth paying attention to on TON
Airdrop worth hitting on TON
TON officials said that 5 million TON will be allocated to users of the Earn function of the built-in wallet Toncoin Wallet, who only need to deposit USDT. Currently, there is a 50% interest rate on USDT deposits.
5 million TON will be used to reward liquidity providers, mainly two DEXs: STON.fi and DeDust. It is reported that providing liquidity for trading USDt and TON can earn rewards.
1.20 million TON will be rewarded to users who purchase USDt and related assets supported by TON from TON's centralized exchange partners and withdraw them to the TON chain. There will be no transaction fees until the end of June 2024.
This year, the TON chain ecosystem has made a leap forward. According to the ton.app website, there are currently 701 dapps included in the TON chain. In November last year, this number was less than 600. The rise in the price of TON is a manifestation of the development of the TON ecosystem.
Analyzing Dapps on the TON chain, it can be found that there are relatively few financial products on the TON chain, which is different from other public chains because of their strong financial effects and users' willingness to lock up. The reason is that the development focus of the TON chain is not on finance. Social, gaming, and payment Dapps are the main tasks of the TON chain. Therefore, the TON chain is specifically designed for Telegram.
However, this year, TON chain has also launched many mainstream public chain gameplay, especially emphasizing financial attributes, which has attracted the attention of many users in the industry. TON attracts cryptocurrency users with cryptocurrency gameplay, accelerates Telegram's Web3 transformation, and users participate in it, earning "airdrops", killing two birds with one stone.
Relying on the huge traffic pool of Telegram, TON's development focus is on social, gaming, and payment Dapps that are more in line with Telegram's development. Therefore, its chain is designed for these Dapps that have high requirements for the performance of public chains. According to DeFillama data, on May 7, 2024, TON's overall TVL has exceeded 200 million US dollars, ranking 27th. In November 2023, the ranking was 64th, and the TVL was about 9.56 million US dollars. This data also shows that TON's current active level on the chain has made a qualitative leap.
And these improvements are basically derived from the TON chain itself and the various airdrop activities launched by the Dapp on it.
For example, the TON Foundation has airdropped over 20,000 TON tokens to JVT holders and ANON traders, over 100,000 TON tokens to NFT traders and holders on NFT marketplaces Getgems, xRare, and NFT Diamonds, and about 200,000 TON tokens to DEX traders on DeDust and STON.fi.
In April, TON also launched the activity of depositing USDT in @wallet and earning 50% interest for a certain period of time. The activity coincided with the release of USDT on TON.
There is no doubt that TON is paying attention to the development of the DeFi field. Previously, TON's asynchronous architecture limited its development in the DeFi field. The problem of insufficient liquidity incentives and the lack of native stablecoins on the chain has also been solved. Cross-chain bridges have also become a key development task for TON. In 2023, TON also launched a DeFi liquidity incentive plan and held the Hack-a-TON Hackathon.
The problems that limit the development of the TON ecosystem have either been solved or are being solved, and the future is undoubtedly promising.
Moreover, it can be foreseen that in projects such as payment, gaming, and social networking that are already native to Telegram, TON already has irreplaceable advantages over other public chains.
Projects worth paying attention to on TON
- TONup
- Ston.fi
- @wallet
- TON Space
- Tonkeeper
- TonStake
- Orbit Bridge
Airdrop worth hitting on TON
- Catizen: This cat-themed GameFi project has attracted a large number of users, and 35% of the airdropped tokens are used for the ecosystem and airdrops, which is beneficial for promoting the development of the project. Although the airdrop details have not been announced, the distribution method based on game points and rankings sounds very attractive. It is recommended to participate moderately, especially only doing free tasks, to reduce investment costs.
- Moons: The airdrop mission of Moons is relatively simple, mainly focusing on social media and participating in Telegram community communication. This task format is relatively easy to complete and can be used as an easy way to obtain tokens. For those who like to participate in community discussions, this is a good opportunity.
- EVAA: As the largest lending agreement on TON, EVAA provides interest rates for deposit and pledge, rather than traditional airdrop methods. This method can provide users with stable returns, but attention should be paid to pledge risks and market fluctuations. In addition, by providing and lending assets, you can also earn EVAAXP points, and there may be opportunities for token airdrops in the future, which is a more stable way to participate.
- TON Raffles: This project is supported by the TON Foundation and provides simple and easy tasks. By posting tweets on Twitter and inviting friends to participate, completing tasks can earn points, and there may be corresponding airdrops in the future. This is a simple and potential way to participate.
TON officials said that 5 million TON will be allocated to users of the Earn function of the built-in wallet Toncoin Wallet, who only need to deposit USDT. Currently, there is a 50% interest rate on USDT deposits.
5 million TON will be used to reward liquidity providers, mainly two DEXs: STON.fi and DeDust. It is reported that providing liquidity for trading USDt and TON can earn rewards.
1.20 million TON will be rewarded to users who purchase USDt and related assets supported by TON from TON's centralized exchange partners and withdraw them to the TON chain. There will be no transaction fees until the end of June 2024.
