KEYTAKEAWAYS
- TON's growth emphasizes social, gaming, and payment dApps, showcasing its unique focus on Web3 accessibility.
- Notable projects include launchpad TonUP, DEX STON.fi, integrated wallets like @Wallet and TON Space, and NFT marketplace TON Diamonds.
- Airdrops like Catizen, Moons, and EVAA offer diverse opportunities, reflecting TON's expanding ecosystem and user engagement strategies.
CONTENT
The TON blockchain ecosystem has experienced notable growth this year. According to data from ton.app, the blockchain hosts over 700 decentralized applications (dApps), a significant increase from the sub-600 mark seen last November. This expansion aligns with the rising value of TON cryptocurrency, underscoring the ecosystem’s evolving vitality. However, unlike other public blockchains that emphasize financial applications and attract users through staking and financial incentives, TON primarily focuses on social networking, gaming, and payments. The blockchain is designed to complement Telegram’s development.
GROWTH AND CHALLENGES
The ecosystem’s growth in social, gaming, and payment-oriented dApps illustrates TON’s focus on solutions tailored for social networking and Web3 access. Its high transaction speed per second (TPS) sets a new standard, achieving 104,715 TPS in November 2023. Despite this potential, TON is still in an early stage. With only 39 full-time developers (according to data up to December 31, 2023), it ranks lower than other blockchains. However, its community of over 4,000 developers, including part-timers, continues to expand steadily. The total value locked (TVL) on TON has surpassed $200 million, a considerable increase from $9.56 million in November 2023.
PROMINENT PROJECTS ON THE TON BLOCKCHAIN
TonUP: The First Launchpad on TON
TonUP stands out as the inaugural launchpad platform on the TON blockchain, enjoying support from the TON Foundation, TONcoin.Fund, and ForesightX. Beyond offering standard Initial DEX Offering (IDO) services, TonUP introduces a novel Community Protection Plan (CPP) to safeguard the interests of IDO community members.
STON.fi: A Distinctive DEX
Built on the TON blockchain, STON.fi is a decentralized exchange (DEX) noted for its low fees and minimal slippage, a feature set it shares with other DEX platforms. Its native token is Ston.
@Wallet: Integrated Telegram Bot
@Wallet operates within Telegram and can be accessed by searching and opening @Wallet in the app settings. It’s a custodial wallet developed and managed by the TOP team, offering seamless in-chat transaction capabilities due to its deep integration with Telegram.
TON Space: The Non-Custodial Wallet
Post-access in @Wallet, users can activate TON Space Beta in the settings. This wallet is non-custodial and serves as Telegram’s embedded equivalent of MetaMask, supporting NFT storage, third-party app interactions, and trading. TON Space is accessible as a web version and a mini-app within Telegram.
Tonkeeper: Independent and Reliable
Tonkeeper is an independent, non-custodial wallet for TON, predating and surpassing TON Space in terms of stability and user experience. It is recommended for interacting with applications.
MyTonWallet: An Alternative to Tonkeeper
MyTonWallet offers a superior application experience compared to Tonkeeper and includes features like offline signing, which Tonkeeper does not support.
Tonhub: High-Security Non-Custodial Wallet
Tonhub focuses on advanced security and user privacy. Users can securely access their wallet using a PIN or biometric identification to send or receive TON.
Crypto Bot: Telegram-Integrated Bot
Crypto Bot allows users within Telegram to store, transfer, pay, and trade tokens. It also features a P2P market and subscription services, charging no fees to buyers and a 1% fee to sellers for transactions.
TonStake: Premier Staking Pool
Claiming to be the first and largest staking pool on TON, TonStake offers an annual yield of approximately 8.51% and charges a 10% service fee. It also provides APIs for third-party service providers to integrate staking functions. As of January 3, TonStake managed over $4.2 million in staked assets, distributing over $340,000 in staking rewards to users.
Orbit Bridge: Enhancing Cross-Chain Connectivity
On December 1, Orbit Bridge announced support for the TON network, facilitating cross-chain interactions with multiple blockchains including Ethereum, BNB, Klayth, and Polygon, covering assets like USDC, USDT, and MATIC. Additionally, it has developed the AMM-based DEX Megaton Finance based on Ozys development for TON, which launched in January this year.
TON DNS: Domain Name Provider
TON DNS, a provider of domain services on the TON blockchain, allows users to register “.ton” domains with a minimum of four characters and a maximum of 126. Similar to the popular ENS, these domain NFTs can be stored, gifted, or sold, with unregistered domains being auctioned initially. Secondary sales can occur on platforms like Getgems.
TON Diamonds: Major NFT Marketplace
TON Diamonds is a leading NFT marketplace on TON, charging a standard 5% transaction fee. However, users can reduce fees by purchasing official NFTs of varying tiers—Small Diamond (2% fee), Medium Diamond (1% fee), and Big Diamond (0% fee). Diamond NFT holders also enjoy benefits such as additional airdrops, priority NFT sales, and participation in IDOs. TON Diamonds hosts six NFT projects, including StickerFace Wearables, with NFTs available for direct purchase or auction.
Fragment: Decentralized NFT Trading Platform
Fragment operates as a non-custodial decentralized NFT trading platform closely integrated with Telegram, serving as a marketplace for usernames and virtual numbers, with TON as the transaction currency. Initial sellers receive all proceeds after a 5% platform and conversion fee deduction, and users can also secure attractive and secure Telegram usernames through auctions.
PROMINENT AIRDROPS ON THE TON BLOCKCHAIN
Catizen: Blockchain GameFi Project
Catizen, a blockchain GameFi project by Pluto Studio, partners with major investors like TON Foundation and Web3com Ventures. The game, built within Telegram, rewards users through airdropped Kitty tokens, with 35% of the supply reserved for ecosystem development and giveaways. Players earn rewards by merging cat characters and unlocking new varieties, all without downloading any additional apps. To participate, players can use their Telegram account, create a TON Space or Tonkeeper wallet, deposit 1-5 TON, and start playing via this link.
Moons: Web3 Acceleration Project
Moons rewards users with airdrop tokens for completing certain tasks. To participate, users must follow Moons on Twitter, join the Moons Telegram community, and earn points by engaging with the Moons app. Each evaluation of a different token yields five points.
EVAA: The Largest Lending Protocol on TON
EVAA offers lending opportunities instead of traditional airdrops. Users deposit Jusdt, borrow TON, and stake TON to earn tsTON (approximately 4% APY). Re-staking tsTON enables users to increase their borrowing capacity while keeping liquidation risks low. Additionally, lending or borrowing on EVAA earns EVAAXP points, which can be redeemed for protocol tokens in future airdrops.
TON Raffles: Integrated Web3 Platform
Supported by the TON Foundation, TON Raffles is an all-in-one Web3 platform providing Jetton and NFT launchpads, staking, and a Jetton generator. Tasks are straightforward: provide your Ton wallet address and Twitter profile link, share relevant tweets, and invite friends to participate via this link. Completing these tasks earns 10 points, which will eventually translate into airdrop rewards.
OFFICIAL TON AIRDROPS
The TON Foundation announced it would allocate 5 million TON tokens to users who deposit USDT in the embedded wallet’s Earn feature. Liquidity providers for two key decentralized exchanges (STON.fi and DeDust) can earn additional rewards. Moreover, users who purchase USDT or TON assets on centralized exchanges and withdraw to the TON blockchain can benefit from fee waivers.
CONCLUSION
Despite initial challenges, TON is steadily addressing its limitations and expanding its ecosystem, particularly in areas where it holds an inherent advantage due to its integration with Telegram. Its focus on social, gaming, and payment-oriented dApps aligns with its core strengths, indicating a promising future.
