The Open Network (TON) and its ecosystem have seen significant growth in the last eight months. The number of on-chain active wallets has increased from 459,085 to 844,242, which is an 83.9% growth. This growth is massive, especially considering the fact we are currently in a bear season.

A little context…

… The Open Network (TON) is a decentralized and open internet, created by the community using a technology designed by Telegram. TON is for everyone — whether you're an enthusiast, developer, investor, creator, start-up, gamer, or simply curious about the limitless possibilities of Web3. TON is in fact a secured layer one (L1) blockchain that is capable of processing millions of transactions per second (TPS) at low gas fees. Its consensus mechanism is the Proof of Stake, hence it is eco-friendly. TON Foundation is Headquartered in Switzerland.

September 19th, 2023 was a historic and groundbreaking day for TON ecosystem. At the Token 2049 event held in Singapore, TON Foundation announced its partnership with the Telegram App. This announcement was ushered in with an airdrop of $50,000 worth of its token to users on Telegram via the @wallet— an in-built crypto wallet on Telegram that allows users to hold crypto and carry out transactions without leaving the app, with its non-custodial version, TON Space. Since then, TON has stayed true to its goal of putting “Web3 in every pocket” and onboarding 1.5 billion people by 2028.

Image: telegram.org

The Foundation has prioritized strategic partnerships and collaborations with top projects across various niches. A few of these include;

Blockchain.com

Toncoin is currently listed on the premier blockchain wallet. This partnership makes it easier for users to sell, buy, and store Toncoin (USD, GBP, and EUR trading pairs) in their wallets. Blockchain.com users who purchase $20 worth of Toincoin will receive $5 extra worth of Toncoin in their wallet (T&C applies over a limited time). This move is a massive step in the right direction to onboard over 50 million users on the platform to TON Network and the ecosystem.

BIT Exchange

Allows the payment of trading fees on its trading platform with Toincoin cryptocurrency, and also a 10% discount on payments made with the new ‘Deduct with TON’ feature amongst other utilities.

Tencent Cloud and Chainbase.

With the Telegram Mini Apps having an influx of users by the day, these partnerships with Tencent Cloud—Cloud providing service and Chainbase— Data indexing product make it easier for TON developers to build within Telegram.

Certik.

This partnership with the auditing platform Certik is geared towards smart contracts and projects building on TON. This is in TON Foundation's quest to reduce the risk of security threats and breaches in the ecosystem.

Chainalysis.

This collaboration with Chainalysis Crypto Incident seeks to make sure that users’ funds are safe and adequately protected. This is because securing the integrity of the network and user protection against exposure to bad actors that may lead to loss of funds is among the topmost priorities of TON Foundation.

Gamefi.org

The gaming industry is not left out as seen in this partnership with Gamefi.org. The gaming industry on TON ecosystem and Telegram is further strengthened with a major focus on three (3) core areas viz;

Gamefi.org becoming a member of the TON Alliance— A group of game enthusiasts, researchers and developers saddled with the common goal of evolving the gaming landscape in the ecosystem.
TON integration on Gamefi.org to enhance user experience, fast transaction speed, and security for games.
TON and Gamefi.org teaming up to evaluate, recommend, and provide the needed support for IDO launches.

Image: EthSign

EthSign

This collaboration makes it easier for businesses and clients to sign legal contracts within the Telegram App via its EthSignBot.

Other collaborations and partnerships worthy of note are Mexc Ventures, Nakatomo Games, NFT Scan, ETHSign, DWF Labs, and Finger Labs, amongst others.

Various other notable developments in TON ecosystem are;

TONcoin.Fund

A $250m venture that invests in projects providing solutions across infrastructures, SocialFi, NFTs, DAOs, gaming, and DeFi verticals of Web3. Their partners include Kucoin, MEXC Global, ORBS, HuobiIncubator, DWF Labs, Cypher and Kilo.

TON Accelerator Program

This program provides between $50,000 to $25,000 funding support to projects building on TON. It goes further to provide partnerships and support among other accelerator partners.

Telegram Web3 Grant

According to an article from their website, “ … We pledge to create a world where Telegram becomes the all-in-one platform for all your needs– payments, utilities & tools, productivity, messaging, content, and even gaming”. The program’s grant amounts from $10,000 to $50,000 in TON to projects providing Web3 solutions on Telegram.

TON Believers Fund

This is a community-driven initiative that shows the long-term commitment to the TON project. With around 1.3 billion TON (Approximately $2.8 billion) raised so far. 25% of the entire TON supply is locked in a Locker Smart Contract for two years, after which the deposited TON will be vested monthly with rewards attached to it for three (3) years.

The Gateway

The Gateway is an annual event for the TON community. This year’s event will be held in Dubai on 10-11 November.

With the bull market perceived to be on the horizon, The Open Network and its ecosystem would be a huge force to reckon with. Its massive use cases and goal to onboard the masses into Web3 by building relatable Web3 products with low entry barriers pushes its rank on top of the industry “Big Boys”, worthy of being on everyone’s watchlist!