Overview of TON Blockchain Ecological Applications, 551 DApps Covering 16 Tracks

551 DApps Covering 16 Tracks in TON Blockchain Ecological Applications Overview

The TON ecosystem benefits from Telegram’s large user base, and building applications within Telegram can bring in a significant number of users.

Public chains are the eternal focus of Web3, and new competitors continue to join the race. With the development of the Telegram bot project and the integration of the self-hosted wallet “Ton SLianGuaice” into Telegram, the TON (The Open Network) blockchain has attracted more attention, and its native token has entered the top 10 in terms of market value.

Unlike most new public chains that struggle to acquire new users, TON has the support of Telegram’s 800 million users. The TON Foundation hopes to bring 30% of Telegram users onto the TON platform, and expects to have 500 million active users on TON by 2028. If we compare Telegram and TON to a platform similar to WeChat, the applications built on top of TON are also worth paying attention to due to the large user base.

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In the ecosystem officially announced by the TON blockchain, there are already 551 applications included, including projects related to staking, wallets, browsers, cross-chain bridges, public infrastructure, NFTs, social media, games, decentralized exchanges, etc.

The TON Foundation also provides support for ecosystem projects. In April 2022, the TON Foundation announced the establishment of the $250 million ecological fund Toncoin Fund, which received investments from Huobi, KuCoin, MEXC, DWF, and others, and will invest in and sponsor ecosystem projects. In May 2023, the TONcoin Fund announced the $25 million TON Accelerator Program, which will invest in projects within the TON ecosystem that can have a significant impact. In the following sections, LianGuaiNews will introduce various noteworthy applications in the TON ecosystem.

DEX

DEX projects are often among the first to be deployed on public chains. However, in the current market conditions where the market sentiment is poor, returns are low, and new projects on new public chains have weaker security compared to time-tested projects, DEX projects on new public chains struggle to attract sufficient funding. According to DeFiLlama data, the currently launched DEXs include Megaton Finance, DeDust, STON.fi, and Tegro Finance, with each project having a TVL of only a few million dollars at most. Among them, Megaton Finance may be the most noteworthy.

Megaton Finance is developed by the team behind KlaySwap, the largest DEX platform on the Korean public chain Klaytn. In March of this year, Megaton Finance announced the completion of a $1.5 million seed round led by Toncoin Fund, with a TVL of $5.11 million, the highest among all DeFi projects on the TON public chain. However, Megaton Finance currently has a daily trading volume of less than $200,000, and according to data from the Megaton website, the main trading volume comes from the trading pair oWEMIX-oWEMIX$, with a trading volume of less than $3,000 in the past 24 hours for the trading pair MEGA-WTON, which consists of the native tokens of the public chain, TON, and Megaton, and the trading pair with the highest liquidity, oUSDC-oUSDT, has a trading volume of only $171 in the past 24 hours.

Launch and Guide

Tonstarter

Tonstarter, the launch platform in the TON ecosystem, announced the completion of a $1.5 million financing round in March of this year, with support from the TON Accelerator Program. Tonstarter allows for activities such as private funding, 1C0, airdrops, and others. The official website lists 11 launch projects, including several representative projects in the TON ecosystem, such as Fanzee, Megaton, Evaa Protocol, and STON.fi.

Lending

Evaa Protocol

In the lending category, Evaa Protocol is worth paying attention to. It is integrated with Telegram and is a winner of the DoraHacks hackathon. It has also received strategic investment from Toncoin Fund and has conducted angel round financing on Tonstarter. It is expected to launch tokens in the first quarter of 2024.

Telegram Usernames, Anonymous Numbers, Auction Market, and TON Domains

The founder of Telegram proposed to auction off Telegram usernames as NFT assets, and this idea has been implemented. The TON official stated that the auction of Twitter usernames alone brought in $120 million in revenue. These NFTs can also be sold on the secondary market and used as assets in NFTFi.

Telegram requires users to bind their phone numbers during registration, but there is also another service that can bypass this restriction, which is anonymous numbers that can be used to log in to Telegram anonymously.

As a result, a market fragment dedicated to the auction of Telegram usernames, anonymous numbers, and premium subscriptions for Telegram has emerged. Currently, the highest bid for a username on the Fragment website is @canada, which is equivalent to approximately $34,906; the highest bid for a username is +88803300330, which is equivalent to approximately $11,078.

TON Domains

TON DNS domains can be registered, which are also a type of NFT. These domains are integrated into the Tonkeeper, TON Web Wallet, and Tonscan blockchain browser.

NFT Market and Other NFTs

TON Diamonds

An NFT market on TON, where advanced features such as zero service fees can be unlocked by holding diamond NFTs issued by TON Diamonds.

Representative NFT projects include Annihilation, OCTOPUS BOYZ, and more. Annihilation is created by the artist @sheidlina, who has 750,000 followers on Twitter. The floor price of the NFT is 211 TON, and there are a total of 1,000 NFTs in this series, with a trading volume of 177,000 TON. OCTOPUS BOYZ has a floor price of 85 TON, with a total of 707 NFTs and a trading volume of 75,000 TON.

NFTFi

DAOLama

An NFT lending market where NFTs can be rented and used as collateral for loans. It supports Telegram usernames, anonymous numbers, NFTs issued by DAOLama, and NFTs issued by TON Diamonds, among others. Currently, DeFiLlama shows that the total value locked (TVL) of this project is $90,483.

GameFi

Fanzee

A gaming platform led by Toncoin Fund and First Stage Labs (now renamed as The Open Platform), which includes NFT collectibles, club tokens, NFT tickets, and more.

Gambling

Whale

Provides hundreds of gambling games on Telegram.

Summary

Thanks to Telegram’s huge user base, TON can be used directly within Telegram for TON wallets and applications. In the future, there may be representative projects that will attract a large number of users. However, the development of projects in the TON ecosystem is still in its early stages, and the TON official has also provided support for representative projects within the ecosystem.

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