A summary of the TON ecological projects built on Telegram

Wu said blockchain
2023-01-15 11:32:54
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Telegram has an audience of over 700 million, giving The Open Network a significant advantage in future ecosystem development.

Title: 《The Most Underrated Public Chain? A Review of the TON Ecosystem Built on Telegram

Author: Maverick, Colin Wu, Wu Says

Note: This article is for information sharing only and has no financial ties to the projects mentioned, nor does it endorse them.

The Open Network's native Token TON performed impressively in 2022. According to CoinMarketCap data, after hitting a low of about $0.75 in June 2022, TON surged to around $2 today, with an increase of over 200%, making it the 22nd largest cryptocurrency by market capitalization.

TON can be considered one of the most underrated public chains. It was originally designed and established by the team of Telegram, one of the three major social media platforms in the crypto space, in 2018 as a fully decentralized Layer 1 blockchain, featuring scalability and sharding capabilities, ultra-fast transactions, low fees, and user-friendly applications. However, due to legal disputes in 2020, the Telegram team ultimately agreed to settle with the SEC, leading to the forced cessation of their work. After the Telegram team abandoned the TON project, community developers took over and renamed it to its current name—The Open Network.

The Open Network uses a POS mechanism, and the main functions of the TON Token are to pay transaction fees, settle payments, and validate transactions, with the current annual inflation rate derived from TON's basic parameters being approximately 0.6%.

Notably, at the end of December, the official TON Twitter account @ton_blockchain was banned for unknown reasons.

This article will review the main native applications in the TON ecosystem.

image(Image Source: Coin98Analytics)

1. Wallets

Crypto Bot

Users can use Crypto Bot on Telegram for token storage, transfer, payment, and trading. Additionally, Crypto Bot features a P2P market and subscription functionality. In the P2P market, buyers incur no fees, while sellers pay a 1% fee; when using the trading function, both Maker and Taker are charged a 1% fee.

@Wallet

@Wallet is a custodial wallet for TON, using Telegram as a platform. Users can purchase tokens with bank cards, receive and trade tokens, and send them to other wallets.

Tonkeeper

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Tonkeeper is a non-custodial wallet based on TON, giving users more control. Its main functions include trading, transferring, sending, and receiving funds within seconds, and users can buy, sell, and trade TON through various Dapps like Uniswap. It also provides price charts for users to monitor token price changes.

Tonhub

Tonhub is a non-custodial wallet focused on high security and user privacy. Users can easily and securely access their wallets via PIN or biometric login and send or receive TON.

2. DEX

STON.fi

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STON.fi is an AMM DEX on the TON blockchain, offering nearly zero fees, low slippage, an extremely simple interface, and direct integration with TON wallets. STON.fi currently provides basic trading and liquidity provision functions but only supports a limited number of tokens such as AMBR, FNZ, BOLT, TGR, TON, and WTON. According to DeFi Llama data, the current total locked value of STON.fi is approximately $540,000, making it one of the more mature dApps on the TON chain.

TonSwap

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TonSwap claims to be the first open-source DEX on the TON blockchain, currently supporting only a few native tokens like AMBR, FNZ, BOLT, TGR, and cross-chain assets like USDC, ETH, and BTC. TonSwap is still in beta.

DeDust

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DeDust is a DeFi platform developed by Scaleton for TON and is the first application in Tonkeeper to fully switch to TON Connect 2.0, now supporting almost all available wallets on the TON blockchain. It currently offers a fully functional DEX (trading and liquidity provision) and portfolio estimation features.

3. Staking

TonStake

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TonStake claims to be the first and largest staking pool for TON, offering approximately 8.51% annual yield to TON stakers and charging users a 10% service fee. Additionally, TonStake provides APIs for third-party service providers to integrate staking functionalities. As of January 3, TonStake's total staked assets exceeded $4.2 million, distributing over $340,000 in staking rewards to users.

4. Socialfi

Ton.Place

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Ton.Place is a social media game where users can earn TON by posting exclusive content and sending messages to followers. Users simply log in to their Ton.Place account via Telegram and activate subscriptions to access all content creation tools. Players primarily earn TON through posting (the more likes a post receives, the more TON earned), sending messages (charging for private messages that can include up to 10 photos or videos), and referring friends (inviting friends to earn rewards based on their purchases and earnings).

5. NFT Market

Disintar

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Disintar is one of the major NFT trading markets on the TON chain. In addition to providing basic NFT trading functions, creators can publish their works as NFTs on the Disintar market without technical support. Furthermore, each user can create an NFT Room for transferring, selling, and storing NFTs. Currently, Disintar is still in beta.

TON Diamonds

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TON Diamonds is one of the major NFT trading markets on the TON chain, where regular users incur a 5% market fee when trading NFTs. However, users can reduce transaction fees by purchasing official diamond NFTs of different levels (Small Diamond------2% Fee, Medium Diamond------1% Fee, Big Diamond------0% Fee). Holders of diamond NFTs also have the opportunity to receive more airdrops, priority sales of NFTs, and participate in IDOs. Currently, TON Diamonds features six NFT project collections, including TON Diamonds and StickerFace Wearables, and users can also acquire NFTs through auctions.

Getgems

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Getgems is one of the NFT markets on the TON chain with the richest collection of collectibles. Users can buy, sell, mint, and transfer NFTs on the platform. Each transaction incurs a 5% fee to Getgems, but there are no fees for minting or transferring NFTs.

Fragment

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Fragment is one of the non-custodial decentralized NFT trading platforms on TON. Unlike other NFT trading markets mentioned above, Fragment is deeply integrated with Telegram, serving as a trading platform for Telegram-specific usernames and virtual numbers, with transactions settled in TON. The initial owner of a listing will receive all proceeds after deducting a 5% platform fee and conversion fees, and users can also bid for attractive and secure Telegram usernames.

6. Cross-Chain Bridges

Official Bridge

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Currently supports asset interoperability between two networks, BSC and ETH, and TON, with asset transfers limited to TON.

Orbit Bridge

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Orbit Bridge announced support for the TON network on December 1. In addition to the native asset TON, Orbit Bridge supports multiple chains including Ethereum, BNB, Klayth, and Polygon, covering assets like USDC, USDT, and MATIC for cross-chain transactions on the TON blockchain. Furthermore, Orbit Bridge has strengthened its collaboration with the TON blockchain, developing an AMM-based DEX called Megaton Finance based on the TON blockchain developed by Ozys, which will launch in January this year.

7. Launchpads

Tonstarter

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Tonstarter is the first native launchpad on the TON chain, providing venture capital for some promising early-stage projects. Tonstarter has already helped projects like Fanzee Labs raise funds and is currently seeking stablecoin, DEX, lending, and other related projects for deep collaboration and fundraising assistance.

TON Play

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TON Play is a GameFi launchpad, and its game developer acceleration program helps developers enter the Web3 space faster. Currently, there are 25 games in development and 50 games in preparation on the platform.

8. Domain Names

TON DNS

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TON DNS is the domain name service provider on the TON chain. Users must register ".ton" domains with a minimum of 4 characters and a maximum of 126 characters. The ".ton" domain NFT is similar to the popular ENS, allowing users to choose to store, gift, or sell their domain after obtaining it. For initially unregistered domains, a public auction will be held for bidding; TON domain NFTs can be sold on secondary markets like Getgems.

Overall, the TON ecosystem has corresponding applications to meet various user needs, but it is still in the early stages. Although the early Telegram team is no longer involved in development, the core developers and community of TON still maintain a certain level of collaboration with Telegram. With over 700 million users, Telegram provides a significant advantage for the future ecosystem development of The Open Network.

References:

https://www.m6labs.co/p/ton-ecosystem-overview?utmsource=post-email-title\&publicationid=679482\&postid=88077640\&isFreemail=true\&utmmedium=email

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