HOT Labs receives a $500,000 grant from the TON Foundation to create the TON Memecoin platform

ChainCatcher news, the TON Foundation has granted a $500,000 funding to the blockchain developer HOT Labs. This funding will be used to create a platform for deploying and running memecoins on TON.

HOT Labs is one of the first beneficiaries to receive funding from the TON Foundation. After receiving the $500,000 grant, the beneficiaries are required to set KPIs, submit a project progress report every two weeks, and provide regular project updates. The TON Memecoin Working Group will support beneficiaries, including HOT Labs, by leading and facilitating marketing and business development efforts.

HOT Labs is a research team that has built multiple products around Chain Signature, founded by Petr Volnov and Yuriy Olentyr.