Investors’ excitement over airdrops and other incentives fueled TON Network’s TVL, but how sustainable is this strategy?
Toncoin (TON) is the native coin of The Open Network, a layer-1 blockchain initially developed by the Telegram messaging app. The TON ecosystem is largely driven by Telegram’s 900 million active users.
Despite being relatively new to the decentralized applications (DApps) ecosystem, the TON Network has surpassed Optimism to become the tenth largest blockchain in terms of total value locked (TVL).
On June 26, Bitget crypto exchange and Singapore-based investment firm Foresight Ventures announced a $20 million TON ecosystem fund to support early-stage projects and TON-based applications. Previously, the exchange had launched an official Telegram signal trading recommendation bot, enabling group owners to integrate this functionality at no cost.
