In the ever-evolving world of cryptocurrencies, the The Open Network (TON) ecosystem has made significant strides this year. Telegram, with its 900 million monthly active users (MAU), represents one of the largest distribution channels for Web3-adjacent users. Being perceived as more secure and protective of user privacy, the messenger has established itself as the primary crypto communication app. Every non-US user automatically receives an abstracted crypto wallet upon registering on Telegram, making the TON ecosystem one of the strongest candidates to push Web3 adoption at scale.
With the rise of TON itself (having a market cap of $18.26 billion as of this writing and hitting its all-time high of $8.25 on June 15, 2024), numerous projects have emerged, capturing the attention of the crypto community. The TON ecosystem currently features over a hundred coins, categorized into various segments such as utility tokens, meme coins, DeFi projects, and NFT-related tokens. According to recent statistics, the TON blockchain is experiencing significant activity with over 4.70 million transactions per day, about 367K active daily wallets, and around 8.1 million NFTs minted. Additionally, there are 50.84 million Toncoin locked in liquid staking. Moreover, the integration of USDT (Tether) on TON is now live across over 60 platforms worldwide, including marketplaces, travel platforms, exchanges, and wallets, extending the TON blockchain's connectivity.
Still, the TON ecosystem is flooded with speculative coins and extremely volatile meme tokens that are difficult to predict and unsuitable for long-term investment. However, some coins within the network offer real utility and have a high probability of being in demand in the future. From TON's promising lineup, a trio of projects catches the eye, boasting solid foundations and a winning formula for long-term success. In the post-halving era, the crypto market's overall growth is projected to surge, which could give these projects an extra boost.
1. Notcoin (NOT)
Notcoin (NOT) has been one of the most talked-about projects in the TON ecosystem. Developed by Open Builders, Notcoin initially appeared as the first tap-to-earn project in the crypto and Web3 space. Launched as a Telegram mini-app in January, Notcoin quickly became a sensation in the gaming community, attracting over 35 million players and 6.5 million daily active users, who earn real NOT tokens by participating in the game and other community activities.
Source: notco.in
The value of the Notcoin airdrop, which distributed tokens to 11.5 million people, reached $2.5 billion. The NOT token was listed on major cryptocurrency exchanges like Binance. According to the latest data, players have accumulated around 65 trillion game coins in total.
Notcoin offers additional earning opportunities through in-game tasks and referrals. Tasks include subscribing to Telegram channels and participating in community activities, while referrals involve inviting friends to join, with higher bonuses for Premium Telegram users. Players can also join squads for collective rewards and compete in leagues: Bronze, Silver, Gold, Platinum, and Diamond.
The total supply of NOT tokens is 102.7 billion, with 78% allocated to early miners and voucher holders, and 22% reserved for new users and development. A 1,000:1 conversion ratio bridges in-game Notcoins to NOT tokens. Additionally, Notcoin employs a burning mechanism to reduce supply, with $3 million worth of NOT tokens already burned and plans to burn or distribute another $5 million.
Future incentives include $4.2 million worth of Notcoins for Gold and Platinum users in the Notcoin Explore initiative. Notcoin Explore, the platform for launching Web3 projects, has also gained significant traction. Over 200 projects have already launched community activities via Notcoin, with 22.5 million users participating. The minimum rewards amount for campaigns is $20,000 in Notcoin tokens, and the average cost per completed campaign is $0.10 to $0.20.
2. GOMINING
GOMINING is a standout utility token on a platform that tokenizes hashrate, simplifying entry into the mining space for everyday users and OTC traders. Although the TON-based GOMINING token has just been launched, it is a native token of GoMining, a premier Bitcoin mining company with nine data centers worldwide, which already has Ethereum (ERC-20) and Binance Smart Chain (BEP-20) GOMINING tokens integrated into its ecosystem.
GoMining offers industry-first NFTs (digital miners) backed by real shares of computing power ranging between 1 and 5,000 TH/s for each digital miner through the Liquid Bitcoin Hashrate (LBH) protocol. In this system, while the physical mining equipment and its corresponding hashrate operate in the GoMining data centers, users own a digital miner that represents their share of the hashrate. Users can purchase as little as 1 TH/s and easily upgrade their miners’ power and energy efficiency with just a few clicks.
Source: gmt.io
GOMINING tokens can be used for purchases and upgrades of these NFTs. They can also cover daily maintenance fees with an additional 10% discount. The platform's user-owned hashrate power has grown significantly, coming in at around 4,524,801 TH/s currently. About 67.5% of all electricity expenses paid by about 70K digital miners' holders are settled in GOMINING, equivalent to more than $100,000 per day or $3 million a month. This ongoing demand for GOMINING due to electricity discounts underscores the token's utility.
Source: App.gmt.io/marketplace
Another key feature of GOMINING is its deflationary tokenomics design. Tokens collected as payment for electricity are regularly burned, reducing the circulating supply and increasing the token's value. For example, in July 2024, 17% of tokens received for electricity payments were permanently burned. With a target supply of 100,000,000 tokens, over 15,000,000 of the initial 436,915,240 tokens have already been removed from circulation. This model, along with other factors, has resulted in the token's price increasing 138% over the past year.
Additionally, GOMINING tokens can be used for staking purposes. Currently, 27% of the total GOMINING supply is locked for an average period of over two years, earning up to 22% APR, demonstrating strong community support and long-term commitment to the project.
GOMINING's prospects are further bolstered by industry support, evidenced by a recent $3,000,000 investment from Bitscale Capital. The international venture capital fund acquired $3 million worth of equity in the form of GOMINING tokens and NFTs. Hence, from a financial standpoint as well, this project looks promising for long-term success.
3. STON.fi (STON)
STON.fi (STON) is a cutting-edge decentralized automated market maker (AMM) built on the TON blockchain, designed to provide users with seamless, instant swaps of Toncoin for any coin or token at the best available rates. Offering virtually zero fees and low slippage, STON.fi stands out with its intuitive interface and direct integration with TON wallets, making it an attractive option for both novice and experienced traders.
One of the key features of STON.fi is its low to zero slippage, achieved through sophisticated algorithms and well-maintained liquidity pools. The TON blockchain's inherent low-fee structure translates to almost non-existent trading costs on STON.fi, significantly enhancing the user experience.
As of now, STON.fi boasts impressive statistics, including a Total Value Locked (TVL) of $302.77 million, and a market cap of $24.93 million.
Source: DeFiLlama
Looking ahead, STON.fi has an ambitious roadmap. In Phase I, the platform plans to introduce SDK cross-chain capabilities and integration between TON and TRON. Phase II will extend cross-chain capabilities to Polygon and other EVM-compatible chains, alongside the introduction of stableswap routing for more efficient stablecoin swaps. Phase III will see the integration of extra chains for broader interoperability and the development of a cross-chain trustful protocol to ensure secure transactions across different blockchains. Phase IV will implement DAO governance to decentralize decision-making and launch a Telegram bot facilitating cross-chain swaps directly within the app. Phase V is rolling out gasless swaps, margin trading, and a limit order book, opening the door to a whole new world of trading possibilities.
As the platform progresses, it's slated to unveil multiple groundbreaking additions that are expected to further catapult its utility and popularity within the DeFi space.
Conclusion
As the TON ecosystem continues to make waves, projects like Notcoin, GOMINING, and STON.fi are driving the momentum. Millions of gamers are flocking to Notcoin, drawn in by its refreshing take on in-game earnings, which has solidified its position as a major player in the Web3 space. GOMINING disrupted the Bitcoin mining status quo by successfully tokenizing hashrate. With a strong focus on accessibility, STON.fi is taking DeFi to the next level, primed for a major expansion as well. Together, these projects are creating a chain reaction of innovation and creativity that shows no signs of slowing down and seem to be paving the way for a promising future.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.