TON Accelerator, the incubation project of The Open Network Blockchain, has launched a new initiative to accelerate innovation and adoption within the TON ecosystem.
On November 4, the TON Accelerator team announced the launch of a $5 million program where selected projects will receive strategic support as they develop on the TON blockchain. The program is backed by TON Ventures and Mantle EcoFund.
The launch comes as the Telegram-powered blockchain network continues to grow significantly, with a strong crypto gaming ecosystem driving its adoption.
As the total value locked in the TON ecosystem continues to grow, the prospects for Toncoin are promising
TON Accelerator Launches “Synergy Effect”
As more projects target Telegram’s 950 million user base by launching decentralized applications on TON, TON Accelerator has launched “Cohort 2.0: Synergy” to drive further growth.
In the initial incubation program, which launched in September at a cost of $2.5 million, five projects received funding and practical support designed to help them transition from concept to product.
Synergy is the latest batch of projects that aims to build on this initial product. Selected projects will be supported by a $5 million fund from TON Ventures and receive mentoring and guidance. Through these initiatives, TON Accelerator aims to promote cross-chain innovation and product development for TON and layer 2 scaling solution Mantle.
The plan will not only connect the TON ecosystem to Telegram’s nearly 1 billion users, but will also help unlock a potential $90 billion in cross-chain liquidity. Key areas of focus include decentralized finance, cross-chain gaming, and staking.
Currently, the TVL of the TON ecosystem has increased to more than $707 million. According to DeFiLlama, the TVL was about $75 million at the beginning of this year and reached $1.13 billion in June.
