I. Introduction

The TON (The Open Network) ecosystem is developing rapidly and attracting a lot of attention. Multiple projects based on TON have demonstrated its potential, especially projects represented by NOT, which have achieved remarkable results in a short period of time. This article will analyze the current development status of the TON ecosystem in detail, focus on some of the representative projects, and explore the future development direction of the TON ecosystem.

NOTcoin and its token NOT

NOTcoin is a clicker game on the TON blockchain, and its token NOT has performed well in the market. NOT's price once exceeded $0.0283, with a market value of $2.1 billion, ranking 62nd in the cryptocurrency market, and a 24-hour trading volume of $4.7 billion. As a representative project of the TON ecosystem, NOT's success has attracted widespread attention from the market.

3. Project Progress:

The project is currently in its third phase, with the number of users exceeding 35 million and 6 million daily active users.

It was launched in January this year. After several updates and adjustments, it was officially launched on multiple mainstream exchanges in May and quickly gained market recognition.

NOT Token Controversy:

There is controversy in the market about the classification of NOT. Although it is based on game applications, its application scenarios and token consumption patterns are more like Meme coins.

If NOT is regarded as a Meme coin, its market value and price are expected to continue to rise and become an important tool for the TON ecosystem to attract Web2 users.

Other potential projects

1、Hamster Kombat：

A Tap2Earn management simulation game with over 60 million users and over 10 million followers on its YouTube channel.

2、CatizenAI：

The cat-raising game based on the Web3 mini-game distribution platform Pluto Studio has exceeded 12 million users and over 730,000 on-chain users.

3、Tapswap：

Tap2Earn, a mining game similar to Notcoin, has attracted a large number of Nigerian players.

4、Yescoin：

A Notcoin clone that just won the second place in the App competition in The Open League.

5、Ston.fi：

The AMM DEX on the TON chain provides low-fee and low-slippage trading services and recently completed a new round of financing.

4. DeFi development of TON ecosystem

In the first quarter of 2024, DeFi activities in the TON ecosystem grew significantly, especially in the areas of DEX (decentralized exchange) and liquid staking.

DEX and memecoin hype

The launch of Notcoin has led to a trading boom in memecoin on the TON chain, with DEX trading volume hitting a record high of US$60 million.

STON.fi and DeDust are the main DEXs that provide enhanced liquidity pools and drive TVL growth in the TON ecosystem.

Liquid pledge

Tonstakers excelled in the liquid staking space, pushing TON into the top 20 chains by TVL.

Stakee and Whale Liquid are new liquid staking protocols that have attracted a large number of Toncoin holders.

Loan Agreement

The EVAA protocol went live on the TON mainnet with a total supply of $26.1 million and a total borrowing amount of $12.03 million.

DAOLama launches its internal token RP to encourage users to participate in lending activities.

Oracle

RedStone became the first oracle on TON, providing connection services between the blockchain and the outside world and ensuring the data integrity of smart contracts.

Looking ahead

Jetton (token) on the TON blockchain is opening up new niches, beyond traditional utility, and represents the diversification of digital assets. As the demand for DeFi infrastructure increases, the TON ecosystem will continue to develop and attract more users and projects to participate.

Summarize:

The TON ecosystem has grown rapidly through innovative projects and strategies, especially the use of Web2 applets and Web3 mining models. In the future, the TON ecosystem is expected to achieve large-scale adoption and become an important member of the blockchain industry.