Organization dedicated to advancing initiatives on The Open Network (TON) blockchain, the TON Foundation, revealed its collaboration with the decentralized exchange (DEX) aggregator Jupiter. This partnership aims to foster the development of a new liquidity aggregator within the TON Virtual Machine (TVM). The effort seeks to enhance liquidity aggregation on the TON blockchain and lay the groundwork for cross-chain swap integrations, contributing to the evolution of decentralized finance (DeFi).
Jupiter functions on the Solana blockchain, providing a decentralized alternative to traditional centralized exchanges (CEXs). Introduced in 2021 by the developer Meow, it consolidates liquidity from multiple DEXs and automated market makers (AMMs), such as Raydium, Serum, Orca, Saber, Penguin, Mercurial, and Supernova.
“TON is one of the most exciting and untapped blockchains in the space, with immense potential for growth once the ecosystem is unlocked,” said Meow, Co-founder of Jupiter, in a written statement. “This is an awesome initiative by the TON Foundation to grow the space, and we are delighted to support and get to know the best talent here,” he added.
TON Foundation And Jupiter To Drive DeFi Development Through Competition
In order to start this collaboration, the TON Foundation and Jupiter are introducing a DeFi competition aimed at driving innovation within the TON ecosystem.
The competition invites both existing and in-progress aggregation projects on TON to present their solutions and compete for notable rewards. Winning projects will gain advisory support from Jupiter, offering guidance on go-to-market strategies, route optimization, and liquidity management—key insights from a prominent player in DeFi and aggregation. Additionally, winners will receive backing from the TON Foundation, providing them with access to resources and funding to accelerate growth and adoption within the TON ecosystem.
The competition is currently open, with winners set to be announced on February 15th. Participants are expected to submit their DeFi solutions, demonstrate their features, and engage with the community throughout the process.
TON Foundation teams up with @JupiterExchange to incubate new liquidity aggregator on $TON blockchain!
To celebrate this cooperation, TON and Jupiter are launching a DeFi competition to drive innovation with participants winning advisory support, TON Foundation backing & more!… pic.twitter.com/VFdaY0PmS1
— TON 
(@ton_blockchain) December 30, 2024
The TON Foundation supports projects within the TON ecosystem while maintaining a non-controlling stance over TON technology. It is one of many contributors to the decentralized TON community. In its latest efforts, the organization has actively worked to promote new opportunities in DeFi.
Recently, the TON Foundation has partnered with GMX, a decentralized perpetual exchange and spot trading platform. This collaboration seeks to advance DeFi innovation by focusing on high-frequency trading and optimizing transaction fees within the TON ecosystem.
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