Since 2024, the TON (The Open Network) ecosystem has attracted much attention from the market, and has been developing at a "rapid pace" all the way, with many dark horse projects emerging one after another. Backed by Telegram's huge user base, coupled with Binance's continuous promotion and the issuance and supply of USDT stablecoins, TON ecological projects and infrastructure are growing rapidly.

On September 14, according to statistics from the TON official website, the entire ecosystem currently contains more than 1,200 projects. The current TON ecological applications cover 19 categories including Staking, wallets, cross-chain bridges, social, chat, games, tools, decentralized exchanges (DEX), lending, etc., and have gradually formed a complete ecological system.

You should know that at the beginning of March this year, there were only about 500 TON ecological projects. In just 5 months, the number has doubled, and the number of tokens has increased several times, especially the rapid growth of games and Defi projects. So, what is the reason for the explosion of TON ecology? This article will analyze the current status and future trends of TON ecology from several key points in the near future.

TON ecosystem continues to be hot, and it is inseparable from the support of Binance

Binance continues to exert its strength in the TON ecosystem, which has once again attracted the attention of the market. Recently, Binance Launchpool has launched a number of popular TON ecosystem projects, including Notcoin, TON, DOGS, Catizen and Hamster Kombat. In addition, Binance has also invested in Telegram trading app Blum and Catizen's publishing platform Pluto Studio. The launch of these projects has not only further expanded the application scope of the TON ecosystem, but also attracted more users to participate.

Catizen (CATI) and Hamster Kombat (HMSTR) are Binance's two latest Launchpool projects, which will be launched on Binance soon. According to Binance's announcement, users can put BNB and FDUSD into the CATI reward pool through Launchpool after 08:00 (ET on September 16, 2024) to participate in the event for 4 days. Subsequently, users can also put BNB and FDUSD into the HMSTR reward pool after 08:00 (ET on September 19), and the HMSTR event will last for 7 days.

Catizen is a cat-themed game that combines the metaverse, GameFi, and AI technologies. The project launched a revolutionary "play-to-airdrop" model, where players can earn future airdrop rewards while playing games. Since its launch, Catizen has attracted a large number of users, especially Telegram Premium users, and its on-chain active players have exceeded 2 million, indicating its high popularity in the TON ecosystem.

Hamster Kombat is a mini-program platform based on Telegram and TON chain, which aims to simulate the P2E (Play-to-Earn) game of the CEO of a cryptocurrency exchange. According to the official announcement, the number of Hamster Kombat users has exceeded 100 million, with 32 million daily active users, making it one of the top meme coin projects on the TON chain.

USDT issuance on the TON chain exceeds $730 million, further boosting liquidity within the ecosystem

Since the TON Foundation announced the issuance of USDT on April 18, 2024, the total supply of USDT on the TON network has soared to $730 million in just four months. This growth has made USDT the fifth largest stablecoin in the world in terms of market value on the TON chain, second only to Tron, Ethereum, Avalanche and Solana, showing its important position in the stablecoin market.

The rapid growth of liquidity is crucial to the expansion of the TON network. It not only supports a wide range of financial and technological applications, but also provides a solid foundation for financial transactions within the network, promoting the popularity and application of TON. Data shows that USDT peer-to-peer (P2P) transfers on the TON chain are particularly active. The median amount of most transactions is between $15 and $100, indicating that it is widely used in daily small payment scenarios.

Additionally, the TON network’s low transfer fees further enhance USDT’s appeal for everyday transactions, with an average transaction fee of just 4 cents, making it ideal for retail and everyday financial interactions.

At the same time, the decentralized finance (DeFi) ecosystem on the TON chain has also developed rapidly due to the existence of USDT. In TON's decentralized exchanges, such as Ston.Fi, Dedust, and StormTrade, USDT has become a core circulating asset, greatly promoting the prosperity of DeFi activities within the TON ecosystem.

With the support of Binance and USDT stablecoin, the TON ecosystem continues to prosper

As a blockchain network centered on decentralization and Web3 applications, the expansion speed and scale of the TON ecosystem have exceeded many market expectations.

Binance frequently launches TON ecological projects, which continuously attracts market attention and more users. In addition, the successful integration of USDT provides sufficient liquidity guarantee for the TON network. The supply of USDT on the TON chain has exceeded 730 million US dollars, becoming an important force in the stablecoin market. The rise of wallet applications and DeFi projects has further enriched the ecological applications of TON.

However, TON still faces some challenges in its future development. First, the continuous improvement of infrastructure is the key to future growth, especially in the innovation capabilities in the cross-chain bridge and lending fields. Second, community governance and user education still need to be strengthened to ensure the sustainable development of the TON ecosystem. Finally, the arrest of TG’s founder and the compliance issues related to it are still unresolved, which is also a big “time bomb” for the development of the TON ecosystem.