The Open Network (TON) could be the key to unlocking the mainstream adoption of cryptocurrencies and decentralized technologies.
The TON blockchain’s virality is largely attributed to its relationship with the messenger app Telegram and its over 950 million users who can access TON-based blockchain applications directly via the messenger app.
This dynamic could make TON the catalyst for true mainstream decentralized finance (DeFi) adoption, according to an Oct. 17 report by GSR, which states:
“While most of the attention around TON has focused on applications in the gaming and social segments, we believe that the TON+Telegram ecosystem also offers great potential for DeFi to finally break beyond its primarily crypto-native audience in what amounts to a massive opportunity that hasn’t received due attention.”
The prediction raises a hopeful sign for the struggling DeFi sector, which has been underperforming other crypto niches.
Between January 2022 and September 2023, tokens associated with DeFi protocols were down 72%, while memecoins were down 35%, and smart contract-related tokens fell 48%, according to Artemis data.
Crypto sectors price performance. Source: Artemis, GSR
TON surpassed Ethereum and L2s in active addresses
Thanks to continued adoption, TON has surpassed some of the most popular blockchains in terms of monthly active addresses.
Ton, Ethereum, Polygon PoS, Arbitrum, OP, monthly active addresses. Source: GSR
The report stated:
“Monthly active addresses on the network grew from around 100,000 in September 2023 – when Telegram introduced its integrated wallet – to 9.9 million in September 2024.”
This puts TON ahead of Ethereum’s 5.5 million active addresses recorded in September 2024 and ahead of other Ethereum layer-2 (L2) networks and sidechains like Arbitrum, OP Mainnet and the Polygon PoS chain.
However, the report added that Coinbase’s Base blockchain and Solana still have a higher number of monthly active users.
Tap-to-earn games like Hamster Kombat are attracting new users to the blockchain
Tap-to-earn games, such as the viral TON-based Telegram clicker game Hamster Kombat, are attracting new mainstream users to the blockchain.
Within five months of its launch, Hamster Kombat surpassed 300 million users, as the game started gearing up for what it claimed to be the “largest airdrop in the history of crypto.”
According to the report, this makes Hamster Kombat the world’s second most-played mobile game, coming close to Subway Surfer’s 304 million downloads.
Mobile game downloads, Hamster Kombat users Source: GSR
According to GSR data, Telegram is currently the eighth most popular social media platform worldwide, with over 950 million monthly active users. Telegram is a significant part of the success behind these games.
Top social media platforms by monthly active users. Source: GSR
Others also believe in Telegram’s onboarding potential. Notably, Telegram could be a “Trojan horse” for mass crypto adoption, according to Justin Hyun, TON Foundation’s director of investments.
He told Cointelegraph:
“Bringing 500 million people on-chain by 2028 — which is our goal — is going to require use cases that interact with the blockchain without the user knowing that in the front end.”
The viral Web3 clicker game could be included in the Guinness World Record as the first YouTube channel to gain over 10 million subscribers in one week (six days, 13 hours, and 15 minutes).
The Truth on Hamster Kombat: Revolution or Scam? Source: YouTube
Magazine: Clicker games to fade post-airdrop, Is Hamster Kombat any good? Web3 Gamer
