The TON network has been running for three or four years, but it did not begin to attract more attention until the beginning of 2024. There are not many leading projects on it, but #TON生态 a solid fundamental foundation has been established.
The increase of Meme coins has become an important way to break the circle of the public chain ecosystem. Compared with the development of TVL of ecological projects, Meme-driven popularity has become a more achievable method in the short term. Therefore, TON strongly supports Notcoin and has done enough marketing gimmicks before opening transactions. The main purpose is to use one or two MeMe coins to break out of the circle and become a popular public chain.
So this article will take a look at whether TON and Notion have potential, whether they can lead Web3 users to get rich quickly, and whether they can bring hundreds of millions of Telegram users into Web3 quickly.
The main contents of this article include:
The next public chain narrative, the core explosive power of TON
Notcoin is a meme with a golden key
Meme is a wealth-making flywheel for everyone
Notcoin Token Model
Notcoin estimated price
1. The next public chain narrative, the core explosive power of TON
Before introducing Notcoin, let’s take a look at its public chain Ton. Although we will not study its technology, we want to see if Ton has any relationship with Notcoin and whether it is an official Meme.
In addition, we also need to see whether Ton is a one-wave trend and whether we can continue to make money for a month, that is, have they completed the foundation building?
1. A little history about TON
TON is the first-layer blockchain developed by the Telegram team led by Pavel Durov in 2018. It is mainly designed for scalable cross-chain interoperability. It originally planned to issue a token called Gram and raised $1.7 billion in private placement. However, due to the prosecution by the SEC, the team abandoned further development of the platform in 2020.
But being in the Web3 industry does not mean you can stop doing it. After Telegram announced its withdrawal #Toncoin , since the project was open source from the beginning, community members Anatoliy Makosov and Kirill Emelianenko continued the development in 2021, and later established the TON Foundation, which is responsible for the operation of Toncoin.
2. Telegram is expected to become a Web3 super application
The main reasons why the TON Foundation did not abandon the development of Toncoin are:
1. Telegram has 800 million active users worldwide. By implanting wallet, transaction, payment and other functions into Telegram using mini-programs, this integration can attract more attention for an application with a user base and successfully become a super application platform.
2. Inspired by WeChat, TON/Telegram hopes to revolutionize the application ecosystem by integrating mini-programs, allowing third-party developers to provide a large number of services directly within Telegram.
The founder of Telegram once said that he would not enter Web3 but would provide platform support for Web3 (in fact, Telegram has directly invested in TON). In cooperation with the TON Foundation and leveraging the power of blockchain, Telegram is laying the foundation for a decentralized mini-application ecosystem (Telegram Mini Apps). This collaboration marks a major leap forward in integrating web3 functionality, providing users with a seamless transition from traditional web2 services to the emerging world of decentralized applications (dApps).
It is always hard to understand what Westerners say. From our own understanding, Telegram, seeing the success of WeChat, also wants to be a super application. This is a normal business model for Web2 teams, because with this business model, the project can apply for IPO and issue stocks. Many domestic teams have done this, such as Weibo, Douyu, and Qutoutiao.
3. TON is a bridge between Web2 and Web3
The smooth launch of the TON Space wallet allows users to easily switch back and forth between web2 and web3 services within the Telegram ecosystem.
Just like WeChat or QQ, you can use "WeChat coins" or "Q coins" to access all applications in the Tencent ecosystem, and you can also make offline payments.
This reminds me of Twitter. Judging from Twitter’s various actions, Twitter also wants to have various functions of Weibo. It is very likely that they will use Dogecoin or launch another meme coin to drive Musk’s X-chain in the future.
3. From a technical perspective, TON has become the fastest L1 blockchain
TON uses a sharded, POS consensus mechanism that can process transactions in parallel to increase speed. In the TON ecosystem, Toncoin (TON) is the main utility and payment token. It plays a vital role in transaction fees, staking, governance, and peer-to-peer payments. In addition, Toncoin is an integral part of decentralized exchanges (DEX), decentralized finance (DeFi) platforms, and decentralized governance (including voting on network changes) functions.
DWF Labs’ announcement a year ago when it invested $10 million in the TON ecosystem said three sentences:
1. TON officially became the world's fastest and most scalable blockchain, achieving 104,714 transactions per second.
2. TON and Telegram jointly release Wallet to 800 million users, with the goal of becoming a SuperApp.
3. Cooperate with Tencent Cloud and Chainbase to simplify the development of mini-programs for developers.
DWF Labs says this for a reason, because TON's core is built for high performance and scalability, and its dynamic sharding mechanism can process transactions quickly. This architecture ensures that the network can process millions of transactions per second and scale effectively as the number of users grows, making it an ideal choice for developers who aim to launch applications for hundreds of millions of users without compromising speed or security.
From this point of view, TON does have the strength to challenge Ethereum and SOL:
To ensure the normal operation of these transactions, TON is built as a multi-component ecosystem, including TON Blockchain, TON Storage, TON DNS, and TON Services, all of which are integrated together to operate seamlessly.
summary
TON's close collaboration with Telegram aims to become a SuperApp, just like WeChat for Web2, providing various ecological development and transaction interfaces for the Web3 ecosystem through Telegram social software, which is much faster than any SocialFi public chain.
The collaboration between the TON Foundation and HashKey also confirms that TON is expected to achieve its goal of 1.5 billion monthly active users by 2025, especially with its expansion in Asia.
Currently, the TON network has integrated hundreds of ecological projects and is showing a trend of expansion.
The TON ecosystem has grown rapidly recently, surpassing DOGE in market capitalization to become the ninth largest token (mcap TON is almost equivalent to $24 billion)
In addition to TON’s own development, Telegram is also working hard to empower TON. Telegram’s decision to share 50% of advertising revenue with creators on the TON blockchain has further stimulated interest and investment in the token.
The maximum supply of Toncoin remains undetermined in December 2023. The total supply is reportedly close to 5.1 billion, with more than 3.4 billion in circulation. As validators are rewarded for their contributions to the network, the amount of TON in circulation is expected to gradually increase.
2. Notcoin is a meme with a golden key
The reason why Notcoin is said to be a meme that was born with a golden key is that Notcoin is a meme project officially supported by Ton Chain, and it is responsible for bringing Ton Chain out of the circle.
Why do I say so?
Let’s take a look at the team behind Notcoin
Notcoin is a mini-game created by Open Builders founder Sasha Plotvinov and his team in Telegram Mini Apps.
Open Builders is not simple, it is an organization dedicated to financing projects on the TON blockchain, that is, Open Builders is an investment bank. It is related to Tonstarter, which successfully raised $1.5 million in seed funding last year specifically to support projects based on the TON blockchain.
In addition, TON’s official Twitter account has also retweeted Notcoin-related tweets many times. Notcoin’s official Twitter account currently has 1.5 million followers.
Not only that, Telegram founder Pavel Durov also promoted Notcoin and expressed his strong support for the Notcoin project:
How to play Notcoin
The essence of Notcoin's gameplay revolves around its innovative Tap-2-earn feature. This intuitive mechanic allows players to accumulate Notcoins in their profile by tapping the central Notcoin icon. With each tap, players earn a certain amount of Notcoins;
To sum up:
Multiple clicks: Each click increases the amount of Notcoin you mine
Energy limit: Increase the total amount of Notcoin that can be mined by increasing the energy limit
Recharge Speed: Reduce the time required for Notcoin energy to recharge
Auto Tap Bot 2.0: This feature automatically mines Notcoin when offline for more than 60 minutes
The intuitive gameplay is as stupid as the one in the video. Doesn’t it look very much like Pi coin?
It is this magical gameplay and recommendation mechanism that made Notcoin a meme and quickly accumulated 30 million users, surpassing the total number of Solana users in 23 years.
3. Meme is a wealth-making flywheel for everyone
It was precisely because of Notcoin’s early hype and the magical version of the game that the project quickly accumulated a group of original users and allowed everyone to have coins in their hands. The next step was to open up transactions.
Maybe many people don't like memes. Memes are not always sent out to hurt others. This is different from the fact that anyone on Sol can use Pump to send memes with one click. A good meme distributes the chips to everyone, allowing everyone to market and automatically form a community, contributing to the development of the project.
Therefore, for the industry, meme is the soul of activating the market.
Arthur Hayes, co-founder of BitMEX, once said that labeling all memecoins as "stupid" obviously ignores the potential positive impact of memes on blockchain. Memes have a strong appeal and can attract new users and engineers into the ecosystem. Arthur Hayes summarized it as follows:
Arthur Hayes highlighted the potential positive impact of memecoins on blockchain networks, attracting attention and new participants;
Memecoin can contribute to blockchain growth and development activities, just like Solana and Bitcoin;
memecoin attracted young cryptocurrency investors, capitalizing on their “gaming mentality”;
Despite the risks, meme coins remain the best performing asset class in the cryptocurrency space;
Ethereum co-founder Vitalik Buterin encouraged the search for memecoins to be used for charitable causes rather than rejecting them outright.
The industry generally believes that whether a meme can take off depends on four factors:
Story (Theme)
Community
Coin holding addresses
Marketing capabilities
funds
At least three of these four elements must be met to succeed. Although a meme does not require a very powerful founder, the market value of an unknown project will not be very high, nor will it survive for long, and large firms will not invest in it.
Notcoin positioned itself as the "maybe nothing" meme, and its white paper only has a few pages, but it is all blank. Facts have proved that people in the cryptocurrency circle like this simple and plain way of playing.
Notcoin basically meets all the above factors. More importantly, there are tens of millions of coin holders. Although most of them can only exchange a few hundred U of funds in the end, if half of them hope that it will rise and contribute to the expectation of rising, then FOMO will easily arise.
As LD Capital said: Currently, the rise of meme coins has become an important way for the public chain ecosystem to break through. The TON ecosystem is currently in a relatively early stage, but backed by Telegram's huge number of users, its development potential is unquestionable. Compared with the development of TVL of ecological projects, meme-driven popularity has become a more achievable method in the short term. Overall, the Notcoin project has received official support from TON and has a huge user base, and has the opportunity to become a meme coin choice that breaks through the circle. However, the risk is that the current token economy is still unclear. More than 20 million US dollars of NFTs have been circulated before the secondary listing, and there is a lot of selling pressure when it is launched, but based on fundamentals, it is believed that the project has potential in the medium term.
4. Notcoin Token Model
$NOT is the Notcoin project community token and can be used for the following functions:
Explore: Users earn money when they discover web3 products
Play: Users can earn tokens by participating in new games
Contribution: Users gain benefits by adding value to the ecosystem
Offer: web3 builders can offer their products to the community through Notcoin events
Token name: Notcoin ($NOT)#NOT
Initial circulation: 102,719,221,714 $NOT (100% of the maximum supply of tokens)
Total Tokens: 102,719,221,714 $NOT
Binance Launchpool allocation: 3,081,576,651 $NOT (3% of total tokens)
5. Notcoin estimated price
Notcoin launched NFT in March, allowing players to convert $NOT into NFT vouchers first, which can be traded in advance and exchanged for tokens after the token is launched, with a ratio of 1000:1.
Currently, there are more than 20 million US dollars of NFTs in circulation before the secondary listing. The pre-market trading of NOT on Aevo has already risen, and the current quotation is 0.0093u. At this price, the market value will almost reach 1 billion when it opens.
Compared with FISH, the number one coin in the current TON ecosystem, its current market value is 39 million, so Notcoin is very likely to reach its peak at the opening. It depends on whether the 30 million users in the future can create another meme effect and help the TON ecosystem truly stand out.
It will be fully circulated at the opening, and miners are allocated 78% of the coins. There should be considerable selling pressure when it goes online, so it is recommended that everyone take over with caution.
In short, Notcoin’s success demonstrates the potential of Telegram Mini Apps in the Web3 field. As the head of CoinW said:
At the moment, Notcoin is just a memecoin, a game that may become important in the future. However, Notcoin has made a huge contribution to the popularization of cryptocurrencies, and now you can meet a child who mines Notcoin by tapping the screen of his mobile phone, as well as a grandma who "taps" on the screen while riding the bus at 6 am.
In turn, many marketing experts emphasized that people can earn money not only through empty operations such as "clicking" on the screen, but also by studying the TON ecosystem, which improves people's crypto knowledge and popularizes cryptocurrencies among all Telegram users. As of January this year, the number of active Telegram users was about 800 million, accounting for about one-tenth of the total population on the planet.
In the future, more projects will follow Notcoin’s lead and launch projects on Telegram Mini Apps. I believe that building on TON and leveraging Telegram’s user base is the key to driving market value growth.
Binance Research Report: https://www.binance.com/zh-CN/research/projects/notcoin
Binance Launchpool time: 08:00, May 13, 2024 (GMT+8)
Notcoin will be listed on the Binance exchange at 3 pm on May 16. Users need to log in to the Notcoin Telegram Bot and choose where to withdraw Nots. Currently, the following options are available for withdrawing $not:
Withdraw to Telegram wallet (from May 16)
Withdraw to the exchange (from May 16)
Stake for 30 days
What factors should you consider when investing in cryptocurrencies?
Investing, betting or trading cryptocurrencies requires caution. Please keep the following factors in mind to avoid serious losses.
DYOR: Do your own research, find more suitable cryptocurrency earning tools, and delve deeper into this field.
Set up a stop-loss mechanism: Pay attention to stop-loss orders to limit potential losses.
News Tracking: Follow Toncoin official news to always know the latest developments.
Ensure safety: There are many fake official promotions now, so be careful to verify and avoid having your wallet stolen.
