With 40 million users and 6 million daily active users, Notcoin is considered to be another popular project in Telegram ecosystem after TG bot. With its star halo and meme attributes, it has received official support from TON. Its token NOT has been listed on Binance, OKX, LBank and other exchanges, attracting more than 30 million users to trade, and successfully popularized Telegram mini app and TON ecosystem.
This traffic has also boosted other TON projects that have not yet issued tokens, such as Hamster Kombat, which has exceeded 150 million users (expected to issue tokens in July), and Catizen, which has 20 million users. These impressive user data are a height that most crypto projects cannot reach. Currently, more than 100 million people are playing the Tap to Earn game on Telegram. Telegram seems to have found a way to effortlessly get the next billion users into the cryptocurrency field.
What benefits does the introduction of Mini App bring to Teleram users?
For a long time, the adoption of cryptocurrency has been hindered by multiple factors. The obstacles surrounding Mass Adoption can generally be classified into the following categories: lack of compliant entry and exit channels for institutional funds, high entry barriers for ordinary users and lack of trust, imperfect developer ecology, infrastructure unable to support large-scale applications, and lack of investment targets that meet the public's tastes.
Or from a more intuitive perspective, the core of achieving mass adoption is: low threshold and fission effect.
Undoubtedly, Notoin, the hottest topic on Telegram, Hamster Kombat, provides a good reference for the popularization of web3, which is largely due to the emergence of mini App.
Mini App is a web application fully embedded in the Telegram environment, providing a user experience similar to native applications and a highly flexible platform that supports a variety of interfaces built with JavaScript. In addition, the mini program also supports common payment methods from 20 payment providers, including Google Pay and Apple Pay.
Imagine giving millions of people access to cryptocurrencies through Telegram’s mini-apps, an open platform for projects to build and deploy crypto-friendly applications. This would enable crypto teams to distribute their products to non-crypto users, who may not be aware that they are using a crypto product — whether it’s a fun clicker game like Notcoin or a DeFi protocol.
With the support of stablecoins, the TON ecosystem is thriving
On-chain data shows that TON's total locked-in volume has reached US$615 million, and its TVL has increased by 26.95 times since March 2024.
Not only that, according to the on-chain active wallet data, the number of activated wallets on the chain has reached 8,889,704, the highest number of active wallets per day has reached 577,848, and the number of active wallets per month has reached 5,520,846.
In addition to the memecoin craze, the entry of stablecoins is undoubtedly a boost to the TON ecosystem. Since April, the native USDT on TON has been launched, making the seamless transfer of value P2P a reality. To date, the authorized issuance of USDT on the TON chain has exceeded US$580 million. Users can send cryptocurrencies to friends as easily as sending messages on WhatsApp, which is decades ahead of traditional banks.
In addition, the Telegram wallet allows users to send or receive USDT, BTC, TON and Notcoin directly in Telegram, reducing the complicated concepts of private keys for traditional users, and adding a channel for purchasing cryptocurrencies with credit cards. It does not force the "web3 concept" and avoids the trouble of switching between multiple screens, thus improving retention rates. Users can use TON's built-in wallet to realize payment and transfer functions.
On April 16 of this year, Telegram launched advertising revenue rebates, and advertisements are paid in TON. Channel owners can share 50% of the advertising revenue displayed in their channels. This disguised airdrop reward is undoubtedly an unprecedented pioneer of the "sharing" economy on social platforms.
Supported by TON Foundation, the on-chain ecosystem is thriving
In order to attract more project teams to take root in the TON ecosystem, TON not only provides basic tools such as TON SDK, TON Connect, TACT language and Blueprint framework, but also organizes Open League, Grants, Accelerator and other programs. In addition, TON has also established a $250 million TONcoin.Fund to invest in TON ecological projects, covering Infra, Defi, gaming, socialfi and other investment entities.
One of the main initiatives of the TON ecosystem is the Open Alliance, a long-term incentive program designed to reward builders and users. The program was launched in March with 18 projects participating in the test season and has grown to include about 40 TON applications, 57 tokens, and 22 NFT series. The foundation has issued more than $45 million in rewards, with a total grant of $150 million, and plans to further expand the program.
On June 13, TON launched the fourth quarter of the OpenLeague event, and the effect was extremely significant. DeDust.io, the leading DEX on TON, has achieved a TVL of TON/USDT pool of more than 200 million US dollars, further bridging DeFi with other chains. Ability to absorb funds.
As Justin Hyun, Investment Director of the TON Foundation, describes it, “TON is really the only hope for mass adoption of Web3 technology. It will do for Web3 technology what the Apple Mac did for personal computing. Instead of a computer in every home, it will put cryptocurrency in every pocket.”
Although TON's ecosystem is not yet perfect, and the DEX, lending and other infrastructure in the DeFi field still have a big gap compared to other mature ecosystems such as Solana and Optimism, but judging from the number of active users and reachable user groups of TON in the current market, it is far ahead of all public chains, blurring the gap between web2 and web3, lowering the threshold for entering the TON ecosystem, and achieving an acceptable optimal user path.
