Top 5 Projects Building on The Open Network (TON)
This year appears to be quite successful for the TON blockchain. Demonstrated by recent price increases, its integration with the Telegram app, and the introduction of new products, TON is quickly gaining momentum. In this article, we present our selection of the five most popular and promising projects developed on the TON blockchain.
The TON blockchain (The Open Network) is rapidly gaining traction in the cryptocurrency. Telegram's creator, Pavel Durov, initially conceptualized TON and then transformed it into a scalable network known for its fast transactions and user-friendly applications.
Despite facing regulatory hurdles and eventual abandonment by Telegram in 2020, TON has flourished independently, now supporting over 650 dApps across various sectors such as DeFi, NFTs, gaming, and meme coins.
Interestingly, last year, the TON blockchain surpassed leading networks to claim the title of the world's fastest blockchain. It set a record by processing an impressive 104,715 transactions per second (TPS) during a public performance test.
One of TON's most attractive features is its deep integration with Telegram, a platform boasting over 700 million monthly active users. This integration simplifies user adoption and enables unique functionalities like instant, commission-free crypto transfers within the messaging app. Since March 2024, Telegram has been using the TON blockchain and Toncoin to allocate 50% of its ad revenues to channel owners. This has promoted Toncoin into the top 10 cryptocurrencies by market capitalization.
In April 2024, Tether collaborated with the TON Foundation to launch $60 million of USDT on the TON blockchain, which helped elevate TON to the 11th rank among the 16 blockchains that support Tether.
Now, let's explore the top 5 projects built on the TON blockchain.
#1 – Notcoin (NOT)
It's no surprise that Notcoin tops our list. This cryptocurrency has become a sensation in the crypto gaming world. Within just a week of its launch on January 1, 2024, Notcoin became the fastest-growing crypto app, attracting 4.1 million players. This explosive growth outpaced the entire crypto gaming sector in terms of user numbers in the same timeframe, even surpassing the initial user acquisition rate of ChatGPT. Remarkably, Notcoin achieved this without any website, marketing budget, roadmap, or whitepaper. To date, the game has garnered over 30 million players, according to in-game data.
Originally conceived as an experiment to boost user engagement, Notcoin began by allowing users to mine tokens through simple interactions with a virtual coin within the Telegram app.
The game itself, a Tap-to-Earn model, offers a straightforward and addictive gameplay mechanic: players earn Notcoins by repeatedly tapping on a virtual coin. This engaging activity enables players to gather in-game currency simply by playing regularly.
Notcoin made its debut on major cryptocurrency exchanges on May 16, 2024, and is now starting to be incorporated into various TON dApps. The developers aim to integrate Notcoin more deeply into the TON ecosystem, potentially enhancing both its utility and financial significance.
# 2 – DF Capital (DFC)
DF Capital (DFC) represents the most extensive ecosystem on the TON blockchain, boasting over 100+ services on a single platform. DFC serves as a conduit between Web2 and Web3 audiences and the TON blockchain, attracting an audience of more than 250,000 individuals.
The DFC ecosystem features a variety of products, including:
- DeWallet: A Telegram-integrated wallet that supports $TON tokens and offers a P2P service.
- DeDonate: A platform dedicated to fundraising.
- DeCoupons: A platform for smart contract-based coupons.
- DeApps: Facilitates the integration of various applications on the TON blockchain through a Telegram bot.
The team is also planning to launch their decentralized exchange, 'DeSwaps', aimed at addressing the liquidity issues in the TON DeFi ecosystem.
The project further extends into gaming with ArrakkenPlanet, where players can earn actual DFC tokens, which are readily withdrawable and sellable. For those looking to increase their earnings, the game offers a farming feature that provides a 2% weekly return for just holding the tokens.
# 3 – JetTon Games (JETTON)
JetTon represents the first gaming platform on the Ton blockchain fully integrated into the Telegram messenger. This platform offers a broad array of games, with over 500 types ranging from traditional slots and poker to exciting 3D action and live games, all accessible directly within the messaging app. By integrating with TON, these games not only provide entertainment but also offer financial rewards, which helps to drive adoption and usage by enabling their token issuance.
Additionally, Jetton Games has introduced its cryptocurrency, $JETTON, which has been active since the middle of November 2023 and currently holds a market capitalization of over $200 million. This token is utilized for in-game activities such as making bets and buying exclusive content, and it also functions as a reward system for winning games and referring new players. Additionally, holders of the JETTON token have the opportunity to engage in governance.
#4 – TONstarter
TONstarter is the first launchpad within the TON ecosystem, designed to support emerging cryptocurrency projects by facilitating fundraising through token sales, making connections with important ecosystem stakeholders, and using Telegram’s extensive user base to help projects grow. It offers a well-organized environment where new projects can find financial support in a decentralized and user-friendly setting. The main focus of TONstarter is on aiding these projects in their initial development and funding phases.
In addition to funding and token sales, TONstarter enhances project growth through various campaign features. For instance, users on TONstarter can earn a project’s native tokens, NFTs, stablecoin rewards, or experience points by experimenting with their apps and completing various tasks. Recently, the project also launched a new channel and a feature on Telegram called “community_bot,” which provides an easy and incentivized entry for users eager to explore new TON-based applications.
#5 – Evaa (EVAA)
Evaa is the first lending and borrowing protocol on the TON network. Users looking to leverage their idle tokens can participate as lenders by contributing TON, USDC, and WBTC to the liquidity pool. In return, they receive EVAA XP along with the interest accrued.
Borrowers can secure loans by offering collateral, which then determines a dynamic loan-to-value ratio based on the asset they intend to borrow. Evaa integrates directly with Telegram, allowing users to manage their assets directly within the app.
Furthermore, the Evaa Protocol will launch its token, $EVAA. This token will serve to reward users for contributing assets and generating loans on the platform. It will also play a key role in governance, such as voting on interest rates, risk parameters, and the management of the protocol’s treasury. Evaa is also planning to introduce the first TON-native stablecoin as part of its roadmap.
Final Words
The Open Network (TON) features a vibrant ecosystem filled with a variety of DeFi applications and beyond. With its strong integration with Telegram's messaging app and high transaction speeds, TON stands out as an appealing platform for both developers and investors. Telegram's large user base offers TON a robust starting point for making significant advancements in the coming years. However, as always, it is important to do your own research before investing any real money into potential projects.
