TON AppChain Mainnet launched, dedicated to bringing Ethereum Decentralized Finance into the Telegram ecosystem.

The TON AppChain (TAC) officially launched its Mainnet this week, aiming to allow Ethereum-compatible Decentralized Finance (DeFi) applications to operate within Telegram's vast user ecosystem.

With the activation of the TAC Mainnet, Ethereum DeFi protocols such as Curve, Morpho, and Euler can now be used on this chain via Telegram. The TAC token ($TAC) surged shortly after its launch on the Mainnet, with an increase of over 50%, peaking at $0.0248, before falling back to around $0.026.

Technical Path: Introducing Ethereum Decentralized Finance to Telegram

TAC is built as a Layer 1 blockchain based on CosmosEVM, with the core design concept of providing a "TON-specific cross-chain layer" aimed at connecting Ethereum DApps and developers with Telegram's over 1 billion monthly active users. This technical path addresses the issue of TON blockchain's incompatibility with EVM, allowing EVM-based DApps to access Telegram's exclusive blockchain infrastructure through TAC.

The TAC ecosystem is supported by strong infrastructure partners, including several well-known projects. These collaborations will provide TAC with cross-chain messaging and oracle data flow services, ensuring the smooth operation and data accuracy of DeFi applications within the Telegram environment.

Currently, several well-known Ethereum DeFi protocols have launched on TAC on Telegram, providing users with decentralized trading and lending services.

Distribution Strategy: Leverage the User Base Advantage of Telegram

In the field of DeFi, distribution channels are seen as key elements of success. The strategic core of TAC lies in gaining access to the TON ecosystem and reaching the vast user base of Telegram through TON. It is said that users can use DeFi applications, conduct transactions, or engage in yield farming with just "one click."

A partner of a certain laboratory stated that the launch of TAC's Mainnet is "an important step in bringing DeFi to the mainstream," aiming to provide "real utility" for over a billion users.

Telegram's ambitions are clearly not limited to this. Earlier this year, this social giant reached an agreement with the TON Foundation, requiring all blockchain mini-programs to be developed based on TON. It then launched a digital asset tokenization plan, where the founder mentioned the deep integration of social and finance, stating that every chat window should become a financial entry point.

A certain laboratory just completed a $28.5 million Series A+ funding round at the beginning of July, with a valuation exceeding $1 billion. It is reported that among the investors is a certain Middle Eastern sovereign fund. Therefore, compared to other Layer 1 projects, TAC has a unique advantage: it does not need to cultivate user habits from scratch, but rather stands directly on the shoulders of the giant Telegram.

TON Ecosystem: Facing Real Challenges

However, whether the capital's enthusiasm can be transformed into substantial ecological prosperity still requires an answer from the market. After obtaining considerable financing and resource support, TON's future development still faces real tests. Looking back at 2024, the TON ecosystem experienced a rollercoaster: in the first half of the year, the TVL once exceeded $760 million, shining brightly, but in August, it faced a halving drop, currently standing at less than $150 million.

Currently, TAC is facing threefold challenges: first, how to attract high-quality DApp developers to continue building in the overall sluggish TON ecosystem; second, to break through the predicament of "getting praise but not attendance," and truly activate the participation of Telegram's billion-level users; finally, it must also confront challenges in the regulatory environment, especially regarding on-chain activities.

It is not easy for over a billion chat users to suddenly engage with DeFi. How far this experiment connecting the two major ecosystems can go will be answered by time.