Interpret the popular TON chain - discover a large number of users, and the social chain game is eye-catching

[TL；DR]

1. The development of the TON public chain has been full of twists and turns, but recently stimulated by the news that the Telegram advertising platform announced that it will use the TON blockchain for payment and withdrawal, the price of TON tokens has risen sharply, and it has also brought the popularity of other ecological projects in the TON chain and the rise of some tokens

2. With the help of Telegram's massive user base, many TON chain projects such as social networking and games are booming.

3. With the further deepening of ecological integration, TON will usher in an ecological explosion with the help of a large number of users on Telegram and more interesting and fun DAPPS.

Introduction

With the continuous heating up of the market, a new round of bull market has begun, and in this magnificent public chain competition, how to highlight the encirclement and show its unique advantages has become an urgent problem for each project party to solve.

In this context, TON, as the official technology partner of Telegram, has shown strong competitive potential with its huge traffic advantage and ecological vitality, and this article will introduce TON in detail.

The Open Network has had many twists and turns, and has broken through strongly

TON, short for The Open Network, and its native token, TON, have recently gained amazing market attention with strong gains.

According to Gate.io data, the TON token hit a trough of about $0.99 in early June 2023, and then rebounded strongly and has risen to the $5-$6 line so far, leading the market by up to 500%.

Figure 1 Source: Gate.io

As of the date of writing, the on-chain TVL has only risen to $96.78M, but its market cap has surpassed $17B, placing it in the 8th place in the crypto market cap ranking (excluding stablecoins).

Figure 2 Source: DeFiLlama

In fact, the starting point of TON's development can be traced back to 2018. Designed and created by the high-profile Telegram team, The Open Network aims to be a fully decentralized Layer 1 blockchain that combines scalability, shardability, fast transaction speeds, low transaction fees, and user-friendly applications.

However, the development of TON has not been without its challenges. In 2020, the Telegram team had to settle with the SEC due to legal disputes such as the SEC's accusations of conducting an unregistered securities offering, resulting in a temporary suspension of the project.

But luckily, community developers saw the potential of TON and took over the project and gave it a new name, The Open Network, to continue to push it forward.

TON's technical logic is centered on high-speed applications, its transactions are directly based on message on-chain, peer-to-peer communication is supported, and the dynamic multi-shard architecture provides strong support for the scalability of its applications.

TON uses a proof-of-stake (POS) mechanism, and the TON token plays an important role in the ecosystem, which is used to pay transaction fees, process settlement payments, and verify transactions. According to TON's basic parameters, its annual inflation rate is controlled at about 0.6%, showing a robust economic model.

But by the end of December last year, TON's development had encountered another twist and turn. Its official Twitter account @ton_blockchain was banned for unknown reasons, causing some distress to the community.

However, despite this, the development momentum of the TON ecosystem has not been greatly affected. On March 20 of this year, the Toncoin Foundation announced a major distribution plan that marked a substantial development of the TON ecosystem. After this announcement, investor interest in TON resurged, and the price of TON coin also rose by a rapid 10% on the day.

Recently, the Telegram advertising platform announced that it will use the TON blockchain for payments and withdrawals, which not only drove the price of TON tokens, but also brought the popularity of other ecological projects in the TON chain and the rise of some tokens.

Explore popular projects in the TON ecosystem

In the vibrant ecosystem of TON, many track applications, especially projects with natural traffic advantages such as social networking and games, are flourishing, jointly promoting the prosperity and progress of the ecosystem.

FISH

FISH is the first meme coin project on the TON blockchain, designed with community engagement and entertainment at its core.

Figure 3 Source: tonfish.io

Users can acquire FISH tokens in a variety of ways and interact with the ecosystem by trading, collecting NFTs, or participating in community events after holding them.

FISH'S UNIQUENESS LIES IN THE TWO NFT COLLECTIONS IT HAS INTRODUCED, INCLUDING THE TON ROCK COLLECTION AND THE TON FISH BOX COLLECTION, WHICH ADD TANGIBLE VALUE TO THE ECOSYSTEM. As a symbol of the spirit of experimentation and creativity on the TON blockchain, FISH quickly attracted the attention of the crypto community.

Notcoin

Notcoin is a representative project in the TON ecosystem, and although it is classified as a game in the Tapp center, its function is more inclined to be an advertising tool or a diversion tool with gameplay.

Figure 4 Source: @thenotcoin

NOTCOIN takes full advantage of Telegram's traffic advantage and social features, and users can earn points rewards through simple actions such as clicking buttons and completing tasks. At the same time, users can also earn more points by inviting other users or redirecting to other apps, as well as joining clans and directing to various channels.

IT'S WORTH NOTING THAT MORE THAN 95% OF NOTCOIN'S USERS COME THROUGH REFERRALS, WHICH FULLY DEMONSTRATES THE POWER OF SOCIAL TO ATTRACT USERS.

Egg Fight Club

Egg Fight Club is an innovative game that combines combat, strategy, and collectibles.

Figure 5 Source: @EggFightClub

Players can collect and raise "egg" characters with different characteristics, build a powerful battle lineup, participate in real-time battles, and experience the thrill of intense battles. The game emphasizes the fun of collecting, providing a rich variety of characters for players to explore.

In addition, the social nature of Telegram-based makes it natural for the game to have a wealth of built-in social features, allowing players to communicate and cooperate with other players to explore the mysteries of the game together. This not only increases the interactivity of the game, but also allows players to meet more friends in the game.

STONE.fi

STON.fi is a relatively mature DEX on the TON Chain, which uses an advanced AMM (Automated Market Maker) mechanism to trade, achieving an almost zero-fee operation experience, with extremely low slippage, and a simple and intuitive interface design, making it easy for users to get started.

Figure 6 Source: SONT.fi

At present, STON.fi has supported the trading of 20 assets such as TON, jUSDT, and WTON, covering a variety of mainstream and potential currencies. At the same time, it also supports liquid staking of about 30 asset trading pairs, providing users with more ways to add value.

It is worth mentioning that the TVL on STON.fi is approaching $400M, which fully demonstrates its strong appeal in the market and the high level of trust in it.

Efforts on social networking, game tracks, the possibility of TON chain

The rise of TON does not rely on the traditional DeFi path, but has emerged with a strategy that continues to cultivate in the fields of user experience, social interaction, application tools, and gaming.

The project team cleverly leveraged Telegram's huge Web2 user base, and through innovative methods such as embedded native wallets and mini games, TON successfully attracted a large number of users to participate, and achieved remarkable results after integrating elements such as social networking and NFTs.

Figure 7 Source: ton.org

Recently, with the news that Telegram announced the use of TON to process advertising revenue and Telegram is seeking an IPO, the price of TON has risen rapidly, and the on-chain activity has also increased significantly, and its resilience and vitality have been continuously verified.

However, while the TON ecosystem is developing rapidly, it is also facing some challenges. Some copycat projects have attempted to replicate successful models on Ethereum, but due to a lack of in-depth examination of the needs of the special market for TON, the token community and trading volume of these projects have not reached the expected level. In addition, the TON ecosystem has not yet been unable to be friendly with EVM, nor has it been able to launch a native stablecoin, which also makes many crypto users still have a wait-and-see attitude, and the speed of capital influx has not yet formed a scale.

Nonetheless, we are looking forward to the future of TON. With the continuous development of the Telegram Web App ecosystem, more and more projects will settle in the TON ecosystem, bringing more abundant application scenarios to it. We look forward to seeing TON launch more innovative apps on the basis of leveraging the advantages of the Telegram app, such as offline instant payment, native USDT support, and social scene integration.

Overall, the TON ecosystem has shown strong vitality and broad development prospects. Although the early Telegram team is no longer directly involved in the development, TON's core developers and community still work closely with Telegram to jointly promote the ecological construction of The Open Network.

It is foreseeable that with the further deepening of ecological integration, TON will usher in a more brilliant future with the help of Telegram's massive number of users and more interesting and fun DAPPS, and become a truly open network connecting different regions, different ecosystems, and different applications.

by Carl Y.

This article represents the views of the author only and does not constitute any trading advice.

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