The Ton blockchain, or The Open Network (TON), is a decentralized layer one smart contract network designed for scalable and financial applications.
Initially developed by Telegram to integrate cryptocurrency and blockchain functionalities directly into the Telegram ecosystem, the TON Blockchain stands out in the fast-growing blockchain community.
After Telegram withdrew from the project due to regulatory scrutiny following their $1.7 billion token sale, the blockchain has continued to evolve under the open-source community’s stewardship, guided by the TON Foundation.
Notcoin
Notcoin is a cryptocurrency that has gained significant attention recently due to its rapid growth and popularity. It was launched in January 2024 and uses a unique tap-to-earn system built on The Open Network (TON) blockchain. Users can earn coins just by tapping their phone screens.
This innovative approach quickly gained popularity, attracting millions of users quickly. By the end of the first phase, Notcoin had onboarded over 6 million users in just ten days. The coins earned during this phase were then converted into tokens to exchange for fiat.
Following the launch, Notcoin distributed tokens that included 3% for Binance Launchpool, 78% for miners, 9% for the ecosystem fund, 5% for community incentives, and 5% for development.
Its numbers show significant progress: a Twitter community of over 1.7 million members, a market capitalization nearing $3 billion, an all-time high of $0.02896, and an all-time low of $0.004605. It also boasts over 7 million users on Telegram and ranks among the top 10 projects on CoinMarketCap.
While the project has garnered significant attention and formed a partnership with the TON blockchain, it remains anonymous. The founders of Notcoin are unknown, and the website and whitepaper do not provide useful information about the project.
Gramcoin (GRAM)
Gramcoin (GRAM) is another cryptocurrency developed and deployed on the TON blockchain. It was originally developed as an experiment by TON enthusiasts, and GRAM’s rapid success encouraged its developers to continue refining the project. GRAM is designed to be fully decentralized and community-driven.
The project requires users to mine GRAM tokens using GPUs equipped with CUDA or OpenCL drivers and mining software available on GitHub. Mining began in January 2024, with web mining initially available.
However, web mining was discontinued when the team announced the launch of the Gram Mining Pool, which became operational in the second week of February of the same year. The Gram Mining Pool is a service where miners can combine their resources to increase their chances of successfully mining GRAM tokens.
This collaborative approach allows participants to share the mined GRAMs proportionally based on their contribution to the pool, which makes the mining process more efficient and rewarding.
GRAM has a capped supply of 5 billion tokens, of which 1.75 billion have already been mined. Since its launch, the value of GRAM has surged from $0.00000107 to $0.03, reaching a peak of $0.08393. Its current market cap is $35 million. Despite its brief market presence, GRAM has gained over 30,000 users.
GRAM is mostly traded on decentralized exchanges (DEXs) and a few centralized exchanges (CEXs). It has a strong community presence, with more than 200,000 followers on Twitter and 37,339 members in its Telegram channel. Development activity is ongoing, as shown by recent updates to its GitHub repository.
STON.fi (STON)
STON.fi is a decentralized automated market maker (AMM) and decentralized exchange (DEX) built to provide a user-friendly and efficient platform for trading TON-based tokens and other cryptocurrencies.
STON.fi stands out for its almost zero trading fees, designed to minimize users’ costs. It is also created to minimize slippage to ensure optimal trading rates.
The platform’s user-friendly interface makes it accessible to novice and experienced traders. Additionally, STON.fi integrates directly with TON wallets to make it easier to carry out transactions such as swapping, staking, and more.
As of June 4, 2024, the project has surpassed 1 million unique users. Additionally, 84% of all DEX users on TON choose STON.fi, and 58% of TON’s liquidity is concentrated on the platform. The daily transaction volume has peaked at $43.4 million, a record for STON.fi and other DEXs.
STON.fi supports 88 different coins and offers 618 trading pairs. The NOT/TON pair is the most actively traded, with a 24-hour volume of around $11.8 million. Looking ahead, STON.fi plans to enable cross-chain trading by integrating with other blockchain networks like TRON and EVM-compatible chains such as Polygon.
The platform’s native token, STON, has a current ATH of $32.65 and ATL of $0.000000335. Its current market cap is over $17 million, and its total supply is 100 million STON.
DeFinder Innovations (DFI)
DeFinder Innovations (DFI) is a DeFi initiative to support innovative projects and solutions on the Telegram Open Network (TON) blockchain.
The multifaceted initiative within the TON ecosystem offers a suite of products, including the ARBUZ clicker game with a continuous coin drop, the DeWallet digital wallet, the DeFinder Capital Fund, and the ArrakenPlanet farming game.
Other products within the DFi ecosystem include DeVPN, DeSim, DeCoupons, and DeSwap. DeVPN is a VPN service powered by the TON blockchain.
DeSim is an open electronic SIM integrated into Telegram. DeCoupons is an innovative coupon platform operated via smart contracts. DeSwap is a service offered by DFI that allows users to convert tokens, such as $DFI to $NOT or $USDT.
The primary ambition of DFI is to become the premier community within the TON ecosystem by filling service and product niches and driving the popularization of TON through user engagement.
It is designed to leverage the DFC token—its native token—for ecosystem governance through a decentralized autonomous community (DAO) model. DFI said that tokens from the social pool are allocated to attract and motivate active user participation without ICO or private sales. It is completely community-driven.
The DFI project has 840,000 Telegram channel subscribers and has garnered support from the TON Foundation, including a significant $20,000 contribution from the foundation’s head to DeFinder’s wallet. The market cap of DFI is nearly $41 million, with a total supply of 200 million DFI. The all-time high (ATH) is $3.94, and the all-time low is $0.1032.
TonUp (TONUP)
TonUP (UP) is a launchpad platform built on the Telegram Open Network (TON) blockchain. It aims to support new projects to launch successfully on the TON blockchain.
A Web3 launchpad is a platform that facilitates the creation and funding of blockchain-based projects, particularly in the early stages of development.
These platforms, also known as crypto incubators or launchpads, aim to bridge the gap between investors and project developers by providing a secure and transparent environment for crowdfunding and token sales.
As a launchpad, TonUP offers users and projects staking and farming opportunities. The project notes that the total funds raised exceed $3.1 million. This impressive amount suggests that the project has garnered significant financial support from various sources, such as private investors, venture capital, and possibly public token sales.
Additionally, it has burned 104,314.9 UP, intending to increase the scarcity of the remaining tokens, potentially enhancing their value. It also has more than 30,000 holders of the TonUP token and has seen over 10,000 participants in its IDO.
TonUP (UP) currently has a market capitalization exceeding $30 million, with a total supply of 100,000,000 UP tokens, an all-time high (ATH) of $1.47, and an all-time low (ATL) of $0.2612. Regarding support, it has received a boost from the TON Foundation, TONcoin.Fund, and ForesightX since its launch.
JETTON
JETTon Games project is a gaming platform that uses TON blockchain technology to offer a unique gambling experience. It provides a secure and transparent space for players to gamble, place bets, and win with its cryptocurrency, JETTON. The project’s inspiration comes from addressing trust and security challenges in the gambling industry.
The JETTON Token is more than just a digital currency; it’s a crucial part of the ecosystem. Users can also use the JETTON tokens to receive rewards through an affiliate system using blockchain and NFTs as main prizes in tournaments and promotions.
According to the team, there are plans to add a payment system to the project that can serve the gambling industry, an NFT marketplace where digital tokens can be exchanged between users, a staking mechanism for holders of the JETTON token, a revenue sharing system, and more games to the infrastructure.
The JETTON token is valued at over $4 million and has a maximum of 100 million available. Its highest price was $3.44, and its lowest was $0.4558.
In other news, Telegram Mini Apps are booming, with new ones daily. But what sets them apart from other apps?
Bemo
Bemo is a decentralized application built on the Telegram Open Network (TON) that provides users with a liquid staking solution. Its native token is stTON, which is a derivative token from Bemo designed for individual and institutional TON token holders.
Users stake TON tokens and receive stTON tokens, symbolizing their share in the TON pool. The quantity of stTON allocated is determined by the amount of TON staked and the current stTON/TON rate.
Apart from Stakers, Validators on the TON network also receive rewards but in the form of TON tokens after deducting service fees. This increases the value of the Bemo TON pool value and the value of stTON.
The protocol is designed to allow users to unstake stTON at any time, leading to a cooldown period lasting between 36 to 72 hours. After this period, stTON is converted back to TON based on the prevailing exchange rate, allowing users to claim their TON tokens. Additionally, Bemo offers a non-custodial staking solution, giving users full control over their tokens.
Currently, the stTON token has a market capitalization of nearly $80 million, an all-time high of $13.94, and an all-time low of $1.82.
Storm Trade
Storm Trade is a decentralized exchange built on the Telegram Open Network (TON) blockchain. It is one of Telegram’s first social-fi derivatives platforms, allowing users to trade various assets, including cryptocurrencies. Plans are to integrate stocks, forex, and commodities.
The $STORM token’s business model is centered around its revenue-sharing function. The protocol generates revenue through trading fees, and 30% of these fees are distributed to all token stakeholders.
The more trading volume the protocol experiences, the higher the profit received by the token stakeholders. This model incentivizes stakeholders to hold and stake their tokens, as they will benefit directly from the protocol’s success.
According to the website’s data, Storm Trade’s TVL is more than $15 million, and its trading volume is $13 million. The protocol has established partnerships with notable entities, including Gotbit, Toncoin.Fund, Pyth Network, and Tonstarter.
Additionally, Storm Trade has attracted top investors, including TON Ventures, Sky9 Capital, Blackdragon, JRR Capital, CSP DAO, and Yolo Investments.
While the project is active, the token launch is still pending. In June, three tokens—$BNB, $WIF, and $PEPE—were added to its trading pair list with $USDT and $TON.
TON Punks and Punk City
TON Punks and Punk City are interconnected projects within the Telegram Open Network (TON) ecosystem. TON Punks is a project that combines the capabilities of NFTs and blockchain technology to create a unique gaming experience within the Telegram Open Network (TON) ecosystem.
Its website states it is “a collection of 5149 NFTs created for the TON blockchain.” Its mission is to develop a Play2Earn ecosystem integrating Telegram bots and the TON blockchain.
This involves creating a gaming environment where players can earn real-world value by participating in games, typically in the form of cryptocurrencies or other digital assets.
The ecosystem relies on Telegram bots, which are automated programs that interact with users within the Telegram app. They handle game interactions, user account management, and reward distribution tasks.
There are plans to initiate a DAO (Decentralized Autonomous Organization) to oversee the project’s future development. Additionally, Ton Punk has a token called $PUNK, which boasts a market cap of over $35 million. The token has reached an all-time high (ATH) of $4.17 and an all-time low (ATL) of $1.28.
Fanton Fantasy
Fanton Fantasy is a fantasy football game integrated into Telegram to benefit from the instant messenger service. The game features collectible cards of top football players, which allow users to create a football squad and earn points based on their selected players’ performances in real-world matches.
Fanton operates on a freemium model. The core game is free, but players can participate in paid tournaments for higher prizes. The main revenue source is paid tournaments, where players buy tickets to compete for prize pools.
Fanton also earns revenue from NFT sales. The business model aims to attract a large player base through a mix of free and paid content, generating a sustainable and profitable revenue stream. The game has a monthly active users (MAU) base of 200K and a monthly revenue of $130K.
The TON ecosystem continues to expand, driven by the massive potential of over 1 billion Telegram users. In addition to the previously mentioned applications, notable projects built on the TON blockchain include TONstarter, Evaa, DeDust, and Resistance Dog.
