- TON secures $100M to expand its base layer, focusing on DeFi, cross-border payments, and security.
- Telegram’s deep integration with TON fuels adoption, with Toncoin surging 20% in the past week.
Following the outstanding success of The Open Network (TON), previously reported by CNF as having surpassed 100 million holders in its 2024 growth surge, TON is making a significant push to solidify its place as a leading blockchain by securing a $100 million fund aimed at expanding its base layer.
Backed by TVM Ventures, this new initiative marks a clear departure from TON’s previous reliance on Layer 2 (L2) solutions and sidechains, with a focus now on strengthening its core blockchain infrastructure. As recently retweeted by TON on the X platform:
TON Core: Report for December-January
As tweeted recently, 48 updates, from small to huge. Moving along the roadmap: the first part of the Accelerator, new tools for validators, TVM sidechains, new versions of TOLK and API, support for extra currencies and BTC Teleport, and more.
TON Core: December-January update
https://t.co/9FkQdY3Mnq
— TON
(@ton_blockchain) February 3, 2025
The Goal: Mass Adoption and True Blockchain Innovation
Specifically, the $100 million fund is designed to fuel the development of decentralized applications (dApps) and protocols directly on TON’s base layer. This move comes as the TON Foundation, alongside Telegram, seeks to avoid the trap of simply becoming another Ethereum Virtual Machine (EVM) Layer 2 network.
As Steve Yun, a board member of the TON Foundation, puts it, without focusing on its own blockchain, TON risks becoming “just another EVM L2” that supports recycled Ethereum smart contracts.
The vision is clear: TON aims to be more than just a platform for crypto games or dApps—it strives to become a foundational blockchain for Web3, offering enhanced security, decentralization, and scalability by staying true to its own chain.
DeFi, Cross-Border Payments, and Security
The fund will target three main areas: decentralized finance (DeFi) infrastructure, cross-border payments, and enhanced security for the TON Virtual Machine (TVM).
The fund will prioritize DeFi protocols that bring traditional banking services to crypto users and support remittances and cross-border payments, which remain highly inefficient today.
Telegram’s Continued Commitment to TON
Telegram and TON continue to strengthen their partnership, with Telegram exclusively adopting TON for crypto-integrated mini-apps, including games. The goal is to integrate TON deeply into Telegram’s ecosystem, leveraging its vast user base to boost network adoption.
The positive impact of this development is reflected in the current market price. At the time of writing, Toncoin (TON) is priced at $3.87, surging by 3.99% in the past day and up 20.88% over the past week.
