Podcast Summary
This podcast episode delves into the rise of Telegram Mini Apps and the growth of The Open Network (TON). It discusses the integration of a crypto wallet into the Telegram messaging app, the success of games like Hamster Kombat and Catizen on TON, and the role of the TON Foundation in supporting the ecosystem’s growth. The podcast also explores the collaboration between TON and Telegram, the potential of tap-to-earn mechanics, and the challenges of illicit activity on the platform.
Key Takeaways
TON’s Rapid Growth and Success
- Impressive Growth: TON has seen its Total Value Locked (TVL) increase 34x since late February, reaching around $750 million. The number of daily active addresses on TON exceeded those of Ethereum in May and June.
- Popular Games: Games like Hamster Kombat and Catizen have gained traction on TON, attracting millions of users. These games have been successful due to their viral mechanics and incentives, particularly their referral systems.
TON Foundation’s Role and Goals
- Supporting the Ecosystem: The TON Foundation’s main mission is to support and enhance the growth of the ecosystem by providing tools, programs, and initiatives for teams building on TON. They aim to achieve 500 million Telegram users on the TON chain by 2028.
- Open League Initiative: The Open League, a competition between projects on TON, has been a major catalyst for on-chain growth, contributing to around 60% of daily active wallets on TON.
Collaboration between TON and Telegram
- Integration of Crypto Wallet: The integration of a crypto wallet in Telegram allows users to send crypto instantly and for free, making it easy for new users to get started with crypto.
- Future Plans: The collaboration between TON and Telegram is constantly improving, with plans for an app store within Telegram to promote TON’s web 3 applications.
Tap-to-Earn Mechanics
- Conversion Funnel: The tap-to-earn feature aims to engage users by providing them with crypto rewards through airdrops, creating interest and excitement. This feature serves as a conversion funnel to onboard web 2.0 users into the web 3.0 space.
Challenges of Illicit Activity
- Illicit Activity: The podcast acknowledges the issue of illicit activity on Telegram and the TON Network. The foundation recognizes the need to tackle illicit activity on the platform but does not provide specific details on how they plan to prevent or mitigate it.
Sentiment Analysis
- Bullish: The podcast presents a bullish sentiment towards TON and Telegram. The rapid growth of TON, the success of games on the platform, and the TON Foundation’s initiatives to support the ecosystem’s growth all contribute to this positive outlook. The integration of a crypto wallet into Telegram and the potential of tap-to-earn mechanics further enhance this bullish sentiment.
- Bearish: There is a slight bearish sentiment due to the challenges of illicit activity on Telegram and the TON Network. However, the podcast does not dwell on this issue, and it does not significantly impact the overall bullish sentiment.
- Neutral: The podcast maintains a neutral stance when discussing the future plans of TON and Telegram, presenting the information without expressing a particular sentiment.
