Research Summary
The report discusses the potential of The Open Network (TON), a blockchain integrated with the Telegram messaging app, to drive mass adoption of cryptocurrencies and Web3 Apps. It highlights TON’s scalability, developer grants, and growing DeFi and GameFi ecosystems. The report also explores the unique features of TON dApps and their potential for mass adoption.
Key Takeaways
TON’s Potential for Mass Adoption
- Integration with Telegram: TON’s integration with Telegram, a messaging app with nearly a billion users, could potentially bring Web3 to the mainstream. This integration allows users to access Web3 with just a few taps within the Telegram app, providing a more seamless Web3 experience.
- Scalability: TON’s blockchain is highly scalable, achieving a speed of 104,715 transactions per second in a public performance test. This scalability could attract more developers to build on the TON ecosystem.
- Developer Grants: TON is attracting developers by offering grants, a strategy likened to offering free pizza to college students. This could potentially lead to the development of more dApps on the TON platform.
Growth of TON’s Ecosystem
- TVL Growth: TON’s Total Value Locked (TVL) has grown 22x since the start of the year, from $15 million to $330 million. This indicates a growing interest in the TON ecosystem.
- DeFi and GameFi Ecosystems: TON has established DeFi and GameFi ecosystems, with core pillars such as DEXs, Lending, Liquid Staking, and more. The first TON GameFi project, $NOT coin, has been listed on Binance and has over 35 million users.
TON dApps and Mass Adoption
- Unique Features: The report suggests that TON dApps have unique features that could drive mass crypto adoption. However, the specific features are not detailed in the summary.
Actionable Insights
- Monitor TON’s User Growth: Given TON’s integration with Telegram, it would be beneficial to monitor the growth of TON’s user base as a potential indicator of mass crypto adoption.
- Assess the Impact of Developer Grants: The effectiveness of TON’s developer grants in attracting developers to build on the TON platform should be evaluated.
- Track the Growth of TON’s Ecosystem: The growth of TON’s DeFi and GameFi ecosystems, as well as its TVL, should be tracked to assess the platform’s potential for mass adoption.
- Research TON dApps: Further research should be conducted on TON dApps and their unique features that could potentially drive mass crypto adoption.
