The Open Network (TON), an innovative decentralized blockchain platform initially designed by Telegram, has recently secured significant funding from MEXC Ventures, the venture arm of the cryptocurrency exchange MEXC. This investment marks a major milestone for TON and demonstrates the growing interest and support for the platform in the cryptocurrency community.
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has made an eight-figure investment in TON. This substantial funding will not only provide financial support but also contribute to the promotion and accessibility of the global Web3 ecosystem. In alignment with this strategic partnership, MEXC will offer marketing services and promotion for TON-based projects listed on its platform, further accelerating their growth and adoption within the crypto community.
In addition to the funding, MEXC Ventures will continue to support TON-based mini apps and projects, such as Megaton Finance, TONPlay, Fanzee, and Sonet. This ongoing commitment emphasizes MEXC’s belief in the potential of the TON blockchain and its desire to foster innovation and development within the Web3 ecosystem.
The strategic partnership between MEXC and the TON Foundation aims to lower the barriers of entry for individuals interested in exploring the world of blockchain. MEXC plans to launch a TON collateral lending service and eliminate trading fees for the TON token, making it even easier for users to engage with the TON platform and enjoy its benefits. The objective is to democratize access to cryptocurrency and decentralized technology, ultimately making crypto as simple as texting.
The TON blockchain has always played a crucial role in Telegram’s potential Web3 journey. Telegram’s founder, Pavel Durov, has repeatedly emphasized the importance of TON in the company’s plans for the future. In September, Telegram integrated the TON Wallet as a mini-app, enabling users to access various coins directly from the messenger’s interface. Durov has highlighted that TON technology was developed by the open-source community and that TON Wallet is a third-party app.
Aside from the financial investment, MEXC Ventures and the TON Foundation are also exploring potential funding for a crypto wallet on Telegram. This collaboration demonstrates their commitment to enabling seamless integration of blockchain technology within the messaging app. By leveraging MEXC Ventures’ support, TON Foundation aims to expand the adoption of the Web3 ecosystem, making it accessible to anyone, regardless of their familiarity with blockchain technology.
While MEXC Ventures’ support is invaluable for TON’s development, it is worth noting that the investor is a subsidiary of the centralized cryptocurrency exchange MEXC. Some members of the crypto community have raised concerns about using a non-Know Your Customer exchange like MEXC, highlighting potential risks associated with such platforms. However, MEXC claims to hold licenses in Australia, Estonia, and the United States, and serves users in over 200 countries.
With the support of MEXC Ventures and its strategic partnership with the TON Foundation, the Open Network aims to revolutionize Web3 accessibility and pave the way for a decentralized future. By securing major funding, launching innovative services, and collaborating with leading industry players like MEXC, TON is poised to broaden its reach and impact within the blockchain community. As the technology continues to evolve, TON and its partners are dedicated to making blockchain technology convenient and user-friendly for everyone.