Jun 14
The State Of The TON Ecosystem | June 2024
The State Of The TON Ecosystem | June 2024 provides a comprehensive overview of the current landscape of The Open Network (TON), highlighting significant developments, key projects, and emerging trends within the ecosystem.
Relevant TON Statistics:
Total Value Locked: $523.31m
Total Raised: $504m
TON Price: $7.62
TON Market Cap: $18.538b
TON FDV: $38.92b
Among TON protocols, the following are the best five performers by rate of TVL change in the past month:
- DeDust
- Storm Trade
- EVAA Protocol
- DAOLama
- Stakee
And here are the ten worst performers:
- Megaton Finance
- Tonnel Network
- bemo
- CockFights Game
- Hipo
Notcoin Stays Strong
It is pleasing to know that Notcoin now boasts 40 million players, according to its activated user database. This milestone highlights Notcoin's rapid growth and increasing popularity in the web3 space. In addition, the Notcoin team announced that Explorers have earned over $1.5 million through 20 airdrop campaigns.
Notably, Notcoin is transitioning from its initial tap-to-earn model to focus on community rewards and ecosystem sustainability. The Notcoin Explore platform and upcoming games and contests are part of this strategic shift.
The team has also fulfilled a promise made in March to support early adopters by dropping 40 million NOT—worth approximately $1 million—to the first 5,867 holders of Notcoin vouchers purchased or held before the pre-market opened to everyone.
TON Overtakes Ethereum in DAU
TON, banking on Telegram’s 900-million user base, continues to record massive gains and attract millions of users. According to data from Artemis, TON now records more daily active addresses (DAAs) than Ethereum, maintaining this lead nearly every day throughout the month.
Apparently, TON first surpassed Ethereum on May 17 and has consistently outperformed Ethereum on 10 out of 11 days so far in June, reaching a peak of 568,300 DAAs on June 3. This is a figure Ethereum hasn't matched since September 13, 2023.
TON's surge in activity can be partially attributed to Telegram's recent integration of the Tether (USDT) stablecoin on its platform and the significant uptake of Notcoin, with 35 million users signing up since its launch five months ago.
As it becomes easier to invest in crypto on Telegram, not only through blockchains like TON but also through portfolio management services like Flagship, the accessibility continues to attract users to the platform.
Telegram’s New In-App Currency
Within the past few days, Telegram introduced a new in-app currency called 'Stars,' designed to facilitate digital purchases within its platform. Telegram stars can be exchanged on the Fragment platform for Toncoin.
This integration allows mini-apps to accept payments for digital services through in-app purchases on Android and iOS. More so, developers who accumulate stars can swap them for Toncoin.
The launch aims to make the development and promotion of mini-apps on Telegram more appealing and beneficial for developers. Notably, Telegram will subsidize ads purchased with Telegram Stars, helping developers reduce the 30% commission demanded by Google and Apple to in-app purchases to effectively zero.
Entertainment Going Strong on TON
On entertainment in the TON ecosystem, the gaming bot Catizen on Telegram has surpassed one million users, marking a significant milestone in its growth. Meanwhile, Hamster Kombat has achieved an impressive 150 million players on its Telegram MiniApp while preparing to launch its first token on TON. This will potentially onboard millions of new users to the TON ecosystem
In the movies sector, W3bflix, which functions as a platform for funding and streaming movies, is set to launch on TON. This initiative, likened to Netflix on Telegram, serves as an entertainment token launchpad and will integrate content streaming for movies, TV series, animations, live concerts, and more.
Also, the web3 spots fantasy management card game, Maincard recently launched on TON, introducing a prize pool of up to 50,000 Toncoin to reward its active players. At the same time, it plans to list its token, $MCN, soon to enhance the gaming experience.
Still on gaming events, the Ton Pet minigame event concluded with significant rewards being distributed. Three participants won $FISH tokens valued at $50,000, $30,000, and $20,000, respectively, through a random drawing based on their game participation.
New Launchpads on TON
JVault introduced the first decentralized launchpad on the TON blockchain, allowing users to participate as token sale creators and investors. This launchpad is continually being improved to enhance accessibility and technological advancement. Meanwhile, TonPad also launched a Web3 investment platform on the TON blockchain.
The new TonPad platform, available in a mini-app format, aims to facilitate ICOs, investment rounds, and airdrops. It also includes a reward program for users who promote web3 projects, thereby benefiting both influencers and key opinion leaders.
More so, to learn about the portfolio of top crypto influencers and leaders, Flagship is your best bet, and you can do this directly from Telegram.
The Open League: Fourth Season
June 12 marked the launch of the fourth season of The Open League, the popular TON incentive program designed to energize active users within the ecosystem and foster competition among various crypto projects. This season will run for two weeks, concluding on June 26th at 11:00 UTC.
Season 4 features four leaderboards, including the new DeFi and NFT battles, in addition to the Token and App categories. Participants in these categories will compete in various challenges, with the DeFi battle centered on achieving the highest Total Value Locked (TVL) at risk. Teams competing in the app battle must integrate a new SDK to be eligible for Telegram Mini Apps.
A new NFT category has been introduced, and thirteen tokens are competing this season, including WEB3, FNZ, BOLT, KINGY, STON, JVT, HYDRA, WALL, COFE, JETTON, DFC, DUREV, and LLAMA. As usual, the top 10 projects on the leaderboard at the end of Season 4 will receive an LP boost for the upcoming Season 5.
Boosted pools have been launched on STON.fi and DeDust, with rewards exceeding $1.8 million for the next two weeks, including more than $730,000 contributed by projects. Notably, The Open League has evolved significantly from its original concept introduced in November, initially centered around social mechanics.
In conclusion, the state of The Open Network (TON) ecosystem in June 2024 reflects a vibrant and rapidly evolving landscape.
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
