Top 10 projects building on TON and Telegram
Telegram and the TON blockchain can create a thriving crypto ecosystem with their large user base. This article showcases 10 projects that are using Telegram and TON, including NOTcoin, TONstarter, StonFi, Evaa, DeDust, Jetton, Resistance Dog, Bemo, Storm, and TON Punks. These projects cover gaming, decentralized exchanges, lending protocols, and NFT collections, demonstrating the diverse opportunities within the TON and Telegram ecosystem.
Ever wondered what a crypto app with hundreds of millions of potential users looks like? Then Telegram and the TON blockchain are the places to be. With over 700 million monthly active users, Telegram could become the number one platform for all things crypto, including DeFi, NFTs, and banking. The TON blockchain was specifically designed to support this, and in recent months, the high-performing blockchain has started to be increasingly integrated into the popular messaging app Telegram.
While crypto's most popular blockchains like Ethereum, Ethereum Layer 2, and Solana generally see a maximum of 10 million users on their busiest days, there are multiple obstacles blocking mass adoption, such as private key management, needing the exact right token to pay for gas, and the many transactions that included centralized exchanges need before you actually arrive on-chain. Telegram and TON have seemingly fixed most of these friction points and have the potential to distribute to an enormous user base. Messaging, DeFi, trading tokens, and much more can all come under one roof through an interface that hundreds of millions already understand and enjoy. Now that we've set the stage, let's look at 10 early moving projects leveraging both Telegram and TON!
To learn more about the *TON blockchain, check out our deep dive here.
NOTcoin is a simple click-to-earn game, and all you need to do is open Telegram, search for NOTcoin, and start mining virtual tokens by clicking the project's icon. It has no initial requirements other than a Telegram account, and the game quickly went viral by strongly encouraging social interactions like an incentivized referral system, leaderboard, and squads that allow you to team up.
Due to the project's rapid growth, it has also become a valuable springboard for other TON and Telegram-based projects. Players of the NOTcoin game can earn additional virtual NOTcoins by exploring these apps, which has led to an influx of tens of thousands of new community members if the project is lucky enough to be featured. While it is still not set in stone whether the virtual tokens will be converted into TON-based tokens, there are rumors that the Notcoin token may soon be listed on exchanges, which could give the virtual coins some real-world value. Both CoinMarketCap and CoinGecko already list Notcoin, possibly indicating the upcoming minting and launch of the token.
TONstarter is the first launchpad for the TON ecosystem. It is designed to help new cryptocurrency projects get off the ground by facilitating the raising of funds through token sales, making introductions to key ecosystem players and helping projects grow via Telegram’s vast userbase. It provides a structured environment for new projects, which can secure financial backing in a decentralized and user-friendly setting. The focus of TONstarter is to support the growth of these projects within the TON ecosystem, helping them navigate the initial stages of development and funding. In another display of just how rapid things can grow on Telegram, TONstarter’s Telegram channel already boasts over 750,000 subscribers.
Besides funding and token sales, TONstarter’s platform helps projects with growth via various campaigns features. For example, users of TONstarter can earn a project’s native token, NFTs, stablecoin rewards or experience points by trying out their app and completing various activities. The project has also recently launched a new channel and feature in Telegram simply called “community_bot” that provides an easy and incentivized onboarding experience to users looking to try out new TON-based apps. The TONstarter team is well-connected in the ecosystem and backed by various prominent investors, making it a great way to get started with Telegram’s new direction for both founders and users.
StonFi is Telegram's leading Decentralized Exchange (technically, an Automated Market Maker or AMM). The project is backed by many of the key ecosystem parties and provides users with the ability to swap cryptocurrencies against each other. This can be done directly in Telegram via their web-app integration. While still in its early stages, StonFi already processes over $1 million worth of trades per day and offers a growing number of token pairs.
StonFi obtains its liquidity from users, who can earn (farm) rewards for providing liquidity. These rewards consist of trading fees plus StonFi's native token $STON. This token already has a market cap of well over $300 million and can be staked, providing users with additional rewards in the form of locked $STON (GEMSTON) and DAO voting power (ARKENSTON). With the project's intuitive user experience and valuable ecosystem support, it is well on its way to becoming a key pillar of the TON ecosystem.
Evaa is TON's first lending and borrowing protocol, similar to the popular Ethereum-based protocol Aave. The protocol enables users to deposit their cryptocurrency assets like $TON, $USDC, or $WBTC into a pool from which others can borrow. In return for lending their assets, users receive interest, while borrowers pay interest on the assets they take out. This happens directly in Telegram, which means that you can use a portion of your TON-based capital as collateral for loans to further use in the ecosystem.
The Evaa Protocol will also issue its own token, $EVAA. This token will be used to reward users who use the platform by providing assets and creating loans. Additionally, the token will be used to govern the protocol, for example, by voting on interest rates, risk parameters, and how to use the protocol's treasury. In addition to the DAO, Evaa also has the launch of the first TON-native stablecoin on its roadmap, which could become a highly lucrative endeavor.
DeDust is one of TON's leading decentralized exchanges. It allows people to swap a rapidly growing list of TON-based cryptocurrencies directly within Telegram. Think Uniswap for Telegram. To use DeDust, you need a TON-space wallet, which is their non-custodial wallet directly integrated in Telegram. At the time of writing, DeDust has over $7 million in Total Value Locked (TVL) in its decentralized exchange. DeDust has also recently launched it’s own token, $SCALE, which is used to incentivize users to contribute liquidity to the exchange’s token pools.
Besides swapping, users can also provide liquidity to the token pools in exchange for a share of the fees. DeDust also has an early-stage bridge that connects the TON blockchain with Ethereum, allowing users to easily transfer stablecoins (USDC, USDT & DAI) and Wrapped Bitcoin (WBTC) between the two platforms. Finally, the app also enables you to conveniently view your entire TON-based portfolio. The Telegram app of DeDust is currently still quite buggy, but this is not surprising given the early stage of the ecosystem and the app itself. While the competition to become a leading decentralized exchange in Telegram will be intense (considering the potential fees that winners can earn with the scale of Telegram), DeDust's early lead and recognition provide it with a compelling advantage.
JetTon Games is a fully-fledged gaming platform integrated directly into Telegram. The platform boasts an impressive number of different games (over 500), ranging from classic slots and poker to cool 3D action and live games, all of which can be played directly in the messaging app. With the integration of TON, these games can offer financial rewards and increase adoption and usage by issuing their own token.
Additionally, Jetton Games has its own token called $JETTON. This token has been live since mid-November 2023 and currently has a market cap of over $200 million. However, its utilities and mechanics are thus far unknown beyond the team's stated "unique gaming benefits". The vast array of games, clear experience of the team, potential integration with TON-based tokens, and ease of use within Telegram make this an interesting platform, although the purpose of the token should be clearly communicated.
No blockchain is complete without a memetoken, and TON has its own in the form of the Resistance Dog. However, while most memes are based on playful concepts and ideas, the Resistance Dog project is quite serious. It began as a homage to Telegram and TON founder Pavel Durov, who also created the iconic dog mascot for the project. The Resistance Dog symbolizes our fight against censorship and our pursuit of freedom through digital resistance.
The project's token has the ticker $REDO and its core purpose is to grow the community and fight the battle against censorship together by growing both Telegram and TON. With the vision "to overthrow the regime, with the help of memes", this project can take the spotlight as memes are popular, Telegram and TON are rapidly growing, and censorship and authoritarianism are on the rise.
Bemo is the first liquid staking solution for the TON token. Liquid staking means that users can stake their TON to earn staking rewards while still being able to use these staked assets further in the ecosystem. In the case of Bemo, this means that you have to connect your wallet to their dApp, send your TON tokens to their contract, and receive stTON in return. This stTON will consistently appreciate compared to TON based on TON's staking yield and can be used in other DeFi dApps like Evaa as collateral for loans.
On top of the TON yield, using Bemo for liquid staking also comes with additional rewards in the form of Bemo’s native token $BMO. 20% of the supply is reserved for these rewards, and the $BMO token is in turn used to govern the decentralized app. According the Bemo’s documentation, further tokenomics will be communicated in Q1 2024. Like at the success of liquid staking solutions on other chains like Lido on Ethereum or Jito on Solana, Bemo could see explosive growth over the coming years if they manage to stay ahead of the likely many competitors that will be arriving on the scene.
Storm is Telegram and TON's first decentralized exchange for exotic financial products like leverage and derivatives. Additionally, the project has ambitious plans as its roadmap indicates that Storm is going to make stocks, commodities, and fiat currencies (or as crypto calls them, Real World Assets) directly tradable within Telegram. These Real World Assets are synthetic assets, whose prices are tracked via the oracle solution Pyth.
The Storm Trade Bot is accessible directly in Telegram, through which users can access Storm's increasing range of trading options. Users can also provide liquidity to the system by depositing jUSDT, a bridged version of the popular stablecoin USDT, and earn up to 20% interest. Additionally, Storm has its own token $STORM, which provides an additional yield to liquidity providers, is used to boost growth through referrals, and rewards users for using the dApp. With the team's ambitious goal of making every asset tradable directly in Telegram using TON, this project is definitely one to keep a close eye on.
Last but not least, we have a more creative project in the form of TON Punks and Punk City. Some of you might know, but Crypto Punks are an OG NFT collection who still hold significant value. TON Punks is TON’s variant of these recognizable pixelated NFTs. But the project extends far beyond just an NFT collection, as the team is building a Play-to-Earn game based on Telegram bots and the TON blockchain, with the ultimate vision of becoming a Metaverse for crypto-based gaming.
Besides the NFTs, TON Punks also have their own unique token called $PUNK. The purpose of this token is predominantly focused on making the TON Punk DAO work and represents voting rights that manage the project's treasury and fund new Telegram bots that increase the value of the project's gaming metaverse. The TON Punk NFTs can be staked to earn the $PUNK token. The project already boasts several fun games directly in Telegram, and anyone can join the community, also called Punk City, and start playing them.
As the TON and Telegram ecosystem is rapidly growing and evolving, there will likely soon be many more interesting and valuable projects on TON than this top 10. We’re at an early stage of an ecosystem with a high potential for explosive growth which will likely rapidly attract hundreds of projects if not more. To help you keep track of the ecosystem yourself, here’s an overview of key resources:
We have not come across many opportunities in crypto as large as the merger between the TON blockchain and the Telegram messaging app. With Telegram's massive and global user base and TON's impressive high-performance blockchain, the combination of the two could rapidly lead to one of the most vibrant and fastest-growing ecosystems in the entire industry, possibly even evolving into a "superapp" like China's WeChat. The 10 projects described in this article should help you get started in the early stages of this ecosystem, and definitely let us know if you find more in our Telegram!
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.