After issues with the SEC, the development team that received the code and the domain ton.org from Pavel Durov
Here are the arguments they presented:
In a separate post, Anatolii Makosov explained:
TON Foundation is a non-profit organization, while TON Core is not an organization at all but rather a group of individuals working from different parts of the world on the TON blockchain code.
In turn, Kirill Yemelyanenko, the second most important developer of TON Core, also did not stay silent. He called the separation of TON Core and TON Foundation developers a "false narrative."
It creates a situation where all team members work on the same project but have different understandings of roles and responsibilities.
If this continues, it might seem that employees and developers from companies like TOP Labs, TonTech, and Tonkeeper are also not connected to the TON Foundation...
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TON Foundation has introduced rules prohibiting criticism of the Open League and TON Foundation staff,
Project founders have started receiving notifications that discussing the results of the 4th season and making negative comments could lead to their exclusion from the Open League
Prohibited topics include flawed metrics, awarding prizes to projects without a community, and other serious mistakes of the Open League itself.
It is worth noting that these bans and threats have caused a backlash among the founders. Unafraid of exclusion, they have begun to discuss the project even more actively in a negative light
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On July 10, 2024, TON Foundation announced the upcoming launch of TON Teleport BTC, a trustless bridge for secure transfers of Bitcoin (BTC) to and from the blockchain The Open Network (TON)
Thus, with TON Teleport BTC, the utility of Bitcoin is planned to be improved.
TON Teleport BTC allows BTC holders to safely participate in decentralized finance (DeFi) on TON, including:
Each BTC on TON will be 100% backed by real BTC, ensuring safe and reliable transactions.
Security fully depends on the Bitcoin and TON blockchains and the accuracy of smart contracts.
Now you can transfer Bitcoin to TON and back using TON Teleport. This is a decentralized and secure technology operating without intermediaries and limitations.
Anatoly Makosov, Technical Lead of TON Foundation
It is also useful to know the opinion of the leaders of RSquad Blockchain Lab, which specializes in DeFi, cross-chain compatibility, and cryptography, creating secure and trustless systems.
TON Teleport BTC is a significant step towards the future of decentralized finance, transforming the interaction of blockchain networks and the assurance of digital assets.
Boris Pimonenko, CEO of RSquad Blockchain Lab
It is known that The Open Network (TON) is a global decentralized blockchain community aiming to put cryptocurrency in every pocket.
By 2028, TON envisions enabling
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TON channels on Telegram have amassed hundreds of thousands of subscribers, standing out among other crypto channels. To understand the secret behind their growth and advertising campaigns, let's go back to the beginning...
Before Pavel Durov's
This attracted the first wave of subscribers to the TON Community channel. At that time, the channel was not particularly active, but it had already gathered over 2 million subscribers
After Pavel Durov's
This stage was associated with a slow influx of subscribers. TON Community promoted only its own channels, and the audience was needed not only by the channels but also by the blockchain itself.
Notcoin became a key player in attracting subscribers by offering subscription tasks. This led to a massive influx of traffic and subscriber value inflation
Any channel that got into Notcoin instantly increased its number of subscribers, although not always of high quality. However, for many, two things mattered: impressive numbers and channel popularity.
TON Foundation decided to improve the quality of the audience and allocated a budget for promoting TON-related channels through Telegram Ads
Each month, 10 thousand euros are allocated per channel, ensuring about 6 million impressions and attracting 17 thousand new subscribers. Thus, the cost per subscription
In conclusion, TON continues to grow and develop, attracting more and more quality subscribers and strengthening its position in the crypto world.
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Telegram has started converting .ton domain names into hyperlinks, such as foundation.ton.
Although the links don't work yet, this is a step towards launching TON sites in the ecosystem.
An update to the TON browser is also expected to support these sites.
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The collection of Telegram Usernames appeared in October 2022 with the launch of Fragment.com. The most valuable names were snapped up instantly. For example, a premine wallet associated with Pavel Durov acquired @news, @auto, and @bank for millions of dollars.
Unfortunately, many premium names are occupied by squatters and are gathering dust in old wallets. Additionally, many usernames belong to Telegram and are sold for a minimum price of 104 TON (~$750), which can be significant for startups.
Possibly, renting usernames on Fragment.com could partially solve this issue, but Telegram's plans for this are currently unknown.
Some usernames are already actively used. For instance, @notcoin, purchased by Vladimir Plotvinov, recently celebrated its anniversary.
Aside from web3 startups, beautiful usernames are also attractive to traditional web projects. Tinkoff acquired @tbank for 20 thousand TON, and DodoPizza is in a legal battle for @dodopizza, which was sold for 70 thousand TON. You can read more about this in a separate post.
Memorable usernames also attract news channels and influencers:
On Fragment.com, you can remove the 'bot' ending from your bots, which helps attract targeted traffic and looks more aesthetically pleasing.
To date, approximately 200 usernames have been converted into bots, among them the most expensive:
Telegram has become a nearly billion-strong community. A username is a unique unit of identity, and the fewer good names that remain, the higher their price.
But it's not all bad news โ
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The listing is scheduled for July 25 at 9:30 UTC.
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Also, Pavel reminded about the mini app store launch โ a catalogue of mini-apps, where users will be able to leave comments about bots, and it will include separation of bots by different types (for example utility bots, AI bots, etc. He clarified that the new feature will be launched already this month.
2024 will go down in history as the year when hundreds of millions of people became familiar with blockchain. Weโre proud that Telegram is at the epicenter of this societal transformation.
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Over the course of this year, a distinct influential group has emerged in web3 โ Telegram/Ton Founders.
Just a year ago, Telegram channels were of little interest to anyone in web3, and TON as a network was not taken seriously.
Now, tier-1 projects are seeking ways to interact not only with MiniApps but also with Telegram KOLs (Key Opinion Leaders).
However, the market is still in its very early stages, and we can see how rapidly it is developing.
In the coming weeks, we may witness significant changes in the web3 landscape and the role of Telegram/TON within it.
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As a part of partnership a reserve of $20m worth of MOCA Coin and Toncoin will be created to stimulate developers and new participants in the TON's ecosystem, including:
โ The Open League
โ Hackathons
โ Acceleration programs
It is planned: to strengthen TON's leadership in GameFi and Web3, and develop TON Society ID.
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It seems that TON Foundation is struggling to meet its goals, leading to budget cuts for Open League activities. This is causing concern.
The lack of a clear strategy and consistent actions is becoming increasingly apparent, affecting budgets and the overall atmosphere around the TON blockchain.
What other factors have influenced the current state of The Open League?
A TVL counter with a final value of 1 billion has appeared on The Open League homepage. However, the results of projects boosted by The Open League have not met TON Foundation's TVL expectations.
Funding problems began with the reduction of airdrops. Only four airdrops were conducted, after which support in this format was suspended. The last airdrop took place on May 9, and since then, there have been no announcements or game activities such as emoji hunts.
This creates the impression that TON Foundation is focused solely on blockchain metrics and is losing touch with the community๐ฏ
The complete removal of DeFi and liquid staking sections is also a worrying sign. Despite attempts to attract projects from other networks and promises of grants, new developers have not appeared on the TON platform.
The number of active projects has remained the same, highlighting the lack of interest from external participants. TON is now perceived as an ecosystem of clickers and memes, which are encouraged for good metrics.
The next step was the reduction of rewards for the token tournament. Initially, the tournament was planned for four weeks with a prize fund of $875,000, but it was shortened to two weeks, and the prize fund was reduced to
Although the tournament was later extended back to four weeks, the prize fund remained unchanged, causing disappointment among participants.
Moreover, the trading tournament with a prize fund of $100,000, which ended on July 10, has not fulfilled its payment obligations. Participants have yet to receive their prizes, undermining trust in TON Foundation and calling its reputation into question.
All these events point to
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Back in April, the figure was 900,000,000.
In an interview with Tucker Carlson, Pavel Durov shared that he expects to reach 1 billion users by the end of the year.
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Last week, the crypto community eagerly awaited the decision from $TON Foundation regarding the extension of boosts for TON/USDt pools.
Currently, thanks to the increased yield, over half a billion USD is locked in these pools.
The outflow of these funds from DEX could significantly impact both the overall TVL of the network and the price of TON.
However, the TON Community decided to extend the pool boosts until the end of 2024.
In the first four weeks, DEX platforms Ston.Fi and DeDust will receive 2.6 million TON (approximately $18.6 million) to increase their TON/USDt pools.
What Are the Current Metrics?
At present, the total TVL of the $TON ecosystem stands at $761 million, with the majority locked in the USDT/TON pair.
DeDust has
$338 million locked, while STON.fi has $235 million.
What Are the Risks and Opportunities?
It's hard to draw definitive conclusions yet, but the trading volume is unlikely to maintain the previous yield level. A decrease in the overall TVL of the ecosystem is also likely
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Analysts attribute the price drop to the extension of the liquidity enhancement program.
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