Author: @0xMavWisdom

Editior: Colin Wu

Note: This article is for information sharing only and is not associated with any interest in the items mentioned and is not endorsed in any way.

The Open Network’s native Token, TON, has had a spectacular year in 2022. According to CoinMarketCap, after hitting a low of around $0.75 in June 2022, TON has risen to around $2 today, up over 200%, making it the 22nd largest cryptocurrency in terms of market cap.

Arguably one of the most underrated public chains, TON was originally designed and built in 2018 as a fully decentralized Layer 1 blockchain with scalable and shardable performance, super-fast transactions, low fees, and easy-to-use applications by the team at Telegram, one of the three largest social media outlets in the crypto world. However, due to a legal dispute in 2020, the Telegram team eventually agreed to settle with the SEC, ending with a forced cessation of work. After the Telegram team abandoned the TON project, community developers took over and renamed it to its current name, The Open Network.

The Open Network uses the POS mechanism and the main functions of TON Token are to pay transaction fees, settle payments and validate transactions. The current annual inflation rate based on the basic TON parameters is approximately 0.6%.

It’s worth noting that in late December, TON’s official Twitter account @ton_blockchain was blocked for unknown reasons.

This article will take stock of the main dAPPs native to the TON ecosystem.

(Image source: Coin98Analytics)

(1) Wallet

Crypto Bot

Users can use Crypto Bot for Token storage, transfer, payment and trading on Telegram, in addition to Crypto Bot’s P2P marketplace and subscription features. When using the P2P marketplace, buyers are not charged any fee and sellers are charged 1%; when using the trading feature, both Maker and Taker will charge 1%.

@Wallet

@Wallet is TON’s hosting wallet. Like the Crypto Bot, using Telegram as a carrier allows users to buy tokens through bank cards, receive and trade tokens and send them to other wallets.

Tonkeeper

Tonkeeper is an unmanaged TON-based wallet that gives users more control, with key features including trading, transferring, sending and receiving funds in seconds, and the ability to buy, sell and trade TON through various Dapps such as Uniswap, plus price charts for users to monitor Token price changes.

Tonhub

Tonhub is an unhosted wallet with advanced security and user privacy at its core, allowing users to easily and securely access the wallet and send or receive TON via PIN or biometric login.

(2) DEX

STON.fi

STON.fi is the AMM DEX on the TON blockchain, offering virtually zero fees, low slippage, an extremely simple interface, and direct integration with the TON wallet. Ston.fi currently offers the basic trading and liquidity provisioning features of the DEX, but only supports a small number of Tokens such as AMBR, FNZ, BOLT, TGR, TON, WTON, etc. DeFi Llama data shows that the current TVL of STON.fi is about $540,000, but it is already one of the most mature dAPPs on the TON chain.

TonSwap

TonSwap claims to be the first open source DEX on the TON blockchain, currently supporting only a small number of on-chain native Token such as AMBR, FNZ, BOLT, TGR and cross-chain assets such as USDC, ETH, BTC, etc. TonSwap is still in beta.

DeDust

DeDust, the DeFi platform developed by Scaleton for TON, is the first dAPP in Tonkeeper to fully switch to TON Connect 2.0 and now supports almost all wallets available in the TON blockchain. It currently offers fully functional DEX (swap and liquidity providing) and portfolio estimation capabilities.

(3) stake

TonStake

TonStake claims to be the first and largest stake pool for TON. TonStake offers TON stakers an annualized yield of approximately 8.51% and charges users a 10% service fee. In addition, TonStake provides APIs for third-party service providers to integrate staking functionality. As of January 3, TonStake had over $4.2 million in total staked assets and had distributed over $340,000 worth of stake incentives to users.

(4) Socialfi

Ton.Place

Ton.Place is a social media game that allows users to earn TON by posting exclusive content and sending messages to followers. Users can access all content creation tools by simply logging into their Ton.Place account via Telegram and activating their subscriptions. Players earn TON by posting (the more likes a post gets, the more TON it earns), sending messages (charging for private messages with up to 10 photo or video files attached) and referring friends (inviting friends and getting rewarded for their purchases and earnings).

(5) NFT Marketplaces

Disintar

Disintar is one of the main NFT marketplaces on the TON chain. In addition to providing basic NFT trading functionality, creators can publish their works as NFTs on the Disintar marketplace without technical support. In addition, each user can create an NFT Room to transfer, sell and save. Disintar is currently in beta.

TON Diamonds

TON Diamonds is one of the main NFT marketplaces on the TON chain. Regular users are charged a 5% market fee to trade NFTs at TON Diamonds. However, users can get a reduction in transaction fees by purchasing official diamond NFTs of different grades (Small Diamond — 2% Fee, Medium Diamond — 1% Fee, Big Diamond — The user has the opportunity to get more airdrops, NFT priority sales, participation in IDO, etc. Currently, TON Diamonds has 6 kinds of NFT collectibles such as TON Diamonds and StickerFace Wearables to trade. In addition to the direct purchase route, users can also obtain NFTs through auctions.

Getgems

Getgems is one of the richest NFT markets for collection objects on the current TON chain. Users can purchase, sell, cast and transfer NFT on the platform. The user needs to pay Getgems 5% for each transaction, but does not charge for minting or transferring NFT.

Fragment

Fragment is one of TON’s unmanaged decentralized NFT trading platforms. Unlike the other NFT marketplaces mentioned above, Fragment is the most deeply tied to Telegram and is Telegram’s dedicated trading platform for usernames and virtual numbers, with transactions settled in TON. Initial shelf owners receive all proceeds after a 5% platform fee and conversion fee, and users can also bid for attractive and secure Telegram usernames.

(6) Cross-chain bridge

Official Bridge

Currently supports asset interoperability between two networks, i.e. BSC and ETH and TON, and transfers to and from assets are restricted to TON only.

Orbit Bridge

Orbit Bridge announced its support for the TON network on December 1. Besides the native asset TON, Orbit Bridge supports mutual cross-chains between the TON blockchains including Ethereum, BNB, Klayth, Polygon and other chains covering USDC, USDT, MATIC and other assets. In addition, Orbit Bridge has also strengthened its cooperation with TON blockchain and developed AMM-based DEX Megaton Finance based on TON blockchain developed by Ozys, which will be launched in January this year.

(7) Launchpad

Tonstarter

Tonstarter is the first TON on-chain native launchpad to venture into early-stage promising projects. Tonstarter has already helped projects like Fanzee Labs to complete their fundraising, and is currently looking for projects related to stablecoin, DEX, lending, etc. for deeper collaboration and help with fundraising.

TON Play

TON Play is a GameFi launchpad with a Game Developer Acceleration Program award to help developers enter the Web3 space faster, with 25 games currently in development and 50 games in the pipeline.

(8) Domain name

TON DNS

TON DNS is a TON on-chain domain name service provider, and users must register “.ton” with at least 4 characters and no more than 126 characters. The “.ton” domain name NFT is similar to the popular ENS that users can choose to store, give away or sell the domain name after acquiring it. For the initial unregistered domain names, they will be acquired by public auction; TON domain name NFT secondary trade can be sold in NFT trading market such as getgems.

Overall, the TON ecosystem has dAPPs to fill different needs of users, but it is still in its early stages. Although Telegram’s early team is no longer involved in development, the core TON developers and community still have a relationship with Telegram, whose audience of over 700 million gives The Open Network a huge advantage in building its future ecosystem.

Reference:

M6 Labs

TON Ecosystem Overview

Telegram users can now buy and sell cryptocurrencies without leaving the app. The Open Network (TON) is a fully decentralized Layer 1 blockchain designed by Telegram to onboard billions of users. The Open Network is a Layer 1 blockchain that is scalable, shardable, and designed to attract billions of users and enable quick, low-cost, and energy-efficien…

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a month ago · 6 likes · Kadeem Clarke

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