TON Accelerator Launches $5 Million Program to Stimulate Cross-Chain Growth
TON Accelerator, a program focused on the incubation of projects on the blockchain network of TON, has announced the launch of a major funding program of $5 million aimed at driving cross-chain growth. Announced on Nov. 4, the initiative is supported by TON Ventures and Mantle EcoFund, and is expected to spur the development and usage of decentralized applications, in particular DeFi, cross-chain gaming, and staking projects. This program is a strategic boost for projects seeking to scale across multiple chains at a time when the TON ecosystem is growing.
Introducing Synergy Cohort for Project Support
The newest initiative, “Cohort 2.0: Synergy,” expands on the previous success of the TON Accelerator, which in September launched a $2.5 million program incubating five projects from ideation to product development. Other than financial support, projects receive hands-on mentorship to lead them toward success within the wider TON ecosystem. The new Synergy cohort takes this a step further by broadening the base financially but focusing on high-impact projects with cross-chain capabilities.
Synergy aims at bringing more interconnectivity into the ecosystem; it will support selected projects with mentorship, funding, and strategic guidance in order to further develop the projects. It will offer projects an opportunity to scale within the TON network, but also tap into Mantle – a layer-2 scaling solution creating a bridge for cross-chain interactions and seamless innovation.
Leveraging the Large User Base of Telegram
With the global user base of Telegram closing in on 1 billion, this positions the various projects around TON with an unparalleled advantage in reach and engagement. In such a context, the decentralized applications can easily tap into this reach through the blockchain that seamlessly integrates with Telegram. The Synergy program aims to provide projects with the opportunity to maximize value capture from Telegram’s ecosystem, enabling millions of users for TON-based applications, especially in regions where Telegram is a main tool for communication.
Unlock Cross-Chain Liquidity and Growth in Total Value Locked
The program, valued at $5 million, intends to finally unlock cross-chain liquidity, which could be valued as high as $90 billion. The ultimate beneficiaries are going to be projects in DeFi, cross-chain gaming, and staking, given that all these sectors require substantial liquidity in order to function. This comes at the right time, as TVL in the TON ecosystem has seen some substantial growth. According to DeFiLlama, TON’s TVL has jumped from $75 million at the start of 2024 to over $707 million today, standing as testament to the rising adoption of the network and value within it.
Innovation and adoption are at the core of Synergy, and the TON Accelerator will look to continue strengthening TON’s positioning in the blockchain space-spearheading more decentralized solutions for a wider audience, with further opening cross-chain opportunities both for developers and users.
