Announcements Gate.io Announces $10 Million Investment in TON Blockchain to Boost Telegram-Based Projects

Gate.io Announces $10 Million Investment in TON Blockchain to Boost Telegram-Based Projects

2024-10-08 11:03:05 UTC 63110 Read

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Gate.io has announced a $10 million strategic investment in The Open Network (TON) blockchain. This investment aims to enhance collaborations with the TON Foundation and accelerate the growth of Telegram-based projects.

With this investment, Gate.io plans to deepen its involvement in the governance of the TON blockchain and contribute to its ongoing development. The company will also focus on launching new products, such as an official CeFi-driven Telegram mini-app and a Gate Wallet within Telegram, to further support and expand the TON ecosystem.

Gate Group is also actively participating in the TON Society’s Hackers League hackathon, one of the largest hacker events of the year. Offering a total prize pool worth up to $2 million and featuring key bounty tracks from leading TON projects, this event promises to be a groundbreaking experience for participants. An offline bootcamp will be held across 19 cities worldwide, fostering global participation and innovation.

TON-based projects present a compelling use case for mass adoption through the Telegram ecosystem, which has seen considerable growth as it expands its services to Web3 startups. Dr. Lin Han, Founder and CEO of Gate.io, noted, “The TON ecosystem holds strong potential due to its large Telegram user base and fast, low-cost blockchain technology. This makes it an ideal platform for attracting Web3 applications and developers, with promising prospects for large-scale user growth and network effects.”

While Telegram and TON operate as separate entities, the messaging platform and blockchain protocol remain closely aligned, creating a unified environment for innovation.

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 October 8th, 2024

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