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TON AppChain Mainnet launched, connecting Decentralized Finance with Telegram's billion-user ecosystem.
TON AppChain Mainnet Launch, Connecting Decentralized Finance with Telegram's Billion Users
This Tuesday, the TON AppChain (TAC) officially launched its Mainnet, aiming to bring Ethereum-compatible Decentralized Finance (DeFi) applications into Telegram's vast user ecosystem.
With the activation of the TAC Mainnet, Ethereum DeFi protocols including Curve, Morpho, and Euler are now available on Telegram. After the mainnet went live, the TAC token saw a short-term surge, with an increase of over 50%, peaking at $0.0248, before retracing to around $0.026.
Technical Path: Introducing Ethereum Decentralized Finance to Telegram
TAC is a Layer 1 blockchain based on CosmosEVM, with the core design philosophy of providing a "TON-specific cross-chain layer" aimed at connecting Ethereum's DApps and developers with Telegram's over 1 billion monthly active users. This technological path addresses the incompatibility of the TON blockchain with EVM, allowing EVM-based DApps to access Telegram's exclusive blockchain infrastructure through TAC.
The TAC ecosystem is supported by multiple infrastructure partners, which will provide cross-chain messaging and oracle data stream services for TAC, ensuring the smooth operation and data accuracy of DeFi applications in the Telegram environment.
Currently, several well-known Ethereum DeFi protocols have landed on TAC via Telegram, providing users with decentralized trading and lending services.
Distribution Strategy: Leverage the User Scale Advantage of Telegram
The strategic core of TAC lies in gaining access to the TON ecosystem and reaching the vast user base of Telegram through TON. It is said that users can use DeFi applications, conduct transactions, or engage in yield farming with "one click."
A laboratory execution partner stated that the launch of TAC's Mainnet is "an important step in bringing DeFi to the mainstream", aiming to provide "real practicality" for over a billion users.
Telegram's ambitions are clearly not limited to this. In January of this year, this social platform reached an agreement with the TON Foundation, requiring all blockchain mini-programs to be developed based on TON. It then launched a digital asset tokenization plan, where the founder mentioned the deep integration of social and finance, stating that every chat window should become a financial gateway.
Compared to other Layer 1 projects, TAC has a unique advantage: it does not need to develop user habits from scratch, but rather stands directly on the shoulders of the giant that is Telegram.
TON Ecosystem: Challenges of Ideal and Reality
Despite the capital's enthusiastic support, the development of the TON ecosystem still faces real challenges. The year 2024 can be described as a tale of two extremes for the TON ecosystem; in the first half of the year, the TVL once exceeded $760 million, but in August it encountered a significant decline, currently standing at less than $150 million.
Currently, TAC is facing three challenges: First, how to attract quality DApp developers to continue building in the context of the overall downturn of the TON ecosystem; Second, to break through the dilemma of "getting praise but not making a mark" and truly activate the participation of Telegram users; Finally, to face the challenges of the regulatory environment, especially when it involves on-chain activities.
It is not an easy task to suddenly get a large number of chat users to engage with DeFi; how far this experiment connecting the two major ecosystems can go remains to be seen.