$TON Crosses the Rubicon
tl;dr
- Megatonne has 2.8 million TON in TVL. DeDust and STON.fi had a higher increase in TVL compared to the beginning and spring of 2023.
- The majority of the TVL is concentrated in 2–3 large pools on each DEX. These are mostly TON/… pools
- One wallet has staked 15% of all staked TON on the blockchain — 25.6 million TON
- In two months, the bemo protocol statistics had more than doubled
- There is a correlation between the activity of trading telegram bots and TON price
Ecosystem
The TON project was originally a development of Telegram, the blockchain platform began to be created back in 2018. Unfortunately, in 2020, the SEC imposed a ban on the launch of the blockchain, and Durov stopped leading the project, handing it over to the community, which in turn changed the name of the project itself from “Telegram open network” to “The open network”, and the name of the token from GRAM to TONcoin.
TON is technology. The product is a next-generation blockchain platform with many components that can greatly improve the quality of interaction with WEB3. For example, DEXes is a great option for competent Web3.
Exchanges 🟡 🔁 💎
Over the Summer 2023 period, TVL increases occurred on all major DEX on TON listed on re:doubt, with STON.fi, DeDust and Megaton rapidly increasing their market shares:
Megaton is currently leading with a 2.8m TON share in TVL. However, DeDust and STON.fi had higher growth in TVL compared to the beginning and spring of 2023.
In addition, it can be observed that most of the TVLs on some platforms are one or two pools.
Megaton:
- EQCJ…505O — 1.1m TON — oUSDT/oUSDC pool
DeDust:
- EQDc…Funy — 477k TON — SCALE/TON pool
- EQCk…eYDw — 261k TON — TON/jUSDT pool
- EQCH…q95Y — 217k TON — stTON/TON pool
STON.fi:
- EQAK…UbaM — 404k TON — pTON/jUSDT pool
tonflex.fi:
- EQDE…pvEc — 35k TON — TON/jUSDC pool
- EQCn…pDnL — 20k TON — TON/jUSDT pool
tegro:
- EQDm…xbG- — 4k TON — TON/VIRUS pool
This June, we welcomed the first DEX aggregator to the ecosystem. Optus is the first DEX on TON that leverages the aggregated liquidity of multiple DEXs on TON. And for 4 months, only 117 unique users used this aggregator.
Staking&LSD📈
TON is a Proof-of-Stake network. It means that its security and stability are maintained by Validators. Anyone can become a validator or join the validators pool. As a result, you will acquire Toncoin while helping to secure the network.
TON blockchain has witnessed a recent development with the launch of BEMO, a pioneering liquid staking derivative application. This development has raised intriguing questions about the potential growth of the TON chain in the context of the narrative surrounding Liquid Staking Derivatives (LSD) and LSD.fi on other blockchains, such as Ethereum.
Lido, a pioneering liquid staking protocol on Ethereum, played a pivotal role in popularizing the concept of LSD. BEMO, as the first liquid staking derivative application on the TON blockchain, has the potential to replicate the success of Lido. The introduction of BEMO not only brings liquidity to TON’s staking ecosystem but also aligns with the broader narrative of making blockchain assets more versatile and usable.
Despite Lido’s integration of LSD into Polkadot, the Polkadot ecosystem has experienced stagnation. The growth and adoption anticipated in this environment have not materialized as expected.
With 15% of all TON staked by only one depositor, we can say that BEMO will at least reduce the impact of this whale and bring new users to the blockchain’s security.
First LSD on TON
Bemo just accomplished a fantastic milestone by moving up to the Top 2 spot on TON. And business is booming. Only 610k have been deposited, according to figures that were published in their official tweet in July, which stated that there are 125 different depositors. According to current re:doubt statistics, there have been 1.5 million deposits made, and there are 349 unique users. In just two months, this has increased by nearly 2.5 times!
Let’s also generate an alert when the total TON staked reaches 2 million TON tokens to test the “alerts” feature on re:doubt. This is visible at the following link:
How Telegram bots conquer the world 🤖
Telegram bots allow you to greatly simplify your work. Accepting payments, trading, wallet actions, and tracking cryptocurrency data — all this has become available literally in one click. For example, Unibot is the leading Telegram bot that allows users to trade cryptocurrencies without leaving the messenger application.
The number of Telegram bots is growing, and bot tokens are growing prohibitively in value. However, it is necessary to understand whether bots will increase in popularity? Will Telegram integrate TON?
Although Telegram bots have different usage scenarios, their price dynamics in recent weeks have correlated closely with those of TON. The excitement around TON has also attracted attention to Telegram bot tokens, which confirm the historical connection between the TON network and the instant messaging giant.
What’s next?
TON Foundation has announced the integration of the TON Space cryptocurrency wallet into Telegram. According to the announcement, the function is available in the messenger’s settings, but apparently only to a limited number of users at first. A large-scale rollout is planned for November.
In conclusion, the integration of a cryptocurrency wallet like TON Space into Telegram has the potential to impact the TON ecosystem and existing crypto bots. It could drive increased adoption of TON and other cryptocurrencies while presenting challenges and opportunities for crypto bots to adapt to the changing landscape.