The TONcoin Fund will offer awards totalling $250 million to founders who are working on The Open Network layer-1.
The TONcoin Fund will be the first ecosystem fund dedicated solely to assisting startups that build on The Open Network.
Huobi Incubator, Kucoin Ventures, the MEXC Pioneer Fund, TON Miners, 3Commas Capita, and Kilo Fund were among the investors in the round. The TON Foundation will support the ecosystem fund and select initiatives with grants. According to reports, the funds would be distributed when initiatives are accepted and subsequently developed.
TONcoin to offer the first decentralised exchange
The Open Network, according to Benjamin Rameau, Managing Partner of TONcoin Fund, offers huge prospects to enable mainstream adoption of blockchain technology. Because of Telegram integration efforts by the community via in-app bots and native interface suggestions, TON might become the first blockchain network available to millions of users. The TONcoin Fund is thrilled to be supporting the first decentralised exchanges, stable currencies, NFT initiatives, and other dApps built on the TON platform.
The TON Foundation also has a strategy for the ecosystem’s growth, according to the news release, and it will attempt to give assistance in a decentralised manner.
