Telegram-Backed Crypto Project Surpasses $300 Million in Total Value Locked (TVL) – TON Coin ($TON) Soars

<ul>
  <li>The total value locked (TVL) in The Open Network (TON) blockchain has surpassed $300 million.</li>
  <li>This marks a tenfold increase since the beginning of March, driven by ongoing ecosystem initiatives.</li>
  <li>According to DeFiLlama, the TVL surged from $23 million to $315 million due to The Open League program.</li>
</ul>
<p><strong>Discover how The Open Network (TON) blockchain achieved a tenfold increase in total value locked, surpassing $300 million, driven by innovative ecosystem initiatives and robust architecture.</strong></p>
<h2><strong>TON Blockchain’s Total Value Locked Surpasses $300 Million</strong></h2>
<p>The significant increase in TVL is largely attributed to TON’s ongoing ecosystem initiative, The Open League, which incentivizes users of the network’s top decentralized applications (dApps). DeFiLlama data indicates that since the launch of this incentive program, the TVL on the TON blockchain has skyrocketed from $23 million in early March to an impressive $315 million.</p>
<h3><strong>Driving Factors Behind the Growth</strong></h3>
<p>The rapid growth has been primarily driven by decentralized exchanges like Ston.fi and Dedust, as well as liquid staking projects such as Tonstakers and bemo. In addition to the increase in TVL, the network recently onboarded 1 million wallets during a token creation event for Notcoin, a viral clicker game developed as a Telegram Mini App. This influx of new users showcases TON’s robust architecture, which facilitates transactions without network disruptions, increased fees, or delays.</p>
<h3><strong>Historical Context and Future Outlook</strong></h3>
<p>Initially designed as a blockchain project by the popular messaging platform Telegram, The Open Network raised $1.7 billion through two private token sales in 2018. However, the mainnet launch was delayed due to a legal dispute with the U.S. Securities and Exchange Commission over unregistered securities offerings. In response, community members established the TON Foundation and continued development, culminating in the launch of The Open Network in 2021. Telegram continues to support the blockchain by promoting its use for applications such as revenue sharing with channel owners.</p>
<h3><strong>Conclusion</strong></h3>
<p>The Open Network’s impressive growth in total value locked underscores the potential of its ecosystem initiatives and robust infrastructure. As the network continues to expand and attract new users, it remains a noteworthy player in the blockchain space, offering valuable insights and opportunities for investors and developers alike.</p>