Gate.io Announces $10 Million Investment in TON Blockchain to Support Telegram-Based Projects
Date: 2024-10-10 Author: Oliver Abernathy Categories: BLOCKCHAIN
This investment will allow Gate.io to deepen its involvement in the governance of the TON blockchain and contribute to its further development. As part of its plans, the company also intends to launch new products, such as the official CeFi mini-app for Telegram and the Gate Wallet inside the messenger, which will contribute to the expansion of the TON ecosystem.
In addition, Gate Group is actively participating in the Hackers League hackathon organized by TON Society, which is considered one of the largest hacker events this year. The prize pool is up to $2 million and includes key rewards from leading TON projects. The hackathon will be held in an offline camp format in 19 cities around the world, which will promote global participation and innovation.
TON-based projects offer attractive opportunities for mass adoption through the Telegram ecosystem, which continues to evolve and expand its services to Web3 startups.
“The TON ecosystem has great potential due to Telegram’s large user base and fast, low-cost blockchain technology. This makes it an ideal platform to attract Web3 apps and developers, with promising prospects for massive user growth and network effects,” said Dr. Lin Han, founder and CEO of Gate.io.
While Telegram and TON operate as separate entities, the messenger and blockchain protocol remain tightly connected, creating a unified environment for innovation.
