MEXC Crypto Exchange Partners with TON Foundation for Web3 Accessibility
Date: 2023-10-05 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, IN WORLD
Partnership to Drive Web3 Accessibility
The Open Network (TON), a blockchain project initiated by Telegram's team, has taken a big step forward in achieving its vision of a decentralized web. MEXC Ventures, the venture division of the cryptocurrency exchange MEXC, has entered into a strategic partnership with the current project developer, TON Foundation. The primary goal of this collaboration is to promote global Web3 accessibility by eliminating the obstacles that hinder its adoption.
As part of this deal, TON Foundation secured "eight-figure investments," according to the announcement. Furthermore, the cryptocurrency exchange MEXC will provide marketing services and promote projects built on the TON network within its platform.
TON Coin Trading Fee Waiver and Lending Services
MEXC Exchange has ambitious plans in conjunction with the TON project. They intend to launch a lending service backed by TON and abolish trading fees for the Toncoin (TON) token. Previously, trading fees for this cryptocurrency were on par with those of most other assets on the MEXC exchange, as stated by Justin Hen, the Director of Development at TON Foundation, in an interview.
Continued Support for TON-Based Applications
In addition to these initiatives, MEXC Ventures will continue to provide financial backing for TON-based decentralized applications (DApps). This commitment extends to projects like the autonomous protocol Megaton Finance, the gaming platform TONPlay, Fanzee, and Sonet. Hen also revealed that discussions are underway regarding potential funding for the Wallet app within Telegram.
In early autumn, Telegram integrated Wallet as a mini-application, enabling users to access cryptocurrencies such as TON, Bitcoin, and USDT directly from the messenger's interface.
Simplifying Blockchain for Everyone
Speaking about the Wallet integration, Hen emphasized the importance of making blockchain technology user-friendly for all, regardless of their knowledge of the blockchain world. With TON in Telegram, cryptocurrency becomes as straightforward as sending text messages.
About MEXC Crypto Exchange
Founded in 2018 and registered in the Seychelles, MEXC Crypto Exchange has quickly risen through the ranks. According to CoinGecko data, the platform currently holds the 13th position in terms of daily trading volume. As of October 4th, MEXC boasts a daily trading volume of $585 million.
