Thomas Daniels
Bybit, the second-largest cryptocurrency exchange by trading volume, has released a report underscoring the advancements of The Open Network (TON) in its strategic collaboration with Telegram. According to a press release obtained by crypto.news, the partnership aims to onboard up to 500 million users to Web3 by 2028. By leveraging Telegram’s substantial user base of nearly one billion, TON plans to integrate decentralized applications directly into the messaging platform.
The report suggests that TON’s collaboration with Telegram could mirror the success of WeChat’s Mini Programs in China, potentially establishing TON as a frontrunner in Web3 adoption. The report highlights significant milestones, including 280,000 daily active users and 800,000 daily transactions on TON. Toncoin, the network’s native cryptocurrency, has experienced a remarkable surge of over 200% this year, positioning TON as the fifth-largest Layer-1 network with a market capitalization of $17.5 billion.
TON’s Web3 Strategy
A cornerstone of TON’s success lies in its integration of the TON Space wallet and Telegram Mini-Apps, including casual games offering cryptocurrency rewards. This strategy has been instrumental in creating over six million accounts since November 2023. Telegram’s Mini-Apps, embedded within the messaging app, feature “Tap-to-Earn” games such as Notcoin and Hamster Kombat, which combine gaming with crypto-based incentives. Additionally, the ecosystem includes rapidly expanding DeFi Mini-Apps designed for trading and staking.
By incorporating Web3 functionalities into a widely used platform, TON is positioning itself to capitalize on a unique opportunity to drive mass adoption of digital assets and decentralized finance.
