TON Foundation introduces new liquidity mining rewards program

The TON Foundation, a non-profit organization dedicated to advancing The Open Network (TON), has introduced a liquidity mining rewards campaign with the aim of encouraging users from other chains to join the TON ecosystem. The campaign offers rewards of up to $720,000 in toncoin (TON) and will be active from June 5 to June 30.

To facilitate this initiative, several decentralized exchange (DEX) protocols, including Megaton Finance, DeDust, and STON.fi, have joined forces. These DEXs will distribute the allocated funds across the TON ecosystem.

The launch of this liquidity mining rewards campaign follows the establishment of a two-way bridge that enables the transfer of ERC-20 tokens from Ethereum to Jettons, which are natively wrapped fungible tokens on TON. Key token pools such as jUSDt, jUSDC, and jWBTC have been created to bridge USDT, USDC, and WBTC from the Ethereum blockchain.

Julian Tan, the DeFi ecosystem growth lead at TON Foundation, expressed enthusiasm about the campaign’s impact on ecosystem development. He emphasized the foundation’s commitment to supporting projects built on TON and their goal of bringing Web3 technology to a wider audience through user-friendly dApps.

This announcement follows closely after the TON accelerator program’s announcement of committing $25 million to foster innovation.

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