October 08, 2024
Gate.io has made a $10 million strategic investment in The Open Network (TON) blockchain to strengthen its collaboration with the TON Foundation and boost the growth of Telegram-based projects. With this investment, Gate.io aims to play a larger role in the governance and development of the TON blockchain. The company also plans to introduce new products, including a CeFi-driven Telegram mini-app and a Gate Wallet within Telegram, to support and expand the TON ecosystem.
Project | Latest Raise | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|---|
TON Blockchain | $10M | October 08, 2024 | Layer 1 |
Gate Group is actively participating in the TON Society’s Hackers League hackathon, one of the year’s largest hacker events, offering a prize pool of up to $2 million and featuring key bounty tracks from leading TON projects. This event will include an offline bootcamp across 19 cities worldwide, encouraging global participation and innovation.
TON-based projects are well-positioned for mass adoption through the growing Telegram ecosystem, which is expanding its services to Web3 startups. Dr. Lin Han, Founder and CEO of Gate.io, highlighted the TON ecosystem’s potential due to its large Telegram user base and fast, low-cost blockchain technology, making it an attractive platform for Web3 applications and developers.
About TON Blockchain
The Open Network (TON) is a decentralized blockchain platform originally developed by the team behind Telegram. It aims to create a more open and efficient internet by integrating blockchain technology with various applications. TON supports fast transactions, decentralized storage, and a wide range of decentralized applications (dApps). Its native cryptocurrency, Toncoin, is used for network operations and transactions. By leveraging Telegram’s large user base, TON seeks to drive mass adoption of blockchain technology and foster innovation in the Web3 space.
Website: https://ton.org/
About Investor
Investor: Gate.io
Gate.io is a comprehensive cryptocurrency exchange that allows users to buy, sell, and trade a wide variety of digital assets. It supports over 2,600 cryptocurrencies and offers various services, including spot trading, futures, margin trading, and staking. Gate.io also provides advanced security features and a user-friendly interface, making it accessible for both beginners and experienced traders. The platform aims to foster innovation in the crypto space by supporting new projects and offering a range of financial products.
Location: George Town, Cayman Islands
Website: https://www.gate.io/
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