Tonstarter Completes $1.5M Launch Round as Primary Fundraising Platform for The Open Network (TON).

The TON Foundation, a nonprofit association of developers and enthusiasts promoting The Open Network (TON), today announced that Tonstarter, the premier fundraising platform on TON, has closed a $1.5 million seed round has.

The TON Foundation, a nonprofit association of developers and enthusiasts promoting The Open Network (TON), today announced that Tonstarter, the premier fundraising platform on TON, has closed a $1.5 million seed round has.

Tonstarter, which will support countless projects on TON, a revolutionary technology to unify all blockchains and the Web2 Internet into one open network, has received seed funding from Kingsway Capital, an investment management firm, Gate.io, a cryptocurrency exchange, and DWF Labs. a subsidiary of Digital Wave Finance (DWF), one of the world’s fastest growing high-frequency cryptocurrency trading firms.

Tonstarter is incubated by First Stage Labs, a TON ecosystem venture builder. Platform advisors include Tal Kol, TON ambassador and founder of Orbs, an open, decentralized and public blockchain infrastructure run by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus , and Justin Hyun, Head of Incubation at TON Foundation.

The fundraising platform will support a variety of projects across the TON ecosystem, created to bring real Web3 to billions of Telegram users. Sectors of focus include decentralized finance (DeFi), decentralized exchanges (DEXs), non-custodial wallets, lending and lending protocols, gaming and the metaverse.

Alex Plotvinov, Founder of Tonstarter said:

“We are pleased to announce the closing of a $1.5 million seed round today. As the premier fundraising platform on TON, Tonstarter will promote and support so many amazing projects in the TON ecosystem, offering expertise and a network while connecting builders with relevant investors and advisors. Our goal is to make investments in blockchain projects that are transparent, streamlined, and at scale.”

Projects incubated by Tonstarter will have access to the Telegram app, opening up the social network’s 700 million user base to a network originally launched by the Telegram team. The prospect of Telgram’s user base having access to Web3 services such as non-custodial wallets and DEXs creates huge potential for projects to be incubated by Tonstarter, according to Plotvinov. He added:

“Imagine even if only 5 percent of Telegram users start making payments to other users or start playing Web3 games. That’s already 35 million monthly active users, which is more than any other blockchain. That’s why we want to enable Tonstarter community members to connect with the Telegram bot.”

Additionally, Tonstarter Launchpad, a platform for projects to raise capital and build a community, has successfully completed an Initial DEX Offering (IDO) and Airdrops with over 50,000 community members.

Megaton Finance, an AMM-based DEX on the TON mainnet that offers various revenue generation opportunities such as swap and yield farming and a dashboard, used the platform to launch a community incentive program that already has 17,000 participants.

Over the open network

The Open Network (TON) is a revolutionary technology to unite all blockchains and the Web2 Internet in an open network. It was born to bring real Web3 to billions of Telegram users. Originally launched by the Telegram team who inherited their freedom and openness ethos, it has been operated as an open source community project since 2020. TON’s Layer 1 architecture is designed to scale up to 2×32 workchains, each of which can be divided into up to 2×60 shardchains. It can support millions of transactions per second almost instantly.

Telegram has helped people stay connected. TON will transform communities into economic spaces.

Sound starter links: website, twitter, telegram.

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