TON Accelerator, announced TON:Acc, an incubation program to accelerate the growth of early-stage startups on the blockchain network. Managed by TON Venture, the initiative promises to allocate up to $2.5 million for the first batch of five projects. Each selected startup is set to receive up to $350,000 in funding over three months, during which the TON:Acc team will provide comprehensive hands-on support.
What’s Happening in the TON Ecosystem?
This participation is designed to transform startups from concepts into fully implemented business models and integrate them seamlessly into the expanding TON ecosystem. The program’s comprehensive approach will offer not only financial support but also strategic guidance. TON Accelerator President Sophia Rusconi highlighted the strategic benefits provided by TON:Acc in an interview:
“For many, TON Blockchain is key for developers to deploy Web3-enabled projects directly to Telegram and access the platform’s over 950 million users. TON:Acc will take this to the next level by providing the necessary funding, expertise, and support to promising teams to accelerate their growth and scale seamlessly to the millions of active users that TON-based projects like Wallet and Notcoin have already reached.”
TON Ventures Managing Partner Ian W shared his enthusiasm about the future integration of TON with Telegram Mini Apps, especially following airdrop events:
“The airdrop frenzy has piqued many people’s interest in the powerful combination of TON and the Telegram Mini Apps platform. We deeply believe this is just the first phase of TON ecosystem growth, and we are incredibly excited to lead the next evolution of TON-based mini apps that will bring real-world utility to Telegram’s Web3 ecosystem.”
The launch of TON:Acc comes at a critical time. This year, the TON ecosystem has witnessed significant growth, with its total value locked (TVL) rising from $14.23 million in January to $350 million in September.
Details on the Matter
During this period, the ecosystem faced challenges, including two major outages on August 27 and 28 due to significant transaction volumes following the launch of the memecoin project DOGS. These issues highlight the need for scalable solutions as the network expands.
Meanwhile, Telegram CEO Pavel Durov is dealing with significant legal challenges. Durov’s arrest on August 25 in France on charges such as organized fraud led to a brief drop in Toncoin’s value. Although he was released on August 28 under strict conditions, including a $5.5 million bail, legal challenges persist.
