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OKX Ventures, The Open Platform (TOP), and Folius Ventures have announced the launch of a $10 million Telegram Growth Hub. This initiative aims to boost innovation within The Open Network (TON) blockchain and expand Telegram's mini-app ecosystem.
The Telegram Growth Hub will select up to ten promising projects for a two-month acceleration program. Teams chosen for this initiative will be eligible for funding from the $10 million pool. Applications are open until November 29, 2024.
“We’ve long recognized the immense potential of the Telegram ecosystem and its choice of TON as its preferred blockchain,” Jeff Ren, Partner at OKX Ventures, said.
Innovation on Telegram
The Telegram Growth Hub will focus on three key areas designed to elevate user experience and engagement:
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User Onboarding and Educational Tools: The hub will support projects that create intuitive user interfaces and educational resources. This approach aims to simplify the onboarding process for new users, making it easier for them to navigate the TON blockchain.
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Trading Capabilities and Networks: Another focal point will be the development of on-chain trading features. This includes decentralized exchanges (DEXs), NFT trading, and liquid staking, enabling users to engage in more advanced trading functionalities.
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Mini-App Ecosystem Expansion: The growth hub will also promote innovative mini-apps for Telegram, particularly in gaming and entertainment. This expansion is reportedly crucial for broadening the use cases of TON, catering to the diverse interests of Telegram's user base.
Comprehensive Support for Selected Projects
Projects selected for the Telegram Growth Hub will receive extensive support, including:
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Funding for Talent Acquisition: Selected teams can access capital to attract skilled professionals and build vibrant communities around their projects.
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Developer Resources: OKX will provide a suite of developer tools, including OKX Connect, which facilitates wallet integration for developers working with TON. Additionally, TOP will offer resources such as Tonkeeper, the TON Apps API, Playdeck, the Ton App Chain, Ston.fi, and the Getgems NFT Platform.
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Mentorship and Networking: The hub will connect selected teams with experts from OKX, TOP, and Folius Ventures, providing guidance and marketing support. This network will also facilitate introductions to key stakeholders, further enhancing project visibility and potential for success.
Recent Developments in the TON Ecosystem
The launch of the Telegram Growth Hub follows Gate(.)io’s recent strategic investment of $10 million into the TON blockchain, aimed at strengthening collaboration with the TON Foundation.
Dr. Lin Han, Founder and CEO of Gate(.)io, highlighted the strong potential of the TON ecosystem due to its large user base and fast, low-cost blockchain technology. He noted that TON is an ideal platform for attracting Web3 applications and developers, providing promising prospects for large-scale user growth.
Gate Group will also participate in the TON Society's Hackers League hackathon. The hackathon features a total prize pool of up to $2 million and will host offline boot camps across 19 cities globally.