1. BITBILIHome
  2. Article

TON Accelerator Program to inject $25 million into revolutionary blockchain projects on The Open Network (TON)

• 122 views

TL;DR Breakdown

  • The TON Accelerator Program has been launched, injecting up to $25 million into transformative projects in the TON ecosystem.
  • Partnership and mentorship opportunities are available to selected projects with renowned industry players on board.
  • The program initially targets projects from the Hack-a-TONx DoraHacks event, providing funding and support to those building on TON.

The Open Network (TON), an avant-garde technology aiming to integrate all blockchains and Web2 internet into a unified network, revealed today that it had launched its highly anticipated TON Accelerator Program. The TON Accelerator program is a strategic initiative that will catalyze the growth of the TON ecosystem by injecting up to $25 million into transformative projects.

According to a press release seen by  Cryptopolitan, the funding, generously provided by the TONcoin Fund, a dedicated $250 million ecosystem fund supporting visionary founders building on the TON network, will be channeled into a diverse range of projects. With a particular emphasis on decentralized finance (DeFi), each investment will range from $50,000 to $250,000 per project, fostering innovation across the TON ecosystem.

Partnerships and mentorship: driving success in the TON Accelerator Program

The TON Accelerator Program will not be limited to financial support alone. Collaborating with prominent industry players, the program aims to forge partnerships and provide invaluable mentorship to the selected projects.

Among the esteemed accelerator partners are Gotbit, a leading hedge fund and Market-Making company specializing in trading and risk management solutions; Web3port, a dynamic developer of tools connecting Web3.0 startups and contributors to accelerate innovation; Tonstarter, the primary fundraising platform on TON, TEB, a flourishing incubator for Web3 developers based in South Korea, and Cypher Capital, a distinguished multi-strategy crypto investment firm located in the United Arab Emirates.

As the TON Foundation continues to establish strategic alliances with major accelerators in the web3 space, the pool of TON Accelerator Program partners is set to expand further. This collaborative ecosystem will foster an environment conducive to innovation, attracting budding developers and accomplished repeat founders across global locations pivotal to the blockchain landscape.

“We are thrilled to unveil the TON Accelerator Program as our dynamic ecosystem continues to evolve and captivate new talent. This is just the beginning of the many diverse incubators that will receive support in the future. Funding plays a pivotal role in our localized hubs rollout strategy, and our ecosystem will strive to attract innovative developers and successful repeat founders across various key global locations.”

Justin Hyun, Head of Incubation and Growth at TON Foundation.

Speaking on behalf of Cypher Capital, Chairman Bill Qian expressed his enthusiasm, emphasizing the unique nature of the program within the web3 universe. He noted, “The TON Accelerator Program is revolutionizing the incubator concept that gained fame in the web2 ecosystem. By leveraging the best practices of web3 protocols and methodologies, we are delighted to contribute to this next-generation program.”

Hack-a-TONx DoraHacks: A Springboard for funded projects

To kickstart this ambitious funding round, TON Accelerator Program will initially focus on projects that participated in Hack-a-TONx DoraHacks. However, this captivating two-month-long virtual hackathon will be conducted in collaboration with DoraHacks, a globally acclaimed hacker organization bridging the gap between hackers and entrepreneurial ideas, serving as a springboard for exceptional projects.

Intrigued developers and innovative teams are invited to submit their projects for consideration, with a key prerequisite being the utilization of TON technology (i.e., support for TVM & TON smart-contract language). Additionally, projects should be minimum viable product (MVP) ready, requiring marketing, business development, and technology support. Teams with proof-of-concept or prototype projects requiring substantial technical support are encouraged to apply for earlier-stage grants.

With the launch of the TON Accelerator Program and its significant investments, the TON ecosystem is poised to experience a surge of innovation, further solidifying its position as a leader in the blockchain space. By fostering partnerships, mentorship, and providing vital financial support, the TON Accelerator Program is set to propel the development of projects within the TON network, revolutionizing the future of blockchain technology.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:TON Accelerator Program to inject $25 million into revolutionary blockchain projects on The Open Network (TON)

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月24日 10:16
Next 2023年5月24日 11:33

Related articles

  • MetaMask clarifies misinformation on crypto taxes

    TL;DR Breakdown MetaMask has clarified the news making the rounds about withholding crypto belonging to users to pay tax. Users warn about the need for accurate information in the crypto space. ConsenSys, the company behind the popular MetaMask browser-based cryptocurrency wallet, has responded to circulating tweets that contain inaccurate information about the company’s terms of service. In a statement, ConsenSys clarified that MetaMask does not collect taxes on crypto transactions and that there have been no recent changes to the terms of service to indicate otherwise. MetaMask debunks crypto tax rumors The confusion arose from a misinterpretation of section 4.2 of MetaMask’s terms of use, which pertains to fees and payment. ConsenSys emphasized that this section is only applicable to products and paid plans offered by ConsenSys itself and does not apply to MetaMask or any other products that do not involve sales tax. The company clarified that the tax section of their terms is related to sales tax for specific products and non-capital tax on crypto transactions. The inaccurate claim quickly spread across various social media platforms, including Twitter,…

    Article 2023年5月23日

  • Coinbase users report scams and phishing attacks

    TL;DR Breakdown Coinbase users have reported scams and phishing attacks against their accounts. Users complain prompts security concerns for the company. Description Coinbase users have taken to Twitter to share their experiences of scams and phishing attacks targeting the crypto exchange’s services and applications. In recent weeks, users have reported incidents involving scammers utilizing Coinbase’s domain name in fraudulent activities. Coinbase users report scams using the company’s domain One such case was disclosed on July 7 by … Read more Coinbase users have taken to Twitter to share their experiences of scams and phishing attacks targeting the crypto exchange’s services and applications. In recent weeks, users have reported incidents involving scammers utilizing Coinbase’s domain name in fraudulent activities. Coinbase users report scams using the company’s domain One such case was disclosed on July 7 by a Twitter user named Daniel Mason, who received texts and emails from scammers using the domain Coinbase.com. The fraudster initially contacted Mason using a genuine phone number, followed by an email from a Coinbase.com domain. Subsequently, Mason received a phishing text message containing a link…

    Article 2023年7月10日

  • Cardano’s Mithril Mainnet Beta Launch: A New Era of Functionality

    TL;DR Breakdown Cardano’s Mithril mainnet beta launch has been finalized, with the team vigilantly monitoring the network’s performance. Mithril introduces a novel staking-based protocol, revolutionizing block verification and empowering decentralized decision-making. Description Cardano, one of the world’s leading blockchain platforms, has reached a significant milestone with the completion of its Mithril mainnet beta launch. This remarkable achievement sets the stage for a new era of functionality, marking a vital step forward in Cardano’s journey toward creating a robust, secure, and scalable blockchain ecosystem. Contents hide 1 Mithril’s … Read more Cardano, one of the world’s leading blockchain platforms, has reached a significant milestone with the completion of its Mithril mainnet beta launch. This remarkable achievement sets the stage for a new era of functionality, marking a vital step forward in Cardano’s journey toward creating a robust, secure, and scalable blockchain ecosystem. Contents hide 1 Mithril’s Performance and Network Monitoring 2 Unveiling Mithril’s Innovative Functionality 3 Implications and Future Prospects 4 Conclusion Mithril’s Performance and Network Monitoring As the mainnet beta launch progresses, the Mithril team has expressed its commitment to…

    Article 2023年8月5日

  • Top U.S. banks on the verge of loan loss disaster

    TL;DR Breakdown The top U.S. banks are bracing for a significant increase in loan losses, the biggest since the pandemic started. This is due to rising interest rates and the impact of inflation on borrowers. An estimated $5 billion has been written off due to defaulted loans in Q2 of 2023, nearly double from a year ago. Description The tumultuous tide of the U.S. banking sector is about to witness a mammoth wave in the form of escalating loan losses. As the nation’s top financial institutions prepare to release their second-quarter results, they seem to be on the cusp of reporting a dramatic increase in loan defaults, a nightmare scenario unseen since the … Read more The tumultuous tide of the U.S. banking sector is about to witness a mammoth wave in the form of escalating loan losses. As the nation’s top financial institutions prepare to release their second-quarter results, they seem to be on the cusp of reporting a dramatic increase in loan defaults, a nightmare scenario unseen since the dawn of the Covid-19 pandemic. The sting of higher…

    Article 2023年7月11日

  • Inferno Drainer: The new crypto and NFT nightmare – What or who is it?

    TL;DR Breakdown Scam Sniffer has found that some phishing attacks are linked to Inferno Drainer, a multi-chain scam vendor that charges 20% of the stolen assets.  So far, $5.9 million has been taken by analyzing data from different chains, with about 4,888 victims. Scams posing as services have become an increasing problem in the crypto community. In the ever-evolving landscape of cybercrime, a new threat has emerged, leaving individuals and businesses vulnerable to financial losses and privacy breaches – Inferno Drainer. The Inferno Drainer phishing scam, aptly named for its ability to drain victims’ resources, has recently come to the forefront of crypto evolution. This sophisticated “scam-as-a-service” operation has already pilfered an astonishing $5.9 million since March, underscoring the urgent need for increased vigilance and robust security measures. Inferno Drainer’s sophisticated phishing scam leaves millions vulnerable Operating behind a veil of anonymity, the Inferno Drainer has quickly gained notoriety within the dark web. The group behind this scam-as-a-service operation remains shrouded in mystery, employing advanced techniques to evade detection by law enforcement agencies and cybersecurity experts. According to the Web3…

    Article 2023年5月23日
TOP