1. BITBILIHome
  2. Article

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

• 111 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

  • Stanford University intends to refund $5.5M received from the FTX foundation

    TL;DR Breakdown Allegations suggest that the FTX founder’s family rerouted company funds to Stanford University, prompting the institution to consider refunding $5.5 million. Beyond Stanford, the Metropolitan Museum of Art also plans to return substantial donations from FTX, emphasizing the widespread impact of FTX’s financial controversies. Description In a rapidly evolving situation that interweaves the worlds of cryptocurrency, academia, and art, Stanford University and the Metropolitan Museum of Art have found themselves entangled in the financial web spun by the once-prominent crypto exchange, FTX. Allegations of fund rerouting by family members of FTX’s founder have thrust the entities into the spotlight, prompting … Read more In a rapidly evolving situation that interweaves the worlds of cryptocurrency, academia, and art, Stanford University and the Metropolitan Museum of Art have found themselves entangled in the financial web spun by the once-prominent crypto exchange, FTX. Allegations of fund rerouting by family members of FTX’s founder have thrust the entities into the spotlight, prompting a deep dive into the nature and intent of donations made.  Contents hide 1 The background: Ties between Stanford and…

    Article 2023年9月20日

  • Bolivia turns to Chinese yuan for international settlements

    TL;DR Breakdown Bolivia’s Central Bank is now using the Chinese yuan for international settlements due to dollar scarcity. The country is executing transactions with the yuan even without Chinese banks in Bolivia. Plans are in place to establish Chinese banks in Bolivia to expedite transactions. Bolivia’s president advocates for de-dollarization and diversification of economic relations. Description Against a backdrop of dollar scarcity, Bolivia is making a groundbreaking pivot in its monetary policy. In a strategic move, the Bolivian Central Bank has started to harness the Chinese yuan for its international settlements. Marcelo Montenegro, Bolivia’s Economy Minister, validated this shift, citing dollar scarcity as a catalyst behind the need for a fresh … Read more Against a backdrop of dollar scarcity, Bolivia is making a groundbreaking pivot in its monetary policy. In a strategic move, the Bolivian Central Bank has started to harness the Chinese yuan for its international settlements. Marcelo Montenegro, Bolivia’s Economy Minister, validated this shift, citing dollar scarcity as a catalyst behind the need for a fresh approach. Chinese Yuan Gaining Ground in Bolivia’s Financial System Shaking up…

    Article 2023年7月29日

  • Indian banks to embrace AI and blockchain revolution

    TL;DR Breakdown Deputy Governor of the Reserve Bank of India (RBI), has recommended banks in India to adopt artificial intelligence (AI) and blockchain technology for sustainable growth and stability. Technological disruptions, evolving customer demands, and cybersecurity threats are some of the emerging challenges in the banking sector, according to Jain. The Deputy Governor’s advice comes at a time when India is exploring digital currencies, with a central bank digital currency launched for testing in November. Mahesh Kumar Jain, the Deputy Governor of the Reserve Bank of India (RBI), has urged the country’s banking sector to embrace the transformative potential of artificial intelligence (AI) and blockchain technologies. This advice, underpinning the vital role of innovation in fostering sustainable growth and stability, came during a recent conference organized by the RBI for the directors of Indian banks. Technological disruptions: Risk and reward Mr. Jain expounded on the crucial nature of robust corporate governance structures and processes, particularly in navigating the increasingly complex landscape of future risks. He pinpointed technological disruptions, evolving customer demands, and burgeoning cybersecurity threats as sources of new and…

    Article 2023年6月4日

  • U.S. Lawmakers push for a new bill to hold bank executives accountable for collapses

    TL;DR Breakdown Democrats from the United States House Financial Services Committee have introduced a series of bills, which they described as the “first wave” of legislation in an effort to address failures at major banks.  The legislation includes various provisions, such as the imposition of fines and a ban on bank executives from future work in the industry if they are found to have negligently contributed to their bank’s failure. The proposed bills also seek to grant regulators the authority to prohibit bank executives from selling stock under certain circumstances. Description In an effort to address failures at major banks, Democrats from the United States House Financial Services Committee have introduced a series of bills, which they described as the “first wave” of legislation. The proposed measures are a response to the collapses of Silicon Valley Bank, Signature Bank, and First Republic Bank in the United … Read more In an effort to address failures at major banks, Democrats from the United States House Financial Services Committee have introduced a series of bills, which they described as the “first wave”…

    Article 2023年6月24日

  • Cardano price analysis: ADA retrace above the $0.3700 level after a bullish movement

    TL;DR Breakdown Cardano price analysis a bullish market sentiment. ADA is trading at $0.3684 with a gain of 2.10 percent. Resistance and support levels are located at $0.3732 and$0.3573 respectively. The latest Cardano price analysis shows a bullish signal for the digital asset as it retraces above the $0.3700 level. The bullish trend is driven by increasing market sentiment and higher volumes over the past few days. The buying pressure pushed the price of ADA to a high of $0.3732, which makes it an attractive target for bulls. On the flip side, ADA is trading well above the major support level at $0.3573. If this level holds, it could bring a median range of $0.3570-$0.3730 for Cardano in the near future. The key resistance level at $0.3700 is also a good milestone for the bulls to break. Stability above this level could provide further upside potential for ADA. The trading volume has been significantly high today, which could indicate that the digital asset is more likely to retrace above the $0.3700 level. If the buying pressure continues, Cardano may even…

    Article 2023年5月24日
TOP