The Open Network’s innovation knows no bounds, once again it has proven. TON Blockchain, blockchain-based decentralized computer network technology created by Telegram, has just launched a formidable $25 million fund! It is exclusively dedicated to advancing projects within its thriving ecosystem. Anchored by the TON Accelerator Program, this visionary initiative seeks to make investments ranging from $50,000 to $250,000 per project. But it doesn’t stop there –they bolster promising ventures not only with financial backing but also with invaluable mentorship facilitated by esteemed partners.
Let’s take a look at the thrilling details.
WHAT IS THE TON ACCELERATOR PROGRAM?
The TON Accelerator Program is a mentor-based program raised by TONcoin.Fund– an “investment fund dedicated to supporting founders as they build and scale their projects on The Open Network.”
The idea behind the TON Accelerator Program is simple: to foster the continued evolution of the ecosystem. The funded projects must demonstrate the potential to make a substantial impact on the expanding landscape. Each project will receive between $50,000 and $250,000.
The initial recipients of the funding will be selected from the participants of Hack-a-TONx DoraHacks. It is about a renowned organization that serves as a vital link between hackers, enterprise challenges, and entrepreneurial ideas.
WHO CAN PARTICIPATE IN THE TON ACCELERATOR PROGRAM?
With a particular focus on incubating decentralized finance (DeFi) projects, the funding is directed toward ventures that fulfill two key requirements.
Firstly, they must be built on the TON platform, ensuring alignment with its innovative ecosystem.
Secondly, these projects should have a minimum viable product (MVP) already in place, while seeking additional support in areas such as marketing, business development, and technology.
This strategic approach ensures that the selected projects have the necessary foundations and growth potential, setting them on the path to success within the realm of TON.
Speaking of that, every investment made will come hand in hand with valuable partnerships and mentorship provided by esteemed accelerator partners, which include Gotbit, Web3Port, Tonstarter, TEB, and CypherCapital.
DWF LABS JOINS THE TON ACCELERATOR PROGRAM
One of the leading entities in the cryptocurrency industry also recognized the importance of this project. Ranked among the top 5 in terms of trading volume, DWF Labs brings invaluable support to this accelerator program. Their expertise and resources will play a vital role in driving the success and growth of the program, benefiting participants and further strengthening our ecosystem.
“The support from DWF Labs will include investment tickets and other ecosystem services. The collaboration between TON and DWF Labs is expected to bolster the DeFi infrastructure on TON, as DWF Labs has demonstrated prior support for projects within the TON network through past investments.” as DWF Labs announced on their official site.
Finally, let us share the words of the Head of Incubation and Growth at TON Foundation, said for the TON: “This is the beginning of many different incubators which will be supported in the future. Funding forms part of our local hubs rollout strategy and our ecosystem will work to attract new developers as well as successful repeat founders, based across a variety of key global locations.”
Keep an eye out, as the TON Foundation is set to unveil a multitude of exciting new initiatives!
IF YOU ARE INTERESTED IN PARTICIPATING IN FUNDING ROUNDS, FILL OUT THE FOLLOWING FORM
HERE.