In Q2 2023, The Open Community (TON) noticed a 2.88 million complete accounts and 173 million transactions, making it the 14th largest cryptocurrency by market capitalization. TON’s expertise, ecosystem, and economic system improved considerably, similar to the earlier quarter.
TON’s 2023.06 replace introduces burn performance, incinering 50% of community charges, doubtlessly reducing Toncoin provide. Moreover, a “Black Gap” mechanism completely eliminates all Toncoin despatched, doubtlessly forming future deflationary measures.
So as to improve person involvement, a brand new sensible contract referred to as “The Locker” has been created. It permits customers to lock up their Toncoin for a very long time in change for rewards. Moreover, the community now permits customers to ship encrypted messages utilizing TON wallets, guaranteeing safe communication even within the absence of standard messaging servers.
As a result of Liquidity Mining Rewards Marketing campaign, the community’s Complete Worth Locked (TVL) surged by 2200%, and greater than $20 million has handed by way of the token bridge that was arrange within the earlier quarter. Staking and a decentralised cryptocurrency change have been added into the well-known TON pockets Tonkeeper, and different exchanges on TON have both been up to date or simply created.
Customers now have the benefit of incomes staking rewards whereas additionally utilizing their belongings in DeFi due to the event of a liquid staking answer. The alteration of TON addresses to forestall asset loss from incorrect transactions and developments in Non-Fungible Tokens (NFT), with well-known artists presenting their work and accumulating royalties in Toncoin, are further enhancements.
TON has up to date its digital machine (TVM) and launched a brand new WebApp API in collaboration with Telegram. The system’s core has been optimized for optimization, safety, and DDoS assault safety. Progress has been made within the growth of the Rainbow cross-chain answer, which operates with out intermediaries and personal keys. 5 TON contests have been carried out, with a prize pool over $200,000, and a large-scale Hack-a-TON program introduced with a prize pool of 150,000 Toncoin. TON plans to introduce new cross-chain options, optimize tokenomics, stimulate development within the DeFi phase, and conduct public stress testing of the blockchain within the subsequent quarter.
Toncoin help has been added to plenty of websites, together with Changelly, Onramp, Mooli, CoinStats, and Chainalysis. Belief Pockets has built-in TON. Necessary partnerships have additionally been began with the cryptocurrency exchanges MEXC and BIT.com.
