TON Accelerator unveils $5m program to drive cross-chain product growth

The TON Accelerator, an incubator for The Open Network (TON) blockchain, has launched a new initiative designed to foster innovation and drive adoption within the TON ecosystem. On November 4, the accelerator revealed a $5 million program to support selected projects building on the TON blockchain. The initiative is backed by TON Ventures and Mantle EcoFund.

This launch coincides with the ongoing growth of the Telegram-supported TON network, which has been seeing a surge in its crypto gaming ecosystem, driving broader adoption. As the total value locked (TVL) in TON’s ecosystem continues to rise, the bullish sentiment surrounding the Toncoin (TON) token has extended to various projects, including Hamster Kombat and Catizen.

TON Accelerator Unveils “Synergy”

In an effort to accelerate ecosystem development, the TON Accelerator has introduced “Cohort 2.0: Synergy.” This follows the success of the initial $2.5 million cohort launched in September, which supported five projects through funding and hands-on guidance to help them evolve from concepts to fully developed products.

Synergy builds on that foundation by providing selected projects with access to a $5 million fund from TON Ventures, along with mentorship and strategic support. The program focuses on fostering cross-chain innovation and development across both TON and the layer-2 scaling solution, Mantle.

One of the key benefits of this program is its potential to connect the TON ecosystem to Telegram’s massive user base, which currently exceeds 950 million people. This connection could unlock up to $90 billion in cross-chain liquidity, opening new doors for decentralized finance (DeFi), cross-chain gaming, and staking projects within the TON network.

TON Ecosystem Growth

As of now, the TVL in the TON ecosystem has surged to over $707 million, reflecting a significant increase from just $75 million at the beginning of the year. TON’s ecosystem reached a peak of $1.13 billion in June, highlighting the strong growth trajectory and growing adoption of its decentralized applications (dApps).

With the launch of Synergy and continued efforts to support key projects, the TON ecosystem is well-positioned to continue expanding. As more projects tap into Telegram’s vast user base and explore opportunities for cross-chain liquidity, TON is poised to maintain its upward momentum in the rapidly evolving blockchain space.