TON Ecosystem Surges in 2024 With 42 Million Wallets and $379M DeDust TVL

The TON (The Open Network) ecosystem has emerged as a dynamic and rapidly expanding blockchain platform in 2024, driven by its seamless integration with Telegram and the proliferation of diverse applications such as DeFi, GameFi, and community-driven projects. The network, which supports over 6 million daily transactions, is now the 11th largest chain by total value locked (TVL), according to DefiLlama, and has seen over 42 million wallets created, with 90% of these wallets launched in the first half of the year [1]. TON has attracted significant attention from developers and users alike, especially with initiatives like the TON Open League, which has distributed $1.4 million in grants to 110 projects [1].

Among the key DeFi projects on TON, DeDust stands out as the largest decentralized exchange (DEX) on the network, with a TVL of $379 million as of the time of reporting. It offers users liquidity provision, yield farming opportunities, and cross-chain bridging capabilities. DeDust’s native token, SCALE, supports a 26% annual percentage rate (APR) in its staking program, funded by transaction fees and token buybacks [1]. Another prominent DEX, STON.fi, has a TVL of over $305 million and provides near-zero-cost decentralized swaps through its native integration with TON wallets. It also offers liquidity farming and staking for its native token, STON, with up to 83% APR for certain assets [1].

Tonstakers, the leading liquid staking platform on TON, enables users to stake TON and receive a liquid derivative (tsTON) while earning staking rewards. With over $260 million in TVL and 71,000 stakers, Tonstakers offers a 3% APR for staked assets and allows users to unstake at any time without lock-up periods [1].

The TON ecosystem has also seen a surge in GameFi, particularly tap-to-earn games that combine play-to-earn mechanics with social media integration. Notcoin and Hamster Kombat are two of the most notable examples. Notcoin, launched in November 2023, gained over 5 million users within a month and reached a market cap of $2.8 billion. It rewards users through daily tasks and social engagement and has since launched the "Explore" feature to incentivize contributions to the broader TON ecosystem [1]. Hamster Kombat, a similar game, has attracted 239 million users in just 81 days and features in-game NFTs and a planned token generation event (TGE) in July 2024. Bybit Exchange has already announced support for its token [1].

Community-driven projects, particularly meme coin initiatives, have also flourished on TON. Resistance Dog (REDO) and Resistance Girl (REGI) are standout examples, both paying homage to the digital resistance ideals aligned with Telegram and TON co-founder Pavel Durov. These projects leverage strong community engagement and social media influencers to drive awareness and participation. TON FISH, another notable meme coin, has expanded into NFTs and a mini tap-to-earn game called TON Pet, further broadening its ecosystem [1].

With growing support from the TON Foundation and the TON Open League, which has a $1.15 million prize pool for Season 5, the TON ecosystem is rapidly evolving. The network’s focus on accessibility, low transaction fees, and Telegram integration has contributed to its explosive growth. As the TON ecosystem continues to mature, it is attracting both crypto-native and mainstream users, positioning itself as one of the most promising blockchain platforms of 2024.

[1] Source: [1]title1.............................(https://www.coingecko.com/learn/top-ton-ecosystem-projects-crypto)