Original author: SanTi Li, Feng Yu, Naxida,
introduction
As the new starting point of Web3 in 2024, many ecosystems have also ushered in their own explosive period. As one of the worlds largest instant messaging platforms, Telegrams value and potential at the Web3 level have also attracted relatively widespread attention. This article aims to provide an in-depth analysis of the long-term value and potential contribution to the Web3 world of TON (Telegram Open Network) and LIME (iMe Messenger), projects that have attracted much attention overseas recently in the Telegram ecosystem.
1. Basic introduction
TON (Telegram/ The Open Network): Strengthen Telegram’s underlying public chain
As the basic underlying public chain of Telegram (TG), TON relies on Telegram’s 1.5 billion users and about 800 million monthly active users. Although the user data may include duplicate users and robots, the scale is still huge. TON once set a record for the largest ICO in history. Despite experiencing refunds, TONs recent relaunch and operational recovery have shown its strong resilience and development potential, and it has regained operations and momentum. By attracting more projects to develop on the chain, TON increases the diversity and potential of web3 project applications for Telegram.
LIME（iMe Messenger）: Multi-chain feature-rich enhanced version of Telegram
Telegrams Web3 upgrade: As a multi-chain and functionally enhanced version built on Telegram, it provides important technical support and functional expansion on its way to becoming a leader in the field of Web3 communications. iMe has 1,000 W users and has achieved about 500% user compound interest growth in the past three years. It allows Telegram’s 1.5 billion users to seamlessly switch to the iMe version, use the same account while keeping all historical records unchanged, and be able to switch between Chat records are automatically synchronized between versions, providing users with great convenience.
Comprehensive multi-chain integration and rich functions: The iMe version of Telegram not only fully inherits all public chain functions of TON, but also supports users to directly send BTC, ETH, BNB, Polygon, TON, etc. among Telegram friends by integrating multi-chain wallets. Multi-chain assets including Fantom and Mantle. (Integrating: AVAX, Sol) and other multi-chain assets.
In addition, Lime has introduced customized AI functions, GameFi, payment solutions (Binance Pay, etc.), DeFi services, DEX integration and SocialFi potential (eg Twitter integration, transferring tokens to friends through Twitter ID), as well as cross-chain Bridge and other innovative features. These enhancements not only improve the user experience, but also enable Telegram to translate conversations in multiple languages and convert voice messages into text within 1 minute, significantly improving its market competitiveness and bringing value and win-win growth to Telegrams ecosystem. product diversification.
As a bridge to the Web3 world: iMe version essentially serves as a functional integration and expansion developer, closely integrating the innovation of the Web3 world with the Telegram ecosystem. It not only optimizes and expands Telegrams original functions, but also introduces diverse new functions, providing a convenient channel for Telegram to join more heterogeneous chains. Through these innovations, iMe has significantly improved Telegram’s user experience and application breadth. At the same time, TON, as the underlying L1 chain, provides a solid ecological foundation to support the development and growth of diverse projects.
2. Strength and innovation
● Technical team background
Both the TON and iMe project teams include top technical talents from Russia and Ukraine. Russian development technology enjoys a global reputation, providing strong technical support and product stability for these projects. The Ime level is also one of the few projects developed based on TG that is silky smooth.
TON is a decentralized and open internet platform created by the community driven using technology designed by Telegram. It has its own native cryptocurrency Toncoin, which is used for network operations, transactions, games or NFT transactions, etc. The TON network provides a variety of applications and services, aiming to provide a decentralized, safe and reliable Internet as well as various services.
iMe’s innovation and user experience
iMe has introduced a number of Web3 and encryption technology innovations based on Telegram, significantly improving the user experience. It not only optimizes communication functions, but also introduces multi-chain wallets, AI functions, GameFi, etc., enhancing Telegram’s appeal as a multi-functional platform. In particular, its Cryptobox and cross-chain bridge functions provide Telegram users with a new way of rapid interaction and asset conversion, promoting the application and popularity of Telegram in the Web3 field.
● User experience
Improvements in interface and interaction design: iMe has greatly improved the users interactive experience by adding new key areas and functions to the Telegram interface, making the operation intuitive and easy to use. This design idea helps reduce users learning barriers to new technologies and promotes a smooth transition for Telegram users to the Web3 field. Compared with the dialog wallet of the original version of TON, the iMe version of Wallet adds a new button area in the telegram, and the function adopts a familiar interface more similar to non-custodial wallets (such as Im token, TP), making it hassle-free. Seam integration into Telegram.
Integration and optimization of functions: iMe integrates multi-chain wallets, AI technology and GameFi into Telegram. This not only optimizes the original communication functions, but also provides users with more interaction and entertainment options, enhancing Telegram as a multi-functional platform. The appeal of functional platforms.
iMe’s latest Cryptobox and cross-chain bridge functions, on the one hand, provide an innovative and fast interaction method for Telegram users to send and receive multi-chain token gifts such as BNB, ETH, BTC, TON, etc. within the group, further promoting Telegram’s application in the Web3 field and popularization, enhancing community participation and activity. In addition, the cross-chain bridge function also makes it more convenient for users to convert assets between different heterogeneous chains.
3. Brief analysis of token economy and valuation
The success of iMe has expanded Telegrams usage scenarios, combining traditional instant messaging services with the latest encryption technology and Web3 applications. This integration not only enhances the value of the Telegram platform, but also provides its users with more diverse services and experiences.
Application scenarios of LIME:
● Staking
● Gas fees for transactions and operations
● Purchase Telegram upgrades and special version services
● AI function selection
● Cryptobox application (similar to group red envelopes and airdrops)
● DAO voting
● Advertising and gaming services
February valuation FDV: $8M, current valuation: FDV: $90M ($0.09B), long-term valuation: FDV: $3-5B
LIMEs valuation has seen a relative increase in the past period, perhaps because it was too severely undervalued before, and also because the popularity of the TG ecosystem has begun to gradually increase recently. The rise in LIME’s valuation reflects its growing importance and expanding scope of applications within the Telegram ecosystem. Compared with the valuations of many unreleased private equity projects, if a new project has more than 1,000 users, it also belongs to AI, SocailFi, GameFi, TG, and comprehensive cross-chain tracks. Then the valuation of this project may exceed the valuation of more than 500 million during the private placement stage (this is only a rough personal estimate and analysis, not investment advice or deterministic analysis)
Deflation Model and Token Burning
Starting from 2024-03-20, LIME will begin to adopt a burn-based deflation model. The LIME tokens obtained by the project through fees and services provided will be frozen and destroyed regularly. Including: staking fees, CryptoBox fees, bridging fees, iMe premium subscriptions, channel subscriptions, advertising, game subscriptions and many other areas.
This measure is intended to reduce the supply of LIME in circulation, enhancing its scarcity and value. The first destruction process is planned for June 1, 2024. to increase demand and improve transparency
TON consumption scenarios:
● Ecological participation
● Gas fee
● Vote
● Pledge
● Donation and purchasing services
February valuation FDV: $10 B, current valuation: FDV $21.2B, long-term valuation: $60-90 B
The Token value of TON is closely related to the official Telegram itself. Even though the official said it has become a community version, there is still more direct support at the actual level, including payment of advertising fees. The rough Pre-IPO valuation of Telegram itself is around US$30 billion. If it is successfully IPOed and listed in the future, the valuation may exceed US$50B-80B.
If the analysis of TON itself is based on the analysis of TG users and the public chain ecology, there is still room for a certain increase in market value. However, if TG is listed in the future, the value of TON itself will be diluted to a certain extent. Because the valuation of Token is often tied to the ecosystem itself, but the current market valuation may still be a certain distance from its high point, so before Telegram’s official IPO is successful and listed, the value of TON itself will continue to be in line with the market. The form maintains a certain relationship. The long-term value may still have room to fluctuate several times.
4. Win-win relationship and market positioning
Synergetic growth of TON and Telegram
TON provides Telegram with an underlying public chain based on itself, laying a solid foundation for the overall ecosystem of the platform. Although the TON chain, like many heterogeneous L1 chains, faces the challenge of updating supporting facilities, it has great potential. If the user experience is good, it also has the opportunity to create a unique L1 ecology and market popularity.
iMe’s Extended Impact
The addition of iMe Messenger (LIME) actively expands Telegrams usage scenarios in Web3 fields such as communities, multi-chain applications, AI, cross-chain and DEX, and significantly optimizes the user experience and adds additional functions. This not only enhances the overall value of Telegram, but also brings more diverse services and experiences to users. iMe, as a version optimization and function aggregator, facilitates Telegram users to directly and quickly access the Web3 world.
Market positioning and user growth
iMe occupies a special position in the Web3 and instant messaging market with its unique services and features. Closely combined with the huge user base and growth potential brought by Telegram, iMes users have grown from 2 million to 10 million in the past three years, a growth rate of 500%. iMes user base is expected to continue to grow as blockchain technology and cryptocurrencies gain popularity.
The TON chain has also witnessed a gradual increase in the number of users since 2024. As the underlying public chain developed based on Telegram, all Telegram users can seamlessly use the functions of the TON ecosystem. Whether you use the original Telegram or the enhanced version of iMe Telegram, it will not affect the use of TON functions. The convenience of wallets in iMe may reduce the need for TONs native wallet, but as an integrated entity rather than a competing entity, iMes use will not reduce the number of TON chain holders.
Through this complementary and win-win relationship, iMe and TON jointly promote the development of the Telegram ecosystem, which not only enhances the user experience, but also brings broader market positioning and user growth potential to the Telegram platform.
5. Partial function display:
1) One-click conversation translation:
2) Function embedding-group gifts, AI Bots, Binance Pay, Crypto Multiwallet, Staking, etc.
6. Challenges and Countermeasures
Although both parties have shown strong growth potential, and Telegram has a huge user base and huge potential, it still faces the challenges of technical security, user privacy protection, and compatibility with traditional financial systems that all projects face. With the SEC’s policy unclear, TON’s final direction is still unclear, but its potential is already apparent. Whether Russias policy on blockchain is favorable or not will also affect the trend of the project to a certain extent. Obviously, as the worlds super social platform besides WeChat, TG has also become a place where various types of Web3 and others can use their imagination. Both companies also need to continuously optimize their technology platforms and strengthen security measures to ensure the long-term compliance and stability of their services.
7. Summary and value analysis
in februaryPotential Analysis: 5-100x Web3 Blockchain and Stock Target Exploration in 2024-2026In the article analysis, we also briefly mentioned IME and TON. The valuations of both parties have increased to a certain extent in the past month.
After a comprehensive analysis of the long-term value of TON and LIME iMe Messenger in the Telegram ecosystem, we can see that these two projects not only bring innovation and value-added to the Telegram platform, but also play a role in promoting the popularization and application of Web3 technology. important role. In 2024, with the rise of Web3, TON, as an underlying public chain, will use its strong community and Telegrams huge user base to demonstrate the broad application potential of blockchain technology in the field of instant messaging. LIME iMe Messenger, as an enhanced version built on Telegram, not only optimizes the user experience by introducing multi-chain support, AI functions, built-in DEX, Binance Pay and other advanced features, but also promotes Telegram’s functional flexibility in the Web3 era. Expand Transformation.
Through these two projects, the Telegram ecosystem is becoming a bridge connecting the traditional Internet and emerging blockchain technology, providing users with a safe, convenient, and rich digital communication platform. At the same time, the development of TON and LIME iMe Messenger also shows that with the continuous advancement of technology and the increasingly mature ecosystem, Telegram is expected to play a more important role in the wave of Web3.
In short, the cases of TON and LIME iMe Messenger not only demonstrate the strong potential of the Telegram ecosystem, but also provide us with a valuable perspective on the future development trends of the Web3 world. For all individuals and institutions concerned about the future of digital communications, blockchain technology and Web3, this is undoubtedly an area worthy of attention and in-depth research.
Finally, the long-term value of TON benefits from its ecological development and frequency of use. Similar to other L1 approaches, the prosperity of ecological projects needs to drive the demand and consumption of TON itself to further increase.
The long-term value of Ime is due to its innovation, integration, integration, optimization and continuous improvement of services. It empowers TG gameplay and at the same time increases the demand for LIME itself. The deflation policy and the Token lock-up and destruction policy of service income will also be certain. To a certain extent, the demand for project tokens will gradually increase.
Quickly summarize in one sentence: TON, as L1, continues to expand the Telegram bottom chain ecology, and Lime brings more external chains and Web3 gameplay directly into the Telegram software.
PS: This article is only for study and discussion, not specific investment advice. Readers are also asked to DYOR to make the judgment that best suits their own style.
