Gate.io announced a strategic investment of $10 million in The Open Network (TON) blockchain. The investment aims to deepen cooperation with the TON Foundation and accelerate the development of projects based on Telegram.
With this investment, Gate.io plans to further participate in the governance of the TON blockchain and contribute to its continued development. The company will also focus on launching new products, such as the official CeFi-powered Telegram applet and the Gate Wallet within Telegram, to further support and expand the TON ecosystem.
In addition, Gate Group is actively participating in the Hackers League hackathon organized by TON Society, which is one of the largest hackathons this year. With a total prize pool of up to $2 million and multiple bounty tasks from leading TON projects, the event will bring participants an unprecedented experience. Offline training camps will be held in 19 cities around the world to encourage global developer participation and innovation.
The TON project has demonstrated a strong demonstration of mass adoption through the Telegram ecosystem. As Telegram services continue to expand, more and more Web3 startups are joining in. Dr. Han Lin, founder and CEO of Gate.io , said: The TON ecosystem has a large Telegram user base and high-speed, low-cost blockchain technology, showing great development potential. This provides an ideal platform for Web3 applications and developers, and is expected to achieve rapid user growth and strong network effects in the future.
Although Telegram and TON are independently operated entities, the two work closely together as messaging platforms and blockchain protocols to create a unified environment for innovation.
