​TON Innovators - EVAA Protocol

"TON Innovators" is the latest content series on the TON Blog, dedicated to exploring the most innovative projects within the TON Ecosystem and the creative minds behind them. In the premiere feature of this series, the spotlight turns to the EVAA Protocol.

What is EVAA Protocol?

EVAA is the first decentralized lending platform built on TON Blockchain. It empowers users to lend and borrow digital assets through smart contracts, eliminating the need for central intermediaries. Its seamless integration with Telegram (Wallet and TWA) provides the messenger’s 800 million monthly active users with easy access to DeFi.

Leveraging smart contracts, the platform ensures that transactions are both secure and transparent. Looking ahead, EVAA is set to expand its offerings to include multi-asset collateral options and to further refine its risk assessment algorithms, enhancing the safety of its lending services.

EVAA Hackathon

EVAA has launched the EVAA Hackathon, focusing on the development of liquidation bots for the EVAA DeFi ecosystem. This hackathon aims to enhance the functionality of the TON DeFi ecosystem by introducing effective liquidation bots, building connections between the fundamental TON DeFi protocols: lending and DEXs.

For developers interested in contributing, check out the EVAA Developer Guide on GitHub.

To learn more about EVAA and their roadmap, delve into this blog post and join their Telegram channel.

Six use cases for the world's fastest blockchain

On October 31, 2023, The Open Network (TON) set a new world record for the fastest and most scalable blockchain, reaching an astounding 104,715 transactions per second.

Verified by CertiK, this remarkable achievement opens doors to numerous possibilities in various sectors, aiming to bridge the gap between Web3 and Web2 and offer real-world solutions.

Solving from simple everyday to very complicated problems of people and business, TON Blockchain has multiple real-world use cases, thanks to its transaction speed and infinite scalability. Some examples include the transformation of Telegram to a global Web3 SuperApp, the gaming industry, payment infrastructure, DeFi and DEXs, supply chain management, and IoT networks.

To dive deeper into TON’s potential, read this blog post.

KuCoin Ventures partners with TON Foundation

KuCoin Ventures, the investment arm of KuCoin Exchange, has announced a strategic partnership with the TON Foundation, underscoring their commitment to the TON Ecosystem.

KuCoin Ventures will provide a grant to enhance the growth of the TON Ecosystem, specifically supporting five TON-based mini-apps focusing on real-world blockchain solutions in payments or GameFi. This funding will give an additional boost to initiatives such as The TON Bootcamp, fostering innovation, research, community-building, and marketing efforts.

Together, KuCoin Ventures and the TON Foundation are shaping the future of Web3, aiming for a more accessible and decentralized digital future for all.

To learn more about this partnership, read this article.

​Port3 Network now supports SBTs on TON

The SoQuest platform, one of Port3 Network's flagship products, now supports the deployment of NFTs and Soul-Bound Tokens (SBTs) within the TON Ecosystem. Being one of the first social quest platforms on TON, Port3 has seamlessly integrated with the Tonkeeper wallet and offers task verification on-chain, enhancing transparency within the TON Ecosystem.

Port3 serves as a bridge between Web2 and Web3, building a protocol to aggregate and standardize off-chain and on-chain data. This creates a universally accessible Social Data Layer, applicable across various dApps. Also, this protocol ensures structured and readily available data, offering invaluable support for decision-making, analytics, and insights to TON projects.

TON users can now join quest campaigns on SoQuest to earn SBTs, NFTs, and more. With an impressive user base of over 1.5 million, SoQuest leverages rewards from partner projects, enabling users to voluntarily share their profiles across Web2 and Web3 platforms.

Port3's mission of accelerating the transition into Web3 perfectly complements TON's vision of empowering 500 million users to own their digital identity, data, and assets by 2028.

Join Port3’s official Telegram channel for the latest updates.

​TON Community Weekly Digest

Here's a roundup of the most exciting news from the past seven days in The Open Network (TON) Ecosystem.

Network Growth:

▪️ The number of registered accounts on TON grew from 3,842,227 to 3,890,436 (+1.2%) between November 27 and December 3, 2023.

Ecosystem News:

▪️ Paribu, Turkey's leading crypto exchange, has listed Toncoin (TON) with the first TON/TRY trading pair. Read more here.

▪️ Anton Trunov, a distinguished blockchain developer, has joined the TON Foundation, unveiling a new roadmap for Tact, TON's smart contract development language. Read more here.

▪️ Animoca Brands became the largest validator on TON Blockchain, enhancing the TON Ecosystem with funding, research, analytics, and support for third-party gaming and GameFi projects. Read more here.

▪️ The "TON Innovators" series introduced EVAA Protocol, the first decentralized lending platform on TON, enabling users to lend and borrow digital assets through smart contracts. EVAA has also launched a Hackathon aiming to enhance the TON DeFi ecosystem. Read more here.

▪️ We explored TON's potential and identified six real-world use cases for the fastest and most scalable blockchain on the planet. Read more here.

▪️ KuCoin Ventures, the investment arm of KuCoin Exchange, has partnered with TON Foundation to provide a grant supporting the growth of the TON Ecosystem, particularly focusing on five TON-based mini-apps in payments or GameFi. Read more here.

▪️ Port3 Network has begun supporting the deployment of NFTs and SBTs within the TON Ecosystem. Read more here.

▪️ STON.fi and Fanton collaborated to organize a partner tournament, offering a prize pool of 1,000 STON. The tournament aims to merge the worlds of DeFi and fantasy football, utilizing STON.fi's technical solution in the Fanton project. Read more here.

Subscribe and be the first to receive updates from the TON Ecosystem.

​Bitget Wallet integrates TON Mainnet

Bitget Wallet, Asia's largest all-in-one Web3 trading wallet, has successfully integrated TON Mainnet into its platform, aiming to enhance liquidity and expand the user base of The Open Network.

With over 12 million users worldwide, Bitget Wallet now allows users to effortlessly add TON with a single click, enabling seamless asset management and on-chain transactions.

Additionally, the platform is gearing up to broaden its services, incorporating support for TON Ecosystem dApps, token trading, and the introduction of candlestick chart features. Innovative TON-based products, such as the Telegram Red Packet feature, are also in the pipeline.

Bitget Wallet is committed to delivering convenient and user-friendly product experiences, paving the way to Web3 for its users. This commitment aligns seamlessly with TON's vision of building a Web3 ecosystem within Telegram, serving as a bridge between Web2 and Web3.

For additional details, refer to the official announcement here.

​The Gateway 2023

The Gateway, TON's first in-person conference in Dubai, was a massive success, with over 500 attendees and a vibrant atmosphere filled with keynote speeches, major ecosystem announcements, insightful discussions, and unique networking opportunities. A heartfelt thank you to the amazing TON Community and all attendees for making the first Gateway so special!

Here are the key highlights:

▪️ Wallet rollout: Coming to every Telegram user by default by the end of Q2 2024.
​​▪️ The Open League: Aiming to activate 5 million users to TON projects in the next twelve months with TON-backed incentives.
▪️ TON Society plans were revealed. The platform will become a reputation profile for all TON users, making the TON Ecosystem more attractive to builders targeting specific user segments.
▪️ In regards to programs, TON Foundation unveiled various ways projects can get support, including liquidity, acceleration, and marketing.
▪️ We got a first look at new projects such as Notcoin and Egg Fight Club, two games designed to help new Web3 users understand tokens and collectibles.
▪️ We were impressed by the amazing art showcased by TON Diamonds.
▪️ We met and enjoyed presentations by Gateway sponsors, including Orbs, Tonscan by Bastion, TonUp, Bybit, MEXC Ventures, and KuCoin.

Relive the excitement by exploring photos and livestreams on the official event website.

For a comprehensive recap of the conference, dive into this blog post.

TON20 Inscription Use-case on TON
Starting on December 5th, The Open Network (TON) experienced an incredible spike in network activity, thanks to the BRC20 Bitcoin Ordinals type of inscription use-case, called TON20, launched by the Tonano team.

Producing over 2 million transactions increased our network usage by 61 times within just half an hour. TON Community is proud to witness a creative use case take-off in TON driven by independent participants in the ecosystem.

Moreover, this sudden growth has revealed many interesting insights for our blockchain. Dynamic sharding technology worked as expected. At its peak, TON split into eleven shardchains, stabilizing at five shardchains to handle the heavy load.

At the same time, this phenomenon also revealed where the community should work to swiftly onboard the exponential increase in network activity expected in the near future. Network validators must ensure that TON is supported by hardware capable of scaling to the performance demanded by high usage.

Network Performance Delays
This peak interest also came with a severe congestion of TON network, where validation was severely delayed even though the network validators are still producing blocks.

Popular wallets like @Wallet and Tonkeeper have paused the service temporarily.

TON core developers are aware of the issues affecting users and are working on TON blockchain. An initial technical report is available here. TON core team will be providing us with a further update within the next 24 hours.

We thank you and the community for your patience and unwavering support as we go through the growing pains together, preparing for the unprecedented growth season expected in the near future.

Call for Network Validators to get in contact
The TON blockchain is experiencing reduced performance now due to a backlog of transactions in the queue to be validated. We’ve received a response from many validators on the network who have already upgraded using the patch provided this morning.

However, there are still some we have been unable to reach. We need to collect the machine specifications from all validators to progress the upgrade as quickly as possible. If you maintain a TON validator node, please get in touch with us urgently so we can resolve the network performance issues.

You can reach the team via this google form. If you know someone who maintains a validator node on TON, please also feel free to forward this message.

Transactions Delay Update

Yesterday marked a pivotal moment for our decentralized community; coming together with unprecedented collaboration. We made the necessary steps back toward the high standard of operations the TON Community expects.

The focus was stopping the transaction queue from growing, which has been achieved and meant:
▪Working with the Tonano team to pause mints and stop transaction growth.
▪Working with Fragment team to pause auctions and protect user’s digital assets.
▪Contacting +70% of all independent validators to begin upgrading using the patch provided. Any remaining validators can get in touch via this form.
▪Removed some of the poor-performing validators, running on rate-limited bandwidth.

Today, our focus is on efficiently processing the backlog in the transaction queue.

To do that we have just released a second validator upgrade here, and with faster routes of communication to +70% of validators, a resolution is near.

Track TON back to full performance in real time
In true TON community fashion, the most necessary components are being built by the community! Tonkeeper has created a dashboard to track the network decongestion in near real-time.

You’ll see two charts on the dashboard, pictured above.

▪Chart 1 shows the cumulative amount of delayed transactions. Until it drops to zero, the network can only process very few new transactions.
▪Chart 2 shows the rate of congestion/decongestion. Values below zero indicate increasing congestion, and values above zero indicate clearance of the transactions.

In the next 10-20 hours, we expect to see an increase in the rate of decongestion as more and faster validators will join the next validation round.

https://tonviewer.com/blackout

TON Network Online: A Heartfelt Thanks to TON Community
As of 7:20 AM UTC today, The Open Network (TON) has effectively resolved the recent network congestion issues, thanks to upgrades implemented by TON validators. This advancement has enabled the network to process transactions swiftly and seamlessly, ensuring the safety and security of all user assets during the slowdown.

There have been some significant lessons learned here, and still remain some challenges to address with introducing slashing for underperforming validators, and continuing to upgrade the validator network with the best hardware and routes of communication. In part the solution is already integrated into our network's architecture, but there will be further upgrades and we are already significantly better positioned to handle similar scenarios in the future.

Throughout this event, a significant milestone for the blockchain was realized - 200 million transactions have successfully been processed.

Our heartfelt gratitude goes out to our community for your patience and support during this time. We extend special thanks to all the validators as well as Tonano, Fragment, @Wallet, Tonkeeper, TON API, dTON, re:doubt, Tonhub and Orbs teams for their exceptional efforts and collaboration, which were instrumental in stabilizing the network, and communicating the status to TON Community.

As we move forward and services resume, we anticipate a smooth transition, although minor delays might occur as teams resume full services. We've set up a direct contact form for those who need personalized assistance. Your trust and cooperation have been invaluable, and we remain dedicated to continually enhancing the TON experience. Thank you for being with us on this journey.

TON Community Weekly Digest

Here's a roundup of the most exciting news from the past seven days in The Open Network (TON) Ecosystem.

Network Growth:

▪️ The number of registered accounts on TON grew from 3,890,436 to 3,947,236 (+1.4%) between December 4 and December 10, 2023.

Ecosystem News:

▪️ Bitget Wallet, Asia's largest all-in-one Web3 trading wallet with over 12 million users, has integrated TON Mainnet, allowing users to easily add TON. Read more here.

▪️ We gathered some of the key highlights from Gateway, TON's first in-person conference, where over 500 attendees joined to witness significant announcements and exciting developments in the TON Ecosystem. Read more here.

▪️ On December 5, 2023, TON experienced a surge in network activity due to the launch of the TON20 inscription use-case by the Tonano team, resulting in over 2 million transactions and showcasing dynamic sharding technology in action. Read more here.

▪️ The TON Blockchain experienced reduced performance due to a transaction backlog. Now, all network services are operating normally thanks to the quick response from TON validators and community projects. Read more here.

Subscribe and be the first to receive updates from the TON Ecosystem.

Network Notification
Due to the exponential growth in network activity, some services on the network infrastructure may experience some disruptions. Centralized exchanges may not be able to process deposits and withdrawals due to these disruptions.

Network Notification
The Open Network upgrades are helping the network deal with increased load. TON has continued to be fully operational. From 11 am to 2 pm UTC, TON processed 2,363,002 million transactions, reaching a peak TPS of 371.

The exponential growth in network activity impacted certain services. However, most have been upgraded in the last hours and are now operating normally. Thank you for your patience as the network and its infrastructure begin to cater to the demands of mass adoption.

Normal services from centralized exchanges should resume shortly.

​The dawn of cNFTs on TON

The Compressed NFT (cNFT) format has recently gained popularity, enabling the creation of extensive collections ranging from hundreds of thousands to a million items — all achievable at a fraction of the minting cost.

The first cNFT use cases on TON took place recently, marking the beginning of a new era. The team behind the @Getgems NFT marketplace:

▪️ Released over 75,000 cNFTs as part of the Egg Fight Club game, where egg-cNFTs serve as gaming assets in the fight for the grand prize. In this initial attempt, the minting price of cNFTs was approximately 40 times cheaper than typical NFT mints.

▪️ Unveiled the first Pearls by Gems drop in collaboration with the creators of Lost Dogs: "Lost Dogs: Consequences" collection, featuring postcards of varying rarity and the backstory of the long-lost world.

Minting 16,191 cNFTs in the Pearls drop cost just 1.5 Toncoin. Typically, a collection of this scale would cost around 800 Toncoin. Thanks to the cNFT standard, the cost has been reduced by more than 533 times.

Join the Pearls Drop channel and pre-authorize your wallet with @pearls_drop_bot for upcoming cNFT drops. To learn more about cNFTs, read this post.

​Ledger hardware wallets now support TON

Ledger, one of the most popular hardware wallets in the world, has integrated support for TON. You can now securely store your Toncoin (TON) and other TON tokens (jettons) on Ledger hardware wallets, ensuring the highest security standards for your digital assets.

To store Toncoin and TON tokens (jettons) on Ledger devices, follow these simple steps:

▪️ Download and install Ledger Live on your computer.
▪️ Update the firmware of your Ledger Nano S / Nano S Plus / Nano X.
▪️ Install the TON Network (TON) app on your Ledger device through Ledger Live.
▪️ Access MyTonWallet and install the browser extension for Chrome or download the desktop client.
▪️ Open the extension, click 'Import from Ledger,' and connect your Ledger device.
▪️ Confirm the connection on your Ledger device and MyTonWallet.
▪️ Choose a TON account from the list and add it to your dashboard.
▪️ Navigate to the dashboard, click 'Receive,' and copy your Ledger TON address for secure transactions.

Please note, while TON NFTs can be stored on Ledger devices, they currently do not display in the wallet interface. This feature is expected to be added in the future.

For a comprehensive guide on how to store and manage your Toncoin and other TON tokens (jettons) using Ledger and MyTonWallet, refer to Ledger’s detailed blog post.

​TONomania Phase 1

OKX, one of the first exchanges to list Toncoin (TON) and one of the world's leading cryptocurrency exchanges, has joined forces with TON to introduce TONomania – a series of engaging events and opportunities.

This campaign will firstly be open to CIS users and unfolds in three phases. Phase 1 kicks off today, December 14, 2023, and runs until December 28, 2023. Get ready to "Learn & Earn" and win a share of the 8,000 Toncoin prize pool. Terms and Conditions apply.

How to participate?
It's simple - complete the quiz in the OKX app to earn up to 5 Toncoin.

The details of the next two phases will be unveiled in the coming weeks. Additionally, mark your calendars for three informative AMA sessions covering the TONomania campaign, TON Ecosystem, and TON Community, scheduled for December 14, 18, and 21, 2023. All three sessions will be hosted on OKX’s official YouTube and Telegram channels.

Don't miss the first one today, December 14, 2023, at 17:00 UTC, featuring Anthony Tsivarev, Director of Ecosystem Development at TON Foundation. Watch here: https://xn--r1a.website/okx_ru?livestream

Learn about the details and embark on your TONomania journey today here.

Please note: The campaign is now open only for CIS users. Follow our updates for other regional campaigns.

​TON Community Weekly Digest

Here's a roundup of the most exciting news from the past seven days in The Open Network (TON) Ecosystem.

Network Growth:

▪️ The number of registered accounts on TON grew from 3,947,236 to 4,043,474 (+2.4%) between December 11 and December 17, 2023.

Ecosystem News:

▪️ Ledger hardware wallets added support for TON, allowing users to securely store Toncoin and other TON tokens (jettons) with the highest security standards. Read more here.

▪️ The introduction of Compressed NFTs (cNFTs) on TON has significantly reduced minting costs, with the @Getgems NFT marketplace releasing over 75,000 cNFTs at a fraction of the usual minting price, marking the beginning of a new era in NFT creation and accessibility. Read more here.

▪️ OKX collaborated with TON to launch the TONomania campaign, starting with Phase 1, where eligible participants can "Learn & Earn" by completing a quiz in the OKX app to win a share of the 8,000 Toncoin prize pool. Read more here.

Subscribe and be the first to receive updates from the TON Ecosystem.

​Foresight X and TonUP launch $200,000 grants program for the TON Ecosystem

In a significant move aiming to enhance the TON Ecosystem, Foresight X, the accelerator arm of the prominent Asian investment firm Foresight Ventures, has partnered with TonUP, a leading launchpad on TON, to initiate a $200,000 grants program.

This collaboration between TonUP and Foresight X aims to fund more than 20 TON-based projects. Having benefited themselves from the TON Foundation grants program, TonUP understands the pivotal role such grants play in supporting startup teams.

The primary focus of this grants program is to nurture startups that are working on developing upper-layer applications within the TON Ecosystem, as well as those integrating use cases for Telegram Mini Apps.

Additionally, TonUP has announced the upcoming Initial DEX Offering (IDO) of their $UP native token, scheduled for December 20, 2023, and exclusively available on TonUP.io. This development marks another milestone in their ongoing efforts to contribute to the TON Ecosystem's growth and diversification.

Learn more about TonUP's IDO here.

Dive into the future of Web3 and GameFi on Telegram with today’s CoinMarketCap Live

Join today's CoinMarketCap Live to discover how TON and Telegram are putting crypto in every pocket and transforming the Web3 landscape.

Don't miss insights from John Hyman (Chief Investment Officer at Telegram), Steve Yun (President at TON Foundation), Yat Siu (Co-Founder of Animoca Brands), and Ryan Dennis (Director of Brand and Communications at TON Foundation).

Date: December 20, 2023
Time: 1 PM UTC

Click here to join the session.

CoinMarketCap Live just started! Tune in: https://bit.ly/CMCLive_Ton