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

TON Accelerator, an incubation project for The Open Network blockchain, has launched a new program aimed at accelerating innovation and adoption within the TON eco.

On Nov. 4, the TON Accelerator team announced the launch of a $5 million program that will see selected projects benefit from strategic support as they build on TON blockchain. Backing the initiative are TON Ventures and Mantle EcoFund.

This launch comes as the Telegram-supported blockchain network continues to see significant growth, with a robust crypto gaming eco driving adoption.

As the total value locked within TON’s eco grows, bullish outlooks for the Toncoin (TON) token have also extended to projects such as Hamster Kombat and Catizen.

TON Accelerator unveils “Synergy”

As more projects target Telegram’s 950 million user base with decentralized applications on TON, the TON Accelerator has launched ‘Cohort 2.0: Synergy’ to drive further growth.

In the initial incubation program, a $2.5 million cohort launched in September, five projects received both funding and hands-on support, with the aim of helping them transition from concept to product.

Synergy, the latest cohort, seeks to build on this initial offering. Selected projects will receive support from a $5 million fund by TON Ventures, along with access to mentorship and guidance. Through these initiatives, TON Accelerator aims to foster cross-chain innovation and product development across both TON and the layer-2 scaling solution Mantle.

This program will not only connect the TON eco with Telegram’s nearly 1 billion users but also help unlock a potential $90 billion in cross-chain liquidity. Key areas of focus include decentralized finance, cross-chain gaming, and staking.

Currently, the TVL in TON’s eco has increased to over $707 million. Data from DeFiLlama shows that the TVL stood at around $75 million at the start of the year and reached $1.13 billion in June.