Mexc Ventures Ton

Zug, Switzerland, October 4th, 2023, Chainwire

MEXC Ventures, a subsidiary of Binance’s global cryptocurrency exchange MEXC, has made a significant investment in The Open Network (TON), marking the largest layer-1 investment the company has ever made. This investment is accompanied by a strategic partnership with The Open Network (TON) Foundation, as both companies share a vision of promoting global accessibility to Web3 by reducing barriers to entry.

Empowering the Growth of TON’s Ecosystem

MEXC Ventures’ investment in TON represents a major step in its efforts to support the growth of TON’s ecosystem. The investment will primarily focus on TON-based projects, such as Megaton Finance, TONPlay, Fanzee, and Sonet. MEXC Ventures also plans to continue funding TON-based mini apps and projects. In addition to financial support, MEXC’s exchange will provide marketing services and promotion for the TON-based projects listed on their platform. To further reinforce their commitment to The Open Network, MEXC exchange will introduce 0% trading fees for Toncoin and plans to offer a TON collateral lending service in the near future.

TON Foundation: Connecting the World to Web3

As a bridge between the Telegram app’s 800 million monthly active users and Web3, TON Foundation plays a crucial role in transforming TON into an accessible platform for true asset ownership. The foundation aims to create a Web3 ecosystem within Telegram, making it a massive traffic entry point for easy access to crypto assets. With the support of MEXC Ventures, TON Foundation seeks to develop new tools and services that seamlessly integrate crypto into users’ social media experience.

According to Justin Hyun, Director of Growth at TON Foundation, “By working with MEXC, we will bring global access to the decentralized Web3 ecosystem in Telegram. Our Foundation is committed to promoting a user-centric experience for The Open Network community. MEXC’s support significantly strengthens our potential to build new tools and services for developers and applications that make crypto feel indistinguishable from social media for users.”

Toncoin: The Catalyst for TON’s Ecosystem

Toncoin, the native cryptocurrency of TON, powers the execution of smart contracts, decentralized applications (dApps), and governance within the TON blockchain. A portion of Toncoin has been allocated to the TON Foundation to encourage and support ecosystem development. The TON ecosystem already boasts a wide range of applications, including wallets, DeFi protocols, decentralized exchanges (DEXs), games, NFTs, cross-chain bridges, and social platforms. This well-established infrastructure positions TON for further growth and innovation.

Steve Yun, President of TON Foundation, highlighted the significance of MEXC’s investment in TON blockchain, stating, “This investment underlines MEXC’s strong conviction in building a Web3 super-app ecosystem on Telegram. We are confident that the TON ecosystem and MEXC will grow together as we build for the next market cycle of bull runs.”

About MEXC

MEXC is a leading centralized cryptocurrency exchange renowned for its high-performance matching technology and outstanding customer service. With the lowest trading fees in the market and a seamless trading experience, MEXC has garnered a user base of over 10 million users across 170 countries worldwide. MEXC’s commitment to “Users First” has earned them a stellar reputation in the industry. To learn more and sign up, visit the MEXC Official Website.

About MEXC Ventures

MEXC Ventures is a comprehensive fund under the MEXC Group, dedicated to empowering innovations in the cryptocurrency field through strategic investments, M&A, FOF, and project incubation. With over $100 million AUM and 300+ portfolio investments, MEXC Ventures embraces the philosophy of “discovering opportunities and growing together,” sharing resources and providing solid support for projects worldwide. To find out more, visit the MEXC Ventures website.

About TON Foundation

The Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland in 2023. Fully funded by the community, the TON Foundation acts in the community’s interests and supports initiatives aligned with The Open Network’s mission. Learn more at https://ton.foundation.

About The Open Network (TON)

The Open Network (TON) aims to bring crypto to the masses by creating a Web3 ecosystem within Telegram Messenger. This groundbreaking initiative empowers billions of people to own their digital identities, data, and assets. Discover more at https://ton.org.

With MEXC Ventures’ historic investment in The Open Network, the future of Web3 accessibility looks promising. This strategic partnership sets the stage for innovative developments and a seamless integration of crypto assets into our daily lives.