uCoin Ventures, the venture arm of crypto exchange KuCoin, has pledged $20,000 in grant funding to support the growth of the TON blockchain ecosystem. This initial funding is part of a broader partnership between KuCoin and TON Foundation to further TON development efforts.
TON (The Open Network) is an open-source blockchain platform created by the Telegram messaging app founders. It aims to be fast, secure and allow decentralized applications (dApps) to be built on top of its network. TON launched its mainnet in late 2020 and has been working to attract developers and grow its ecosystem since.
Vital Seed Funding
KuCoin's $20,000 grant will specifically support five payment or gamefi projects built on TON. It will also help fund research & development, community building initiatives, marketing activities and incubation programs like TON Bootcamp.
Ian Wittkopp, head of TON Foundation's accelerator program, said "This partnership with KuCoin Ventures will help accelerate the momentum of mini-app development on TON. Their support aligns with our vision of a more accessible decentralized future."
Alicia Kao, managing director at KuCoin Ventures, said they believe in TON's potential to be a leading blockchain in the industry. The strategic partnership aims to promote further crypto and blockchain adoption.
Justin Chou, KuCoin Ventures lead, added "We want to facilitate the transition of cryptocurrency from a niche to mass adoption. Partnering with projects like TON is key to achieving this."
What's next in the partnership
This $20,000 grant is just the beginning according to KuCoin. They plan deeper cooperation with TON Foundation around communication, collaborations and preparations.
KuCoin Ventures' goal is to support the expansion of the TON blockchain through incubating projects, providing funding and helping the ecosystem grow. They aim to replicate this success with other blockchain collaborations in the future.
This partnership marks an exciting step forward for the TON project. With KuCoin Ventures' backing, TON will be better positioned to attract further development, build its community and work towards mainstream blockchain adoption. It also shows exchanges and projects working closer together can advance the entire industry. Both teams are looking forward to strengthening their cooperation moving forward.