TONCoin Launches $250 Million Ecosystem Fund for The Open Network

Called TONcoin Fund, the initiative will become the very first ecosystem fund that’s entirely dedicated to supporting founders who build on The Open Network.

• The raise saw participation from leading industry moguls like Huobi Incubator, Kucoin Ventures, the MEXC Pioneer Fund, TON Miners, 3Commas Capita, and Kilo Fund.
• The TON Foundation will be providing grants to the ecosystem fund and to selected projects.
• The funds will reportedly be deployed as projects are accepted and further incubated.
• Benjamin Rameau, Managing Partner at TONcoin Fund, said:

The Open Network offers tremendous opportunities to achieve mass adoption of blockchain technology. TON may become the first blockchain network accessible to millions of users thanks to the Telegram integration efforts by the community via in-app bots as well as native interface proposals. TONcoin Fund is very excited to support the first decentralized exchanges stable coins, NFT projects, and other dApps building on TON.

• According to the press release shared with CryptoPotato, the TON Foundation also has a roadmap for the ecosystem to grow, and it will seek to provide support in a decentralized manner.