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 in the TON ecosystem.

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

This launch comes as the Telegram-backed blockchain network continues to see significant growth as a strong crypto gaming ecosystem drives adoption.

As the total value locked in the TON ecosystem grows, bullish sentiments for the Toncoin (TON) token have spread to projects such as Hamster Kombat and Catizen.

TON Accelerator introduces “Synergy”

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

The initial $2.5 million incubation program, launched in September, provided both funding and hands-on support to five projects to help them transition from concept to product.

The latest group, Synergy, aims to build on this initial offering. Selected projects will receive support from TON Ventures’ $5 million fund, 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 its layer 2 scaling solution Mantle.

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

Currently, TVL in the TON ecosystem has reached over $707 million. Data from DeFiLlama shows that TVL was around $75 million at the beginning of the year and reached $1.13 billion in June.