MEXC Ventures Announces Significant Investment in The Open Network
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, has made its largest layer-1 investment to date by investing in The Open Network (TON). This investment is part of a strategic partnership between MEXC Ventures and the TON Foundation. Both companies share a vision of promoting global Web3 accessibility by reducing barriers to entry.
Supporting TON-Based Projects
MEXC Ventures’ investment will support various TON-based projects, including Megaton Finance, TONPlay, Fanzee, and Sonet. In addition to funding these projects, MEXC’s exchange will provide marketing services and promotion for TON-based projects listed on its platform. The exchange also plans to introduce 0% trading fees for Toncoin and offer a TON collateral lending service in the future.
The Role of the TON Foundation
The TON Foundation acts as a bridge between nearly 800 million monthly active Telegram users and Web3 and true asset ownership. Their goal is to transform the Telegram app into an entry point for easy access to crypto assets. With the support of MEXC Ventures, the foundation aims to create a Web3 ecosystem within the app.
Toncoin and the TON Ecosystem
Toncoin is the native cryptocurrency of TON, used for executing smart contracts, utilizing decentralized applications (dApps), and participating in governance on the TON blockchain. A portion of Toncoin has been allocated to the TON Foundation to support ecosystem development. The TON ecosystem already includes various applications such as wallets, DeFi protocols, decentralized exchanges (DEXs), games, NFTs, cross-chain bridges, and social platforms.
MEXC’s Confidence in TON
MEXC’s investment in TON demonstrates its strong belief in the blockchain’s potential to build a Web3 super-app ecosystem on Telegram. The company is confident that both TON and MEXC will grow together as they prepare for the next market cycle of bull runs.
About MEXC and MEXC Ventures
MEXC is a centralized cryptocurrency exchange known for its high-performance matching technology and low trading fees. With over 10 million users in 170 countries, MEXC prioritizes customer satisfaction and provides seamless trading experiences. MEXC Ventures is a comprehensive fund under MEXC Group dedicated to empowering innovations in the cryptocurrency field through strategic investments and project incubation.
About TON Foundation and The Open Network (TON)
The TON Foundation is a non-profit organization founded in Switzerland with the goal of supporting initiatives aligned with The Open Network’s mission. TON aims to bring crypto to billions of people by building a Web3 ecosystem within Telegram Messenger, allowing individuals to own their digital identity, data, and assets.
Contact
TON Foundation
Hot Take: MEXC Ventures Invests Significantly in The Open Network for Web3 Accessibility
MEXC Ventures has made a substantial investment in The Open Network (TON), marking its largest investment in a layer-one blockchain. This strategic partnership aims to promote global Web3 accessibility by reducing barriers to entry. As part of the investment, MEXC Ventures will support various TON-based projects and provide marketing services for them. They also plan to introduce 0% trading fees for Toncoin and offer a TON collateral lending service in the future. The TON Foundation, with MEXC Ventures’ support, aims to transform the Telegram app into a gateway for easy access to crypto assets. This investment reflects MEXC’s confidence in TON’s potential to build a Web3 ecosystem.
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