The Open Network Foundation and Mantle Network Announce Strategic Alliance
The Open Network Foundation (TON Foundation) has formed a strategic alliance with Mantle Network, a leading provider of Ethereum Virtual Machine (EVM) Layer 2 solutions. This partnership aims to enhance the interoperability of EVM-compatible Layer 2 blockchain capabilities on TON. As part of this agreement, a wrapped version of Mantle Network’s token, $MNT, called $jMNT, is now available for trading and liquidity provisions on STON.fi, a cross-chain decentralized exchange (DEX). The introduction of $jMNT will facilitate seamless interactions and integrations between Mantle and TON, enabling fluid trading capabilities across networks.
Enhancing Education and Community Interactions
In addition to token integration, both organizations will leverage the @community_bot, a Telegram-native toolset for communities, to serve as an educational and information distribution platform. This initiative aims to connect users in Mantle’s Telegram channels and project channels with TON’s thriving community on Telegram. By fostering mutual information exchange and enhancing community interactions, this collaboration aims to build a Web3 ecosystem within Telegram for its 800+ million monthly active users.
Quotes from TON Foundation and Mantle Network
Justin Hyun, Director of Growth at TON Foundation, expressed excitement about bridging the gap between the communities and establishing a more interconnected Web3 ecosystem for Telegram’s large user base. Jordi Alexander, Chief Alchemist of Mantle Network, emphasized the common purpose shared by both organizations in advancing EVM-compatible Layer 2 blockchain capabilities on TON. The collaboration aims to create an interoperable multichain future that prioritizes user-centric experiences.
About TON Foundation
The Open Network Foundation (TON Foundation) is a non-profit organization based in Switzerland. It was founded in 2023 and operates with 100% funding from the community. The foundation supports initiatives aligned with The Open Network’s mission and aims to create a Web3 ecosystem within Telegram Messenger, allowing billions of users to own their digital identity, data, and assets.
About Mantle Network
Mantle Network is an Ethereum Layer 2 (L2) solution that operates as part of the Mantle Ecosystem. The ecosystem includes Mantle Governance, Mantle Treasury, and an upcoming Ether liquid staking product called Mantle LSD. Mantle Network is compatible with the Ethereum Virtual Machine and adopts a modular architecture that enables individual module upgrades and the adoption of the latest innovations. As the world’s first DAO-spawned L2 solution, Mantle Network aims to drive mass adoption of token-governed technologies.
Hot Take: Strengthening Interoperability for Web3 Ecosystems
The strategic alliance between TON Foundation and Mantle Network marks an important step towards enhancing interoperability in the Web3 ecosystem. By combining their expertise in EVM-compatible Layer 2 solutions, these organizations aim to create seamless cross-chain experiences for users. The integration of $jMNT on STON.fi will enable easier trading and liquidity provisions between Mantle and TON. Additionally, the educational and community-focused initiatives will foster collaboration and knowledge sharing among Telegram users. This partnership signifies a commitment to building user-centric Web3 ecosystems that empower individuals to take ownership of their digital assets and identities.
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