TON Accelerator Program to Inject $25 Million into Revolutionary Blockchain Projects on The Open Network (TON) – Cryptopolitan

The Open Network (TON), an avant-garde technology that aims to integrate all blockchains and the Web2 internet into a unified network, today revealed that it had launched its long-awaited TON Accelerator Program. The TON Accelerator program is a strategic initiative that will catalyze the growth of the TON ecosystem by injecting up to $25 million into transformative projects.

According to a press release seen by Cryptopolitan, the funding, generously provided by the TONcoin Fund, a dedicated $250 million ecosystem fund that supports visionary founders building on the TON network, will be channeled into a multitude of projects. With a particular emphasis on decentralized finance (DeFi), each investment will range from $50,000 to $250,000 per project, fostering innovation across the TON ecosystem.

Partnerships and mentorship: driving success in the TON Accelerator Program

The TON Accelerator Program will not be limited to financial support alone. The program collaborates with prominent industry players, and aims to create partnerships and provide invaluable mentorship to the selected projects.

Among the recognized accelerator partners are Gotbit, a leading hedge fund and market-making company specializing in trading and risk management solutions; Web3port, a dynamic developer of tools connecting Web3.0 startups and contributors to accelerate innovation; Tonstarter, the primary fundraising platform on TON, TEB, a thriving incubator for Web3 developers based in South Korea, and Cypher Capital, a prominent multi-strategy crypto investment firm located in the United Arab Emirates.

As the TON Foundation continues to establish strategic alliances with major accelerators in the web3 space, the range of TON Accelerator Program partners is set to expand further. This collaborative ecosystem will foster an environment conducive to innovation, attracting budding developers and talented repeat founders across global locations central to the blockchain landscape.

“We are thrilled to unveil the TON Accelerator Program as our dynamic ecosystem continues to evolve and capture new talent. This is just the beginning of the many different incubators that will be supported in the future. Funding plays a central role in our localized hub rollout strategy , and our ecosystem will strive to attract innovative developers and successful repeat founders across various key global locations.”

Justin Hyun, Head of Incubation and Growth at TON Foundation.

Speaking on behalf of Cypher Capital, Chairman Bill Qian expressed his enthusiasm, emphasizing the unique nature of the program in the web3 universe. He noted, “The TON Accelerator Program revolutionizes the incubator concept that gained fame in the web2 ecosystem. Leveraging the best practices of web3 protocols and methods, we are excited to contribute to this next-generation program.”

Hack-a-TONx DoraHacks: A springboard for funded projects

To kick-start this ambitious funding round, the TON Accelerator Program will initially focus on projects that participated in the Hack-a-TONx DoraHacks. However, this captivating two-month virtual hackathon will be conducted in collaboration with DoraHacks, a globally recognized hacker organization that bridges the gap between hackers and entrepreneurial ideas, and serves as a springboard for exceptional projects.

Interesting developers and innovative teams are invited to submit their projects for consideration, with a key prerequisite being the use of TON technology (ie support for TVM & TON smart-contract languages). In addition, projects should be ready for minimum viable product (MVP), which requires marketing, business development and technology support. Teams with proof-of-concept or prototype projects that require significant technical support are encouraged to apply for grants at earlier stages.

With the launch of the TON Accelerator Program and its significant investments, the TON ecosystem is poised to experience a wave of innovation, further cementing its position as a leader in the blockchain space. By fostering partnerships, mentoring and providing vital financial support, the TON Accelerator Program is set to drive the development of projects within the TON network, revolutionizing the future of blockchain technology.