TonX Studio’s Dr. Awesome Doge Launches $5M Fund

TonX Studio’s co-founder, Dr. Awesome Doge, revealed plans for a $5 million ecosystem fund aimed for the development of the TON blockchain.

During a public lecture at the “TON Hacker House” event in Hong Kong, Dr. Awesome Doge, co-founder of TonX Studio and an ecosystem partner of the Open Network (TON), revealed plans to create a $5 million ecosystem fund to speed up the development of the TON blockchain.

The TonX ID ecosystem membership card is also in the works for introduction by TonX Studio. The goal of this program is to facilitate communication between TON projects and new users. There will be a total of 10,000 pieces released, and each will come with distinct bonuses.

The original TON team, which included developers and investors, established TonX Studio as a venture capital firm. Since its start in 2021, it has created a varied range of products, among which are TonStake, regarded as the first public staking validator, and TonKey, a multi-signature TON wallet renowned for setting new benchmarks in security and convenience.

The Expansion of the TON Blockchain Raises Hopes of Widespread Use

Amidst the TON blockchain’s noteworthy renaissance, news is made. With its meteoric rise in popularity over the past month, the platform is now among the most rapidly expanding ecosystems in the industry. The network’s heavy activity is evident in its total value locked (TVL), which has surged by over 500%. On top of that, just in March, the native cryptocurrency TON had an incredible rise of 200 percent.

Presently, according to the most recent data from CoinMarketCap, TON is trading at $5.11, which signifies an increase of more than 1.30% over the last 24 hours.

On top of that, TON has the makings of the blockchain that the masses will embrace. Telegram, a messaging service, recently announced its intentions to incorporate TON payments for ads and income sharing for Telegram communities. There will be no associated costs for doing this in TON. If these trends persist, TON is likely to gain even more steam.

Furthermore, a number of other factors could drive TON’s expansion. One of these is the fact that TON has a 20% higher liquid staking yield than its competitors. An additional consideration is the extra APY offered by stTON, a liquid token that represents a portion of the total TON pool held on prominent decentralized exchanges (DEXs), including Megaton Finance, STON.fi, and DeDust.io, in addition to Bemo and TON. Additionally, we anticipate that the TON token’s unique points program and the upcoming airdrop of BMO, the first liquid staking solution, will contribute to its growth trajectory.