TON AppChain Mainnet Launch, Decentralized Finance Applications Log in to Telegram Ecosystem

The TON AppChain (TAC) has officially launched its Mainnet recently, aiming to allow Ethereum-compatible Decentralized Finance (DeFi) applications to run within Telegram's vast user ecosystem. With the activation of the TAC Mainnet, Ethereum DeFi protocols such as Curve, Morpho, and Euler are now available for use on Telegram through this chain.

The TAC token ($TAC) surged shortly after its launch on the Mainnet, with an increase of over 50%, peaking at $0.0248, before later retreating to around $0.026.

Technical Path: The Bridge between Ethereum Decentralized Finance and Telegram

TAC is a Layer 1 blockchain based on CosmosEVM, with the core design philosophy of providing a "TON-specific cross-chain layer" aimed at connecting Ethereum's DApps and developers with Telegram's over 1 billion monthly active users. This technical path resolves the issue of TON blockchain being incompatible with EVM, allowing EVM-based DApps to access Telegram's exclusive blockchain infrastructure through TAC.

The TAC ecosystem is supported by multiple infrastructure partners, including projects that provide cross-chain messaging and oracle data stream services, ensuring the smooth operation and data accuracy of DeFi applications in the Telegram environment.

Currently, several well-known Ethereum DeFi protocols have logged in to Telegram through TAC, providing users with decentralized trading and lending services.

Distribution Strategy: Leverage the Large User Base of Telegram

The strategic core of TAC lies in gaining access to the TON ecosystem and reaching Telegram's vast user base through TON. It is said that users can use DeFi applications with just "one click" to trade or engage in yield farming.

A partner of a certain laboratory stated that the launch of TAC's Mainnet is "an important step in bringing DeFi into the mainstream," aiming to provide "real practicality" for over a billion users.

Telegram previously reached an agreement with the TON Foundation, requiring all blockchain mini-programs to be developed based on TON, and launched a digital asset tokenization plan. The founder of Telegram mentioned the deep integration of social and finance, stating that they want every chat window to become a financial gateway.

Compared to other Layer 1 projects, TAC has a unique advantage: it does not need to start from scratch to cultivate user habits, but instead stands directly on the shoulders of the giant that is Telegram.

TON Ecosystem: Opportunities and Challenges Coexisting

Despite the capital frenzy, the development of the TON ecosystem still faces real challenges. The year 2024 has been a tale of two extremes for the TON ecosystem; in the first half of the year, the TVL once exceeded $760 million, but in August it faced a significant decline, currently standing at less than $150 million.

TAC faces three challenges:

1. How to attract quality DApp developers to continue building in the overall sluggish TON ecosystem.
2. Break through the dilemma of "good praise but poor attendance" and truly activate the participation of Telegram's billion-level users.
3. Responding to the regulatory environment, especially regarding regulations related to on-chain activities.

It is not easy for a large number of chat users to suddenly become proficient in Decentralized Finance; how far this experiment connecting the two major ecosystems can go still needs time to provide an answer.