TON Foundation has entered into a new partnership with Jupiter to incubate a new DEX aggregator on the TON Virtual Machine TVM. Together, the two companies want to thrive in DeFi.
TON Foundation and the collaboration with Jupiter: incubation of a new DEX aggregator on TVM
The TON Foundation has formed one new partnership with Jupiter Unpleasant hatching a new DEX aggregator on the TON Virtual Machine (TVM).
In practice, the goal is to improve the aggregation of liquidity on TON thanks to Jupiter, a leading decentralized trading platform in the Spot and Perps sector.
Not only that, the idea is to do that too Pave the way for cross-chain swap integrations that will shape the future of decentralized finance (DeFi).
This partnership leverages Jupiter’s experience and network to make TON a more scalable DeFi ecosystem, unlocking new cross-chain trading opportunities.
And so, while blockchain networks allow users to find the best rates and access liquidity, developers and traders in TON will find new tools to thrive in the DeFi space.
To launch the new partnership, TON Foundation and Jupiter are launching a DeFi competition to foster innovation within the TON ecosystem.
TON Foundation with Jupiter: the new DeFi competition to promote innovation
Another special feature of this new partnership, signed by TON and Jupiter, concerns the DeFi competition that aims to promote innovation through a competition between the participants.
In fact: already from now until March 15, 2025it is possible to submit your aggregation projects (ongoing or in development) as new DeFi solutions.
The winners will be announced on March 31, 2025and they will be able to benefit from significant prizes, as well as two important support measures.
First and foremost, Jupiter’s advisory support in the field of go-to-market strategies, route optimization and liquidity management. Subsequently, there will also be support in the form of resources and financing from the TON Foundation, aimed at accelerating the growth and adoption of projects within its ecosystem.
In this regard Vlad DegenDeFi leader of the TON Foundation, commented:
“We are excited to partner with Jupiter as we continue to expand TON’s DeFi ecosystem. Our previous collaboration with similar partners in this area earlier this year motivated us to pursue a similar collaboration with Jupiter. We believe this collaboration will deliver tremendous value to TON and help create a thriving cross-chain future.”
Price of TON and the achievement of 2024
While the TON Foundation looks to new DeFi horizons, Telegram’s crypto is capping off an extraordinary 2024.
At the time of writing, TON is worth $5.56, up +132% from a year ago. In this fantastic year of record highs for the leading cryptocurrency, Bitcoin, TON has also achieved new milestones.
In fact, the new ATH – All-Time High or historical maximum is above $8, recorded in June 2024.
Over the past month, the TON network has also recorded a real boom in USDT stablecoins developed on its blockchain. Of the less than 100 million USDT on TON issued in April, more than 1.4 billion were issued in December, of which 1.2 billion are already in circulation.
Another achievement this month is the conclusion of the beta phase for TON Space, the integrated solution in the Telegram wallet for custody and self-custody.
