Ton now has a fund of $ 100 million to stimulate projects on the network

TVM Ventures has launched a $ 100 million fund to promote the expansion of the on-chain offer of the Open Network-what a push indicates to send the network away from its dependence on L2S.

TVM said that the aim of the fund is to equip startups and companies with capital and infrastructure to stimulate mass adoption of Ton, a blockchain developed in consultation with Messaging app Telegram. The fund will do this by promoting development on the basic layer of the Ton Blockchain, instead of on its L2S or side chains.

If Ton does not develop its own blockchain, it will be “another EVM L2 where people come to ‘new’ projects come to farmers who copy and paste smart contracts that were written in Ethereum years ago,” said Ton Foundation member Steve Yun Decrypt.

Allocations of the fund go to three investment pillars, the company said: decentralized financial infrastructure, cross -border payments and security on TON.

According to that investment framework, TVM Ventures intend to give priority to Defi protocols with which users can store and store their crypto and have access to other traditional bank-like services. In the meantime, it will also allocate funds to accelerating projects that relate to “huge inefficiencies” in conveyors and the broader cross -border payment space, according to Yun.

On security front, TVM Ventures said that it will also support safety in its portfolio protocols, and cooperates with advanced security auditors for the Ton Virtual Machine.

Ton was launched in 2021, with the aim of going at least 500 million users on web3 on board. It started as the brainchild of Messaging App Telegram, which eventually spent the goat on an external community of builders because of worries.

Nevertheless, Telegram and Ton have been increasingly entangled in the past two years, with various applications taking waves of telegram users to the network. Those applications include Ton Wallet, an application launched on Telegram to facilitate tap-to-earn crypto games such as Hamster Combast, Notcoin and Catizen. The games have succeeded in attracting hundreds of millions of players.

Yun, however, imagines a world in which the Ton community is aimed at its own chain, rather than side chains and L2S.

Building on a layer 1, users enables us to have a more decentralized and safe experience than to build up on Layer-2 networks, which usually sacrifice security for speed. It also prevents the fragmentation of liquidity, he said.

“Ton is at a crossroads,” said Yun. “It can either pursue the path of dependence on L2S and side chains or devote himself to its own chain. We choose the latter. “

Published by Stacy Elliott.