The program will provide funding ranging from $50,000 to $250,000 for projects utilizing TON and demonstrating a minimum viable product (MVP).
The Open Network (TON), a layer-1 blockchain developed by Telegram, revealed the introduction of a $25 million fund on May 22, aimed at supporting projects within its ecosystem. Known as the "TON Accelerator Program," this initiative will provide project investments ranging from $50,000 to $250,000, along with partnerships and mentorship opportunities from TON's team.
The initial group of beneficiaries for the funding will primarily consist of projects that took part in a recent TON hackathon, emphasizing the incubation of DeFi initiatives. Alongside being built on TON, these projects should possess a minimum viable product (MVP) and seek assistance in areas such as marketing, business, and technology.
"Teams working on proof-of-concepts or prototypes seeking extensive technical assistance are encouraged to apply for early-stage grants," clarified TON's developers.
Since 2020, TON has operated as an open-source, community-driven project. Its architecture is designed to facilitate substantial scalability and process millions of transactions per second. In April, TON received an initial commitment of $250 million from prominent firms for its ecosystem, known as the TONcoin Fund. Following its launch, Cameroon, the Democratic Republic of the Congo, and the Republic of the Congo expressed intentions to adopt the TON blockchain.
