TON Network's TVL surpasses $760M due to airdrops and incentives. Is this bullish for Toncoin? Explore the sustainability of TON's growth strategy.
The Open Network (TON), a layer-1 blockchain initially developed by Telegram, has recently surpassed $760 million in total value locked (TVL). While this milestone reflects significant growth driven by airdrops and incentives, questions remain about the sustainability of this strategy and its long-term impact on Toncoin (TON).
Key Points:
TON Network TVL Milestone:
TON Network has exceeded $760 million in TVL, ranking as the tenth largest blockchain.
Growth fueled by airdrops and incentives targeting Telegram’s extensive user base.
Strategic Initiatives and Partnerships:
$20 million TON ecosystem fund announced by Bitget and Foresight Ventures.
Launch of TON applications chain for Ethereum Virtual Machine (EVM) compatibility.
Partnerships with 1inch, Sign, and OKX to enhance the TON ecosystem.
Anticipated Developments:
Teleport Bitcoin bridge for integrating BTC with TON DApps.
Focus on play-to-earn mini-games and decentralized finance applications.
Challenges in Sustaining Growth:
Declining activity in major DApps like DeDust and Ston Fi.
Growth is driven by airdrop expectations rather than organic user engagement.
Criticism over token allocation and potential bot activity in new projects.
Community Concerns:
User complaints about incentive structures and lack of transparency in token launches.
Influence of external factors on the demand for TON and its ecosystem.
While the TON Network's recent achievements highlight its potential within the blockchain space, the sustainability of its growth strategy remains uncertain. The reliance on airdrops and incentives has driven initial interest, but long-term success will depend on genuine user engagement and the effective management of token launches. As the ecosystem matures, the true impact on Toncoin’s value will become clearer.
Source: Cointelegraph
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