The TON application chain, also known as TAC, officially launched its mainnet on Tuesday, July 15th, allowing Ethereum-compatible decentralized finance applications to operate within Telegram’s user ecosystem.
According to a press release shared with Defiant, TAC’s mainnet is now live and live, with the popular Ethereum-based Defi protocols (curves, morpho, Euler, etc.) being available via telegrams via the chain, according to a press release.
After its launch, Coingecko price data shows that TAC’s native tokens rose by more than 50% to $0.0248, but press times went back to nearly $0.022.
TAC 24-hour price chart. Source: Coingecko
Built on COSMOSEVM, TAC is a layer 1 chain that connects Ethereum Dapps and Developers with Telegram’s monthly active users through what protocol documents call “ton-specific cross-chain layers.”
TAC is also integrated with infrastructure partners such as Layerzero, Redstone, BlockScout and Babylon, which provide Cross-Chain messaging and Oracle data feeds, according to a press release.
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Supported by blockchain development company The Open Platform (TOP). This reached a $1 billion valuation following the 28.5 million Series A round earlier this month, but TAC claims it has completed a liquidity campaign that brought over a liquidity distribution protocol of over $800 million in total locked in collaboration with the Turtle Club.
“The launch of TAC’s mainnet is a major step towards bringing defi to the mainstream. By linking Ethereum dapps with the Telegram ecosystem, TAC unlocks the substantiveness of over 1 billion users.”
The TAC launch is six months after Telegram restricted blockchain-based mini-apps officially restricted to ton-based projects. Under the agreement with the Ton Foundation announced in January, all Telegram Mini apps using blockchain capabilities will run on Ton except support for other chain or wallet standards and must use the Ton Connect protocol.
Commenting on its collaboration with the Ton Foundation, Telegram said at the time it was planning to tokenize digital assets as NFTS, including limited edition gifts, including other digital assets, as “only ton blockchain within platforms such as emojis and stickers.”
