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Toncoin has been integrated with the ivendPay.com payments system.
IvendPay is a payments system that lets people pay for goods and services in crypto at everyday places: stores, vending machines, and any point-of-sale terminal.
To make a payment in crypto, all the user has to do is open their crypto wallet and scan the QR code in the payments terminal, which will automatically prompt the payment process.
The ivendPay team demonstrated a few different ways of how Toncoin can be used in the real world during the WOW Summit Dubai, one of the world’s biggest blockchain events dedicated to decentralized finance and Web3 technologies.
Currently, ivendPay works with over 300 point-of-sale terminals in Hong Kong, Singapore, Malaysia, Germany, and Mexico.
We wish the ivendPay team nothing but the best in its future endeavors and encourage all our subscribers to get acquainted with ivendPay’s services by watching the video we’ve attached here.
IvendPay is a payments system that lets people pay for goods and services in crypto at everyday places: stores, vending machines, and any point-of-sale terminal.
To make a payment in crypto, all the user has to do is open their crypto wallet and scan the QR code in the payments terminal, which will automatically prompt the payment process.
The ivendPay team demonstrated a few different ways of how Toncoin can be used in the real world during the WOW Summit Dubai, one of the world’s biggest blockchain events dedicated to decentralized finance and Web3 technologies.
Currently, ivendPay works with over 300 point-of-sale terminals in Hong Kong, Singapore, Malaysia, Germany, and Mexico.
We wish the ivendPay team nothing but the best in its future endeavors and encourage all our subscribers to get acquainted with ivendPay’s services by watching the video we’ve attached here.
Where to buy Toncoin.
It can be confusing at times where to buy a specific cryptocurrency because it might only be listed on a couple of exchanges. Therefore, we’ve compiled a short guide for you on the different ways to buy Toncoin.
In the Telegram app:
— The @wallet Telegram bot: It accepts crypto and bank cards for payments.
With your bank card in these crypto apps:
— Mercuryo: A convenient way to buy Toncoin with a bank card. (See instructions.)
— Neocrypto: Another easy-to-use app where you can buy Toncoin with a bank card.
On decentralized exchanges (DEX):
— Uniswap: Swap for Toncoin on the world’s biggest DEX. (See instructions.)
— PancakeSwap: The most popular DEX protocol on Binance Smart Chain.
— Biswap: One of the biggest DEX platforms.
On centralized exchanges (CEX):
— Crypto exchange FTX: The Toncoin/USD pair is available for spot trading and perpetual futures contracts.
— Crypto exchange OKX: Trading is available in the Toncoin/USDT pair.
— Crypto exchange EXMO: Trading is available in the Toncoin/USDT and Toncoin/BTC pairs.
— The Bit.com crypto exchange: Spot trading is available in the Toncoin/USDT pair.
You can find more ways to buy Toncoin and other cryptocurrencies in the “Toncoin” section on the official website.
It can be confusing at times where to buy a specific cryptocurrency because it might only be listed on a couple of exchanges. Therefore, we’ve compiled a short guide for you on the different ways to buy Toncoin.
In the Telegram app:
— The @wallet Telegram bot: It accepts crypto and bank cards for payments.
With your bank card in these crypto apps:
— Mercuryo: A convenient way to buy Toncoin with a bank card. (See instructions.)
— Neocrypto: Another easy-to-use app where you can buy Toncoin with a bank card.
On decentralized exchanges (DEX):
— Uniswap: Swap for Toncoin on the world’s biggest DEX. (See instructions.)
— PancakeSwap: The most popular DEX protocol on Binance Smart Chain.
— Biswap: One of the biggest DEX platforms.
On centralized exchanges (CEX):
— Crypto exchange FTX: The Toncoin/USD pair is available for spot trading and perpetual futures contracts.
— Crypto exchange OKX: Trading is available in the Toncoin/USDT pair.
— Crypto exchange EXMO: Trading is available in the Toncoin/USDT and Toncoin/BTC pairs.
— The Bit.com crypto exchange: Spot trading is available in the Toncoin/USDT pair.
You can find more ways to buy Toncoin and other cryptocurrencies in the “Toncoin” section on the official website.
Our AMA with Toya Zhang.
On March 14, we had an AMA in our English TON Community chat with Toya Zhang, chief marketing officer of the Bit.com crypto exchange, which is a subsidiary of institutional custody platform Matrixport.
If you were unable to join us live, you can catch up right now.
The AMA starts from this message in the chat:
https://t.iss.one/toncoin_chat/36795
Toya discussed Toncoin’s potential, shared her thoughts on the work the TON Foundation has done so far, and told us about the future plans of the partnership between TON and Matrixport.
On March 14, we had an AMA in our English TON Community chat with Toya Zhang, chief marketing officer of the Bit.com crypto exchange, which is a subsidiary of institutional custody platform Matrixport.
If you were unable to join us live, you can catch up right now.
The AMA starts from this message in the chat:
https://t.iss.one/toncoin_chat/36795
Toya discussed Toncoin’s potential, shared her thoughts on the work the TON Foundation has done so far, and told us about the future plans of the partnership between TON and Matrixport.
TON’s Suite of Services
With a suite of services that can power an entirely decentralized system, TON is laying the foundation for the new internet.
• TON’s first layer is an infinitely scalable proof-of-stake network that is able to support any amount of transactions it is asked to complete.
• TON Services allows developers to build dApps with accessible interfaces.
• TON Payments will be a revolutionary way for instant micropayments to be made among users, bots, and other services in an off-chain manner.
• TON Proxy is an upcoming decentralized VPN that allows users to explore the internet anonymously and securely.
• TON DNS ascribes naming services to accounts, nodes, and other aspects of the network through smart contracts, making the user interface simple and accessible.
• TON Storage will be a decentralized cloud storage platform that allows users to back up their data without it being privy to a central authority. Through all of these services, TON is laying the foundation for a one-stop decentralized internet.
Learn more here.
With a suite of services that can power an entirely decentralized system, TON is laying the foundation for the new internet.
• TON’s first layer is an infinitely scalable proof-of-stake network that is able to support any amount of transactions it is asked to complete.
• TON Services allows developers to build dApps with accessible interfaces.
• TON Payments will be a revolutionary way for instant micropayments to be made among users, bots, and other services in an off-chain manner.
• TON Proxy is an upcoming decentralized VPN that allows users to explore the internet anonymously and securely.
• TON DNS ascribes naming services to accounts, nodes, and other aspects of the network through smart contracts, making the user interface simple and accessible.
• TON Storage will be a decentralized cloud storage platform that allows users to back up their data without it being privy to a central authority. Through all of these services, TON is laying the foundation for a one-stop decentralized internet.
Learn more here.
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TON’s Suite of Services
With a suite of services that can power an entirely decentralized system, TON is laying the foundation for the new internet.
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The ton.org website has been updated.
Since the beginning of the year, the TON project has experienced significant growth. The number of wallet addresses has increased by three times, and the total number of followers on TON social media platforms has reached 1.6 million people.
The Open Network is becoming a true blockchain for the masses, and today, we’re excited to unveil the new ton.org site.
The updated site has a sleeker interface, making it easier to navigate, and it shares more information on the project’s history and philosophy.
The website will constantly update its content and will soon translate into other languages.
If you find mistakes or inaccuracies, please send them to our feedback bot: @TonOrgBot
Since the beginning of the year, the TON project has experienced significant growth. The number of wallet addresses has increased by three times, and the total number of followers on TON social media platforms has reached 1.6 million people.
The Open Network is becoming a true blockchain for the masses, and today, we’re excited to unveil the new ton.org site.
The updated site has a sleeker interface, making it easier to navigate, and it shares more information on the project’s history and philosophy.
The website will constantly update its content and will soon translate into other languages.
If you find mistakes or inaccuracies, please send them to our feedback bot: @TonOrgBot
TON Community Weekly Digest
Here’s a roundup of the ecosystem’s most exciting news from the past seven days.
Network stats update:
— The number of new accounts created on TON from March 14 to 20 grew from 344,816 to 359,734 (+4.3%).
News:
— TON’s official ton.org site got a big update.
— We hosted an AMA with Toya Zhang, chief marketing officer of Bit.com.
— The number of Toncoin followers on CoinMarketCap has surpassed 200,000 people.
— Toncoin was integrated into the ivendPay.com payments system.
— The source code for the tonscan.org explorer was made open-source, and some new functions were added.
— A new update for the Tonmoon Explorer was released.
Stay up-to-date with the latest developments brewing in the TON ecosystem by turning on the notifications to this channel. You won’t want to miss a thing!
Here’s a roundup of the ecosystem’s most exciting news from the past seven days.
Network stats update:
— The number of new accounts created on TON from March 14 to 20 grew from 344,816 to 359,734 (+4.3%).
News:
— TON’s official ton.org site got a big update.
— We hosted an AMA with Toya Zhang, chief marketing officer of Bit.com.
— The number of Toncoin followers on CoinMarketCap has surpassed 200,000 people.
— Toncoin was integrated into the ivendPay.com payments system.
— The source code for the tonscan.org explorer was made open-source, and some new functions were added.
— A new update for the Tonmoon Explorer was released.
Stay up-to-date with the latest developments brewing in the TON ecosystem by turning on the notifications to this channel. You won’t want to miss a thing!
A major programming competition hosted by CodeForces.
We’re excited to announce the start of CodeTON, a competition for programmers co-hosted by CodeForces and the TON Foundation.
The first round begins this Thursday, March 24, at 17:35 (GMT +3), and the main prize pool is a cool 13,000 Toncoin, which will be distributed to the 1,000 best participants.
Registration is open to everyone: https://codeforces.com/blog/entry/101056
CodeForces is a well-known platform where tens of thousands of deeply experienced programmers worldwide compete in various competitions at the highest level.
We’re excited to announce the start of CodeTON, a competition for programmers co-hosted by CodeForces and the TON Foundation.
The first round begins this Thursday, March 24, at 17:35 (GMT +3), and the main prize pool is a cool 13,000 Toncoin, which will be distributed to the 1,000 best participants.
Registration is open to everyone: https://codeforces.com/blog/entry/101056
CodeForces is a well-known platform where tens of thousands of deeply experienced programmers worldwide compete in various competitions at the highest level.
Update on U.S. Cryptocurrency Regulation
2022 began with high expectations that the United States government would put some sort of legal structure around cryptocurrency into place. At the end of last year, Congress met in a session with key members of the crypto community to discuss the best ways to go about a regulatory framework. Now, on March 9, President Biden issued the “Executive Order on Ensuring Responsible Development of Digital Assets.”
• The order does not outline any current rules but calls for the government to examine the issue of cryptocurrency and develop further rules.
• The focuses of the order include consumer and investor protection, financial stability, and illicit activity.
• Biden also called for further research to be done into a CBDC digital dollar.
The order generally holds a positive tone, as it displays cryptocurrency as an important market in which the U.S. “must maintain technological leadership in this rapidly growing space.” As the U.S. is host to the majority of Bitcoin mining and is the home of many of the top centralized exchanges, the ramifications of any regulations that are imposed will be felt worldwide.
2022 began with high expectations that the United States government would put some sort of legal structure around cryptocurrency into place. At the end of last year, Congress met in a session with key members of the crypto community to discuss the best ways to go about a regulatory framework. Now, on March 9, President Biden issued the “Executive Order on Ensuring Responsible Development of Digital Assets.”
• The order does not outline any current rules but calls for the government to examine the issue of cryptocurrency and develop further rules.
• The focuses of the order include consumer and investor protection, financial stability, and illicit activity.
• Biden also called for further research to be done into a CBDC digital dollar.
The order generally holds a positive tone, as it displays cryptocurrency as an important market in which the U.S. “must maintain technological leadership in this rapidly growing space.” As the U.S. is host to the majority of Bitcoin mining and is the home of many of the top centralized exchanges, the ramifications of any regulations that are imposed will be felt worldwide.
Toncoin is now listed on the Bit2Me crypto exchange.
It’s currently available in the Bit2Me wallet and on the Bit2Me platform.
Bit2Me is one of the biggest crypto exchanges in Southern Europe, serving people from over 100 countries, including Spain, Italy, Portugal, Latin America, Canada, and South Africa.
In February, Bit2Me became the first crypto organization in the world to be registered with the Bank of Spain as a provider of digital currency exchange for fiat currency and wallet custody services.
The platform is often the preferred choice for Spanish-speaking crypto investors, and its user base has surpassed 1 million.
In light of this new partnership with TON, the Bit2Me crypto exchange plans to publish educational materials and videos on Toncoin.
We’re happy to see Toncoin added to yet another prominent crypto exchange in Europe. Congratulations to Toncoin, and here’s to the TON Community!
It’s currently available in the Bit2Me wallet and on the Bit2Me platform.
Bit2Me is one of the biggest crypto exchanges in Southern Europe, serving people from over 100 countries, including Spain, Italy, Portugal, Latin America, Canada, and South Africa.
In February, Bit2Me became the first crypto organization in the world to be registered with the Bank of Spain as a provider of digital currency exchange for fiat currency and wallet custody services.
The platform is often the preferred choice for Spanish-speaking crypto investors, and its user base has surpassed 1 million.
In light of this new partnership with TON, the Bit2Me crypto exchange plans to publish educational materials and videos on Toncoin.
We’re happy to see Toncoin added to yet another prominent crypto exchange in Europe. Congratulations to Toncoin, and here’s to the TON Community!
A new contest for developers.
Yesterday, CodeForces initiated the first phase of the CodeTON contest, in which over 11,000 programmers are participating.
Today, however, we’re announcing the TON Smart Challenge, a new competition for developers with a total prize pool of 17,777 Toncoin.
Participants are to optimize five smart contracts in FunC, the programming language for the TON blockchain, about which the TON Foundation wrote in detail for this article.
The TON Smart Challenge kicks off on March 28. For more details, follow the link to the event’s website: https://ton.org/contest
Yesterday, CodeForces initiated the first phase of the CodeTON contest, in which over 11,000 programmers are participating.
Today, however, we’re announcing the TON Smart Challenge, a new competition for developers with a total prize pool of 17,777 Toncoin.
Participants are to optimize five smart contracts in FunC, the programming language for the TON blockchain, about which the TON Foundation wrote in detail for this article.
The TON Smart Challenge kicks off on March 28. For more details, follow the link to the event’s website: https://ton.org/contest
Rules for digital safety.
The Open Network ecosystem has continued to expand, and new projects have been sprouting up practically every day.
There’s nothing we love more than seeing new passionate teams joining the fray and developing products on TON; however, when a network experiences this kind of exponential growth, there will be some side effects.
Such network growth inevitably attracts the attention of scammers and bad actors, who prey on inexperienced blockchain users. Therefore, today, we want to talk about some digital safety rules.
So, we recommend reading the rules below.
Rule #1: NFTs.
Be careful when buying NFTs on TON. There is already a wide variety of collections available, but it’s important to keep in mind that many of them are overpriced.
Rule #2: Store your seed phrase properly.
Remember: If you lose your 24-word seed phrase, you’ll lose access to your wallet and crypto forever.
Write down your seed phrase on a piece of paper and keep it in a reliable and safe place. Never keep a screenshot of your seed phrase on your mobile phone or in a text file on your computer.
In short, never store your seed phrase on a device connected to the internet.
It’s also worth reading our guide, “Where can I store Toncoin?”
Rule #3: Go over the instruction guides on crypto exchanges.
If you want to make a transaction, but you’ve never made one, the first transaction should contain the minimal amount — e.g., 0.5 Toncoin — as a test run to ensure you understand how everything works.
Remember: There are many instances when the technical support of crypto exchanges will be unable to help you if something goes wrong with a transaction.
Rule #4: The TON Apps suite has changed its concept.
We’d like to remind aspiring teams that the application process for listing a project in the TON Apps suite has become significantly more straightforward. Now, teams go through a streamlined verification process instead of a long and thorough check.
Therefore, even if a project is listed in the TON Apps suite, there’s still no safety guarantee.
Rule #5: Do not trust unfamiliar teams.
This rule applies to mining pools, staking pools, NFT projects, and any project that promises high returns.
Be skeptical before investing your money when people or projects make promises of exorbitantly high returns. Try to find mentions of the project in official TON resources.
If you’re having trouble finding mentions of a specific project, you should proceed carefully because it may carry higher risks, and we recommend “DYOR” — do your own research.
We ask that you follow these simple rules and trust only official sources of information.
The Open Network ecosystem has continued to expand, and new projects have been sprouting up practically every day.
There’s nothing we love more than seeing new passionate teams joining the fray and developing products on TON; however, when a network experiences this kind of exponential growth, there will be some side effects.
Such network growth inevitably attracts the attention of scammers and bad actors, who prey on inexperienced blockchain users. Therefore, today, we want to talk about some digital safety rules.
So, we recommend reading the rules below.
Rule #1: NFTs.
Be careful when buying NFTs on TON. There is already a wide variety of collections available, but it’s important to keep in mind that many of them are overpriced.
Rule #2: Store your seed phrase properly.
Remember: If you lose your 24-word seed phrase, you’ll lose access to your wallet and crypto forever.
Write down your seed phrase on a piece of paper and keep it in a reliable and safe place. Never keep a screenshot of your seed phrase on your mobile phone or in a text file on your computer.
In short, never store your seed phrase on a device connected to the internet.
It’s also worth reading our guide, “Where can I store Toncoin?”
Rule #3: Go over the instruction guides on crypto exchanges.
If you want to make a transaction, but you’ve never made one, the first transaction should contain the minimal amount — e.g., 0.5 Toncoin — as a test run to ensure you understand how everything works.
Remember: There are many instances when the technical support of crypto exchanges will be unable to help you if something goes wrong with a transaction.
Rule #4: The TON Apps suite has changed its concept.
We’d like to remind aspiring teams that the application process for listing a project in the TON Apps suite has become significantly more straightforward. Now, teams go through a streamlined verification process instead of a long and thorough check.
Therefore, even if a project is listed in the TON Apps suite, there’s still no safety guarantee.
Rule #5: Do not trust unfamiliar teams.
This rule applies to mining pools, staking pools, NFT projects, and any project that promises high returns.
Be skeptical before investing your money when people or projects make promises of exorbitantly high returns. Try to find mentions of the project in official TON resources.
If you’re having trouble finding mentions of a specific project, you should proceed carefully because it may carry higher risks, and we recommend “DYOR” — do your own research.
We ask that you follow these simple rules and trust only official sources of information.
TON Community Weekly Digest
Here’s a roundup of the ecosystem’s most exciting news from the past seven days.
Network stats update:
— The number of new accounts created on TON from March 20 to 26 grew from 359,734 to 372,453 (+3.5%).
News:
— The TON Foundation announced its TON Smart Challenge, a big competition for developers with a prize pool of 17,777 Toncoin.
— The team at TonWhales launched the very first decentralized staking pool in the TON ecosystem.
— The CodeForces platform kicked off the first stage of its CodeTON competition for programmers.
— One of the biggest crypto exchanges in Southern Europe, Bit2Me listed Toncoin.
Stay up-to-date with the latest developments brewing in the TON ecosystem by turning on the notifications to this channel. You won’t want to miss a thing!
Here’s a roundup of the ecosystem’s most exciting news from the past seven days.
Network stats update:
— The number of new accounts created on TON from March 20 to 26 grew from 359,734 to 372,453 (+3.5%).
News:
— The TON Foundation announced its TON Smart Challenge, a big competition for developers with a prize pool of 17,777 Toncoin.
— The team at TonWhales launched the very first decentralized staking pool in the TON ecosystem.
— The CodeForces platform kicked off the first stage of its CodeTON competition for programmers.
— One of the biggest crypto exchanges in Southern Europe, Bit2Me listed Toncoin.
Stay up-to-date with the latest developments brewing in the TON ecosystem by turning on the notifications to this channel. You won’t want to miss a thing!
The TON Smart Challenge competition has begun.
Today, the TON Foundation is kicking off the TON Smart Challenge, a big competition for developers with a total prize pool of 17,777 Toncoin.
Participants are to find and fix bugs in five smart contracts while getting acquainted with FunC, the programming language built for TON.
This competition is a great starting point for newcomers because they’ll have a chance to make a name for themselves, learn how to work with smart contracts on TON, and possibly win a prize.
You can find more details and the contest’s conditions here: https://ton.org/contest
Today, the TON Foundation is kicking off the TON Smart Challenge, a big competition for developers with a total prize pool of 17,777 Toncoin.
Participants are to find and fix bugs in five smart contracts while getting acquainted with FunC, the programming language built for TON.
This competition is a great starting point for newcomers because they’ll have a chance to make a name for themselves, learn how to work with smart contracts on TON, and possibly win a prize.
You can find more details and the contest’s conditions here: https://ton.org/contest
Gaming on TON
The developers at the TON Foundation have published material detailing the unique possibilities of TON NFTs, thanks to which The Open Network has the opportunity to become a next-generation platform for a new kind of decentralized games.
To learn more about the potential of blockchain-based gaming in the TON ecosystem, you can read this article.
The article’s content will be equally interesting for game developers and regular gamers.
The developers at the TON Foundation have published material detailing the unique possibilities of TON NFTs, thanks to which The Open Network has the opportunity to become a next-generation platform for a new kind of decentralized games.
To learn more about the potential of blockchain-based gaming in the TON ecosystem, you can read this article.
The article’s content will be equally interesting for game developers and regular gamers.
Toncoin farming on decentralized exchange Biswap
As we’ve said in a previous post, Biswap, one of the biggest DEXs in the world, has launched a Toncoin farming service.
In light of this, we’ve put together a step-by-step guide specifically for our subscribers on how to farm Toncoin on the Biswap decentralized exchange.
The step-by-step guide is available here:
https://telegra.ph/Farming-Toncoin-on-the-Biswap-crypto-exchange-03-30
As we’ve said in a previous post, Biswap, one of the biggest DEXs in the world, has launched a Toncoin farming service.
In light of this, we’ve put together a step-by-step guide specifically for our subscribers on how to farm Toncoin on the Biswap decentralized exchange.
The step-by-step guide is available here:
https://telegra.ph/Farming-Toncoin-on-the-Biswap-crypto-exchange-03-30
How to send Toncoin to other blockchain networks
Lately, the demand for Wrapped Toncoin on Ethereum and BNB Chain has dramatically increased for two main reasons.
The first reason is that users are starting to use decentralized exchanges more often because this way of buying and trading Toncoin is convenient.
The next reason is the emergence of DeFi-based instruments on Ethereum and BNB Chain, which offer Toncoin holders additional ways to invest their tokens.
We’ve put together a guide explaining how to transfer Toncoin to another network using cross-chain bridges.
The guide is available here: https://telegra.ph/How-to-send-Toncoin-to-other-blockchain-networks-03-31
Lately, the demand for Wrapped Toncoin on Ethereum and BNB Chain has dramatically increased for two main reasons.
The first reason is that users are starting to use decentralized exchanges more often because this way of buying and trading Toncoin is convenient.
The next reason is the emergence of DeFi-based instruments on Ethereum and BNB Chain, which offer Toncoin holders additional ways to invest their tokens.
We’ve put together a guide explaining how to transfer Toncoin to another network using cross-chain bridges.
The guide is available here: https://telegra.ph/How-to-send-Toncoin-to-other-blockchain-networks-03-31
What is Wrapped Toncoin?
We often mention “Wrapped Toncoin” in our content, but we’ve never explained what it is.
In this informative post, we’ll tell what wrapped tokens are and why we need them.
So, what is it?
In simple terms, a wrapped token is a token that is transferred from one blockchain to another.
Let’s use an example:
With the TON–BNB Chain cross-chain bridge, you can send your Toncoin to BNB Chain and use it with the network’s native services and apps.
More specifically, the transaction goes through a mint-and-burn process. If you send 10 Toncoin, the TON blockchain will block and remove 10 “native” coins from circulation. Then, BNB Chain will mint 10 equivalent tokens.
On BNB Chain, your coins will be called Toncoin BEP-20 (the BNB Chain token standard), and they’ll be entirely analogous to your native Toncoin. This is what we call wrapped tokens.
You can transfer your crypto back anytime, and 1 Toncoin BEP-20 will always be equal to 1 Toncoin.
Why do we need wrapped tokens?
Wrapped tokens are needed to simplify inter-blockchain interactions. Below are a few excellent examples of Wrapped Toncoin use cases:
— You can transfer it to another blockchain to use with its native services and apps.
— You can become a pool liquidity provider on Uniswap on the Ethereum network and PancakeSwap on BNB Chain, two popular decentralized exchanges on their respective networks.
— You can store your Wrapped Toncoin in the popular crypto wallet MetaMask.
Currently, there are two cross-chain bridges with the TON blockchain:
— TON–Ethereum
— TON–BNB Chain
In the crypto world, both regular users and blockchain developers actively transact with wrapped tokens.
As The Open Network grows in popularity, Wrapped Toncoin will only see more new use cases.
We often mention “Wrapped Toncoin” in our content, but we’ve never explained what it is.
In this informative post, we’ll tell what wrapped tokens are and why we need them.
So, what is it?
In simple terms, a wrapped token is a token that is transferred from one blockchain to another.
Let’s use an example:
With the TON–BNB Chain cross-chain bridge, you can send your Toncoin to BNB Chain and use it with the network’s native services and apps.
More specifically, the transaction goes through a mint-and-burn process. If you send 10 Toncoin, the TON blockchain will block and remove 10 “native” coins from circulation. Then, BNB Chain will mint 10 equivalent tokens.
On BNB Chain, your coins will be called Toncoin BEP-20 (the BNB Chain token standard), and they’ll be entirely analogous to your native Toncoin. This is what we call wrapped tokens.
You can transfer your crypto back anytime, and 1 Toncoin BEP-20 will always be equal to 1 Toncoin.
Why do we need wrapped tokens?
Wrapped tokens are needed to simplify inter-blockchain interactions. Below are a few excellent examples of Wrapped Toncoin use cases:
— You can transfer it to another blockchain to use with its native services and apps.
— You can become a pool liquidity provider on Uniswap on the Ethereum network and PancakeSwap on BNB Chain, two popular decentralized exchanges on their respective networks.
— You can store your Wrapped Toncoin in the popular crypto wallet MetaMask.
Currently, there are two cross-chain bridges with the TON blockchain:
— TON–Ethereum
— TON–BNB Chain
In the crypto world, both regular users and blockchain developers actively transact with wrapped tokens.
As The Open Network grows in popularity, Wrapped Toncoin will only see more new use cases.
TON DeFi
It’s a great pleasure to announce that TON Foundation developers have completed and published TON DeFi standards and their smart contract drafts.
This means that from now on, blockchain developers will be able to create TON-based scalable DeFi services and apps, which will have the capacity to take on a practically unlimited number of users.
There are already over 100 NFT projects, a few marketplaces and launchpads, and even some decentralized exchanges are in the works for the TON ecosystem. We’re expecting these services to launch on the network soon.
The TON Foundation has done some masterful work and created an entirely new approach to tokenization and decentralized finance that stands out among other projects.
We owe it all to the community and are excited for the first DeFi service based on the TON blockchain.
You can learn more about the TON DeFi architecture here:
https://telegra.ph/Scalable-DeFi-in-TON-03-30
It’s a great pleasure to announce that TON Foundation developers have completed and published TON DeFi standards and their smart contract drafts.
This means that from now on, blockchain developers will be able to create TON-based scalable DeFi services and apps, which will have the capacity to take on a practically unlimited number of users.
There are already over 100 NFT projects, a few marketplaces and launchpads, and even some decentralized exchanges are in the works for the TON ecosystem. We’re expecting these services to launch on the network soon.
The TON Foundation has done some masterful work and created an entirely new approach to tokenization and decentralized finance that stands out among other projects.
We owe it all to the community and are excited for the first DeFi service based on the TON blockchain.
You can learn more about the TON DeFi architecture here:
https://telegra.ph/Scalable-DeFi-in-TON-03-30
TON Developer Program
As most of you already know, at the beginning of this year, the TON Foundation amended the roadmap of the TON project and reprioritized specific directions of development for the blockchain.
The TON Developer Program, a program of developer support, was named one of the top key components of the network, and in Q1 2022, it was given special attention.
Two days ago, the TON Foundation published a detailed report on what the TON Developer Program has accomplished since the beginning of the year. So, we’d like to share some of the main developments with you.
What has been done thus far:
— The API and SDK were significantly improved.
— TON’s documentation was updated.
— New explorers were launched.
— Many instruments for developers were significantly improved — e.g., MyLocalTON.
— A lineup of absolutely new and outstanding instruments launched, including toncli and IDEA Plugin, which were created by the community of developers.
— The procedure to add services to the TON Apps suite was greatly simplified.
— A lot of work was done on the TON Wallet extension for the Chrome browser, one of the main ways to interact with dApps.
— Tonic, an independent platform for developers in the TON ecosystem where it often hosts AMA sessions, launched.
— A lot of time and energy was spent on competitions for developers where tens of thousands participated. The TON Smart Challenge is live, a large competition event with a total prize fund of 17,777 Toncoin.
Moreover, the TON Foundation has emphasized that developers and creators of products will always be a high priority for The Open Network.
We’re always happy to welcome new teams to the TON ecosystem and wish everyone the best.
As most of you already know, at the beginning of this year, the TON Foundation amended the roadmap of the TON project and reprioritized specific directions of development for the blockchain.
The TON Developer Program, a program of developer support, was named one of the top key components of the network, and in Q1 2022, it was given special attention.
Two days ago, the TON Foundation published a detailed report on what the TON Developer Program has accomplished since the beginning of the year. So, we’d like to share some of the main developments with you.
What has been done thus far:
— The API and SDK were significantly improved.
— TON’s documentation was updated.
— New explorers were launched.
— Many instruments for developers were significantly improved — e.g., MyLocalTON.
— A lineup of absolutely new and outstanding instruments launched, including toncli and IDEA Plugin, which were created by the community of developers.
— The procedure to add services to the TON Apps suite was greatly simplified.
— A lot of work was done on the TON Wallet extension for the Chrome browser, one of the main ways to interact with dApps.
— Tonic, an independent platform for developers in the TON ecosystem where it often hosts AMA sessions, launched.
— A lot of time and energy was spent on competitions for developers where tens of thousands participated. The TON Smart Challenge is live, a large competition event with a total prize fund of 17,777 Toncoin.
Moreover, the TON Foundation has emphasized that developers and creators of products will always be a high priority for The Open Network.
We’re always happy to welcome new teams to the TON ecosystem and wish everyone the best.
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TON Community
Updates to TON’s roadmap.
Due to unprecedented growth in Q4, 2021, developers at the TON Foundation have had to update the project’s roadmap and reprioritize a few goals.
In Q4, 2021, the TON Foundation launched its decentralized subscription service…
Due to unprecedented growth in Q4, 2021, developers at the TON Foundation have had to update the project’s roadmap and reprioritize a few goals.
In Q4, 2021, the TON Foundation launched its decentralized subscription service…
An overview of some of the dApps on TON
With TON’s infinite scalability, speed, and security, there are many reasons why developers would choose TON blockchain as the ideal layer-1 network to build upon.
Here are some of the creative applications built by our community:
• Tonkeeper is a mobile application that allows users to securely store Toncoin. It even integrates with Uniswap, allowing users to trade Toncoin from their phones.
• TonMoon is a bot that tracks the price of Toncoin on a variety of exchanges, allowing users to find the most beneficial buy and sell opportunities.
• A number of NFTs have also been created on TON, including TonAirplane, sporting the classic Telegram paper plane logo, and TON Diamonds, 10,000 NFTs of TON-logo-inspired diamonds in a variety of shapes and sizes.
• It is the creativity of our community that will assure our future success. We invite all developers to test out the TON ecosystem for their next project, participate in some of our contests, and help us build the future.
What kind of dApp would you like to see on TON?
With TON’s infinite scalability, speed, and security, there are many reasons why developers would choose TON blockchain as the ideal layer-1 network to build upon.
Here are some of the creative applications built by our community:
• Tonkeeper is a mobile application that allows users to securely store Toncoin. It even integrates with Uniswap, allowing users to trade Toncoin from their phones.
• TonMoon is a bot that tracks the price of Toncoin on a variety of exchanges, allowing users to find the most beneficial buy and sell opportunities.
• A number of NFTs have also been created on TON, including TonAirplane, sporting the classic Telegram paper plane logo, and TON Diamonds, 10,000 NFTs of TON-logo-inspired diamonds in a variety of shapes and sizes.
• It is the creativity of our community that will assure our future success. We invite all developers to test out the TON ecosystem for their next project, participate in some of our contests, and help us build the future.
What kind of dApp would you like to see on TON?
TON Community Weekly Digest
Here’s a roundup of the ecosystem’s most exciting news from the past seven days.
Network stats update:
— The number of new accounts created on TON from March 27 to April 2 grew from 373,718 to 382,799 (+2.4%).
News:
— The TON Smart Challenge kicked off, a competition for developers with a total prize pool of 17,777 Toncoin.
— We published a guide on Toncoin farming on the Biswap crypto exchange.
— TON Foundation developers completed a handful of TON DeFi standards, including Jetton, NFTRoyalty, NFTData, and the standard for NFTs.
— The TON Foundation published a report covering the work of the TON Developers Program for Q1 2022.
Stay up-to-date with the latest developments brewing in the TON ecosystem by turning on the notifications to this channel. You won’t want to miss a thing!
Here’s a roundup of the ecosystem’s most exciting news from the past seven days.
Network stats update:
— The number of new accounts created on TON from March 27 to April 2 grew from 373,718 to 382,799 (+2.4%).
News:
— The TON Smart Challenge kicked off, a competition for developers with a total prize pool of 17,777 Toncoin.
— We published a guide on Toncoin farming on the Biswap crypto exchange.
— TON Foundation developers completed a handful of TON DeFi standards, including Jetton, NFTRoyalty, NFTData, and the standard for NFTs.
— The TON Foundation published a report covering the work of the TON Developers Program for Q1 2022.
Stay up-to-date with the latest developments brewing in the TON ecosystem by turning on the notifications to this channel. You won’t want to miss a thing!