The TON accelerator program fund, which amounts to $25 million, has welcomed DWF Labs as its newest participant.
DWF Labs, a division of Digital Wave Finance, one of the top 5 trading firms in the cryptocurrency market in terms of volume, aims to support the TON ecosystem by providing liquidity, market making, and tokenomics.
On June 14, they announced this addition to the accelerator program. DWF Labs will contribute to the TON ecosystem by offering investment tickets and other services.
TON and DWF Labs expect the partnership to strengthen the DeFi infrastructure on TON. DWF Labs has previously shown support for initiatives within the TON network through investments.
The Open Network (TON) launched the TON accelerator program on May 22. Telegram initially designed TON as a layer-1 blockchain. The program aims to promote initiatives within the TON ecosystem by providing investments ranging from $50,000 to $250,000 for each industry.
Additionally, the program offers partnerships and mentorships facilitated by TON’s employees. Justin Hyun, the director of incubation and growth at the TON Foundation, expressed optimism about the future of the DeFi ecosystem on TON.
He emphasized that as the user base grows, DWF Labs recognizes the significant potential in the TON ecosystem. By supporting tokenomics and market making, DWF Labs aims to enhance liquidity across DeFi protocols and contribute to the industry’s overall growth and success rather than competing with other chains.
Since 2020, TON has evolved into a community-led, open-source project. It has drawn attention for its architecture, which enables significant scalability and processing capacity.
Capable of handling millions of transactions per second, this architecture has sparked adoption commitments from nations like Cameroon and the Democratic Republic of the Congo.
