{"id":66072,"date":"2023-12-01T11:08:48","date_gmt":"2023-12-01T15:08:48","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=66072"},"modified":"2023-12-01T11:08:51","modified_gmt":"2023-12-01T15:08:51","slug":"kucoin-ventures-supports-ton-foundation-with-20k-grant","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/kucoin-ventures-supports-ton-foundation-with-20k-grant\/","title":{"rendered":"KuCoin Ventures Supports TON Foundation with $20K Grant"},"content":{"rendered":"\n

In support of the expansion and development of the TON ecosystem<\/a>, KuCoin Ventures will provide grants to The Open Network (TON) blockchain platform, including an initial $20,000 contribution.<\/p>\n\n\n\n

\"KuCoin
KuCoin Ventures Supports TON Foundation with $20K Grant <\/figcaption><\/figure>\n\n\n\n

The funding will assist with community-building, marketing endeavors, incubation programs, and TON ecosystem projects, including five payments or game finance (GameFi) platforms, research and development, and community-building\u2014a statement issued on December 1 further details the project support.<\/p>\n\n\n\n

The accelerator director at TON Foundation, Ian Wittkopp, stated that the grants from KuCoin enable the organization to continue supporting blockchain solutions<\/a> in payments and gaming within its ecosystem. He said :<\/p>\n\n\n\n

\n

\u201cToday\u2019s partnership with KuCoin Ventures is an acceleration point in the momentum of mini-app development on the The Open Network\u2026 KuCoin Ventures\u2019 efforts align with TON\u2019s vision of a more accessible and decentralized digital future for everyone.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

The company's confidence in TON's potential within the blockchain industry, according to Alicia Kao, managing director of KuCoin, was the reason for the transition. She further stated:<\/p>\n\n\n\n

\n

\u201cThis strategic alliance aligns with our mission of promoting further development of the crypto and blockchain industry through tighter cooperation.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

“We believe this establishes a novel collaboration between exchanges and the blockchain environment,” she continued. “We hope that this joint effort will function as an inspiration, stimulating additional endeavors of a similar nature.”<\/p>\n\n\n\n

According to a KuCoin representative who spoke with Cointelegraph, the partnership is in its infancy. They declared:<\/p>\n\n\n\n

\u201c<\/strong>This partnership is just the beginning. We plan to leverage this collaboration for deeper cooperation and communication\u2026 We are making all the necessary preparations for this\u2026 collaboration.\u201d<\/em><\/p>\n\n\n\n

KuCoin endeavors to emulate its achievements through additional blockchain collaborations and promote the growth of the TON ecosystem to “ease the transition of cryptocurrency from a niche interest to widespread adoption.”<\/p>\n\n\n\n

According to its website, KuCoin Ventures has invested in various decentralized finance (DeFi) lending protocols<\/a>, nonfungible token (NFT) platforms OVO and POKT, and decentralized infrastructure POKT.<\/p>\n\n\n\n

In March, KuCoin Ventures led a $10 million investment in CNHC, a provider of blockchain-based payment services and issuer of stablecoins. Justin Chou, the head of KuCoin Ventures and chief investment officer of KuCoin at the time, told Cointelegraph in a statement that the venture arm had never before invested in a stablecoin-related initiative before the investment in CNHC.<\/p>\n\n\n\n

Additionally, TON has been actively forming alliances with other crypto actors as of late. To support the platform's expansion, the company disclosed on October 4 that it had secured an eight-figure investment from MEXC Ventures, a subsidiary of the global cryptocurrency exchange MEXC\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

In November, Web3 investment firm Animoca Brands became the largest validator on the blockchain platform. The announcement states that the company, co-founded by Yat Sui, intends to provide Telegram with blockchain-based games.<\/p>\n","protected":false},"excerpt":{"rendered":"

In support of the expansion and development of the TON ecosystem, KuCoin Ventures will provide grants to The Open Network (TON) blockchain platform, including an initial $20,000 contribution. The funding will assist with community-building, marketing endeavors, incubation programs, and TON ecosystem projects, including five payments or game finance (GameFi) platforms, research and development, and community-building\u2014a […]<\/p>\n","protected":false},"author":12,"featured_media":66074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3878,9264,17442,16921],"class_list":["post-66072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-grant","tag-kucoin-ventures","tag-ton-ecosystem","tag-ton-foundation"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/12\/image-1.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=66072"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/66074"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=66072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=66072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=66072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}