- Projects will get from $50,000 to $250,000 from the $250 million Toncoin Fund.
- The program will help by offering guidance and support from big companies for different projects.
- The TON Accelerator Program will get money from the $250 million TONcoin Fund.
The TON Foundation, the group that created the TON blockchain, is offering a new program to help new projects by giving them $25 million.
The TON Accelerator Program will give money, guidance, and other help to projects that are part of the TON ecosystem.
TON is a blockchain network made by a community. It uses Telegram’s technology and has its own digital money called Toncoin (TON).
TON will give as much as $250,000 to every project.
The TON Accelerator Program is for different projects. Some teams will get $50,000 to $250,000 in funding. TON is especially interested in projects in the DeFi space, as revealed on Monday.
The program will get money from the TONcoin Fund. It’s a $250 million fund to help developers and founders who want to make projects on TON.
#TONcoinFund’s $250M commitment will boost key projects, focusing on #DeFi.
Offering $50-250k per project plus mentorship via partners like #Gotbit, #Web3Port, #Tonstarter, #TEB, #CypherCapital. Excited to expand with more partners, drive #Web3 innovation, and attract global… pic.twitter.com/QHYvKHtT9S
— TON 💎 (@ton_blockchain) May 22, 2023
Projects will get help from top partners and investors in the TON community. These will include hedge fund and AI-powered market maker GotBit Markets; Web3-focused innovation platform Web3Port; and Tonstarter, the leading fundraising platform on TON. Simplified: This will include a hedge fund and AI-powered market maker called GotBit Markets; a Web3-focused innovation platform called Web3Port; and Tonstarter, the top fundraising platform on TON.
Additionally, the program will involve Boom Labs, a technology company in South Korea, and Cypher Capital Group, a company in the United Arab Emirates that invests in cryptocurrency.
Justin Hyun, who leads the Incubation and Growth department at TON Foundation, is very happy about the start of the accelerator program. He said that the money is an important part of their plan to make sure the company grows.
“This is the start of many incubators that will get help in the future. ” “Funding is part of our plan to expand our local hubs, and we want to bring in new developers and experienced founders from different parts of the world,” Hyun explained.
Projects that will be considered for the first round of selection are the ones that took part in the Hack-a-TONx DoraHacks hackathon. The online competition lasted for two months and included DoraHacks, which is a top hacker group.
The TON Foundation is taking applications for funding from projects that are ready to be launched. If you have a project with a sample or an early version and need help with the technical side, you should apply for a grant to get started.