Tonstarter Raises $1.5 Million to Support TON Ecosystem Projects

• The TON Foundation, a non-profit association of developers and enthusiasts that exists to advance The Open Network (TON), has today announced that Tonstarter, the primary fundraising platform on TON, has closed a seed round of $1.5 million.
• Tonstarter is incubated by First Stage Labs and will support myriad projects on TON such as DeFi, DEXs, non-custodial wallets, lending and borrowing protocols, gaming and the metaverse.
• Projects incubated by Tonstarter will have access to the Telegram App’s 700 million user base giving them access to Web3 services such as non-custodial wallets and DEXs.

Tonstarter Closes $1.5 Million Seed Round

The TON Foundation, a non-profit association of developers and enthusiasts that exists to advance The Open Network (TON), has today announced that Tonstarter, the primary fundraising platform on TON, has closed a seed round of $1.5 million.

Tonstart Incubation

Tonstart is incubated by First Stage Labs, a TON ecosystem venture builder with advisors such as Tal Kol, TON Ambassador and founder of Orbs; Justin Hyun – Head of Incubation at TON Foundation; Kingsway Capital – an investment management firm; Gate.io – cryptocurrency exchange; DWF Labs – subsidiary of Digital Wave Finance (DWF) which is one of the world’s fastest growing high frequency cryptocurrency trading entities.

Projects Supported By Tonstart

The fundraising platform will support a variety of projects across the TON ecosystem in sectors such as decentralized finance (DeFi), decentralized exchanges (DEXs), non-custodial wallets, lending & borrowing protocols , gaming & the metaverse .

Access To Telegram User Base

Projects incubated by Tonstart will have access to Telegram App’s 700 million user base giving them access to Web3 services such as non-custodial wallets & DEXs . This creates huge potential for projects incubated by Tonstarter according to Alex Plotvinov , Founder at Tonstarter .

Conclusion

With this seed funding from multiple investors , it is expected that many amazing projects within the TON ecosystem can be nourished & supported through Tonstart & its associated services .