What happens to the Toncoin from TON DNS auction sales?
The hype surrounding the TON DNS is still going strong. There are 3,787 open auctions for domain names, and the TON DNS auction’s total has surpassed a staggering 340,000 Toncoin.
Today, we want to answer one of the most-asked questions:
Who receives the Toncoin when someone buys a domain name?
Answer: These tokens are removed from circulation and frozen forever. You can see for yourselves by reading the TON DNS smart contract source code.
The TON DNS auction has a single mission: to distribute .ton domain names in a decentralized and fair manner for all participants.
The hype surrounding the TON DNS is still going strong. There are 3,787 open auctions for domain names, and the TON DNS auction’s total has surpassed a staggering 340,000 Toncoin.
Today, we want to answer one of the most-asked questions:
Who receives the Toncoin when someone buys a domain name?
Answer: These tokens are removed from circulation and frozen forever. You can see for yourselves by reading the TON DNS smart contract source code.
The TON DNS auction has a single mission: to distribute .ton domain names in a decentralized and fair manner for all participants.
NFT auctions on Getgems.
NFT marketplace Getgems has added a new functionality: Now, users of the platform can put their NFTs up for auction and engage in bidding for other NFTs.
Any NFT owner can open their asset for bidding by indicating the minimum and maximum bid prices, the duration of bidding, and a few other parameters.
Users can also connect their Telegram accounts to their Getgems portfolios to receive notifications about new bids.
You can find more details on NFT auctions on the official Getgems Telegram channel.
NFT marketplace Getgems has added a new functionality: Now, users of the platform can put their NFTs up for auction and engage in bidding for other NFTs.
Any NFT owner can open their asset for bidding by indicating the minimum and maximum bid prices, the duration of bidding, and a few other parameters.
Users can also connect their Telegram accounts to their Getgems portfolios to receive notifications about new bids.
You can find more details on NFT auctions on the official Getgems Telegram channel.
Why are TON DNS domains needed?
Today, we’d like to review some of the more practical use cases of .ton domain names.
A substitute for long crypto addresses.
The TON DNS component assigns a short human-readable name to absolutely any blockchain node, from a regular crypto wallet to a service’s smart contract.
Shortly, users are already going to start replacing long crypto wallet addresses with .ton names, and product developers will simplify client interactions by using domain names.
Now you can send Toncoin by entering a short name — e.g., user.ton — instead of a long address.
TON Sites and TON Proxy.
TON Sites and TON Proxy are technologies that cater to decentralized sites, the most important components of the Web3 internet, which will appear later this quarter.
TON DNS domains can be connected to sites based on The Open Network.
This will allow users to visit websites, such as site.ton, and reap the benefits of the decentralized internet. Moreover, surfing TON-based Web3 internet will be as easy and convenient as surfing the internet today.
TON DNS are NFTs.
Every .ton domain name is a real NFT. This means that domains can be stored in crypto wallets, bought and sold on marketplaces, and even put up for auction.
It’s worth noting that the TON blockchain is among the first to combine domain names with NFT technology.
The TON DNS auction is being held here:
https://dns.ton.org/
You can also get acquainted with our guide on how to buy a domain name and the auction’s rules.
Today, we’d like to review some of the more practical use cases of .ton domain names.
A substitute for long crypto addresses.
The TON DNS component assigns a short human-readable name to absolutely any blockchain node, from a regular crypto wallet to a service’s smart contract.
Shortly, users are already going to start replacing long crypto wallet addresses with .ton names, and product developers will simplify client interactions by using domain names.
Now you can send Toncoin by entering a short name — e.g., user.ton — instead of a long address.
TON Sites and TON Proxy.
TON Sites and TON Proxy are technologies that cater to decentralized sites, the most important components of the Web3 internet, which will appear later this quarter.
TON DNS domains can be connected to sites based on The Open Network.
This will allow users to visit websites, such as site.ton, and reap the benefits of the decentralized internet. Moreover, surfing TON-based Web3 internet will be as easy and convenient as surfing the internet today.
TON DNS are NFTs.
Every .ton domain name is a real NFT. This means that domains can be stored in crypto wallets, bought and sold on marketplaces, and even put up for auction.
It’s worth noting that the TON blockchain is among the first to combine domain names with NFT technology.
The TON DNS auction is being held here:
https://dns.ton.org/
You can also get acquainted with our guide on how to buy a domain name and the auction’s rules.
Fees for storing domain names and confirmation of ownership rights.
To store any NFT on The Open Network, users must pay an annual storage fee of 0.05 Toncoin. Because TON DNS names are NFTs, this rule also applies to them.
The fees are insignificant; however, failing to pay them may result in adverse technical consequences.
With users’ interests in mind, the TON Foundation made the decision to leave 1 Toncoin in each domain name’s smart contract to take care of the storage fee. This sum will suffice for the next 20 years.
Having received a TON DNS at auction, you won’t have to think about fees for the foreseeable future, but after 20 years, you’ll have to replenish the smart contract.
However, domain name owners are required to make a transaction to extend ownership rights.
Owners must send a small amount of Toncoin of their choice to the domain’s smart contract — e.g., 0.000000001 Toncoin — to extend ownership rights by 365 days.
This mechanism is in place so that domains whose owners have lost access to or interest in them can be put up for auction and transferred to a new owner.
The TON DNS auction is still underway, and it is open to anyone who wants to participate:
https://dns.ton.org
To store any NFT on The Open Network, users must pay an annual storage fee of 0.05 Toncoin. Because TON DNS names are NFTs, this rule also applies to them.
The fees are insignificant; however, failing to pay them may result in adverse technical consequences.
With users’ interests in mind, the TON Foundation made the decision to leave 1 Toncoin in each domain name’s smart contract to take care of the storage fee. This sum will suffice for the next 20 years.
Having received a TON DNS at auction, you won’t have to think about fees for the foreseeable future, but after 20 years, you’ll have to replenish the smart contract.
However, domain name owners are required to make a transaction to extend ownership rights.
Owners must send a small amount of Toncoin of their choice to the domain’s smart contract — e.g., 0.000000001 Toncoin — to extend ownership rights by 365 days.
This mechanism is in place so that domains whose owners have lost access to or interest in them can be put up for auction and transferred to a new owner.
The TON DNS auction is still underway, and it is open to anyone who wants to participate:
https://dns.ton.org
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VIEW IN TELEGRAM
Introducing Connecton, a VPN service based on Wireguard that accepts Toncoin as the exclusive means of payments.
Connecton is a VPN service that allows you to protect your privacy on the internet and surf the web with speed and safety.
With this VPN, you can encrypt the data you send or receive over the internet and hide your IP to protect yourself from people trying to intercept your connection.
And you get all of this by simply paying in Toncoin through a bot in Telegram.
With various locations around the world, you can stay safe and surf the internet in total freedom and anonymity.
Stay connected, stay safe, stay free.
Connecton is a VPN service that allows you to protect your privacy on the internet and surf the web with speed and safety.
With this VPN, you can encrypt the data you send or receive over the internet and hide your IP to protect yourself from people trying to intercept your connection.
And you get all of this by simply paying in Toncoin through a bot in Telegram.
With various locations around the world, you can stay safe and surf the internet in total freedom and anonymity.
Stay connected, stay safe, stay free.
TON Smart Challenge #2 has begun!
Today, the TON Smart Challenge #2 kicked off. The competition is for programmers and has a total prize pool of 16,000 Toncoin.
Contest participants are to solve five simple tasks.
The competition will run until Aug. 11, but it’s still accepting late registrations. The TON Foundation invites all programming specialists to compete at the TON Smart Challenge #2.
You can find all the necessary information here and on the TON Contests Telegram channel.
Good luck to all participants!
Today, the TON Smart Challenge #2 kicked off. The competition is for programmers and has a total prize pool of 16,000 Toncoin.
Contest participants are to solve five simple tasks.
The competition will run until Aug. 11, but it’s still accepting late registrations. The TON Foundation invites all programming specialists to compete at the TON Smart Challenge #2.
You can find all the necessary information here and on the TON Contests Telegram channel.
Good luck to all participants!
Services that simplify the TON DNS auction process.
Over the past week, many development teams from the TON ecosystem have unveiled their programs and utilities for a streamlined experience with TON DNS auctions.
Today, we’re going to tell you about a few of these services, which you can start using right now.
AnalytEx Bot.
This convenient service allows users to interact with the auction directly within Telegram.
You can use this bot to follow bids on domain names and view ended auctions, and in the future, the bot will display domain names you’ve bought.
The service also provides some statistics on the auction, showing the top 10 most popular names and the number of open auctions.
TON Scan.
With this mobile explorer, users can subscribe to any domain name and receive push notifications on their cell phones whenever a bid is placed.
TON DNS Monitoring.
This bot allows you to subscribe to a domain name and receive notifications about any activity surrounding the domain name right in Telegram.
You can also receive notifications for bids placed on domain names of a specific character count. The bot will notify you whenever someone bids on a name of, say, four characters.
TON DNS Tracker.
We’ve already told you about this service. DNS Tracker posts every bid from the auction in real-time.
Reminder: In two days, a few thousand domain name auctions will close.
To participate in an auction, the only place to do so is here:
https://dns.ton.org/
Over the past week, many development teams from the TON ecosystem have unveiled their programs and utilities for a streamlined experience with TON DNS auctions.
Today, we’re going to tell you about a few of these services, which you can start using right now.
AnalytEx Bot.
This convenient service allows users to interact with the auction directly within Telegram.
You can use this bot to follow bids on domain names and view ended auctions, and in the future, the bot will display domain names you’ve bought.
The service also provides some statistics on the auction, showing the top 10 most popular names and the number of open auctions.
TON Scan.
With this mobile explorer, users can subscribe to any domain name and receive push notifications on their cell phones whenever a bid is placed.
TON DNS Monitoring.
This bot allows you to subscribe to a domain name and receive notifications about any activity surrounding the domain name right in Telegram.
You can also receive notifications for bids placed on domain names of a specific character count. The bot will notify you whenever someone bids on a name of, say, four characters.
TON DNS Tracker.
We’ve already told you about this service. DNS Tracker posts every bid from the auction in real-time.
Reminder: In two days, a few thousand domain name auctions will close.
To participate in an auction, the only place to do so is here:
https://dns.ton.org/
The first TON DNS auctions are closing in 13 hours.
The standard duration of each auction last seven days; however, if a bid comes in within one hour before the deadline, the auction will be extended.
In other words, the bidding wars are going to die down, and a few thousand .ton domain names will have new owners.
There’s still time to start participating in auctions.
We recommend studying the auction’s rules and this guide.
The auction is being held here:
https://dns.ton.org/
We’re also going to publish a guide on how to assign your TON-based wallet to your domain name and how to enter to win one.
The standard duration of each auction last seven days; however, if a bid comes in within one hour before the deadline, the auction will be extended.
In other words, the bidding wars are going to die down, and a few thousand .ton domain names will have new owners.
There’s still time to start participating in auctions.
We recommend studying the auction’s rules and this guide.
The auction is being held here:
https://dns.ton.org/
We’re also going to publish a guide on how to assign your TON-based wallet to your domain name and how to enter to win one.
The casino.ton domain name sold for 200,000 Toncoin.
So far, this is the most expensive TON DNS domain sold, and it went to the owner of this wallet: EQD6fTcHIiRAeMyW3Smg28JGBWOVBKnbD_oIdX5ShsPhqFRt
Congratulations to the buyer!
So far, this is the most expensive TON DNS domain sold, and it went to the owner of this wallet: EQD6fTcHIiRAeMyW3Smg28JGBWOVBKnbD_oIdX5ShsPhqFRt
Congratulations to the buyer!
How do I claim my domain name from the TON DNS auction, and how do I assign it to my wallet?
We’ve put together a guide for new TON DNS owners that explains what to next: where to store the domain and how to use it.
You can find the guide here:
https://telegra.ph/How-to-claim-your-TON-domain-from-the-auction-and-assign-a-TON-crypto-wallet-to-it-08-06
We’ve put together a guide for new TON DNS owners that explains what to next: where to store the domain and how to use it.
You can find the guide here:
https://telegra.ph/How-to-claim-your-TON-domain-from-the-auction-and-assign-a-TON-crypto-wallet-to-it-08-06
Over 2,000 .ton domain names have found new owners.
We want to share with you today some results from the first week of the TON DNS auction.
After one week, there are 7,957 open auctions for domain names, 2,184 of which have been bought for a total of 2,392,002 Toncoin.
The domain name wallet.ton is the most expensive yet, fetching a cool 215,250 Toncoin. Right behind it are casino.ton and bank.ton, which sold for 200,000 and 157,500 Toncoin, respectively.
The general TON DNS auction will always be open, and you can place bids on a domain name anytime. However, the majority of high-demand domain names will be bought shortly.
The auction is being held here:
https://dns.ton.org/
If you’ve won an auction, please read this guide to learn how to claim your domain from the auction and how to assign it to your TON wallet.
We want to share with you today some results from the first week of the TON DNS auction.
After one week, there are 7,957 open auctions for domain names, 2,184 of which have been bought for a total of 2,392,002 Toncoin.
The domain name wallet.ton is the most expensive yet, fetching a cool 215,250 Toncoin. Right behind it are casino.ton and bank.ton, which sold for 200,000 and 157,500 Toncoin, respectively.
The general TON DNS auction will always be open, and you can place bids on a domain name anytime. However, the majority of high-demand domain names will be bought shortly.
The auction is being held here:
https://dns.ton.org/
If you’ve won an auction, please read this guide to learn how to claim your domain from the auction and how to assign it to your TON wallet.
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 July 31 to Aug. 6 grew from 1,070,999 to 1,103,173 (+3%).
News:
▪️ The TON DNS auction is still underway.
▪️ We published a list of services that simplify the TON DNS auction process.
▪️ We also published a guide for new TON DNS owners on how to claim domains from the auction and how to assign them to a TON wallet.
▪️ The TON Smart Challenge #2 competition for programmers with a prize pool of 16,000 Toncoin kicked off.
▪️ NFT marketplace Getgems launched its auctions functionality. Now users can put their NFTs up for auction and participate in bidding for others.
▪️ A new VPN service launched in the TON ecosystem called Connecton, which accepts payments in Toncoin.
▪️The Tonstarter launchpad substantially increased the rewards for its Ambassador Program, which pays people in Toncoin to create content covering the project.
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 July 31 to Aug. 6 grew from 1,070,999 to 1,103,173 (+3%).
News:
▪️ The TON DNS auction is still underway.
▪️ We published a list of services that simplify the TON DNS auction process.
▪️ We also published a guide for new TON DNS owners on how to claim domains from the auction and how to assign them to a TON wallet.
▪️ The TON Smart Challenge #2 competition for programmers with a prize pool of 16,000 Toncoin kicked off.
▪️ NFT marketplace Getgems launched its auctions functionality. Now users can put their NFTs up for auction and participate in bidding for others.
▪️ A new VPN service launched in the TON ecosystem called Connecton, which accepts payments in Toncoin.
▪️The Tonstarter launchpad substantially increased the rewards for its Ambassador Program, which pays people in Toncoin to create content covering the project.
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!
TON’s crosschain technology.
One of the TON blockchain’s primary missions is to unite all blockchains and the internet into one network.
Today, we’re going to tell you about what The Open Network has accomplished on the road to this grand plan and what future releases it has in store.
TON Sites & TON Proxy.
By the end of this quarter, the TON Sites and TON Proxy components will have launched, and new technology allowing the TON blockchain’s smart contracts to communicate with websites will grace the network.
Crosschain NFT transfers.
This past spring, we introduced you to the XP.Network’s bridge, which will enable NFT transfers to and from Ethereum, Polygon, BNB Chain, Tron, Tezos, Elrond, Algorand, and The Open Network.
We’re pleased to announce that developers at XP.Network are in the final stages of the project and that the bridge will launch shortly.
Support for Ethereum- and BNB Chain-based cryptocurrencies on TON.
The RSquad team has been working on a huge project lately. The team’s devs are creating a bridge letting users send tokens from Ethereum and BNB Chain to TON and vice versa.
This means that TON users will be able to store any token based on the two blockchains in TON crypto wallets — e.g., ETH, USDT, BNB, SUSHI, and many others — and they’ll also have the opportunity to trade them on DEXs on TON.
The bridge will launch this quarter.
Rainbow bridge with Ethereum Virtual Machine-compatible blockchains (Ethereum, BNB Chain, and more).
Currently, crosschain bridges are managed by decentralized oracles acting as an intermediary.
This characteristic is universally accepted; it’s a rather secure and stable solution. However, the TON Foundation intends to develop these bridges to the point where they solely rely on smart contracts to eliminate the dependency on intermediaries completely.
To make this goal come to fruition, blockchain developers from the TON Foundation and RSquad have been collaborating to optimize the bridge’s code.
The scale of this project is immense, so the Rainbow bridge’s launch date is scheduled for some time in 2023. Until then, the developers will be releasing updates, code, and tools intermittently.
TON Bridge update.
As you’re already aware, two crosschain bridges with the Ethereum and BNB Chain networks have been operating for over a year, allowing users to transfer their Toncoin among the three blockchains.
Users can expect the interface of the bridges to receive an update shortly: They’ll become even more convenient and user-friendly.
The third quarter of this year is shaping up to be very promising. Stay with us to get all the most important news and updates on The Open Network.
One of the TON blockchain’s primary missions is to unite all blockchains and the internet into one network.
Today, we’re going to tell you about what The Open Network has accomplished on the road to this grand plan and what future releases it has in store.
TON Sites & TON Proxy.
By the end of this quarter, the TON Sites and TON Proxy components will have launched, and new technology allowing the TON blockchain’s smart contracts to communicate with websites will grace the network.
Crosschain NFT transfers.
This past spring, we introduced you to the XP.Network’s bridge, which will enable NFT transfers to and from Ethereum, Polygon, BNB Chain, Tron, Tezos, Elrond, Algorand, and The Open Network.
We’re pleased to announce that developers at XP.Network are in the final stages of the project and that the bridge will launch shortly.
Support for Ethereum- and BNB Chain-based cryptocurrencies on TON.
The RSquad team has been working on a huge project lately. The team’s devs are creating a bridge letting users send tokens from Ethereum and BNB Chain to TON and vice versa.
This means that TON users will be able to store any token based on the two blockchains in TON crypto wallets — e.g., ETH, USDT, BNB, SUSHI, and many others — and they’ll also have the opportunity to trade them on DEXs on TON.
The bridge will launch this quarter.
Rainbow bridge with Ethereum Virtual Machine-compatible blockchains (Ethereum, BNB Chain, and more).
Currently, crosschain bridges are managed by decentralized oracles acting as an intermediary.
This characteristic is universally accepted; it’s a rather secure and stable solution. However, the TON Foundation intends to develop these bridges to the point where they solely rely on smart contracts to eliminate the dependency on intermediaries completely.
To make this goal come to fruition, blockchain developers from the TON Foundation and RSquad have been collaborating to optimize the bridge’s code.
The scale of this project is immense, so the Rainbow bridge’s launch date is scheduled for some time in 2023. Until then, the developers will be releasing updates, code, and tools intermittently.
TON Bridge update.
As you’re already aware, two crosschain bridges with the Ethereum and BNB Chain networks have been operating for over a year, allowing users to transfer their Toncoin among the three blockchains.
Users can expect the interface of the bridges to receive an update shortly: They’ll become even more convenient and user-friendly.
The third quarter of this year is shaping up to be very promising. Stay with us to get all the most important news and updates on The Open Network.
Forwarded from The Daily TON
Commissions on TON. Part 1
Recently, we’ve received a question from our subscriber desiring to know more about fees on TON. We thought it would be a great idea to look into this matter and create a couple of educational posts.
First, every TON user should keep in mind that commission depends on many factors. According to the docs, commissions on TON are calculated by this formula:
A full article is available by this link
Recently, we’ve received a question from our subscriber desiring to know more about fees on TON. We thought it would be a great idea to look into this matter and create a couple of educational posts.
First, every TON user should keep in mind that commission depends on many factors. According to the docs, commissions on TON are calculated by this formula:
transaction_fee = storage_fees + in_fwd_fees + computation_fees + action_fees + out_fwd_feesstorage_fees is an amount you pay for storing a smart-contract in the blockchain. In fact, you pay for every second the smart-contract is stored in the blockchain. Your TON wallet is also a smart-contract, which charges the rent every time you receive or send a transaction. in_fwd_fees is a charge for importing messages from outside the blockchain. Before processing any message, it must be delivered to the validators of the final shardchain. Every time you make a transaction it must be delivered to those validators who will process it. For example, each transaction you make with your wallet app (like Tonkeeper) must first be delivered among validation nodes.computation_fees is an amount you pay for executing code in the virtual machine. The virtual machine receives the input parameters from the sent message and executes the smart-contract code. The more instructions will be executed, the more commission will be. For example, each time you send any transaction with your wallet (which is a smart-contract), you execute the code of your wallet contract.action_fees is the fee for processing the list of actions received after the smart-contract code execution. With this process, outgoing messages are sent to other smart-contracts or other visible actions made in the blockchain.out_fwd_fees – stand for a charge for sending messages outside the TON Blockchain to interact with off-chain services (e.g., logs) and external blockchains. The charge goes to the validators of the final shardchains.A full article is available by this link
Introducing TonAPI, a public API to work with The Open Network.
TonAPI is a service that provides developers with a set of convenient and practical tools to interact with the TON blockchain, and it significantly reduces the barrier to entry for the development of decentralized applications based on TON.
Thanks to TonAPI, product creators no longer need expertise in understanding low-level operations. The service allows users to access high-level components, such as transactions, NFTs, tokens (Jettons), DNS, and more.
In the near future, TonAPI developers plan on integrating the service into all well-known crypto wallets, payments systems, and essential apps in the ecosystem.
Regular users may use TonAPI like a blockchain explorer with a wide range of functionalities — e.g., following transactions or TON DNS auctions.
We’re pleased to see such an effective development tool released in the ecosystem and wish the TonAPI team all the best.
TonAPI is a service that provides developers with a set of convenient and practical tools to interact with the TON blockchain, and it significantly reduces the barrier to entry for the development of decentralized applications based on TON.
Thanks to TonAPI, product creators no longer need expertise in understanding low-level operations. The service allows users to access high-level components, such as transactions, NFTs, tokens (Jettons), DNS, and more.
In the near future, TonAPI developers plan on integrating the service into all well-known crypto wallets, payments systems, and essential apps in the ecosystem.
Regular users may use TonAPI like a blockchain explorer with a wide range of functionalities — e.g., following transactions or TON DNS auctions.
We’re pleased to see such an effective development tool released in the ecosystem and wish the TonAPI team all the best.
Forwarded from The Daily TON
Spam transactions on TON
Unlike many other blockchains, TON is capable of performing thousands of transactions per second with meager fees. Despite this considerable advantage, it leads to a severe problem within the blockchain – spam attacks.
More likely, you've already seen these incoming transactions to your wallet saying: "Congratulations! Your wallet can become a validator. Send 50 or more TONs to…". Obviously, it's a scam, and under any circumstance, don't transfer your funds to such crypto scammers. Unfortunately, TON is an open network, and we cannot "turn off" the spam messages, so the only way not to get into trouble is to ignore them.
Luckily, some wallet apps, e.g., Tonhub, enrolled a new feature protecting crypto beginners against spam attacks. The app will hide all the comments in the transaction feed if the number of sent cryptocurrencies is under 0.1 TON.
Be cautious and do not land on the hands of scammers!
Unlike many other blockchains, TON is capable of performing thousands of transactions per second with meager fees. Despite this considerable advantage, it leads to a severe problem within the blockchain – spam attacks.
More likely, you've already seen these incoming transactions to your wallet saying: "Congratulations! Your wallet can become a validator. Send 50 or more TONs to…". Obviously, it's a scam, and under any circumstance, don't transfer your funds to such crypto scammers. Unfortunately, TON is an open network, and we cannot "turn off" the spam messages, so the only way not to get into trouble is to ignore them.
Luckily, some wallet apps, e.g., Tonhub, enrolled a new feature protecting crypto beginners against spam attacks. The app will hide all the comments in the transaction feed if the number of sent cryptocurrencies is under 0.1 TON.
Be cautious and do not land on the hands of scammers!
When we told you about TON’s crosschain capabilities a week ago, we mentioned that the TON Foundation is collaborating with RSquad on a scalable crosschain bridge allowing users to transfer tokens (Jettons) from Ethereum and BNB Chain to The Open Network and vice versa.
The launch of such a bridge is a monumental event because users will be able to store any cryptocurrency, including stablecoins, based on Ethereum and BNB Chain on TON and even trade them on DEXs.
The RSquad team has published an article explaining the project’s development, what tasks are left for the developers to tackle, and the significance of the crosschain bridge in the TON ecosystem.
You can read the article here.
RSquad is also working on the Rainbow bridge compatible with Ethereum Virtual Machine blockchains, which we mentioned not long ago.
RSquad Blockchain Lab is an experienced international team providing development and consulting services and promoting blockchain projects for more than seven years. It has provided consulting services for partners of 75 blockchain projects in 14 countries.
The launch of such a bridge is a monumental event because users will be able to store any cryptocurrency, including stablecoins, based on Ethereum and BNB Chain on TON and even trade them on DEXs.
The RSquad team has published an article explaining the project’s development, what tasks are left for the developers to tackle, and the significance of the crosschain bridge in the TON ecosystem.
You can read the article here.
RSquad is also working on the Rainbow bridge compatible with Ethereum Virtual Machine blockchains, which we mentioned not long ago.
RSquad Blockchain Lab is an experienced international team providing development and consulting services and promoting blockchain projects for more than seven years. It has provided consulting services for partners of 75 blockchain projects in 14 countries.
Forwarded from TON Society
Liquidity Award Program
*2-Week Open Period for Comments*
TON Society is announcing a $14M TON liquidity award program for teams deploying on TON and bringing users to increase the total value locked (TVL) in the ecosystem (e.g., bridge, DEX, etc.)
The liquidity award program is as follows:
- 6-month cliff and 12-month vesting
- Projects on a first-come, first-served basis will be able to unlock awards ranging from $150,000 TON to $3,500,000 TON. Total allotted is $14,000,000 TON (paid in TON).
This program will provide an attractive way for teams building bridges, DEXs, and other DeFi protocols on TON to engage in open and fair competition, instead of picking winners and losers in a crowded field of promising teams vying for TVL and users. This further demonstrates commitment to supporting teams that might not be willing to open-source their source code for commercial reasons.
As part of the draft proposal announcement (via TON Society GitHub), we are looking forward to comments/feedback/questions from teams via GitHub open issue. The open period will be active until 19 Aug. All relevant comments in the issues section will be answered and the program draft updated (as needed). The official start date of the program is to be determined.
See below for the link for more details:
https://github.com/ton-society/grants-program/blob/main/announcements/liquidity%20award%20program.md
We look forward to your comments on GitHub link above to make this program great for all the builders.
*2-Week Open Period for Comments*
TON Society is announcing a $14M TON liquidity award program for teams deploying on TON and bringing users to increase the total value locked (TVL) in the ecosystem (e.g., bridge, DEX, etc.)
The liquidity award program is as follows:
- 6-month cliff and 12-month vesting
- Projects on a first-come, first-served basis will be able to unlock awards ranging from $150,000 TON to $3,500,000 TON. Total allotted is $14,000,000 TON (paid in TON).
This program will provide an attractive way for teams building bridges, DEXs, and other DeFi protocols on TON to engage in open and fair competition, instead of picking winners and losers in a crowded field of promising teams vying for TVL and users. This further demonstrates commitment to supporting teams that might not be willing to open-source their source code for commercial reasons.
As part of the draft proposal announcement (via TON Society GitHub), we are looking forward to comments/feedback/questions from teams via GitHub open issue. The open period will be active until 19 Aug. All relevant comments in the issues section will be answered and the program draft updated (as needed). The official start date of the program is to be determined.
See below for the link for more details:
https://github.com/ton-society/grants-program/blob/main/announcements/liquidity%20award%20program.md
We look forward to your comments on GitHub link above to make this program great for all the builders.
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 Aug. 7 to 13 grew from 1,106,976 to 1,131,655 (+2.2%).
News:
▪️ We published a list of crosschain technologies slated to launch on TON.
▪️ The new TonAPI was released to have better interactions with The Open Network.
▪️ The dev team at Tegro TON continues the trial period for its DEX, TegroFinance, on the testnet and invites testers and technical specialists to participate in searching for vulnerabilities.
▪️ RSquad, which has been working in tandem with TON Foundation developers on a crosschain TON bridge, published an article detailing where the project lies in its development.
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 Aug. 7 to 13 grew from 1,106,976 to 1,131,655 (+2.2%).
News:
▪️ We published a list of crosschain technologies slated to launch on TON.
▪️ The new TonAPI was released to have better interactions with The Open Network.
▪️ The dev team at Tegro TON continues the trial period for its DEX, TegroFinance, on the testnet and invites testers and technical specialists to participate in searching for vulnerabilities.
▪️ RSquad, which has been working in tandem with TON Foundation developers on a crosschain TON bridge, published an article detailing where the project lies in its development.
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!
TON Society announces the TON Liquidity Award Program (LAP)
TON Society, a platform acting as a beacon where developers and funding come together to endorse and promote various projects on TON, has announced the TON Liquidity Award Program. The $14-million initiative (payable in TON) aims to attract projects to increase the network’s total value locked (TVL).
More specifically, the program hopes to kickstart a healthy competition among teams building DEXs, bridges, and DeFi protocols. The total award amount would sufficiently incentivize both small and large teams to build and apply for the program.
Detailed LAP description and example is provided under TON Society’s GitHub announcements. Questions/comments/feedback are welcomed and will be accepted until Aug 19. Teams can leave comments under the “Issues” section (please label your message with “Liquidity Award Program”).
GitHub program description: https://github.com/ton-society/grants-program/blob/main/announcements/liquidity%20award%20program.md
GitHub Issues section (for questions/comments/feedback):
https://github.com/ton-society/grants-program/issues
The official date of the program launch (which starts the 1-year window) is yet to be determined.
TON Society, a platform acting as a beacon where developers and funding come together to endorse and promote various projects on TON, has announced the TON Liquidity Award Program. The $14-million initiative (payable in TON) aims to attract projects to increase the network’s total value locked (TVL).
More specifically, the program hopes to kickstart a healthy competition among teams building DEXs, bridges, and DeFi protocols. The total award amount would sufficiently incentivize both small and large teams to build and apply for the program.
Detailed LAP description and example is provided under TON Society’s GitHub announcements. Questions/comments/feedback are welcomed and will be accepted until Aug 19. Teams can leave comments under the “Issues” section (please label your message with “Liquidity Award Program”).
GitHub program description: https://github.com/ton-society/grants-program/blob/main/announcements/liquidity%20award%20program.md
GitHub Issues section (for questions/comments/feedback):
https://github.com/ton-society/grants-program/issues
The official date of the program launch (which starts the 1-year window) is yet to be determined.
Introducing Soulbound NFTs, a new NFT standard on TON.
Participants of the joint grant program from NFT marketplace Getgems and the TON Punks collection have written a draft for a Soulbound standard, a special kind of NFT that cannot be sold or transferred to another address because it’s forever-linked to its owner’s wallet.
Tapping into the Soulbound token standard will open new opportunities for the technology and NFTs.
For instance, Soulbound tokens can show a wallet’s accomplishments, issue documents (driver’s license, diplomas, etc.), or hand out personalized coupons.
Getgems is inviting developers to a discussion that will help finalize the standard’s draft:
— The standard’s draft proposal.
— An example of implementing the standard.
We can’t wait for product developers to start implementing Soulbound NFTs and think of new mechanics for the standard.
Participants of the joint grant program from NFT marketplace Getgems and the TON Punks collection have written a draft for a Soulbound standard, a special kind of NFT that cannot be sold or transferred to another address because it’s forever-linked to its owner’s wallet.
Tapping into the Soulbound token standard will open new opportunities for the technology and NFTs.
For instance, Soulbound tokens can show a wallet’s accomplishments, issue documents (driver’s license, diplomas, etc.), or hand out personalized coupons.
Getgems is inviting developers to a discussion that will help finalize the standard’s draft:
— The standard’s draft proposal.
— An example of implementing the standard.
We can’t wait for product developers to start implementing Soulbound NFTs and think of new mechanics for the standard.