The Open Network (TON) Launches $25 Million Accelerator Program

The Open Network announced on May 22 that it will launch an accelerator program worth $25 million. The program will invest $50,000 and $250,000 per project that want to develop on the Open Network. The projects that grant investments from TON will receive mentorship and support include:

1. gotbit_io, a hedge fund and market-making company offering trading and risk management solutions

2. Web3Port_Labs, a developer of tools facilitating connections between Web3 startups and contributors to drive innovation

3. ton_starter, the leading fundraising platform on TON.

4. cypher_capital, a United Arab Emirates-based multi-strategy crypto investment firm.

TON 💎 on Twitter: "#TONcoinFund's $250M commitment will boost key projects, focusing on #DeFi. Offering $50-250k per project plus mentorship. 

    Tonstarter on Twitter: TON Accelerator is funneling up to $25M to impactful projects within the growing @ton_blockchain ecosystem,              especially those in the #DeFi arena. Projects can receive a substantial boost of $50,000–$250,000 per initiative! 

The Open Network is a layer 1 blockchain network that has TON as a native token. It’s a blockchain developed by Telegram, the most popular messenger app in the crypto space. Ton has a max supply of 5,000,000,000 TON. Currently 24.43% of TON is in circulation.

Layer 1 blockchain by fully diluted market cap.

Solana $10.9 billion (1.5% inflation)

Sui $10.8 billion

Avalanche $10.7 billion

TON $9.29 billion

Polygon (MATIC) $8.8 billion

Aptos $8.7 billion

Polkadot $7.0 billion (10% inflation)

As of May 23, 2023.