TON Blockchain Is Experiencing Exponential Growth, with TVL in the Ecosystem Expanding Continuously

This growth highlights the rising use of decentralized protocols in the TON ecosystem.

The TVL in the TON ecosystem has been expanding continuously, highlighting the use of decentralized protocols in the network.

According to Phoenix Group, the TOP 10 protocols by TVL on the TON network are:

1. Tonstakers (STON) - $233.33 million

2. Cygnus - $56.01 million

3. STON - $53.41 million

4. Bemo - $36.53 million

5. EVA Protocol - $36.13 million

6. Storm - $32.80 million

7. Stakee - $25.06 million

8. SCALE - $20.60 million

9. Factorial Finance - $11.37 million

10. UTC - $10.97 million

Major protocols on the TON blockchain

Tonstakers is a liquidity staking protocol that provides users with an affordable approach to participate in staking. It is widely known for allowing users to stake assets from as little as 1 TON.

Cygnus is a DeFi platform designed to link traditional finance and the cryptocurrency world. It enables users to mint stablecoins like USDT, USDC, and BUSD directly on the TON blockchain.

STON is a DEX that serves as a platform for simplified trading of digital assets. It is a primary liquidity aggregator in the TON ecosystem, collecting liquidity from various protocols.

Bemo is a decentralized liquidity staking platform where users can stake their cryptocurrencies and earn interest. It is a decentralized exchange that facilitates the trading of crypto assets.

Storm is a DEX that allows users to trade derivatives with high leverage, which is an essential aspect of advanced trading strategies. It is fully accessible on Telegram and the web.

Stakee is a staking platform that allows users to stake the TON token and qualify for better APY earnings with higher tiers. It is a service that permits users to stake their cryptocurrencies to secure the blockchain network and earn rewards.

SCALE is a DEX that enables users to trade various assets, including BTC, ETH, and other tokens, directly on the TON blockchain without needing to rely on centralized exchanges (CEXs).

Factorial Finance is a lending protocol that enables users to lend and borrow cryptocurrencies in a decentralized manner. It provides a platform for efficient decentralized lending services.

TON blockchain outlook

In 2020, Telegram, a social messaging app, abandoned its TON blockchain following legal disputes with the US SEC.

As a result, the TON community gained control of the blockchain and assumed working on its development, independently without Telegram’s direct participation.

Since that time, the TON blockchain has continued witnessing persistent growth, becoming one of the major blockchains to enlist one million users in a day.

The arrest of Telegram’s founder Pavel Durov in August 2024 contributed to a greater unity within the TON community.

Currently, the TON blockchain continues experiencing significant surges across all metrics including active addresses. Most of the high trading volume and user adoption entering into TON originate from various decentralized platforms like the ones mentioned above.