The TON Foundation is taking a bold step by ending the Toncoin bridge to Ethereum and Binance Smart Chain

This change shows the network's continued growth and focus on enhancing how Toncoin moves across blockchains

The TON Foundation is shutting down the Toncoin Bridge to Ethereum and Binance Smart Chain.

Announcing the closure of the Toncoin Bridge, the TON Foundation highlighted the service's role since 2021 in facilitating over 31,800 transfer claims and moving 101 million TON tokens without any reported security breaches or hacks.

The bridge enabled users to trade Toncoin on platforms like Uniswap and PancakeSwap before TON had its own decentralized finance (DeFi) options.

"After 4 years and 100M+ $TON bridged, Toncoin Bridge is retiring. Starting May 10, 2025, users will no longer be able to bridge $TON to Ethereum or BNB Chain. Claims from past transfers will stay open, and inbound bridging remains live for now," the foundation said.

"Toncoin Bridge was essential in the early days of providing liquidity and user access to new markets. As TON developed its own DeFi ecosystem and advanced cross-chain technologies, the Bridge's role diminished."

Expanding on the closure, the foundation noted that the bridge saw wrapped Toncoin reach 35,694 unique collective holdings on Ethereum and 113,495 on BSC. It played a crucial role in generating initial liquidity and providing user access, especially for trading on platforms like Uniswap and PancakeSwap, and engaging the broader crypto community.

However, as TON's own scalable multi-blockchain architecture emerged, offering possibilities like Web3 applications, yield farming on SquidChain, and interoperability with other chains, the old bridge became less relevant.

Moreover, newer cross-chain technologies like LayerZero and Stargate enable faster, safer, and more efficient transfer options, rendering the old bridge less optimal for transferring value between blockchains.

"Closing the bridge promotes security by removing older infrastructure and encourages users to adopt modern tools and services," the foundation added. It also showcases TON's transition from relying on foreign chains to highlighting its own scalable architecture and expanding ecosystem.

This move signifies a shift in strategy as TON focuses on developing its own DeFi protocols and interoperability solutions.

The move will likely reduce the liquidity of wrapped TON on Ethereum and BSC, potentially affecting trading volumes of Toncoin on these chains.

Currently, over 149,000 users hold wrapped TON across Ethereum and BSC, indicating a significant market presence.

While this could shift liquidity back to the TON ecosystem with protocols like SquidChain and UnionChain, the overall market impact is expected to be gradual as users transition to newer bridging options.