TON Foundation has formed a new partnership with Jupiter to incubate a new DEX aggregator on the TON Virtual Machine TVM. Together, the two companies aim to thrive in DeFi.
TON Foundation and the partnership with Jupiter: incubating a new DEX aggregator on TVM
The TON Foundation has formed a new partnership with Jupiter to incubate a new DEX aggregator on the TON Virtual Machine (TVM).
In practice, the goal is to improve the aggregation of liquidity on TON thanks to Jupiter, a leading decentralized trading platform in the Spot and Perps sector.
Not only that, the idea is then to pave the way for cross-chain swap integrations that will shape the future of decentralized finance (DeFi).
This partnership leverages Jupiter’s experience and network to make TON a more scalable DeFi ecosystem, thus unlocking new interchain trading opportunities.
And so, while users will be able to find the best rates and access liquidity through blockchain networks, developers and traders will find new tools in TON to thrive in the DeFi space.
To launch the new partnership, TON Foundation and Jupiter are launching a DeFi contest to promote innovation within the TON ecosystem.
TON Foundation with Jupiter: the new DeFi competition to promote innovation
Another peculiarity of this new partnership signed by TON and Jupiter concerns the DeFi contest that aims to promote innovation through a competition among the participants.
In fact, already from now until March 15, 2025, it will be possible to submit your aggregation projects (ongoing or in development), as new DeFi solutions.
The winners will be announced on March 31, 2025, and they will be able to enjoy significant prizes, as well as two important supports.
First and foremost, the advisory support from Jupiter on go-to-market strategies, on the optimization of pathways, and on liquidity management. Then, there will also be support in terms of resources and funding from the TON Foundation, aimed at accelerating the growth and adoption of projects within its ecosystem.
In this regard, Vlad Degen, DeFi Lead of the TON Foundation, commented:
“We are excited to collaborate with Jupiter as we continue to expand the DeFi ecosystem of TON. Our past collaboration with similar partners in this field earlier this year motivated us to pursue a similar partnership with Jupiter. We believe that this collaboration will bring immense value to TON and help establish a thriving cross-chain future.”
Price of TON and the 2024 performance
As the TON Foundation looks towards new DeFi horizons, the crypto of Telegram is closing an extraordinary 2024.
At the time of writing, TON is worth $5.56, in a pump of +132% compared to a year ago. In this fabulous year of all-time highs for the leader crypto, Bitcoin, TON has also reached new milestones.
In fact, its new ATH – All-Time High or historical maximum is above $8, recorded in June 2024.
In this last month, the TON network has also recorded a real boom of USDT stablecoins developed on its blockchain. From not even 100 million USDT on TON issued in April, by December there are over 1.4 billion, of which 1.2 billion are already in circulation.
Another achievement of this month is the conclusion of the beta phase for TON Space, the integrated solution in the Telegram wallet for custody and self-custody.
