Panama City, Panama, October 9, 2024 (Globe Newswire) — Gate.io announces a $10 million strategic investment in The Open Network (TON) blockchain. This investment aims to strengthen collaboration with TON Foundation and accelerate the growth of Telegram-based projects.
With this investment, Gate.io plans to deepen its involvement in the governance of the TON blockchain and contribute to its continued development. The company will also focus on launching new products such as the official CeFi-led Telegram mini app and Gate Wallet within Telegram to further support and expand the TON ecosystem.
Gate Group is also an active participant in the TON Society’s Hacker’s League Hackathon, one of the biggest hacker events of the year. With a total prize pool worth up to $2 million and featuring major prize tracks from major TON projects, the event promises to be a ground-breaking experience for participants. The offline bootcamp will be held in 19 cities around the world, fostering global participation and innovation.
TON-based projects present a compelling use case for mass adoption through the Telegram ecosystem. The Telegram ecosystem is experiencing significant growth with the expansion of its services to Web3 startups. said Dr. Lin Han, Founder and CEO of Gate.io. This makes it an ideal platform for attracting Web3 applications and developers, with the potential for massive user growth and network effects. ”
Although Telegram and TON operate as separate entities, the messaging platform and blockchain protocol are closely aligned, creating a unified environment for innovation.
contact
Elaine Wang
elaine.w@gate.io
Disclaimer: This content is provided by ‘Gate.io’. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation to invest and is not intended as investment advice, financial advice or trading advice. Before investing in or trading in virtual currencies or securities, we strongly recommend that you exercise due diligence, including consulting with a professional financial advisor. Please do your own research and invest at your own risk.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/82d491f2-e164-416c-863e-6772dde71d92.
