OKX Ventures Backs $10 Million Telegram Growth Hub for TON

OKX Ventures, The Open Platform (TOP), and Folius Ventures have unveiled a $10 million Telegram Growth Hub. It will provide essential funding and resources to projects that enhance user engagement on TON, supporting innovations and expanding Telegram’s mini-app ecosystem.

Beyond encouraging developer participation in TON, this initiative also signals confidence in the platform’s future.

Empowering Developers Across Key Areas

The Telegram Growth Hub plans to select up to 10 projects for a two-month acceleration program, offering financial support from a $10 million fund. Applications are open until November 29. This initiative represents a significant investment in TON ecosystem, aiming to attract developers and enhance user engagement through innovative, interactive applications.

The hub will focus on three primary areas: user onboarding and education, trading capabilities and networks, and the mini-app ecosystem. The Growth Hub tailors each focus area to support The Open Network’s (TON) rapid expansion, aligning with Telegram’s surging user base, which now grows by an estimated 2.5 million new users daily.

“TON’s seamless integration with Telegram’s user base, coupled with the messaging app’s nearly one billion monthly active users, positions the ecosystem for mass adoption. This program represents our commitment to fostering innovation and supporting projects that will shape the future of decentralized applications on Telegram,” said Jeff Ren, partner at OKX Ventures.

The Growth Hub will additionally support mini-app developers in launching innovative solutions for gaming and entertainment. These efforts aim to broaden TON’s user appeal and provide developers with opportunities to test and implement fresh ideas that boost user engagement on the platform.

Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners

This fund is timely, as Telegram’s growing popularity creates fertile ground for new blockchain-driven applications tailored to its massive audience. Projects that streamline user onboarding will play a crucial role in demystifying TON for newcomers.

Support for Select Projects and Innovator Opportunities

OKX Ventures and its partners are prioritizing intuitive interfaces and educational tools to make TON accessible for everyday users, easing their introduction to blockchain technology. Selected projects will receive more than funding, gaining access to a robust support system designed to drive growth and scalability.

The Growth Hub provides capital for talent acquisition and community building. It will also give access to OKX’s and TOP’s extensive developer resources. Notably, projects will gain from OKX Connect, a newly launched solution by OKX Ventures that simplifies wallet integration for TON developers.

In addition, developers will have access to TOP’s developer toolkit. This includes vital TON ecosystem tools such as Tonkeeper for wallet management, TON Apps API for app development, and the Getgems NFT Platform for managing digital assets. Collectively, these resources offer essential infrastructure for developers to build, scale, and retain users within TON ecosystem.

Read more: How To Fund Innovation: A Guide to Web3 Grants

The success of TON blockchain has been driven mainly by popular projects like Notcoin, DOGS, and Hamster Kombat, as well as Telegram airdrops. Meanwhile, concerns over large holders deserting TON, which has made the network no longer lucrative for bad actors, cannot be ignored.