Exploring TON's Innovative Path: From Growth Incentives to Creating a Robust DeFi Ecosystem Worth Billions

In this insightful interview, Alena Shmalko , Ecosystem Lead at TON Foundation As TON outpaced Ethereum in daily active addresses, what key elements drove this advancement? How crucial are initiative programs like The Open League in this growth?

In June, we marked a significant achievement as TON outperformed Ethereum in daily active wallets for nearly the entire month. Since late February to early March, we have witnessed a visibly active expansion in both wallet creation and daily interactions. From a Total Value Locked (TVL) perspective, we saw nearly 5000% growth, peaking at approximately 770 million in TVL, setting a new record for us.

Several influences played vital roles in this incredible growth. The Open League, designed to incentivize users and teams, acted as a catalyst for various other growth drivers. Additionally, the Notcoin mint captured substantial attention within the ecosystem, providing users with an impressive average return of $200 per wallet. This led to heightened on-chain activity, leading to additional listings such as DOGS and CATI over the subsequent months.

The launch of native USDT on TON generated additional excitement, bolstered by an incentive program from the TON Foundation for USDT-TON liquidity pools on decentralized exchanges. However, this is merely the starting point; our next challenge lies in converting this influx of liquidity and short-term incentives into more sustainable growth trajectories.

The success of the Open League and the emergence of tap-to-earn applications have been pivotal in drawing a significant online follower base. These applications excel at swiftly onboarding new users while gradually familiarizing them with Web3 technologies.

The Open League serves as a complementary mechanism that provided an initial push. Importantly, it has evolved beyond being the sole growth catalyst, as it was originally intended to stimulate rapid expansion while parallel strategies for sustainable and long-term development are being developed, which we are currently observing.

In regard to the $1.2 million prize pool for The Open League, how does it encourage increased engagement within the TON ecosystem?

This season, Season 6, we are indeed dispersing $1.2 million over two distinct airdrop events. The first, aimed at newer users, is called the 'Normie drop', while the second is geared toward more experienced DeFi users.

For the Normie drop featuring a $1 million prize fund, the process is straightforward, with explicit instructions available on our website. Participants must mint a badge for tracking purposes, engage with at least two apps from a designated list (primarily games and user-centric mini-apps), and take part in key DeFi protocols, including our two DEXes (STON.fi and DeDust.io), our lending protocol EVAA, and two liquid staking rigs (Tonstakers and bemo). Normie Airdrop For those apps, users need to provide some liquidity or contribute to trading volumes to enhance their scores. It’s expected that the DeFi sector will provide the most points as it represents the most intricate activities we seek to encourage. Engagements such as NFT purchases, maintaining certain assets on TON, and holding tokens from utilized projects also contribute to score accumulation. Degen Airdrop The second airdrop is specifically tailored for seasoned users, concentrating exclusively on DeFi protocols. This features two categories: the TVL Squad encompassing ten protocols and the Volume Squad of four protocols. Participants need to mint a badge and either supply a minimum of $200 in liquidity over the duration of the season within the first list's protocols or complete transactions totaling at least $1,000 across the four protocols listed in the second squad. Engagement in one or both leads to more favorable rewards, where greater activity translates to better airdrop bonuses by the season's conclusion.

How does TON's mission to make blockchain accessible to everyday users correspond with the establishment of The Open League?

The reason behind creating The Open League stemmed from the realization that the time was ripe for ecosystem development, project advancement, and the necessity for increased activity and momentum. Additionally, market dynamics were favorable. We thoroughly investigated how similar incentive structures have been executed on other blockchains and designed our own innovative approach, which we continually enhance each season.

Each season spans a month, followed by a brief intermission allowing us to assess outcomes and implement upgrades. Interestingly, The Open League primarily targets newcomers rather than only experienced users; however, it is not restrictive in this regard. Its broad orientation allows for diverse participation.

This program opens the door for users of all backgrounds to discover engaging opportunities. Novices can receive small incentives just for setting up a wallet and conducting basic on-chain transactions. Conversely, more informed users who are well-versed in DeFi can delve into advanced protocols and strategies.

From my observations, programs aimed at providing incentives, particularly large airdrop initiatives, often focus on seasoned users rather than beginners. Our priority remains on ensuring ease of use with applications, and we are committed to introducing average users to a variety of offerings on TON.

What sets TON apart from other blockchains is its user-centric approach, with an emphasis on delivering superior user experiences within ecosystem products. We recognize our responsibility to engage with Telegram’s Web2 audience, leading us to design most applications with Web2 users transitioning into blockchain in mind, providing us with a significant edge.

I don’t want to imply that we have entirely achieved this goal or that we are far ahead of others in this area. I genuinely believe that we possess all the requisite tools and a comprehensive strategy to concentrate on this fundamental aspect. Thus, The Open League, as a device for driving user onboarding, aims to enhance accessibility while offering our in-ecosystem applications further incentives and resources through rewards to onboard users promptly, showcase value, and most importantly, maintain their engagement with the product.

What role do Telegram mini-apps play in the TON ecosystem, and how do they contribute to making decentralized applications more user-friendly and accessible for a wider audience?

Currently, mini-apps on Telegram are the leading incarnation of decentralized applications on TON. Following last year’s strategic alliance with Telegram, many developers recognized the chance to leverage an expansive distribution network and gain a competitive edge over conventional web applications. With nearly a billion users engaging monthly, the mini-app format offers a compelling route to attract this audience through established, effective channels and techniques.

While TON also boasts web applications—particularly in the DeFi sector, where many projects initially emerged and still hold their primary focus due to familiarity among Web3 users—mini-apps serve as powerful tools for mass consumer interactions. Drawing from the experiences of some of the world's largest super-apps, such as WeChat in China, they concentrate user engagement, enhance retention, and foster natural monetization to stimulate business growth.

Are mini-apps like Hamster Combat geared primarily towards younger demographics to pique their interest in cryptocurrency?

Indeed, the developers of such applications target a youthful audience; however, I would argue that the user demographic is quite extensive, thanks to the simplicity and enjoyment they offer. I've come across many individuals from older age brackets, including those in middle age and even seniors, who have engaged with applications like Hamster Combat, although younger audiences, including schoolchildren, certainly dominate.

A close friend of mine who teaches sent me a voice note saying, “Alena, have you noticed? All my students are tapping on hamsters during their breaks!” So, 7th and 8th graders are jumping into this realm, even if the app doesn't directly implement crypto or any Web3 features yet. Nevertheless, it does embody tasks that relate to the crypto industry, exchanges, and business development around cryptocurrency.

Yes, there is a lean towards younger audiences primarily due to the potential for future engagement and the ease of onboarding such users. Nonetheless, I also observe that older generations recognize certain benefits, though I am not specifically addressing Hamster but mini-apps in a more general sense, which cater to various profiles and needs.

Exploring TON's Bold Journey from Incentivized Expansion to Creating a Thriving DeFi Ecosystem Valued in Billions - Metaverse Post

Alena Shmalko, the Ecosystem Lead at TON Foundation, shares insights on the evolution of the TON blockchain, emphasizing The Open League's significance, the influence of Telegram mini-apps, and TON's ambitious vision for embracing Web3.

Delving into TON's Bold Journey from Incentivized Expansion to Establishing a Billion-Dollar DeFi Ecosystem.

Taking a Closer Look at TON's Bold Journey from Incentivized Growth to Establishing a Billion-Dollar DeFi Ecosystem.

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Alena Shmalko, the Ecosystem Lead at TON Foundation, elaborates on the impressive development of the TON blockchain, which recently outpaced Ethereum in daily active addresses. She shares her perspectives on The Open League's contribution to ecosystem growth, the transformative role of Telegram mini-apps, and TON's ambitious roadmap for widespread Web3 integration.

As TON has now overtaken Ethereum in daily active addresses, what elements have driven this significant growth? Additionally, what impact do incentive programs like The Open League have in facilitating this progress?

In June, we marked a significant accomplishment, as TON consistently surpassed Ethereum in daily active wallets for nearly the entire month. Since late February or early March, the ecosystem has been experiencing substantial growth in wallet creation and daily engagement. From a Total Value Locked (TVL) standpoint, we've seen an astounding increase of nearly 5000%, peaking at around 770 million TVL, which was an unprecedented achievement for us. leaderboard Several key factors have fueled this remarkable growth. The Open League, functioning as a user and team motivation program, acted as a catalyst for various other aspects of growth. For example, the Notcoin mint captivated significant interest within the ecosystem, yielding favorable outcomes for participants averaging $200 per wallet. This influx generated heightened on-chain activity, leading to listings for projects such as DOGS and CATI in recent months.

The launch of native USDT on TON instigated considerable interest, backed by incentivization initiatives from the TON Foundation promoting USDT-TON liquidity pools on decentralized exchanges (DEXes). This, however, marks merely the beginning; our forthcoming steps will aim to transform this liquid capital and artificial incentives into enduring, sustainable pathways.

The triumph of The Open League and the surge of tap-to-earn applications have been instrumental in capturing a broad online user base. These applications have excelled in swiftly welcoming users and gradually acclimating them to Web3 innovations.

The Open League acts as a supplementary mechanism that infused the ecosystem with a much-needed initial momentum. Importantly, it’s evolved beyond being the sole growth driver; it was initially crafted to trigger expansion while simultaneously developing additional structures for sustainable, long-term progress, which we are now starting to witness.

Regarding the $1.2 million prize pool for The Open League, how does it incentivize participation in the TON ecosystem?

In this ongoing sixth season, we are indeed distributing a total prize pool of $1.2 million across two separate airdrops. The first, termed the 'Normie drop', caters to novice users, while the second one is aimed at seasoned DeFi enthusiasts.