TON Blockchain Achieves $317M in Total Value Locked, Fueled by Open League Initiative

The Open Network (TON) has reached a significant milestone, with its total value locked (TVL) surpassing $317 million for the first time since its launch. This impressive growth can be largely attributed to the success of The Open League (OL), an ecosystem initiative launched by TON to incentivize user engagement with leading decentralized applications (dApps) within its ecosystem.

Since the launch of the Open League initiative in early March, TON's TVL has skyrocketed from $23 million to its current $317 million, representing an increase of approximately 1278%. This remarkable growth has been driven by the popularity of decentralized exchanges like Ston.fi and Dedust, as well as liquid staking projects such as Tonstakers and bemo.

The Open League program, which aims to distribute 30,000,000 Toncoin (TON) to users, has seen significant participation, contributing to the soaring TVL. Despite reaching this new milestone, the TON token has remained relatively stable, trading around the $6 mark for the past week.

In addition to the TVL achievement, TON has recorded several other notable accomplishments, including becoming the world's fastest blockchain in November 2023, with a speed of 104,715 transactions per second. The network has also secured partnerships with key industry players, such as Pantera Capital, KuCoin, MEXC, Tether, MoonPay, and FireBlocks, further solidifying its position in the crypto ecosystem.$NOT