The TON Software Chain, also referred to as TAC, has formally launched its mainnet on Tuesday, July 15, enabling Ethereum-compatible decentralized finance functions to function inside Telegram’s person ecosystem.
With TAC’s mainnet now stay, well-liked Ethereum-based DeFi protocols — together with Curve, Morpho, and Euler — at the moment are out there on Telegram by way of the chain, in accordance with a press launch shared with The Defiant.
Following the launch, TAC’s native token spiked sharply by greater than 50% to $0.0248, although it has retraced to close $0.022 by press time, in accordance with worth information from CoinGecko.
TAC 24-hour worth chart. Supply: CoinGecko
Constructed on CosmosEVM, TAC is a Layer 1 chain that connects Ethereum dApps and builders with Telegram’s over 1 billion month-to-month lively customers by means of what the protocol’s documentation calls a “TON-specific CrossChain Layer.”
TAC can also be built-in with infrastructure companions reminiscent of LayerZero, RedStone, Blockscout, and Babylon, providing cross-chain messaging and oracle information feeds, in accordance with the press launch.
Looking for DeFi
Backed by blockchain improvement agency The Open Platform (TOP) — which earlier this month reached a $1 billion valuation following a 28.5 million Sequence A spherical — TAC claims that it has accomplished a liquidity marketing campaign that introduced in over $800 million in whole worth locked in collaboration with Turtle Membership, a liquidity distribution protocol.
“TAC’s mainnet launch is a serious step towards bringing DeFi to the mainstream. By connecting Ethereum dApps with the Telegram ecosystem, TAC unlocks actual utility for over a billion customers,” mentioned Andrew Klebanov, managing companion at TOP Labs.
TAC’s launch comes six months after Telegram formally restricted blockchain-based Mini Apps to TON-based initiatives. Beneath an settlement with the TON Basis introduced in January, all Telegram Mini Apps utilizing blockchain options should run on TON and use the TON Join protocol, excluding assist for different chains or pockets requirements.
Commenting on its collaboration with the TON Basis, Telegram mentioned on the time that it deliberate to tokenize digital belongings “solely on TON Blockchain inside the platform, together with emojis and stickers, amongst different digital belongings, whereas additionally tokenizing restricted version presents as NFTs.”
