[PRESS RELEASE – Zug, Switzerland, October 4th, 2023]
MEXC Ventures, a subsidiary of global cryptocurrency exchange MEXC, has announced a major investment in… Open network, the largest Tier 1 investment the company has ever made. This investment works alongside a strategic partnership with The Open Network Foundation (TON). This symbiotic partnership represents the shared vision of both companies in enhancing global accessibility of Web3 by lowering barriers to entry.
MEXC Ventures’ investment, the highest amount committed to any Tier 1 blockchain, is just one part of MEXC’s broader efforts to fuel the growth of the TON ecosystem. MEXC Ventures’ investment support for TON-based projects, such as Megaton Finance, TONPlay, Fanzee, and Sonet, is already in full swing, and the investment company plans to continue financing TON-based applications and small projects. The MEXC exchange will also provide marketing and promotion services for the TON-based projects they list on their platform. To further enable the commitment towards the open network, the MEXC exchange will also offer 0% trading fees for Toncoin and plans to offer a TON collateral lending service in the near future.
The TON Foundation acts as a bridge connecting Telegram’s nearly 800 million monthly active users to Web3 and true ownership of assets. The team is dedicated to turning TON into a platform that can be accessed as a simple gateway to Web3, enabling more users to acquire cryptocurrency assets quickly and easily. Backed by MEXC Ventures, the TON Foundation’s goal is to catalyze the creation of the Web3 ecosystem within the Telegram app – turning the social messaging platform into a massive traffic entry point for easy access to crypto assets.
“By working with MEXC, we will provide global access to Telegram’s decentralized Web3 ecosystem,” said Justin Hyun, Director of Growth at TON Foundation. “Our foundation is committed to enhancing a user-centric experience for the open network community. Supporting MEXC greatly enhances our ability to build new tools and services for developers and applications that make cryptocurrencies indistinguishable from social media for users.
TON’s native cryptocurrency, Toncoin, is used to execute smart contracts, use decentralized applications (dApps), and participate in the governance of the TON blockchain. In addition, a portion of Toncoin has been allocated to the TON Foundation to encourage and support the development of the ecosystem. To date, the TON ecosystem features numerous applications, including wallets, DeFi protocols, decentralized exchanges (DEXs), games, NFTs, cross-chain bridges, and social media, giving it a well-established foundational infrastructure.
“This investment underscores MEXC’s strong conviction in the TON blockchain in building an ecosystem of Web3 super-apps on Telegram,” said Steve Yun, Chairman of the TON Foundation. “We are confident that the TON and MEXC ecosystem will grow together as we build for the next market cycle of highs.”
MEXC is a centralized cryptocurrency exchange that uses high-performance matching technology and has consistently maintained a leading futures trading position in the cryptocurrency industry. With the lowest trading fees in the market, a professional team providing industry-leading 24/7 service responses, and a seamless trading experience, MEXC is highly regarded by users in the industry, and has more than 10 million users in over 170 countries around the world. Since its establishment, MEXC has always adhered to the value of “Users First”. Customer satisfaction has always been the guiding standard. The primary reason behind MEXC’s wide reputation for service is its commitment to customer satisfaction. Mixc official website. To register, register at Mixc.
About MEXC projects
Mixc projects It is an umbrella fund of the MEXC Group, committed to enabling innovations in the cryptocurrency space, through strategic investment, M&A, FOF and project incubation. Mexc Ventures supports the concept of “discover opportunities and grow together” by fully sharing financing resources and providing strong support for projects. The team spans across the US, Singapore, Hong Kong and other regions of the world, with over $100 million in assets under management and over 300 portfolio investments.
About Tone Foundation:
Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland in 2023. TON Foundation is 100% community funded, works for the benefit of the community, and supports initiatives aligned with the Open Network mission. Learn more through https://ton.foundation.
About Open Network (TON):
Open network (TON) puts cryptocurrencies in every pocket. By building the Web3 ecosystem into Telegram Messenger, TON gives billions of people the opportunity to own their digital identity, data and assets. See more at https://ton.org/.
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