TON Space, or the integrated solution in the Telegram wallet for custody and self-custody, has completed the beta phase.
Now, a new update is rolling out that will allow developers to create and launch dApps, stake aggregators and offer NFT/Jetton giveaways. The goal is to help immigrants become part of the TON ecosystem.
The TON Space wallet
The beta version of the TON Space wallet has been used by 100 million users, out of Telegram’s 950 million users. This is therefore an important step in the adoption of Web3.
The new update unifies the wallet’s custody and self-custody options in a fluid and intuitive interface.
The TON Space wallet can be accessed directly from the wallet integrated into the Telegram app, with no additional installations required.
The open platform (TOP)
In addition to TON, which means The Open Network and is the decentralized blockchain behind which Telegram is, there is also TOP, which is The Open Platform.
TOP is a VC and venture builder for early-stage projects on the TON blockchain. It provides a toolkit of funding, expertise and technology resources, and simplifies access to crucial tools such as wallets, developer resources, SDKs, APIs and marketplaces.
TOP’s goal is to enable developers to create scalable Web3 products that are ready for widespread adoption.
The official launch of the TON Space self-custodial wallet was conducted by The Open Platform and marked the end of the beta development period and the subsequent gradual launch of the self-custodial wallet.
The launch of the new wallet TON Space
With this launch, the custodial wallet and non-custodial platform TON Space will be presented to users as equivalent options, making the TON ecosystem more accessible.
As a result of the new update, users of the existing wallet can seamlessly switch from custodial accounts to self-custodial accounts in a single interface.
The aim is to provide smooth onboarding to navigate effortlessly between TON Space and Telegram wallet.
Including a non-custodial wallet allows The Open Platform to be even more flexible in developing and expanding its entire suite of connected products.
Additionally, TON Space will introduce a broader TON ecosystem in new markets and plans to offer integrations that include a dApp catalog, DEX aggregation solutions and staking, as well as mechanisms for NFT and Jetton giveaways.
Meanwhile, TON Space, with its 100 million users, has taken a dominant position within the TON ecosystem and is ready not only to improve developer conversion rates, but also to promote growth and try to become a standard for asset management products across the entire sector.
The CEO of The Open Platform, Andrew Rogozov, amministratore delegato, stated:
“We aim to engage 30% of Telegram users in the TON ecosystem by 2028, and the launch of our self-custodial wallet is another milestone in our journey to achieve this goal.”
Ton coin (TON)
TON has its own native cryptocurrency, called Toncoin, and its ticker is TON.
Toncoin was also in the top 10 cryptocurrencies by market capitalization for some time in recent months, but has recently fallen to 14th place.
The reason is that, unlike many other top cryptos, it has benefited very little from the so-called Trump trade.
While the price of Bitcoin has risen by 10% over the past 30 days, and that of Ethereum by 18%, Toncoin has fallen by as much as 15%.
However, we should not forget that the incredible boom occurred at the beginning of the year, when the price rose from $2.1 to $7.2 in about a month and a half between February and April.
The maximum peak of 2024 was reached in June, above $8.1, but fell back to below $4.7 in the following months.
With Trump’s election victory, the price rose to $6.9 within a month, but then fell to the current $5.4 over the course of the past two weeks.
Toncoin’s behavior in the crypto market does not strictly follow that of Bitcoin, Ethereum, or the crypto market as a whole, and this makes it one of the few cryptocurrencies that can help diversify a crypto portfolio.