TON Blockchain has achieved remarkable success this year, with a significant increase in user growth and the emergence of numerous mini-applications. This growth has been driven by various factors, including updates to the developer ecosystem and notable achievements in the DeFi space. Together with DWF Ventures, we analyze the data to explore the reasons behind this growth.
In terms of user activity, TON has experienced a staggering tenfold increase in daily active users (DAUs) compared to the previous year. Additionally, the number of transactions per user has shown consistent growth, with certain days even surpassing Ethereum’s transaction numbers, solidifying TON’s position among leading blockchain platforms.
A key driver of this growth has been the rise of mini-apps. Notable examples like the notcoin and @CatizenAI have attracted millions of users, leveraging the distribution capabilities of Telegram to facilitate user involvement. Statistics from The Open League 5 reveal that mini-apps have successfully onboarded users from the Web2 space, presenting a significant opportunity for TON to become the go-to blockchain for Web2 user onboarding, similar to Solana’s success in 2021.
In the realm of DeFi, decentralized exchanges (DEXs) such as @dedust_io and @ston_fi have emerged as leaders on the TON platform. While Stonfi boasts a larger number of traders, Dedust has surpassed it in terms of trading volume since July. The most frequently traded tokens on TON include $TON, $NOT, and $USDT, with meme tokens also making frequent appearances, albeit with short lifespans.
The introduction of native USDT on April 19 has significantly boosted liquidity flow between TON and centralized exchanges (CEXs), with transfer volumes reaching approximately $1 billion in the past month. The supply of native USDT has rapidly grown to over 730 million within just three months, rivaling its counterpart on Solana. Although daily trading volume has decreased since reaching an all-time high of $1 billion in April, the number of token holders continues to rise steadily, indicating ongoing user onboarding.
The TON developer ecosystem has witnessed substantial progress, notably with the introduction of TACT, a Rust-like programming language that has garnered significant developer engagement. In July, the number of active developers reached yearly highs of over 260, with 90% of them exclusively building on TON. Beyond the mini-app frenzy, TON Blockchain’s metrics have demonstrated consistent growth across various sectors.
With the concerted efforts of the TON team and collaboration with DWF Ventures, TON’s growth potential is immense, and it is poised to gain even more momentum in the second half of the year.