MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, has announced a significant investment in The Open Network (TON), the largest layer-1 investment the firm has ever made. This investment works alongside a strategic partnership with The Open Network (TON) Foundation. This symbiotic partnership represents the shared vision of both companies in promoting global Web3 accessibility by lowering the barriers to entry.MEXC Ventures’ investment, the highest amount it has committed to any layer-one blockchain, is just one part of MEXC’s broader efforts to bolster the growth of TON’s ecosystem. MEXC Ventures’ investment support of TON-based projects, such as Megaton Finance, TONPlay, Fanzee, and Sonet, is already well underway, and the venture firm plans to continue funding TON-based mini apps and projects. MEXC’s exchange will also provide marketing services and promotion for the TON-based projects they list on their platform. To further empower a commitment to The Open Network, MEXC exchange will also introduce 0% trading fees for Toncoin and plan to provide a TON collateral lending service in the near future.TON Foundation acts as a bridge, connecting nearly 800 million monthly active Telegram users to Web3 and true asset ownership. The team is dedicated to transforming TON into an accessible platform as a simple gateway to Web3, enabling more users to acquire cryptocurrency assets swiftly and conveniently. With the support of MEXC Ventures, TON Foundation’s goal is to catalyze the creation of a Web3 ecosystem within the Telegram app– transforming the social messenger platform into a massive traffic entry point for easy access to crypto assets.TON’s native cryptocurrency, Toncoin, is used for executing smart contracts, utilizing decentralized applications (dApps), and participating in governance on TON blockchain. Additionally, 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 boasts a multitude of applications, spanning wallets, DeFi protocols, decentralized exchanges (DEXs), games, NFTs, cross-chain bridges, and social, giving it a well-established foundational infrastructure.MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has announced a significant investment in The Open Network (TON), the largest layer-1 investment the firm has ever made. This investment works alongside a strategic partnership with The Open Network (TON) Foundation, which seeks to promote global Web3 accessibility by lowering the barriers to entry. MEXC Ventures’ investment is just one part of MEXC’s broader efforts to bolster the growth of TON’s ecosystem, which includes funding TON-based mini apps and projects, providing marketing services and promotion for the TON-based projects they list on their platform, and introducing 0% trading fees for Toncoin.TON Foundation is dedicated to transforming TON into an accessible platform as a simple gateway to Web3, enabling more users to acquire cryptocurrency assets swiftly and conveniently. TON’s native cryptocurrency, Toncoin, is used for executing smart contracts, utilizing decentralized applications (dApps), and participating in governance on TON blockchain. The TON ecosystem boasts a multitude of applications, spanning wallets, DeFi protocols, decentralized exchanges (DEXs), games, NFTs, cross-chain bridges, and social, giving it a well-established foundational infrastructure. MEXC is a centralized cryptocurrency exchange that employs high-performance matching technology and has consistently maintained a leading position in the field of futures trading in the cryptocurrency industry. MEXC Ventures is a comprehensive fund under MEXC Group, committed to empowering innovations of the cryptocurrency field, via strategic investment, M&A, FOF, and project incubation. The TON Foundation is a non-profit organization founded in Switzerland in 2023, 100% funded by the community, and acting in the community’s interests.

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Information	Details
Geography	Europe
Countries
Sentiment	positive
Relevance Score	8
People	Justin Hyun, Steve Yun
Companies	MEXC Ventures, The Open Network, The Open Network Foundation, MEXC, TON Foundation
Currencies	Snetwork, Toncoin, Megaton Finance, Ethereum, Bitcoin
Securities	None