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TON’s TVL stabilises at $248M, with $USDT exceeding $1.43B.
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In 2024, the TON ecosystem will expand from 10 DeFi projects to 50.
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Mini-apps and incentive programs drive user involvement and liquidity.
The TON ecosystem showed robust growth in the year 2024, driven primarily by its native integration of $USDT and the expansion of decentralized finance offerings (DeFi). TON reached an all-time record of $740,000,000 in total value locked (TVL), in July. It then stabilized at $248,000,000, becoming a prominent blockchain player.
The TON ecosystem, however, has a $USDT supply of more than $1.43 billion. This represents 25% of the volume traded on decentralized exchanges (DEX). On-chain data indicates that daily active users have remained at 1 million and the DeFi space has 50 active projects now, up from 10 early in 2024.
TON Aims to $1 B+ TVL by 2025
The introduction of native USDT and a aggressive incentive program for TON in April 2020 fueled a surge in TVL. It climbed from $537k to $740M in July. TVL fell to its current value of $248M due to the ecosystem’s limited opportunities for yield generation and liquidity management problems.
Read Also: TON Blockchain Users Exceed 5,000,000 Daily Active Users
TON is expanding the DeFi ecosystem despite these challenges. This includes stablecoin liquidity program, stable swaps and concentrated liquidity market makers that are TON focused, such as Tonco_io.
One user expressed their excitement over these developments on X.
“We have gone beyond just having 2 DEXes in ton_blockchain, and Tonco_io is now the first concentrated liquidity market-maker on TON. I literally just got off a call. The roadmap is really impressive .”
The Open League incentive program is also growing, with participation in the latest season doubling. TON aims to reach a $1B+ TVL by 2025, with a diverse ecosystem, improved liquidity management and strong support from VCs.
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