TLDR
- TON Application Chain (TAC) is launching a new layer-2 network for the TON Blockchain ecosystem
- TAC will use Polygon’s Chain Development Kit (CDK) and AggLayer technology
- The layer-2 network will be Ethereum Virtual Machine (EVM) compatible
- This integration aims to bring EVM-based decentralized applications (DApps) to the TON ecosystem
- The project is backed by The Open Platform, an investor focused on the TON blockchain ecosystem
The TON (The Open Network) blockchain, known for its affiliation with the popular messaging app Telegram, is set to expand its capabilities with a new layer-2 network.
The TON Application Chain (TAC), announced on July 9 at the Ethereum Community Conference (EthCC) in Brussels, aims to bridge the gap between the TON ecosystem and Ethereum-based applications, potentially opening up new possibilities for Telegram’s vast user base.
TAC, backed by The Open Platform, an investor focused on the TON blockchain ecosystem, will leverage technology from Ethereum-focused layer-2 developer Polygon.
Specifically, TAC will utilize Polygon’s Chain Development Kit (CDK) and AggLayer interoperability protocol. This collaboration brings together the strengths of TON’s large user base and Polygon’s technical expertise in scaling solutions.
A key feature of the TAC project is its compatibility with the Ethereum Virtual Machine (EVM), which is akin to Ethereum’s operating system.
This compatibility is crucial as it allows developers who have built applications under the widespread Ethereum standard to easily port their projects to the new TAC layer-2 network within the TON ecosystem.
Pavel Altukhov, founder of TAC, emphasized the importance of this feature, stating,
“We chose to build on the Polygon ecosystem for its EVM compatibility, seamless availability of liquidity from EVM chains via AggLayer, comprehensive deployment support, and Polygon’s EVM expertise.”
The integration of EVM functionality is expected to significantly expand the range of applications available to TON network users. Potential use cases highlighted by the team include decentralized finance (DeFi) applications, gaming, and decentralized identity solutions.
Altukhov expressed particular optimism about the potential for DeFi and GameFi applications following the integration.
This development comes at a time when the TON ecosystem is experiencing significant growth. According to data from Messari, the number of daily active addresses on the TON network surpassed Ethereum during June 2024.
The expansion of the mini apps ecosystem within Telegram has driven the growth to 5.8 million monthly active on-chain wallets, a number that TAC’s integration is expected to amplify further.
The timing of TAC’s launch aligns with a broader trend of major blockchain companies pursuing their own layer-2 networks. Over the past year, companies like Coinbase, Celo, Worldcoin, and OKX have all announced or launched layer-2 solutions, primarily atop Ethereum. TAC’s approach is unique in that it aims to connect the TON ecosystem with the broader Ethereum landscape.
TAC’s founding team brings significant expertise to the project. It includes Michael Egorov, the founder of Curve Finance, a leading DeFi protocol. Egorov highlighted the potential impact of the collaboration, saying, “TAC can connect hundreds of millions of Telegram users with DeFi, possibly driving the next wave of DeFi adoption.”
Looking ahead, TAC is seeking to raise an additional $5 million in an external funding round to support its development and expansion.
The success of this layer-2 solution could have significant implications for both the TON ecosystem and the broader blockchain landscape, potentially bringing decentralized applications to Telegram’s estimated 800 million monthly active users.
