July 15, 2024 marks a historic date for blockchain and decentralized finance: the mainnet of TAC (TON Software Chain) has been formally launched, a blockchain designed to allow EVM-compatible decentralized functions to entry the TON and Telegram ecosystem. This occasion opens the doorways to over one billion Telegram customers, who can now work together instantly with the principle Ethereum DeFi dApps.
TAC: the Ethereum DeFi ecosystem lands on Telegram and TON
With the mainnet launch, a number of the most essential DeFi functions on Ethereum, together with Curve, Morpho, and Euler, at the moment are additionally out there on Telegram and TON. These platforms signify one of the best of decentralized monetary innovation and, due to TAC, are prepared to supply their providers to an viewers by no means seen earlier than within the crypto world.
The declared purpose of TAC is to carry actual utility from day one, integrating probably the most dependable dApps of Ethereum instantly into the Telegram ecosystem. This step transforms Telegram into a real tremendous app, able to providing superior monetary providers to each bull and bear customers skilled in cryptocurrencies and people much less aware of the sector.
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A stable help: The Open Platform (TOP)
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Behind the success of TAC is the help of The Open Platform (TOP), a founding associate that performed a vital function within the growth of the mission. In July 2024, TOP achieved unicorn standing due to a valuation of 1 billion {dollars}, after elevating 28.5 million {dollars} in a Collection A funding spherical. The shared imaginative and prescient between TOP and TAC is to speed up the mass adoption of blockchain by integrating modern options into the every day lives of customers.
Andrew Klebanov, Managing Associate of TOP Labs, emphasised how the launch of the mainnet represents “a elementary step to carry DeFi to most of the people,” highlighting TAC’s capacity to attach Ethereum dApps with the Telegram ecosystem and supply tangible utility to over a billion customers.
DeFi Summer time on Telegram: liquidity and innovation
The arrival of the principle DeFi platforms on TAC marks the start of a real DeFi Summer time on Telegram. Along with Curve, Morpho, and Euler, different vital dApps corresponding to Bancor, ZeroLend, IPOR Fusion, and Market.win are already lively on TAC. These functions will kind an operational and built-in DeFi ecosystem inside Telegram’s blockchain financial system, with the potential to surpass conventional EVM networks due to Telegram’s distributive energy.
A key factor for the success of this initiative was the Summoning Liquidity marketing campaign, carried out in collaboration with Turtle Membership. This marketing campaign made it potential to assemble over 800 million {dollars} in TVL (Complete Worth Locked), making certain strong markets and fixing the standard liquidity drawback that plagues new DeFi ecosystems.
A phased launch: from the developer to the top consumer
The trail in direction of the general public launch of the TAC mainnet has been fastidiously deliberate. The Developer Mainnet was launched in mid-June, offering builders with the mandatory time to check and deploy their functions earlier than the general public mainnet goes reside. After the creation of the Genesis block, validation started with a pre-selected set of validators, thus making certain the soundness of the community.
With the second section, that of the Public Mainnet, EVM builders now have entry to all the mandatory options to launch their very own apps on TAC, instantly leveraging Telegram’s huge consumer base and bringing DeFi even to these with no expertise within the bull crypto bear sector.
Pavel Altukhov, co-founder of TAC, acknowledged:
“TAC enriches the TON ecosystem with a ready-to-use DeFi layer, examined and operational from day one. This represents an essential step not just for TON, but in addition for the evolution of Telegram as a brilliant app.”
TAC: scalable and safe structure
TAC presents itself as a blockchain layer 1 constructed on CosmosEVM structure, making certain full compatibility with Ethereum’s Cancun onerous fork. The community’s safety is ensured by a Delegated Proof-of-Stake (DPoS) consensus mechanism based mostly on Tendermint and the native token $TAC, which permits for block finality in about 2 seconds and permits customers to delegate their tokens to trusted validators.
An extra stage of safety is obtainable by the mixing with Babylon, which introduces Bitcoin staking to strengthen consensus validation. TAC has additionally fashioned partnerships with main infrastructure suppliers corresponding to LayerZero, RedStone, Blockscout, Dune, and Thirdweb, laying the inspiration for a scalable and developer-oriented ecosystem.
Sandeep Nailwal, co-founder of Polygon and CEO of the Polygon Basis, praised the work of TAC, highlighting how their mission completely aligns with the purpose of unifying fragmented blockchains right into a single, easy, and scalable Web3 expertise.
A promising future for blockchain on Telegram
The launch of TAC’s mainnet comes after the corporate raised 11.5 million {dollars} in seed and strategic funding rounds, led by Hack VC. With a stable technical construction, strategic partnerships, and a transparent imaginative and prescient, TAC positions itself as the perfect bridge between Ethereum’s innovation and Telegram’s huge consumer base.
The combination of DeFi on Telegram by means of TAC might mark the start of a brand new period for the blockchain, making decentralized finance accessible, safe, and speedy for tens of millions of individuals all over the world.