On May 22, The Open Network (TON), a layer-1 blockchain previously created by Telegram, announced the launch of a $25 million fund for projects building on its ecosystem.
The venture, dubbed “TON Accelerator Program,” will invest between $50,000 and $250,000 per project and be accompanied by partnerships and mentorships from TON’s staff. Justin Hyun, head of incubation and growth at TON Foundation, commented: