TAC launches public mainnet to bring DeFi protocols like Curve and Morpho onto TON and Telegram
Quick Take Ethereum-based DeFi protocols including Curve, Morpho, Bancor, ZeroLend, and Euler are now available for TON and Telegram users.
TAC, a Layer 1 network aiming to bring Ethereum composability to The Open Network (TON) and the messaging platform Telegram, launched its public mainnet.
Popular Ethereum-based decentralized finance (DeFi) protocols including Curve, Morpho, Bancor, ZeroLend, and Euler are available for TON and Telegram users, bringing decentralized lending, yield, exchanges, and other use cases, according to a release shared with The Block. Developers can launch apps straight onto TAC, short for the TON Applications Chain.
"TAC’s mainnet launch is a major step toward bringing DeFi to the mainstream. By connecting Ethereum dApps with the Telegram ecosystem, TAC unlocks real utility for over a billion users," said TOP Labs Managing Partner Andrew Klebanov in a statement. "The team combines deep technical expertise with a clear growth strategy and is uniquely positioned to bring the best of Ethereum into TON."
Telegram surpassed 1 billion in monthly active users in March, the platform's CEO Pavel Durov said in a personal Telegram channel.
TAC raised a total of $11.5 million in funding, stemming from strategic investments and a $6.5 million seed round led by Hack VC and Symbolic Capital in November 2024. The Open Platform (TOP), a TON development project that backs TAC, also raised $28.5 million in an extended Series A raise on July 3 to net the firm a $1 billion valuation, The Block previously reported.
The Open Network supports Telegram mini-apps, including the popular crypto games Hamster Kombat and Notcoin . The blockchain claims to have over 40 million active users.
The blockchain's native asset Toncoin traded at $3.01 as of publication, according to The Block's TON Price Page . TON maintains a market capitalization of $7.4 billion and brought in $287 million in trading volume in the last day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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