How to Find Promising Projects in the TON Ecosystem

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The recent listing of TON on Binance marks a significant milestone, bringing the ecosystem access to the largest liquidity pool in the market. This provides substantial value support for TON’s growing network of applications and tokens.

Still, the TON ecosystem remains in its early stages. It attracts considerable external attention, but identifying high-potential projects at this phase is challenging. You can’t simply follow a fixed formula or rely on outdated patterns. Instead, focusing on the "attention economy" might offer a clearer path forward.

One effective way to gauge momentum is by observing TON’s ongoing "Open League" competitions. These events highlight emerging projects and reflect the ecosystem’s growth trajectory. In this article, we explore how these leagues can help you spot promising opportunities within TON.

Background: The Rise of the TON Ecosystem

TON’s ecosystem began accelerating notably after the Dubai Summit. The price of TON stabilized around $7 after a correction, and then Notcoin captured the spotlight by attracting millions of users. Its successful listing across major exchanges sparked a "Click Summer" trend, setting a benchmark for what’s possible on TON.

By June, TON’s price peaked at $8.2, raising expectations for the ecosystem’s future. Notcoin demonstrated viral user acquisition and created a niche for "click-to-earn" tokens. This model thrives particularly well on Telegram and TON, leveraging Telegram’s interactive features. Notcoin’s success underscored TON’s growing influence in the crypto space.

Major exchanges rushed to list NOT, and trading volume soared, often ranking #1 on Binance during peak periods. The token’s performance feedback positively into TON’s price and ecosystem development.

Even before the Binance listing, TON’s total value locked (TVL) exceeded $700 million, and its token secured a spot in the top 10 by market cap. TON’s high circulation rate—nearly 50% of total supply—makes its market cap highly responsive to price changes. This has led some to anticipate a rise in its rankings (it currently holds the 8th position).

This progress results from careful long-term planning and precise ecosystem management by the TON Foundation. A key catalyst was the introduction of the TON Open League.

The Role of the Open League

In early 2024, TON launched the Open League to stimulate ecosystem growth. It started with a month-long test season, followed by an official season. Participation surged, incorporating most of the ecosystem’s foundational projects and active tokens.

The second season, from May 1 to May 15, maintained impressive metrics despite a reduced prize pool:

These two seasons revitalized the entire ecosystem.

The third season introduced refinements: increased support for DEX and Meme tokens, and adjusted competition rules. Over 60 tokens participated, divided into Premier and Junior Leagues. Final rankings were categorized by growth metrics, interaction data, and project type (e.g., App, Token).

The League showcases TON’s strategic, nuanced approach to ecosystem development. In a rapidly evolving industry, the ability to adapt quickly and sustain effort is critical. It requires not only capital investment but also skill in focusing community attention and building momentum. This creates an "attention economy" that can benefit attentive investors.

Standout Projects in the Open League

According to TON’s official website, the ecosystem now includes over 1,000 projects across categories like:

Excluding meme tokens, there are roughly 300 on-chain applications, primarily in gaming, bots, and DeFi. These applications provide stable value capture for the ecosystem.

During recent TON price rallies, DeFi tokens like those from DEXs and launchpads performed exceptionally. For example, TonUP’s UP token rose ~500% in a short period early this year. STON, a leading DEX, saw gains of around 1000% over two months during the League.

Open League participants can broadly be grouped into two categories: DeFi and Meme tokens. Projects that appeared multiple times across seasons often achieved milestones aligned with their roadmaps, gaining visibility and growth opportunities.

Examples from recent seasons:

A notable pattern is collaboration among projects. Many, like Jetton, Ton Diamonds, DeDust, Tonraffles, Gram, and TonUP, have formed partnerships. This reflects TON’s ecosystem characteristic: numerous small projects leveraging shared resources to aggregate attention and momentum.

The Builders Behind TON’s Growth

The TON Foundation is the primary driver of ecosystem development. Unlike some blockchain teams, TON has executed a long-term strategy, resulting in substantial and sustained growth.

TON was listed in Q2 2022. Initially, the ecosystem was underdeveloped despite high token circulation. Today’s stability and excitement are the results of two years of consistent effort—technical improvements, mainnet stability, and community building.

Projects within TON can be categorized into three types:

  1. Foundation-led: Highlighted on TON’s official website.
  2. Incubated by major teams: For example, TOP Labs (over 30 high-quality projects) and Microcosm Labs (10+ projects, focused on Asia).
  3. Emerging small/medium projects: Using public tools and open-source code.

The second and third categories often produce standout projects. For instance, TOP Labs backed STON (a leading DEX) and Notcoin. Microcosm Labs launched TonUP and PixelSwap, which address specific ecosystem needs.

These projects capture value effectively by aligning their development with TON’s growth phases. For example, UP and STON tokens saw gains of 500% and 3000%, respectively, during TON’s upward trends.

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Take TonUP: its roadmap focuses on building a "golden shovel" launchpad service, creating a full supply chain for project issuance and trading. Similarly, PixelSwap introduced weighted pools and LBP launches on TON.

Microcosm Labs and TonUP also collaborated on the "Move to TON" grant program to attract quality projects. Their portfolio includes SocialFi, GameFi, and AI initiatives.

Other Microcosm Labs projects include:

TOP Labs, on the other hand, has built foundational tools like:

While TON’s tooling isn’t as mature as Ethereum or Solana’s, teams like TOP Labs and Microcosm Labs complement each other—the former focuses on core infrastructure, the latter on niche solutions. This diversity enriches the ecosystem, supporting both large benchmarks and smaller innovative projects.

Frequently Asked Questions

What is the TON Open League?
The Open League is a periodic competition organized by the TON Foundation to incentivize ecosystem growth. It highlights promising projects through rankings based on user engagement, transaction volume, and other metrics. Participants gain visibility and rewards.

How can I identify promising projects in TON?
Watch the Open League rankings for consistently top-performing projects. Focus on those with clear use cases, active communities, and partnerships within the ecosystem. DeFi and utility tokens with sustainable models tend to have longer-term potential.

What role do partnerships play in TON’s ecosystem?
Collaborations are crucial in TON’s environment. Many projects partner to share resources, combine functionalities, and amplify marketing efforts. This interconnectedness helps smaller projects gain traction and accelerates overall ecosystem development.

Is TON suitable for long-term investment?
TON has demonstrated strong fundamentals and strategic growth planning. However, like any crypto investment, it carries risk. Diversify across asset types, stay updated on ecosystem developments, and consider both fundamental value and market trends.

How does TON compare to other layer-1 blockchains?
TON leverages Telegram’s vast user base for adoption, giving it a unique edge in user acquisition. Its high circulation rate and full流通 concept differentiate it economically. While younger than Ethereum or Solana, it shows rapid growth and innovation.

When is the next Open League season?
The sixth season is expected in September. It may introduce new categories or incentives, providing fresh opportunities for projects and investors. Keep an eye on official TON channels for announcements.

Conclusion

The TON Open League acts as a showcase for the ecosystem’s most dynamic projects. It concentrates attention, attracts talent, and provides a clear window into value trends. For anyone interested in TON, observing these competitions offers a practical filter for short-term opportunities and long-term bets.

The number of ecosystem projects has doubled in just five months, exceeding 1,000. Tokens, games, GameFi, and DeFi applications are all growing steadily. This expansion, supported by dedicated builders and strategic programs, creates a stable foundation for value capture.

As the sixth season approaches in September, new opportunities will likely emerge. Whether you’re a developer, investor, or enthusiast, TON’s evolving landscape deserves attention.

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