HomeBlockchainTON blockchain: a new layer-2 based on the Polygon stack is coming

TON blockchain: a new layer-2 based on the Polygon stack is coming

According to what was announced on Tuesday by the “Ton Applications Chain” (TAC) project during the EthCC event in Brussels, an L2 on the TON blockchain, compatible with EVM and powered by Polygon’s CDK, will be launched soon.

The Ton Foundation immediately clarified, however, its non-involvement with the development plans, as being a decentralized organization it does not manage any cryptographic product.

Let’s see all the details below.

New layer-2 coming for the blockchain of TON: essential the CDK stack of polygon

Yesterday, during the Ethereum Community Conference (EthCC) in Brussels, the TON Applications Chain (TAC) project revealed the imminent arrival of a new infrastructure.

Let’s talk about a new blockchain layer-2 built on the TON ecosystem and powered by Polygon’s CDK technology.

The project in question, supported by the founder of a liquid staking protocol operating on the Open Network, acts independently on the cryptographic development side.

The new layer-2 will have the peculiarity of EVM compatibility, making it directly interoperable with the blockchain of Ethereum.

A second-layer network in this case does not intend to solve the scalability problem of TON, which can execute up to 104,715 transactions per second.

Rather, it will be useful to enhance the DeFi environment of the TON ecosystem, driving the creation of a wide range of decentralized applications.

As mentioned, the L2 of TON Applications Chain (TAC) will use the customizable toolkit of Polygon CDK in order to unlock new connections.

In particular, this stack enables the creation of an L2 based on zero-knowledge proofs integrated with AggLayer, in order to offer maximum interoperability between networks.

Furthermore, this new infrastructure solves the problem of liquidity fragmentation unifying more resources around the TON ecosystem.

In this regard, in a recent interview, the founder of TAC Pavel Altukhov described the partnership with the Polygon team as follows:

“We chose to base ourselves on the Polygon ecosystem for its EVM compatibility, the perfect availability of liquidity from EVM chains via AggLayer, the full support for distribution and the EVM experience of Polygon. The vibrant community surrounding Polygon was also a crucial factor in our decision.”

The TON Foundation clarifies its non-involvement with the project

The introduction of L2 TAC in collaboration with Polygon represents a great step forward for the development of the blockchain environment on TON.

Ethereum developers will now be able to build successful applications on TON without having to learn a new programming language and without specific libraries. 

According to industry experts, this layer-2 could bring more innovations to the social media network Telegram, integrating new gaming and decentralized identity solutions.

In any case, it is essential to point out that, despite the ambitious plans, this project is not directly sponsored by the TON Foundation

TAC is an independent third-party entity that is building an additional network on TON without receiving support from the Foundation.

To clarify this aspect, it was directly the team of the leading organization of Telegram’s blockchain, which generally does not handle the development of any product.

We cannot therefore say that TON is launching a layer-2 EVM compatible, but rather that a third party is developing a similar infrastructure supported by TON.

The programming language of TON therefore continues to be FunC and Tact, without direct connections to the external blockchain world.

Those who want to try their hand at developing EVM dapps on TON will have to rely on an entity not directly involved with the Foundation, and therefore with fewer guarantees.

In any case, we cannot help but be enthusiastic about this news, as it amplifies the potential web3 connections and improves the efficiency of liquidity on TON

Still positive numbers for the blockchain of TON

The blockchain di TON continua a stampare numeri molto positivi.

In January 2024 the sum of the capital blocked within the infrastructure amounted to only 14 million dollars, while today it counts 731 million.

We are talking about a monstrous increase of over 50 times the funds available at the beginning of the year.

Only in the second quarter, from April to June, it added a whopping 600 million dollars of TVL, bringing the chain to climb the rankings of DefiLlama.

At the moment TON represents the tenth richest chain in the sector, behind Avalanche, Polygon, and Blast.

The credit for these achievements is attributed to the successful applications developed within the Telegram ecosystem.

In particular, the trend of tap-to-earn mini-games like Hamster Kombat and Notcoin has contributed to creating engagement for the entire TON cryptographic industry.

ton blockchain tvl defi
Source: https://defillama.com/chain/TON

To highlight, furthermore, how from March onwards the blockchain has attracted a significant on-chain volume.

In just 3 months from the beginning of 2024, the weekly average of the volume traded on the chain has quintupled, going from 200 million to 1 billion dollars.

At the same time, the price of the crypto TON also increased significantly during the same period, going from 2.4 dollars to over 5 dollars.

Today the metric is around its historical maximum with volumes hovering around the threshold of 1.2 billion dollars (SMA 7)

It is clear that if TON continues to improve its UX, integrating new solutions to interoperate with external blockchains and attract activity, its numbers can only continue to grow.

The launch of the layer-2 TAC connected to Polygon could be one of those events that will move a lot of investment capital.

Source: https://cryptoquant.com/analytics/query/66474d91f3cac64b853dbeef?v=6647a624a77a9f32aefa02b8
Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.