KEY TAKEAWAYS
- The Open Network Foundation partners with Jupiter to enhance liquidity aggregation on the TON Blockchain, aiming to advance DeFi capabilities.
- Jupiter will implement a DEX aggregator on the TON Virtual Machine, providing optimal rates and liquidity access across blockchain networks.
- A DeFi competition launched by TON and Jupiter encourages innovation, offering rewards and support to winning projects within the TON ecosystem.
- Participants in the competition will receive advisory support and resources to accelerate their DeFi projects, with winners announced in February 2025.
The Open Network Foundation, a non-profit organization focused on advancing the TON Blockchain, has announced a new partnership with Jupiter, a prominent decentralized trading platform. This collaboration aims to enhance liquidity aggregation on the TON Blockchain and facilitate cross-chain swap integrations, potentially shaping the future of decentralized finance (DeFi).
Jupiter, known for its expertise in decentralized exchanges (DEX) and its active decentralized autonomous organization (DAO), will work with TON to implement a DEX aggregator on the TON Virtual Machine (TVM). This initiative is expected to provide users with optimal rates and access to liquidity across various blockchain networks, empowering developers and traders within the DeFi space.
Driving DeFi Innovation Through Competition
As part of this partnership, the TON Foundation and Jupiter have launched a DeFi competition to encourage innovation within the TON ecosystem. The competition invites both existing and in-development aggregation projects on TON to participate and compete for substantial rewards.
Winning projects will receive advisory support from Jupiter, including insights on go-to-market strategies, route optimization, and liquidity management. Additionally, the TON Foundation will offer resources and funding to accelerate the growth and adoption of these projects within the TON ecosystem.
The competition is currently open, and winners will be announced on February 15, 2025. Participants are required to present their DeFi solutions, showcase features, and engage with the community. Teams interested in participating can submit their applications via the form provided here.
Meow, Co-founder of Jupiter, expressed enthusiasm for the initiative, highlighting the potential of the TON Blockchain. Vlad Degen, DeFi Lead at TON Foundation, also noted the value this collaboration brings to the TON DeFi ecosystem, emphasizing the importance of expanding cross-chain capabilities.
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