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[6:06 PM · Nov 11, 2024] – TAC, a TON Network extension, has successfully raised $6.5 million in a seed funding round to bring the power of Ethereum Virtual Machine (EVM) applications to Telegram's massive user base of over 700 million. This groundbreaking initiative aims to seamlessly integrate the Ethereum and TON ecosystems, unlocking unprecedented opportunities for developers and users alike.
Bridging Two Worlds: Ethereum and TON
TAC acts as a bridge between the Ethereum and TON blockchains, allowing developers to deploy existing Solidity-based dApps on TON without any code modifications or re-auditing. This seamless integration opens the door for a vast array of applications, including Decentralized Finance (DeFi) protocols, Non-Fungible Tokens (NFTs), and other Web3 services, to be accessible directly within the Telegram app.
Key Benefits of TAC:
- Simplified EVM Deployment: Deploy Solidity-based apps on TAC without code changes.
- Telegram Integration: Transform dApps into Telegram Mini Apps leveraging TON wallet integration.
- Massive User Base: Instant access to over 700 million Telegram users.
- Effortless UX: Automated cross-chain messaging and asset bridging for a simplified user experience.
- Enhanced Self-Custody: Streamlined management of TON and Ethereum assets.
Funding and Strategic Partnerships:
The $6.5 million seed round was led by prominent web3 venture capital firms Hack VC and Symbolic Capital, with participation from Primitive Ventures, Paper Ventures, Karatage, Animoca Ventures, Spartan Capital, TON Ventures, and Ankr. Angel investors, including Polygon co-founder Sandeep Nailwal, also contributed to the round. This impressive roster of investors brings not only financial backing but also invaluable industry expertise and strategic guidance.
TAC's Vision and Leadership:
TAC's founding team comprises members of TON venture builder TOP (The Open Platform) and Curve creator Michael Egorov. This combination of experience in both the TON and Ethereum ecosystems positions TAC for success in bridging these two powerful networks. CEO Pavel Altukhov expressed excitement about the project's potential, stating, "We’ve seen incredible levels of interest from developers… We’re excited to be debuting the public testnet at DevCon 2024 and showing developers the 950 million reasons why they should build on TAC.”
Development Roadmap and Future Plans:
TAC launched its public testnet at DevCon 2024, a major event for the blockchain community. The mainnet launch is scheduled for Q1 2025. The funding will be used to scale marketing and developer relations, further develop the technology, and simplify self-custody solutions. Future plans include connecting various EVM applications across DeFi, GameFi, SocialFi, and Real-World Assets (RWAs).
Impact on the Crypto Market:
TAC's integration of EVM with TON has the potential to significantly impact the crypto market by:
- Increasing User Adoption of DeFi and Web3: In-app access to DeFi and other Web3 services will lower the barrier to entry for millions of Telegram users.
- Expanding Reach for Ethereum Projects: Ethereum developers gain access to a massive new audience.
- Driving Cross-Chain Interoperability: TAC's bridge may inspire further cross-chain integrations, fostering a more interconnected blockchain ecosystem.
About TAC:
TAC is a TON Network extension that enables EVM dApps to access the vast Telegram user base. It simplifies building on TON, connecting Ethereum's developer community and applications directly with the TON blockchain.
About TON (The Open Network):
TON is a high-speed, scalable blockchain designed to support a wide range of applications, including decentralized messaging, payments, and data storage.
Compiled by CMO Intern team
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