TON blockchain has recently integrated Injective (INJ) and Pyth Network (PYTH), further expanding Telegram’s Web3 reach and showcasing the evolution of open finance.
These strategic partnerships leverage the unique strengths of each network to enhance the DeFi sector.
TON Blockchain Collaborates With Injective and Pyth Network
The integration of TON blockchain with Injective allows for seamless bridging and utilization of INJ tokens within The Open Network ecosystem. Additionally, users can now access TON across Injective’s decentralized applications (dApps).
“This integration will bring new asset opportunities to both communities and introduce a range of innovative utilities. Users can now utilize INJ and TON for trading, asset tokenization, and on-chain lending,” announced Injective.
Injective protocol serves as a decentralized derivatives exchange offering a variety of financial products such as synthetic assets, futures, and perpetual swaps. By partnering with TON Blockchain, Injective aims to broaden its user base and provide a secure and scalable trading platform.
On the other hand, the collaboration between Pyth Network and TON blockchain will see the integration of the PYTH oracle service into TON. Pyth Network is a decentralized oracle network that provides real-time and high-quality data feeds to dApps and smart contracts.
This integration will enable developers to access accurate price data for their DeFi projects, enhancing the efficiency and reliability of dApps on the platform. With Pyth Network’s presence on TON Blockchain, developers can expect improved support for their blockchain-based games.
Originally designed for the Solana blockchain, Pyth Network operates across multiple blockchains including Ethereum, Optimism, Arbitrum, Base, and now TON. This collaboration will help TON attract new Web3 users by providing market data for various asset classes.
The convergence of TON blockchain’s infrastructure with Injective and Pyth Networks will offer users improved liquidity and enhanced security for their DeFi activities.
TON’s Vision for a Decentralized Interconnected Digital Ecosystem
This collaboration will open up new opportunities for developers, traders, and investors seeking to leverage the benefits of DeFi. With seamless interoperability between networks, users can access a wider range of financial products and reliable market data, leading to a more efficient trading experience.
The TON ecosystem continues to demonstrate significant growth potential, contributing to a more decentralized and interconnected digital ecosystem.
As a result of this growth, TON blockchain’s total value locked (TVL) has surged by 4226% in 2024, indicating increasing interest and investment in The Open Network.
TON Blockchain TVL, Source: DefiLlama
Amidst this growth, TON blockchain has attracted investments from Pantera Capital, further solidifying its position within the Telegram user base.
In addition, Tether, the issuer of USDT, announced a collaboration with TON in April. This partnership, which includes Oobit, aims to provide global crypto transactions and financial solutions to unbanked populations, promoting a borderless financial system through decentralized technology.
