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CDS Startups Tonstarter Raises $1.5 Million

Startups

Tonstarter Raises $1.5 Million

Burak DANACI10/03/20231 Mins read492

Tonstarter

Ton Fundraising Platform Tonstarter announced that it had raised $1.5 million in seed round funding!

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Tonstarter Raises $1.5 Million in Seed Round

In the past weeks, Tonstarter had launched a seed funding round. The startup recently announced that it closed its seed round and raised a total of $1.5 million in seed funding.

Participants in the seed funding round, led by Kingsway Capital, included Gate.io, a globally known cryptocurrency exchange, and DWF Labs, a subsidiary of Digital Wave Finance (DWF), one of the world’s fastest-growing crypto trading organizations.

Tonstarter

Tonstarter is the primary fundraising platform within the TON ecosystem. Within the TON ecosystem, including DeFi, DEX, non-custodial wallets, lending and borrowing protocols, and the metaverse, support a variety of projects.

The project’s advisors include Tal Kol, TON ambassador and founder of Orbs, and Justin Hyun, TON Foundation incubation manager. In addition, projects incubated by Tonstarter will access Telegram’s app, opening up the social network’s 700 million user base. Commenting on this, Tonstarter founder Alex Plotvinov said:

“Imagine, even if only 5 percent of Telegram users started making payments to other users or playing Web3 games. That is already 35 million monthly active users, more than any other blockchain. This is why we intend to allow members of the Tonstarter community to connect to the Telegram bot.”

Tonstarter Raises $1.5 Million — Tonstarter Closes $1.5 Million Seed Round

TON Ecosystem

The TON ecosystem is a project that aims to unify the entire blockchain and Web2 Internet into a single open network. TON can be thought of as a massively distributed supercomputer, or more precisely, a massive super server that aims to host and provide various services. That is, it is a fast, secure, and easy-to-use decentralized system that allows anyone to create decentralized applications (dApps) and smart contracts on a single platform.

TON consists of the Ton blockchain, the Ton Virtual Machine (TVM), and several dApps and protocols.

Ton Virtual Machine (TVM)

TVM is a powerful execution engine designed so that developers can write smart contracts in a variety of programming languages.

PoS instead of PoW

The Ton blockchain is based on the Proof of Stake (PoS) consensus mechanism, which is more energy efficient and reliable than the traditional Proof of Stake (PoW) mechanism.

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Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.