Inside TON Gateway 2024 in Dubai where Telegram’s largest blockchain ecosystem unveils new pathways to mainstream adoption
Victoria d’Este
Posted: November 4, 2024 10:29 AM Updated: November 4, 2024 10:29 AM
Correction and fact check date: November 4, 2024, 10:29 AM
briefly
The TON Gateway 2024 event at Grand Hyatt Dubai gathered 1,500 attendees to showcase Telegram’s potential to integrate blockchain into everyday life.
The TON Gateway 2024 event, held at Grand Hyatt Dubai from 1 to 2 November, attracted an unprecedented 1,500 attendees from the blockchain and cryptocurrency community. This event demonstrated the TON community’s goal to leverage Telegram’s massive user base to effectively integrate blockchain into everyday life. Featuring passionate panels, key announcements and strategic updates, the conference highlighted TON’s evolution as the Web3 gateway for millions of Telegram users.
A brighter future for Tether and TON’s Dirham-pegged Stablecoin
Tether’s intention to introduce a dirham-pegged stablecoin to the TON network was one of the statements made during the event. By facilitating safer and more seamless financial transactions in the MENA region, this new stablecoin hopes to increase the utility of TON. Integrating location-specific stablecoins makes it possible to build TON into a financial ecosystem that responds to local needs while striving for global reach.
Updates to TON’s Telegram integrated wallet were also showcased at the event. TON Space now offers a single interface for users to interact with cryptocurrencies via Telegram. Users can easily trade, stake, and access a variety of decentralized apps through an iteration of the TON wallet within the well-known Telegram platform. With over 100 million Telegram users currently connected to TON Space, the network is positioned to bring the power of Web3 directly into users’ daily lives.
Leadership Insights and the Path to 500 Million Users
Leading TON Foundation representatives spoke at the Gateway 2024 event about TON’s roadmap and the technical challenges of growing the decentralized ecosystem to 500 million users. Steve Yun, Chairman of the TON Foundation, and Jack Booth, Co-Founder of the TON Society, discussed the challenges of balancing scalability and decentralization. The conversation reaffirmed TON’s commitment to building a blockchain that scales responsibly without compromising usability or performance.
A panel on TON’s strategy for GameFi and memecoin also explored the topic of scaling and decentralization. Alena Shmalko of the TON Foundation spoke about how memecoins encourage community participation and provide a unique entry point for those new to cryptocurrencies as they become a significant cultural and financial force. The emphasis on fun and community building demonstrates TON’s approach to attracting users through an accessible and engaging format.
TON GameFi and MiniApps: Drive user engagement through interactive experiences
TON’s mini-app ecosystem was another important focus of the event, with well-known mini-apps such as Catizen and Hamster Kombat demonstrating their ability to attract and retain a broad user demographic.
TON’s mini apps are designed to make Web3 more accessible by providing an engaging game-like experience suitable for a wide range of users. Representatives of key Animoca brands discussed TON’s intention to expand GameFi’s offering by implementing gamified DeFi apps that combine financial participation with a fun and user-friendly format.
Projects like Telegram Stars generated $52 million in revenue in just four months, showing how successful these mini apps are in driving engagement and revenue. The Gateway event demonstrated how TON’s mini apps, which prioritize quality, engagement, and in-app revenue, will be a critical strategy for acquiring and retaining users.
Ongoing partnerships with leading gaming companies complement this strategy, positioning TON to add well-known, top-tier titles to the ecosystem and enhance the user experience beyond simple revenue streams.
Integration of Stablecoins and DeFi Extensions
TON is focusing more on advancing DeFi as its user base and reach grow. Significant collaborations with Chainlink, LayerZero, Axelar, and Pyth Network bring critical DeFi elements such as oracles and cross-chain bridges to the ecosystem, facilitating safe and reliable asset transfers. A solid foundation for stablecoin and Bitcoin acceptance within the ecosystem will be established through the introduction of dirham-pegged stablecoins along with Tether and the upcoming TON Teleport BTC.
The goal of these improvements is to secure institutional liquidity and create new avenues for regular users interested in decentralized finance. According to the discussion, TON’s stablecoin push and BTC integration, a DeFi-enabled blockchain that easily integrates with the existing financial sector, will be a huge attraction for those looking for financial flexibility and security.
dApp connection and Wallet UX development
The introduction of TON Space, an evolution of the Telegram integrated wallet that provides a simple and user-friendly interface for users to interact with the TON ecosystem, was one of the highlights of the conference. TON Space aims to streamline on-chain activities including incentives, staking, and access to decentralized apps through the Telegram app. Users can now acquire, transact, and interact with Web3 without leaving Telegram thanks to direct access to dApps, meaning a transformation of the user experience.
By allowing users to easily switch between Telegram’s social features and TON’s financial features, TON Space’s simplified user interface improves accessibility while strengthening user retention. With the widespread adoption of blockchain within Telegram’s global user base, these connections are essential to TON’s goal of putting cryptocurrency in everyone’s pocket.
TON’s role in Web3 adoption
TON Gateway 2024 highlighted the network’s goal to leverage Telegram as a springboard for blockchain adoption by fusing a strong decentralized technology ecosystem, friendly community, and solid partnerships.
The TON ecosystem is well-positioned to introduce Web3 to the general public, with projects ranging from GameFi and DeFi to memecoins and stablecoins. The event demonstrated that TON’s future is not only ambitious, but also based on a well-defined plan to bring millions of people into the Web3 era and integrate blockchain technology into common digital interactions.
The passion, knowledge and innovation showcased at TON Gateway 2024 solidified TON’s position as a leader in the widespread adoption of Web3, paving the way for even greater achievements to come.
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About the author
Victoria is a writer covering a variety of technology topics, including Web3.0, AI, and cryptocurrency. Her extensive experience allows her to write insightful articles for a wider audience.
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Victoria d’Este
Victoria is a writer covering a variety of technology topics, including Web3.0, AI, and cryptocurrency. Her extensive experience allows her to write insightful articles for a wider audience.