• TON introduces TON Teleport BTC to facilitate trustless Bitcoin transfers to the blockchain.
• The TON ecosystem, which is intently tied to Telegram, has seen a surge in DeFi adoption, with $745.96 million locked in belongings.
• The launch goals to speed up the expansion of DeFi on TON by consolidating Bitcoin liquidity and growing the utility of the ecosystem.

Telegram-affiliated Open Community (TON) is about to launch TON Teleport BTC, a trustless bridge designed to combine Bitcoin into the rising blockchain ecosystem, an effort that marks a major step in the direction of growing Bitcoin’s utility inside TON’s decentralized finance (DeFi) providers.

TON Teleport BTC runs on good contracts verified by TON blockchain validators, guaranteeing a safe and decentralized course of for transferring Bitcoin to the TON blockchain. Every transaction through Teleport BTC is backed 1:1 by native Bitcoin, defending the unique belongings whereas enabling customers to take part in varied DeFi actions resembling decentralized exchanges (DEXs) and lending platforms.

TON technical lead Anatoly Makosov highlighted the bridge's potential to open new alternatives for Bitcoin holders inside the TON ecosystem. The event comes amid TON's spectacular progress trajectory in 2024, additional accelerated by its new reference to Telegram.

The platform at the moment helps Telegram’s promoting rewards system, using TON’s native cryptocurrency to pay channel homeowners primarily based on visitors and viewer engagement.

Along with its reference to Telegram, TON can be gaining recognition within the social gaming world, with video games resembling Notcoin and Hamster Kombat having fun with immense recognition and attracting thousands and thousands of gamers.

Telegram founder Pavel Durov famous that Hamster Fight alone had greater than 239 million gamers by early July.

This progress has additionally prolonged to TON’s DeFi sector, the place complete locked worth (TVL) has surged from $22 million in February to $745.96 million by mid-July, as reported by DefiLlama. This vital enhance highlights the rising curiosity and funding in TON’s decentralized monetary providers.

The announcement of TON Teleport BTC marks a strategic transfer to additional develop TON's DeFi ecosystem by integrating Bitcoin's liquidity and person base. The TON Basis plans to deploy the bridge later this 12 months, however has not disclosed an actual launch date.