Tone Foundation launches $25 million cryptocurrency startup accelerator program

revealed TON Foundationwhich manages The Open Network (TON) Blockchain, announced a new accelerator program for startups, allocating up to $25 million to sponsored projects this year.

Also read: China intensifies its pilot program for the “digital yuan”

The financing provided by the Fund will be channeled Toncoin (Environmental Fund of $250 million) to major projects in a variety of fields, with a particular focus on Decentralized Finance.

Financing crypto projects

The selected projects will be financially supported by the Acceleration Partners, which consist of:

  • GotbitIt is a hedge fund, market maker, and provider of trading and risk management solutions.
  • Web3port: developer of tools that connect startups and shareholders Web Web3.0.
  • Tonstarter: the primary platform for fundraising on TON blockchain.
  • TEB: It is an incubator for developers Web3 It is based in South Korea.
  • Cypher CapitalIt is a multi-strategy crypto investment firm, based in the United Arab Emirates.
Tone Foundation launches $25 million cryptocurrency startup accelerator program

In turn, the head of the development program commented TON Foundation, Justin Hyun:

“We are excited to announce a programme TON AcceleratorOur system continues to evolve and attract new talent.”

“This is the beginning of many different incubators, which will be supported in the future, as funding is part of our strategy to roll out local hubs, and our ecosystem will work to attract new developers, as well as successful founders, across a variety of key global locations.”

In a related context, the Chairman of the Board of Directors said Cypher Capital, Bill Qianthat what the program does TON Acceleratoris to adopt the principle of the incubator, which is famous in the system Web2 Refine and develop it, using the best protocols Web3 ways of working, and we are excited to play our part in this next generation programme.

Also read: United States: The trial of a Russian accused of running ransomware and money laundering

Mention that it was created TON Initially, by the developer team of Telegramand has been running as an open source community project since 2020.

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