TON Foundation Forms Partnership with Jupiter for New DEX Aggregator on TVM

The TON Foundation has formed a new partnership with Jupiter to incubate a new DEX aggregator on the TON Virtual Machine (TVM).

This collaboration aims to improve the aggregation of liquidity on TON, leveraging Jupiter’s expertise in decentralized trading platforms to enhance scalability and unlock new interchain trading opportunities in the DeFi sector.

Users will be able to find the best rates and access liquidity across blockchain networks while developers and traders will gain new tools to thrive in DeFi.

To celebrate the launch of this partnership, TON Foundation and Jupiter are initiating a DeFi contest to promote innovation within the TON ecosystem.

DeFi Contest to Promote Innovation

This partnership includes a DeFi contest aimed at fostering innovation through participant competition. From now until March 15, 2025, developers can submit their ongoing or in-development aggregation projects.

Winners will be announced on March 31, 2025, receiving significant prizes, including:
1. Advisory support from Jupiter on go-to-market strategies and liquidity management.
2. Funding resources from the TON Foundation aimed at accelerating project growth within its ecosystem.

Vlad Degen, DeFi Lead of the TON Foundation, commented:
> “We are excited to collaborate with Jupiter as we continue to expand the DeFi ecosystem of TON. Our past collaboration with other partners motivated us to pursue this partnership, which we believe will bring immense value to TON.”

Price of TON and 2024 Performance

As the TON Foundation explores new DeFi opportunities, the price of TON has seen remarkable growth, valued at $5.56, up 132% year-over-year. In June 2024, TON reached a new all-time high (ATH) of over $8.

The network has also experienced a surge in USDT stablecoins, growing from less than 100 million issued in April to over 1.4 billion by December, with 1.2 billion already in circulation. Furthermore, the beta phase for TON Space, an integrated solution for custody and self-custody within the Telegram wallet, has concluded.