Each idea that builds on TON and has an MVP will receive an investment from the accelerator ranging from $50,000 to $250,000.
TON, a layer-1 blockchain created by Telegram, revealed a $25 million fund on May 22 under the name “TON Accelerator Program.” The program attempts to offer funding, alliances, and mentoring to initiatives based on the TON ecosystem.
The TON Accelerator Program will provide funding opportunities for participants by investing between $50,000 and $250,000 per business. Along with the cash support, beneficiaries will get helpful partnerships and advice from TON’s knowledgeable team.
Focus on DeFi and Incubating Hackathon Participants
Initial financing will go to initiatives that took part in a recent TON hackathon, with a focus on developing decentralized financial (DeFi) businesses. The requirements for building on TON, having a minimal viable product (MVP), and seeking support in fields including marketing, business development, and technology must all be met by eligible projects.
By starting the TON Accelerator Program, TON hopes to actively encourage unique initiatives as they grow and advance throughout the ecosystem. The development of innovative initiatives within the TON community will be facilitated by the financial resources of the fund together with collaborations and mentorship.
“Proof-of-concept or prototype teams that require greater technical support should apply for earlier-stage grants,” TON’s developers specified.