TON Blockchain’s TVL Reaches $721.78M With Leading Projects

The Open Network (TON) blockchain continues to grow significantly, with over $721.78 million locked across its top projects. Tonstakers accounts for $211.10 million, securing its position as the most dominant staking project on the network. Other significant contributors include STON, SCALE, and Bemo.

TOP 10 #TVL ON #TON

#Tonstakers $STON $SCALE #Bemo #Cygnus $EVA #Stakee $STORM #Hipo $MEGA pic.twitter.com/aoe3IdR8vl

— PHOENIX – Crypto News & Analytics (@pnxgrp) October 8, 2024

TON’s Leading Projects by TVL

Tonstakers holds a 27.30% share of the total value locked (TVL), indicating the growing demand for staking services on the TON network. STON follows closely with $187.60 million TVL, offering decentralized exchange (DEX) services that cater to a wide range of traders. Moreover, SCALE secures third place with $152.26 million TVL, further emphasizing the importance of decentralized finance (DeFi) on TON.

In addition to these prominent players, Bemo, Cygnus, and EVA are among the top 10 projects, collectively contributing to the network’s TVL growth. Bemo, with a TVL of $77.06 million, is a DEX project, while Cygnus focuses on decentralized applications (PWAs) and holds $52.80 million in locked assets. On the lending side, EVA boasts a TVL of $32.15 million, offering users diversified lending options on TON.

Other Major Contributors

Several other key projects, including Stakee, STORM, and Hipo, contribute to different areas of decentralized services. Stakee ($24.81 million) and STORM ($24.74 million) focus on staking and derivatives, respectively, while Hipo adds $7.67 million TVL from its DEX operations. MEGA, rounding out the top 10 with $1.94 million, contributes as a growing DeFi project.

These projects showcase a wide range of services in the TON network, from decentralized exchange to staking and lending services. VTX has graciously mirrored the progression of the network as TVL rises to indicate emerging applications of TON in the decentralized finance industry and so much more.

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