TON Accelerator and Mantle have launched Synergy, an interoperability solution that integrates a $5 million grant program to drive interconnection and growth in the DeFi ecosystem.
The new Synergy solution is an initiative launched to foster collaboration between The Open Network (TON) and Mantle, a scalability solution compatible with the Ethereum Virtual Machine (EVM).
The developers commented that this new solution includes a grant program, which has a $5 million fund, aimed at supporting the development of projects that integrate the TON network with Mantle, offering technical and marketing support to eligible projects.
In this coin, Synergy is focused on developer collaboration with the vision of unlocking new markets, increasing liquidity and promoting innovative advancements in key sectors of the Web3 ecosystem, such as decentralized finance (DeFi), blockchain gaming and Artificial Intelligence (AI).
Synergy seeks to boost blockchain interoperability
With Synergy, TON Accelerator aims to address one of the main challenges of the blockchain ecosystem: interoperability.
In the case of the TON network, its lack of compatibility with the EVM ecosystem has limited its liquidity and development opportunities. Therefore, this solution was designed to support projects seeking to build bridges between the Toncoin network and Mantle, allowing TON users to access the capabilities of the Ethereum ecosystem through the EVM.
Sophia Rusconi, Head of Acceleration at TON Accelerator, said that this collaboration is not just about joining forces, but about “Unlock new markets, deep liquidity, and innovative advancements in DeFi, AI, and gaming«.
Furthermore, with the ability to access over 950 million Telegram users and activate up to $90.000 billion in cross-liquidity, Synergy is emerging as a key platform for the growth of projects in the Web3 space.
A strategic ally in the DeFi space
The choice of Mantle as a partner for the development of this solution is no coincidence. With over $1.300 billion in locked value and a focus on the growth of DeFi, Mantle has become a major player in the Layer 2 blockchain ecosystem. The platform hosts a variety of decentralized exchange (DEX) protocols and autonomous lending projects, making it an attractive environment for the initiatives Synergy is seeking to boost.
One of the highlights of Mantle is its ecosystem of mETH, which has been instrumental in increasing activity within the network. Additionally, Mantle operates as a decentralized autonomous organization (DAO), allowing for more democratic and participatory governance. This structure not only ensures the sustainability of the ecosystem, but also fosters innovation through the active participation of MNT token holders.
New opportunities for innovative projects on TON and the EVM ecosystem
Projects wishing to participate in Synergy can benefit from direct funding, as well as support in crucial areas such as product design, technical integration, and marketing strategies. This comprehensive approach is designed to help developers navigate the complex blockchain landscape and maximize their potential for success.
Among the eligibility criteria, the developers of the solution commented that they seek to encourage initiatives that are not only focused on the DeFi ecosystem, but also include cross-applications, games, and infrastructure solutions such as digital wallets and aggregators. However, the developers indicated that the grant program will exclude general DeFi applications that do not have cross-chain connections, underlining the importance of interoperability between TON and EVM.
Advice, mentoring and support for success
Applicant projects that are selected for Synergy will also be able to access a network of mentors and experts in the blockchain ecosystem. These include representatives from TON Ventures and the TON Foundation, as well as other experts in decentralized application (DApp) development. This access to knowledge and experience is invaluable for new projects, the developers of the solution said, as they will be able to benefit from the guidance of those who have successfully navigated the cryptocurrency ecosystem.
Synergy thus presents itself as a unique opportunity for innovators in the blockchain space, offering not only financial resources but also the support needed to take their ideas to the next level.
The launch of this new interoperability-focused solution marks an important step for TON in its quest to integrate into the broader cryptocurrency ecosystem.
With the growing demand for interoperability and cross-platform solutions, the collaboration with Mantle could open new avenues for growth and adoption of the Toncoin network, which is currently the 11th most capitalized cryptocurrency in the market, with a total value of $12.400 billion, according to data from CoinMarketCap.
