The Free TON DeFi Alliance creates the necessary infrastructure to attract and maintain strong teams and projects, attracts liquidity from other projects to Free TON and creates partnerships with major companies with large amounts of liquidity and/or a large number of transactions.
Free TON DeFi Alliance Forms
Free TON DeFi Alliance is a new organization of like-minded people and businesses who share a common goal – to create an environment for substantial and sustainable Free TON DeFi ecosystem growth. The Alliance’s declared goals and focus are centered around economical aspects of the Free TON DeFi ecosystem: liquidity accumulation, new partner businesses engagement, bringing new projects and products to be built in Free TON blockchain, marketing and promotion, and new development teams support. The Alliance, also, sets a goal to become a security and auditing center of expertise, which is very important in the DeFi field.
The Alliance set up a partnership with the Free TON Community to lead the decentralized finance ecosystem growth of TON blockchain. For its side of the partnership, the FreeTON Community allocates tokens for liquidity into current and future DeFi products such as bridges, DEXes and more.
The Alliance members include Warp Capital, BR capital, BitScale and several private investors. These initial members provided liquidity of $500,000, which is proposed to be allocated on activities that would drive up the mass adoption of the Free TON DeFi ecosystem.
Growing DeFi Landscape Changes Fast
The DeFi market has shown x20 growth in one year with the major part of projects being built on the Ethereum blockchain. However, the quickly expanding user base started to create network overloads and drove the ETH gas price to the sky. This is now a huge turn-off for retail users.
This is where the partnership idea has come up – the underlying technology of Free TON can decrease fees and enable several mechanics like cashback for liquidity transferring from Ethereum to TON Blockchain.
The whole DeFi market is rapidly changing and evolving. Twenty-fold market cap growth wasn’t done solely by ETH Blockchain efforts. Binance Smart Chain, TRON, Cosmos, Polkadot – all have rock solid market positions, and have shown huge growth and acquisition of DeFi users, so it seems that it is very important to be quick and focused for both the Alliance and Free TON Community mutual efforts to provide a part of the market.
Currently there are several DeFi products in Free TON blockchain: recently ETH-TON bridge was released and the first TON-based decentralized exchange (DEX) is in beta-stage.
Similar organizations have already been created in the DeFi field. One of the most successful among these – DeFi Alliance – counts more that 60 companies among its members. Its members want to “grow DeFi to one billion users globally by 2025.”
About Free TON
Free TON is a community powered movement for a free and open decentralised internet. It’s a next-gen blockchain technology that belongs to no one and to everyone at the same time. The network does not have an owner or centralized management that decides what should be done or when, nor what tools or projects should run on it. Instead, Free TON practices decentralized governance principles empowering the community to engage, contribute and make decisions.
Technology-wise Free TON is the first multi-threaded, multi-sharded, highly scalable blockchain with low latency. It has an advanced Proof-of-Stake consensus and a versatile smart contract platform supporting several high level computer languages such as Solidity, C and C++. Free TON promotes a unique concept of End-to-End Decentralization which essentially moves DNS servers and storage on-chain, i.e., a decentralized backend. When this future development will be completed all data and privacy will be absolute.
To learn how Free TON was born out of the abandonment of the the Telegram Open Network by the private messaging giant Telegram due to the U.S. SEC, read Free TON, From an Abandoned Project to the Frontier of PoS Networks.
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Author: Bitcoin.com PR