- TON’s TVL stabilizes at $248M with $USDT supply exceeding $1.43B.
- TON ecosystem will grow from 10 to 50 DeFi projects in 2024.
- Mini apps and incentive programs drive user engagement and liquidity.
The TON blockchain ecosystem showed robust growth in 2024, driven by its expanding decentralized finance (DeFi) offerings, native $USDT integration, and the rise of mini apps. After reaching an all-time high of $740 million in total value locked (TVL) this July, TON stabilized at $248 million, becoming a prominent player in the blockchain space.
While the TVL dropped from its early peak, the TON ecosystem has an abundant $USDT supply of over $1.43 billion. This accounts for 25% of decentralized exchange (DEX) trading volume. On-chain data shows daily active users are steady at 1 million, and the DeFi space now has 50 active projects, up from 10 in early 2024.
TON Aims for $1B+ TVL in 2025
The introduction of native $USDT and an aggressive incentive program on TON in April 2024 fueled a surge in TVL, climbing from $537k in January to $740M by July. However, the ecosystem’s limited yield-generating opportunities and liquidity management issues caused TVL to fall to its current $248M.
Read also: TON Blockchain Growth Surges: Daily Active Users Exceed 5 Million
Despite these challenges, TON is expanding its DeFi ecosystem with new initiatives, including stablecoin liquidity programs, stable swaps, and TON-focused concentrated liquidity market makers like Tonco_io.
One user shared their excitement about these developments on X:
“We’ve gone far beyond having just 2 DEXes on ton_blockchain and Tonco_io has become the first concentrated liquidity market maker on TON. I literally just hopped off a call with them. Gosh, the roadmap is impressive indeed.”
In addition to that, the Open League incentive program has grown, with participation doubling in its latest season. With a diverse ecosystem of DeFi protocols, better liquidity management, and strong support from VCs, TON is aiming for a $1B+ TVL in 2025 with more stablecoins, bridges, and innovative DeFi solutions.
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