author:Sullivan

Key Summary

• TON started in 2018 and was originally called Telegram Open Network. In 2019, the project was sued by the U.S. Securities and Exchange Commission (SEC) for regulatory reasons, and the team subsequently abandoned further development of TON. After 2020, the New TON (TON Foundation) developer community took over and continued development, and renamed it The Open Network. In September 2023, the circulating market value of TON Token reached the top ten of crypto assets.

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  The technical feature of TON is heterogeneous multi-chain. Through the three-layer architecture of Masterchain, Workchain and Shardchain, multiple chains can process transactions in parallel, similar to aBlockchainA collection of blockchains, so it is also called a collection of blockchains or 2-blockchains. Through the work chain and dynamic sharding, TON's future goal is to carry a large user group and verify and process millions of transactions.

• The development of TON is mainly achieved through strong control of token prices and expansion of Telegram ecosystem. TON's technology is similar to past public chains such as Solana and ICP, and is not original. Its core advantage is its close integration with the Telegram ecosystem with 800 million MAU, making it a traffic entrance for a large number of Web2 users to enter the crypto ecosystem.

• Unlike other Layer1s, TON's development route does not rely on increasing the amount of TVL in the on-chain DeFi ecosystem, but rather uses Telegram payments, robots (TG Bot), mini-games, etc. as the main development track. Therefore, judging TON's valuation through the traditional Mcap/TVL on-chain asset lock-up calculation method may be less accurate.

• The TON Foundation announced that it will launch a self-hosted digital currency based on Telegram globally in November.wallet TON Space. TelegramwalletIt has been embedded for some time, and the recent changes mainly involve changing from the original custodial mode of the embedded Wallet to the non-custodial mode of TON Space.

• Based on the huge user base of Telegram itself, the explosion of the payment ecosystem combined with Telegram and TON is a high-probability event in the future. However, due to the problems of the early Pow mining model, the current TON Token chip distribution is too concentrated, and the mismatch between the circulating market value and the average daily transaction volume implies strong control. In the short and medium term, it is conducive to the stability of the currency price and the development of the project. In the long term, there are centralization risks and potential selling pressure.

1. TON Development History

In 2018, Telegram hopes to issue its owncryptocurrency, so he founded the Telegram Open Network project and raised $1.7 billion through ICO.TokenThe name is $GRAM. However, in October 2019, the US SEC accused it of illegal fundraising, so in May 2020, Telegram founder Pavel Durov publicly announced that he would give up the project.BlockchainProject TON and was fined $18.5 million by the SEC.

In May 2020, TON Labs, the technical R&D team of TON, announced that the code of the TON project would be open source and the development of the project would be terminated. It agreed to pay the SEC a settlement of US$18.5 million and return the raised funds to investors. Subsequently, a decentralized blockchain consisting of software developers, 13 validators and usersCommunity Free TON releases a forked version of “Free TON Blockchain”Blockchain, the token name is "Ton Crystals". However, the official Ton Crystals also stopped updating and development for a long time.

In May 2021, Telegram CommunityThe spontaneously formed New Ton developer community began to continue researching TON and promoting the development of the TON project. The project also changed from Telegram Open Network to The Open Network.TokenTON. Then, starting in November 2021, TON will be available on various platforms.exchange, the founder of Telegram publicly supports the TON project.

In August 2021, the TON/WETH trading pair will be launched on the decentralizedexchange Uniswap and start trading, and will be launched on other DEXs and major CEXs in the following Q4 and 2022 (Binance is still not online as of November 2023).

In November 2021, at the end of the last bull market, BTC rose to its highest point and then fell back. Subsequently, various Altcoins also began their last wave of explosive growth. The price of TON quickly rose from 0.8 USD to 4.5 USD and then fell back. In addition, the price of TON has remained relatively stable in the bear market, maintaining between 1-2.5 USD, and its market value has continued to rise.

In April 2022, TON Foundation announced the establishment of a $250 million ecosystem fund, the "TONcoin Fund", which received funding from Huobi, KuCoin, MEXC, 3Commas Capital, TON Miners, and Kilo Funds.exchange与机构投资。随后，TON Foundation 宣布为 Telegram 提供钱包机器人，意味着 Telegram 用户可以直接在 Telegram 中收发 TON 和兑换其它加密资产。

In July 2022, the TON Foundation established a new $90 million ecological fund, TON Alpha-Vista. Investors of the fund include VistaLabs, Alphanonce, Miner's Fund and Kilo Fund.

In September 2023, the short-term rapid rise in the price of TON coin attracted much attention in the market. At its peak, TON's circulating market value reached 9 billion US dollars, ranking ninth in the market value of all crypto assets.

虽然 TON 在前几年监管和法律方面遇到一些困难，但它获得了BlockchainandcryptocurrencyCommunityTON is designed to provide fast,SafetyTON aims to expand to millions of transactions per second and support a decentralized ecosystem.

2. Features of TON

1. TON’s technological uniqueness

TON solves the scalability and interoperability issues of blockchain through its multi-blockchain architecture. Specifically, TON’s technical features can be divided into the following aspects:

a. Multi-chain architecture:The TON blockchain is a collection of blockchains, consisting of a three-level architecture: the Masterchain, Workchain, and Shardchain (the maximum number of Workchains can reach 2^32, and other references mention that it is 2^92. I have checked the latest version of the white paper and believe that it should be 32. If it is inaccurate, please contact us for modification). The Masterchain is the main blockchain, containing all information about the protocol and current parameters, and the Workchain is the processing chain of intelligence.contractThe blockchain of transactions, the work chain is further sharded to become a shard chain. Through the work chain and dynamic sharding, TON can verify and process millions of transactions per second, quickly achieve large-scale scalability and interoperability regardless of the size of the network, and any two blockchains can instantly transmit messages.

Image source: CGV FoF (Reproduced by Zonff Partners)

The main chain and working chain on TON are heterogeneous multi-chains. Different working chains may have different "rules", that is, different account address formats, different transaction formats, different smartcontractVirtual machines (VMs), different basiccryptocurrencyEtc. But they all meet certain basic interoperability standards to make interoperability between different work chains possible and relatively simple. In this respect, the heterogeneity of the TON blockchain is similar to the EOS and PolkaDot projects.

The work chain and shard chain on TON are isomorphic multi-chains. Each work chain can be divided into up to 2^60 shard blockchains, or shard chains for short (other references mention that this is 2^64. The author has checked the latest version of the white paper and believes that this should be 60 times the power. If it is inaccurate, please contact us for modification). Its rules and block format are the same as the work chain itself, but it is only responsible for a group of accounts, depending on the first few digits of the account address. Since all these shard chains share a common block format and rules, they are isomorphic, similar to what is discussed in the Ethereum extension proposal.

b. Proof of Staking + Byzantine Fault Tolerant:The consensus algorithm used by TON is the same as that of Cosmos and Polkadot. According to the white paper, becoming a node does not require permission, only a certain number ofTokenand general IT operation and maintenance capabilities. There are four roles in the TON network: Validator, Nominator, Fisherman, and Collator. If a validator signs an invalid block candidate, it may be automatically punished, lose part or all of its stake, or be temporarily suspended from the validator set for a period of time; in addition, the support of the BFT consensus mechanism ensures that the consensus will not branch and is more suitable for a "tightly coupled" multi-chain architecture.

c. Anonymous protection of account privacy:TON Proxy (network proxy/anonymity layer), similar to I2P (Invisible Internet Project), is used to hide identity and create a decentralized virtual private network () to protect online privacy. For example, account nodes with a large number of tokens, or high-risk blockchain verification nodes that want to hide their exact IP address and geographic location to resist DDoS attacks will value this feature.

d. FunC/Fift/TACT:FunC is a programming language for the TON Virtual Machine (TVM). This domain-specific statically typed language is used to write smart contracts on the TON blockchain. In TON, FunC is usually not compiled directly to bytecode, but through another low-level Fift programming language. Just like FunC, Fift is another language designed specifically for the TON blockchain. Fift is a low-level language that is very close to the TVM opcodes, specifically designed for developing and managing TON blockchain smart contracts and interacting with the TON virtual machine. For most developers, FunC and Fift are both difficult, and the official has also launched a relatively easy TACT programming language for developers to use.

2. The difference between TON, ETH and Solana

The TON team wrote a paper specifically explaining the differences between TON, Solana, and Ethereum:

Image source: https://ton.org/en/analysis

a. Block and Finality Times

Users are usually concerned about transaction speed and the speed of the blockchain. The faster the blocks are built, the less time users have to wait for remittances and smart contract execution.

TON – TON generates a new block on each shard chain and the main chain approximately every 5 seconds. New blocks on all shard chains are generated almost simultaneously, while new blocks on the main chain are generated approximately one second later because it must contain the hash values of the latest blocks of all shard chains.

ETH – Ethereum consists of slots and epochs. A slot is a 12-second time interval during which validators can propose new beacon chains and shard chains. 32 slots make up an epoch (6.4 minutes), and there are specific rules that require at least 2 epochs for the final confirmation of a block, which means that it takes at least 12.8 minutes to confirm a block.

Solana – Solana claims to be able to produce a block per second or faster, but it has an extended block finalization time. A block is typically finalized after 16 rounds of voting, with each round expected to last about 400 milliseconds. This means a latency of 6.4 seconds.

b. Performance

Blockchain performance represents whether the platform is capable of handling large-scale smart contracts, which is very important for complex blockchain products such as DeFi, GameFi, and DAO.

TON – TON is a Turing-complete, high-performance blockchain that can accommodate any complex transactions on the main chain and all its working chains.

ETH – Ethereum only has a Turing-complete EVM on the Beacon Chain, and the network is limited to 15 transactions per second. The lack of cross-shard interaction means that other transactions cannot be executed in a truly decentralized environment.

Solana – Solana is Turing complete, but it only performs well for a few very simple predefined types of transactions (those that only change account balances and not state), and it only performs best when all account data fits in RAM (if it doesn't, there will be some problems).

c. Scalability

Scalability is directly related to the number of users and their interactions (transactions, smart contract executions, infrastructure requests).

TON – TON supports work chains and dynamic sharding. The system can accommodate up to 2^32 work chains, each of which can be subdivided into up to 2^60 shard chains, and has almost instant cross-shard and cross-chain communication capabilities, achieving millions of transactions per second.

ETH – Ethereum will support up to 64 shard chains and the beacon chain. At this stage, it is unclear what the exact performance of the new 64 shard chains will be and how the shard chains will interact with each other. However, if messaging between shard chains is introduced, it will be necessary to wait 10-15 minutes until a shard chain block is finalized before a message can be processed on another shard chain. Furthermore, the additional shards are not currently expected to be able to run EVM smart contracts. Instead, they are expected to be used as additional data storage in the distributed ledger.

Solana – Solana supports neither sharding nor workchains.

Whitepaper: Comparison of TON, Solana and Ethereum 2.0

3. Toncoin Token

The initial total amount of TON is 5 billion, with no upper limit on supply. The team owns 1.45% tokens, and the remaining 98.55% were mined by POW in the early stage. At present, the network consensus has changed from POW to POS, and the total amount of TON is inflated at a rate of about 0.6% per year. These tokens are used to reward those who maintain the network.SafetyThe creation and initial issuance of TON Token is very unique and similar to Bitcoin in some ways. In June 2020, all TON (98.55% of the total supply) was available for mining until June 28, 2022, when the last TON Token was mined, marking the successful end of the TON IDO.

The main uses of TON Token in the network include paying transaction fees, ensuring the stability of the chain through staking, andSafety, make decisions about the future of the network, and ultimately make payments. In addition, TON Token is also used to pay for decentralized data storage, payment to use TON proxy, payment for TON DNS, voting, rewarding validators, etc.

The current total supply of TON is about 5 billion, of which 1.08 billion are frozen in inactive wallets of early miners, and about 470 million are pledged by POS validators, with a circulating supply of 3.53 billion TON.

Due to the special historical reasons of TON, it is not like other new public chains, where early investment institutions and project parties hold a large number of tokens and are held by capital. The advantage is that there is no need to worry about institutions unlocking and dumping the market, but the disadvantage is also similar. In the early days, large miners held coins in a relatively concentrated manner and replaced institutions. Now the top 100 whale addresses hold more than 50% of the total tokens.

Image source: CoinmarketCap

In February 2023, TON VOTE passed a "TON Token Economic Model Optimization Proposal", which proposed a temporary freeze for 48 months of inactive mining wallets that have never been activated and have no outgoing transfers in their history. There are currently 171 inactive mining wallets, which hold a total of more than 1.081 billion TONs, accounting for about 21% of the total TON supply at the time.

Image credit: Tonwhales

Although the community vote to freeze inactive mining wallets for 48 months will temporarily alleviate this part of the selling pressure, due to the decentralized concept, these wallets are unlikely to be frozen permanently. In comparison, the total amount of Bitcoin held by the top 100 addresses is only 13.63%. This unreasonable token distribution will pose a great threat to the TON ecosystem in the future.

In addition to temporarily freezing inactive wallets, the community also voted to destroy half of the transaction fees to reduce the circulating supply, but currently only about 450 TONs can be burned per day, which is a drop in the bucket for the initial circulation of 5 billion.

Image source: Tonstat

A careful observation of the price of TON will reveal that there is a serious mismatch between its circulating market value and average daily trading volume. TON currently ranks 11th in circulating market value and 139th in trading volume, and this market value is only the circulating market value, not FDV. If all TONs are counted, the total market value of FDV will exceed 10 billion US dollars. Since the price of TON was first launched on Uniswap in August 2021, except for the rapid price rise to 4.5 US dollars in November 2021 in conjunction with the bull market climax and then a rapid decline, its price has remained between 1-2.5 USD, and has never fallen below the issue price of 0.5 even in the bear market. The author believes that this is because during the bear market, retail investors have no TON Coin in their hands to smash, so they will not have a bear market like many other public chains. The price trend of the currency will continue to fall. In addition, it can be seen that TON's circulating market value has remained at a high value of more than one billion US dollars since 2022, but its average daily trading volume is even as low as several million US dollars. In comparison, Solana, which has maintained a market value of billions since the bear market, has an average daily trading volume of hundreds of millions of US dollars. TON's average daily trading volume is less than one-tenth of Solana's.

TON's concentrated holdings and high potential selling pressure pose a great psychological barrier to large funds and institutions entering the market. Combined with the current low trading volume, it is difficult to make a reasonable valuation. It is expected that the chip structure and circulation mechanism will need to be adjusted several times in the future to stimulate trading volume so that the market can establish more stable expectations.

The steady rise in TON prices in the short and medium term is most likely the result of the market value management team cooperating with the ecological hype. It is not a bad thing to manage the market value of a public chain like TON. A good and stable coin price performance is also conducive to the long-term and stable expansion of the Telegram ecosystem of the TON public chain, and the ecological development will not be affected by the surge and plunge of the coin price. In the last cycle, Solana's coin price performance reached a maximum of 80 billion US dollars in circulation market value with the cooperation of the market value management team. Therefore, market value management is a favorable factor for TON prices in the short and medium term. But in the long run, since the top 100 whale addresses hold more than 50% of the total tokens, TON also has centralization risks and potential huge selling pressure. People who hold more TON coins can set up monitoring for these 100 on-chain addresses.

It is also worth noting that the well-known market maker DWF Labs announced in June that it would contribute to the token economics, market making and liquidity provision of the TON ecosystem. In addition, as of November 2023, among the top 100 currencies by market value, except for the platform coins of other exchanges and BSV, only TON has not yet been listed.Binance, which also leaves a new round of growth expectations for TON.

4. TON Ecosystem

According to ton.app statistics, there are currently 551 apps in the Ton ecosystem, which is not a small number for a public chain that has not yet exploded; but there are only 9 apps included in DefiLlama, and Bemo, ranked first, accounts for more than half of the TVL (7.3M). Most of them are non-financial products, which is in line with Ton's positioning and expectations and is a good test site for non-financial products.

Image source: https://ton.app/

a. The huge payment ecosystem contained in the combination of Telegram and TON

At the recent Token2049 Summit, Telegram and the TON Foundation officially announced their partnership. Telegram integrated the self-hosted crypto wallet "TON Space" launched by TON, allowing access to Wallet directly in the Telegram menu to complete the Crypto self-circulation. Telegram has a huge user base worldwide, with 1.3 billion registered users, many of whom are from Russia, Iran, India and other Asian and European countries. According to the founder of Telegram in his personal channel on July 18, Telegram has more than 2.5 million new users registering every day, and the monthly active users have exceeded 800 million.

According to data compiled by statista in January 2023, this figure is 1.4 times that of X (formerly Twitter) (556 million), 0.61 times that of WeChat (1.309 billion), 0.86 times that of Facebook (931 million), and exceeds TikTok (715 million). Telegram is currently one of the must-have Crypto apps and has a huge Crypto user base.

TON Space users can seamlessly connect to TON ecosystem applications through Telegram accounts. Users can directly connect to TON Space from TON-based decentralized applications (dApps) and enjoy the functions and services it provides. TON Space acts as a blockchain account to support assets such as TON in the ecosystem. Some people compare TON Space to Telegram with WeChat Pay to Tencent to illustrate the importance of this cooperation.

As early as April 2022, the TON Foundation announced that it would provide Telegram with a new wallet robot @wallet, which allows users to send and receive Toncoin and purchase Bitcoin directly in Telegram. This means that users do not need to enter a lengthy wallet address and wait for verification to complete the transaction.

2023 年 9 月，TON 基金会宣布将于 11 月面向全球推出基于 Telegram 的自托管数字钱包 TON Space。TON Space 账户提供的是自我托管服务，第三方无法访问用户的资产，可以确保一定的安全性。TON Space 上线后内置在 Wallet 中，内置的非托管钱包无需引入第三方支付结算平台，在避免跳转其他平台交易风险的同时，也增强了 Telegram 平台本身的加密金融属性。

Currently, Telegram can directly call out the wallet without any download and allow deposits of usdt/ton/BTC Trading assets

Telegram's current payment function allows users to send TON and BTC to friends directly in the chat room of the app. The usage is the same as WeChat payment. This convenient payment experience has greatly empowered TON. Many public chains may have a complete ecosystem but do not have a usage scenario for traditional users, making it difficult to break out of the circle. TON is born with the protection of Telegram, enjoying the billions of traditional traffic brought by Telegram and the most direct application scenarios.

b. Depressed DeFi ecosystem

In contrast to the huge empowerment that Telegram itself brings to TON, the current DeFi lock-up amount of TON is very low, only 9.2 million US dollars. There are only 9 apps included in DefiLlama, and Bemo, ranked first, accounts for more than half of the TVL (7.3M). You know, even a public chain like EOS that is about to rot, its TVL exceeds 69 million US dollars.

Unlike other Layer1s, TON's development path may not rely on increasing the amount of TVL in the on-chain DeFi ecosystem, but rather on Telegram payments, robots (TG Bot), mini-games (similar to mini-programs in the WeChat ecosystem), etc. as the main development track. Therefore, judging TON's valuation by the traditional Mcap/TVL on-chain asset lock-up calculation method may be less accurate. TON's core advantage is its close integration with the Telegram ecosystem with 800 million MAUs, making it a traffic entrance for a large number of Web2 users to enter the crypto ecosystem. In the next cycle, many new projects will appear in the GameFi and SocialFi sectors with Ponzi attributes, and the TON ecosystem with huge Web2 traffic may become the focus of these projects.

Data source: DeFiLlama as of October 18, 2023

At the same time, users who have used the Telegram payment ecosystem should be able to feel the convenience it brings. Payments are often accompanied by huge financial infrastructure needs, such as stablecoins, DEX, lending, cross-chain bridges, etc., which are not yet perfect in the TON ecosystem, so it is also a direction that many entrepreneurial projects can try. In this regard, TON's DeFi ecosystem can be promoted according to the development model of other mature public chains, without the need for DeFi innovation and a complex EVM ecosystem.

c. The fast-growing TG Bot track

In addition to the potential payment ecosystem opportunities brought by the combination of TON and Telegram mentioned above, the robot (TG Bot) track is also likely to be a breakout point. Since May 2023, the Bot track has shown a steady upward trend in terms of transaction volume, business revenue, and the number of new users. The top three Maestro, Banana Gun, and Unibot all showed good trading volumes in the bear market. The token price of Unibot has also increased tenfold in the bear market, and the top-ranked Maestro has achieved an excellent result of US$54K in daily revenue (DeFiLlama data; Maestro has not yet issued a coin).

The explosion of the Bot ecosystem is inseparable from the empowerment of Telegram itself. The model in which users use Bots in Telegram to find and follow Smart Money transactions to make profits is also one of the few positive ways to gain benefits in the bear market. In addition, many senior Web3 users on Twitter have a positive view on the TG Bot track and have begun to use functions such as setting up on-chain monitoring and early warning in Telegram. Traditional on-chain monitoring is often embedded in wallets, data websites, and self-made monitoring software, and the user habits of these channels are gradually being broken by Telegram. Users can directly integrate various functions such as information acquisition, user communication, data monitoring, payment transfer, and Crypto financial management on Telegram through TON.

Data source: Dune Analytics

In addition, Telegram's potential combination with games, social networking, NFT and other tracks in the future may still derive new product models, which are all possible empowerment objects of TON in the future. For example, in the game ecosystem of WeChat mini-games, many similar gameplays can also be derived in Telegram in the future. The rapid combination of @wallet and mini-games even directly bypasses the restrictions on fiat currency deposits and withdrawals in games around the world (compliance remains to be discussed), greatly reducing the entry threshold for many mini-game developers to the GameFi ecosystem. The models of Axie and StepN in the last cycle can still be implemented in Telegram through new and simple gameplay. For the Social track led by Friend.tech and the NFT track led by Opensea and Blur, in the traditional model, users often need to switch to platform b to participate or purchase after discovering a product on social platform a (such as a popular NFT). Because of its integration with TON Space, Telegram allows users to discover a product directly on social platform a and then participate in or purchase it directly on platform a, greatly reducing the threshold for user participation and developer development.

d. Development tools and developer ecosystem

Currently, TON officials still provide a lot of support to developers, including the construction of Telegram Mini Apps and smart contracts.

Telegram Mini Apps are web applications that run inside Telegram Messenger. They are built using web technologies (HTML, CSS, and JavaScript). Developers can create interfaces using JavaScript, the most widely used programming language. Here are some key points about Telegram Mini Apps:

• Integration in Telegram:Telegram Mini Apps are designed to be seamlessly integrated into Telegram, and users can access them directly from a Telegram chat or group conversation;

• Cross-Platform Compatibility:Telegram Mini Apps can be accessed with one click on Telegram on different platforms such as Android, iOS, PC, Mac and Linux without additional installation;

• Robot Interaction:Telegram Mini Apps often leverage Telegram Bots to provide interactive and automated experiences. Bots can respond to user input, perform tasks, and facilitate interactions within Mini Apps;

• Development Framework:Developers can build Telegram Mini Apps using web development technologies such as HTML, CSS, and JavaScript. In addition, Telegram also provides developer tools and APIs for creating these applications and integrating them with the Telegram platform.

• Monetization Opportunities:Telegram Mini Apps can be monetized in a variety of ways, such as through in-app purchases, subscription models, or advertising;

• Web3 TON Ecosystem Integration:TON SDK has been built, which is much more convenient for many developers who want to combine Mini Apps with TON ecosystem/tokens.

Smart contract creation, development, and deployment on the TON blockchain utilize the FunC programming language and the TON Virtual Machine (TVM). FunC is a domain-specific, C-like statically typed language. Developers' FunC programs are compiled into Fift assembly code, which generates corresponding bytecode for the TON virtual machine. This bytecode (actually a cell tree, like any other data in the TON blockchain) can be used to create smart contracts in the blockchain, or it can be run on a local instance of TVM. Interested developers can find more specific development tool information on the TON official website.

In addition, TON Foundation also provides Grants programs to many developers, including DeFi, Gamefi, cross-chain middleware, development tools,DAO The development of governance tools and other areas will be focused on. AI, TonUp, Oputs DEX Aggregator, Gatto, etc. are all projects that will receive Grants from TON Foundation in the third quarter of 2023. Developers who are interested in building projects in the TON ecosystem may wish to apply.

5. Future growth potential of the TON ecosystem

In short, TON is a good testing ground for non-financial products, which is very different from foreign public chain products. Although TON encountered many difficulties in its early development, suffered huge fines from the SEC and returned $1.2 billion in investment, its subsequent development still did a lot of things right: issuing coins at the end of the bull market at the end of 2021, taking advantage of the favorable environment to create a wave of rapid increases, and then maintaining the high market value of TON prices with low liquidity through strong control, and after the bear market began in 2022, it has successively landed on major exchanges to expand liquidity. In addition, through the combination of TON and Telegram ecology, payment and other sectors will be built to form an ecology, and TG's huge Web2 traffic will be used to divert traffic to TON. In summary, the development of TON in the next bull market is still very worth looking forward to.

The article comes from the Internet:800 million monthly active Telegram-endorsed TON ecosystem: a testing ground for non-financial DApps

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