Battle for 1 Billion Users: Can the TON Ecosystem Transcend the 'Traffic Bubble' Trap?

Original Title: "TON Craze Subsides but Big Moves Continue: Is the Bubble Deflating or a Super Gateway Taking Root?"

Original Author: Wayne_Zhang

Introduction

In the third quarter of 2024, the TON blockchain, with the traffic entry from Telegram, experienced a rapid surge in Tap-to-Earn mini-games, attracting hundreds of millions of users and creating an on-chain growth miracle. At the same time, the TGEs (Token Generation Events) of multiple TON ecosystem projects also led to a strong wealth effect, propelling "TON/Telegram" to become the hottest narrative center of Web3. However, after the craze, TON is now entering a cautionary cooling-off period. Similar to past Web3 narratives, after the bubble, will it settle down or reset to zero? Is it a temporary pause in traffic, or is the value transition yet to come? At this juncture, we hope to reassess TON's long-term potential to become the "on-chain super gateway" based on detailed data, ecosystem evolution path, and technological stack layout.

1. After the Tap-to-Earn Craze: TON's Cooling Enthusiasm and Data Decline

According to the TON official website, TON (The Open Network) is a decentralized open internet aimed at bringing 500 million people onto the blockchain, built on technology developed by the Telegram community. With the backing of the Web2 social platform Telegram, which has nearly 1 billion users, TON indeed has the potential to achieve its goal of bringing 500 million people to the on-chain world and achieved great success in 2024:

· The Toncoin (TON Token) reached a peak market cap of over $25 billion, ranking in the Top 10 of crypto asset market cap [1];

· The Tap-to-Earn mini-game Hamster Kombat officially disclosed attracting over 300 million users [2];

· The TON Blockchain reached a peak of over 700k daily new addresses, with daily active addresses exceeding 1.657 million [3];

· Multiple Telegram mini-games had a market cap exceeding $500 million, and the on-chain DeFi TVL in 2024 surged to over 5,500%...

The dual miracle of traffic and wealth has made TON one of the absolute focal points of the Web3 narrative in 2024. However, similar to previous Web3 surges, a data decline often follows a short-term surge. The TON ecosystem is currently experiencing a phase of "narrative cooldown": as shown in Chart 1, whether it's daily new wallet numbers, active addresses, or the TVL and trading volume of core DEXs (Stone.fi and Dedust), all have significantly declined from their peaks. Although there have been some short-term spikes in between, most are temporary rebounds driven by specific projects; looking at the annual trend, multiple indicators have fallen back to pre-narrative launch levels.

However, it's not all gloom and doom. The number of Jetton Wallets (non-zero balance wallets) is still steadily increasing, indicating that the base user accumulation is still ongoing, although the growth rate has significantly slowed down. At the same time, the NFT minting volume continues to grow, showing that the on-chain application ecosystem is still being actively developed.

Chart 1: TON Ecosystem Data Chart, Source: Ton Stat, 2025.05.20

On the other hand, looking at the Google Trends keyword trends, the overall search interest in TON is gradually declining, especially with a more significant decrease in ecosystem-specific attention. In comparison, there is still a stronger focus on the token price in the market.

Chart 2: TON Keyword Browser Search Interest, Source: Google Trends, 2025.05.21

However, a decline in data does not necessarily mean the end of the narrative. Similar examples are not uncommon: Bitcoin experienced on-chain congestion due to a transaction frenzy but eventually saw activity return to a relatively stable level; Solana and Base also saw a data slump but, with technical optimizations and ecosystem advancements, welcomed users back and reached new highs.

Chart 3: Solana and Base On-Chain Data Trend Changes, Source: Artemis, 2025.05.22

Does TON also have the ability to undergo a deep transformation from traffic to value after the hype recedes? Will it be a temporary lull or will it ultimately become a "narrative relic"? The answer will ultimately be determined by actions. In the following sections, we will dissect the changes quietly taking place in TON "after the ebb" from aspects such as organizational strategy, ecosystem development, technical upgrades, and narrative transformation.

II. Series of Major Moves: Leadership Change, Compliance and New Markets, Infrastructure Development

Since launching on Binance in August 2024, TON's narrative has entered a new stage. While the surface heat has cooled off, it is actually an acceleration period for strategic positioning, including team restructuring, regulatory compliance exploration, deep integration with Telegram, technical stack scaling, developer incentives for global markets, and capital injections.

2.1 Senior Leadership Changes and Compliance Drive: TON Accelerates Mainstreaming Path

At the beginning of 2025, a personnel adjustment at the TON Foundation sent a clear signal: globalization and compliance will be the core strategic directions for the next few years.

On January 15, former board member and Kingsway Capital founder Manuel Stotz was appointed as the new CEO of the TON Foundation. Kingsway is a long-established investment firm managing billions of dollars in assets for U.S. investors, and Stotz's background brings a strong "traditional capital market" signal to TON. According to the official announcement, he will work together with the former CEO and current board member Steve Yun to drive TON's international expansion, with a key focus on the U.S. market—a vibrant but highly compliant region considered a must-win battleground in TON's strategy.

On April 24, the TON Foundation further appointed MoonPay co-founder Maximilian Crown as the CEO. MoonPay is a leading global crypto payment infrastructure company that has obtained compliance licenses in multiple jurisdictions, including the U.S., Australia, and the Netherlands. Crown brings extensive global operations experience and compliance expertise, and his appointment is widely seen as a significant step for TON to formally embrace regulation and move towards global mainstream adoption [4].

Figure 4: Current Core Team Members of TON, Source: RootData

It is worth noting that Pavel Durov, the founder of Telegram and an early advocate of the TON blockchain, was briefly detained in August 2024 due to Telegram's alleged regulatory violations and did not reappear in the public eye until March 2025. Although the outcome of this event is still unclear, its timing coinciding closely with the TON Foundation's strategic adjustment may have indirectly prompted the team to pay more attention to regulatory issues, clearing obstacles in advance for the subsequent global rollout. Recently, the TON Foundation has been actively engaging with U.S. regulatory agencies. According to the TON Ecosystem Report, TON's self-hosted wallet is scheduled to launch in the U.S. in the second quarter of 2025 [5]. In March 2025, the TON Foundation disclosed that U.S. venture capital firms such as Sequoia Capital, Ribbit, and Benchmark hold over $4 billion worth of Toncoin [6]. This can also be seen as strong evidence of TON's transition towards compliance and global expansion.

Looking at the global distribution of Telegram users (Chart 5), for TON to successfully convert them into Web3 users, it must comply with the regulatory requirements of various countries regarding cryptocurrency assets. Otherwise, not only will it be challenging to implement applications in key markets, but it may also pose potential legal and business risks to Telegram itself. In fact, the global expansion of the TON wallet has already begun. Since November 2023, TON has been gradually promoted in certain countries in Africa, then expanded to multiple markets in the Middle East, Europe, and the Asia-Pacific region, paving the way for subsequent global compliance.

Chart 5: Telegram Downloads by Country in 2024, Source: CPA.RIP

2.2 TON × Telegram: Deep Integration, Binding Ecosystem Entry

In January 2025, Telegram officially designated TON as the sole blockchain infrastructure for Telegram's evolving mini-app ecosystem, with the core being the adoption of the TON Connect protocol to seamlessly connect Telegram mini-apps with blockchain wallets, simplifying user interaction with decentralized applications within the messaging app. This exclusive protocol establishes TON as the actual blockchain layer for nearly one billion Telegram users, positioning TON to potentially become the "Web3 version of WeChat Pay," leveraging Telegram's massive network effect.

In the payment system, Telegram has committed to exclusively accepting Toncoin within its ecosystem as a non-legal tender payment currency, applicable to scenarios such as Telegram Stars, Premium membership, the advertising system (Telegram Ads), and payment gateway services (Telegram Gateway). Developers and channel operators can directly receive income through Toncoin, laying the groundwork for an internal payment and revenue distribution system based on Toncoin.

At the same time, payment service provider RedotPay has already supported Toncoin and USDt (the TON chain version of USDT), integrating mainstream payment methods such as Apple Pay, Google Pay, and Alipay, usable at over 130 million offline merchants globally, further expanding TON's real-world payment capabilities.

The TON Space wallet has recently introduced the option to pay transaction fees using Telegram Stars, which is essentially a cryptographic "abstraction" solution, allowing users to complete transactions without needing to understand complex on-chain operations. This approach, unlike traditional on-chain abstraction solutions, not only relies on significant entry traffic but also advances on-chain applications towards a more "lifelike" and "normalized" transformation. According to the official plan, starting from the second quarter of 2025, U.S. users will be able to experience TON wallet services directly within Telegram, further bridging the gap between Web2 consumer scenarios and on-chain asset management[7].

2.3 Ecosystem: From Small Game Craze to Diversified Track Expansion

The first wave of TON's ecosystem craze was mainly driven by mini-games. Stimulated by the combination of "airdrop incentives + easy to get started," users quickly flooded in. For example, the September 2024 airdrop of "Hamster Kombat" peaked at 3 billion monthly active users in July, but by November, only 52 million active users remained, with a user loss of over 86% in just a few months [8]. The simple and replicable game mechanics can create a short-term "growth illusion," but it is difficult to achieve long-term user retention, also exposing the homogenization issue in the early stage of the ecosystem.

Facing this situation, TON has focused on expanding the builder ecosystem on the one hand and accelerating infrastructure layout on the other. In April 2025, TON announced a strategic partnership with Chinese gaming giant KingNet (with over 1 billion users) and held the first large-scale game developer conference in Asia, attracting dozens of studios from the WeChat ecosystem to explore how to build Web3 applications based on Telegram and TON.

With the launch of the Telegram App Center feature, users can directly explore integrated third-party applications on the platform. More and more TON ecosystem applications have climbed the recommendation list and are no longer limited to the gaming category, but also include social, payment, DeFi, NFT, and other dimensions, marking the initial expansion of its application ecosystem.

Figure 6: Screenshot of the Telegram App Center interface, Source: Telegram Product Page Screenshot

According to RootData statistics, out of the 187 TON projects included, approximately 14% focus on infrastructure. In addition to fundamental services such as oracles and wallets, there are also development assistance platforms like TONXAPI, Play Deck, etc., which have lowered the technical threshold for new builders, accelerating the sustainable development of the ecosystem.

Figure 7: Foundational Projects in the TON Ecosystem (partial), Source: RootData

In addition to games, the TON ecosystem is expanding into several new narrative tracks: including PayFi, RWA (which will be detailed below), as well as AI, contract trading (Perp DEX), DePIN, and other application directions. For example:

· Co-launched TON Perpetual Contract DEX Incentive Event with GMX;

· Initiated Bounty Program with AI Agent Operating System ElizaOS;

· Collaborated with Aggregator Protocol Jupiter to promote TON ecosystem aggregator development…

The ecological potential has also attracted active responses from institutional funds. In September 2024, Foresight Ventures and Bitget invested $30 million in TON, followed by Gate.io announcing an additional $10 million investment the following month to drive Telegram app development [9]. In early 2025, former TON Foundation President Steve Yun launched the TVM Ventures venture capital fund with an initial size of $1 billion, focusing on supporting DeFi, PayFi, and infrastructure projects, further enhancing TON's developer appeal and ecosystem moat.

2.4 Technology Upgrade: Advancing High Performance and Scalability

According to TON's roadmap for the first half of 2025, the core goal of its technical iterations is to alleviate congestion, enhance scalability, and stability. This round of updates covers four main directions, reflecting TON's evolution towards a "high-load, high-frequency application-oriented blockchain":

1. Accelerator Mainnet Upgrade

This is the most significant architecture upgrade for TON since its inception, aiming to achieve the "Infinite Sharding" mechanism and significantly improve the network's stability and scalability. Core improvements include:

· Sharding Chain Tracking Optimization: Nodes will only need to track the main chain and its associated specific shard chains, rather than all shard chains, significantly reducing resource consumption and improving node processing performance.

· Validator Function Separation: TON will divide the original unified validator role into "Collators" and "Validators," improving overall validation efficiency through task parallelism.

These improvements will help the TON network maintain a stable block generation speed and transaction processing capacity under high loads, while reducing hardware dependence.

2. Layer 2 Payment Network

TON plans to launch a Layer 2 payment network similar to the Bitcoin Lightning Network, focusing on real-time transactions and low-cost asset exchange experience. Currently, the network is in the testing phase and will support various token assets, including Jetton, in the future, suitable for high-frequency trading, small game payments, and other scenarios. The implementation of this solution is expected to further increase TON's practical usage in daily user payments and gaming ecosystems.

3. BTC Teleport Cross-chain Bridge (Implemented)

BTC Teleport is a mechanism designed to achieve cross-chain asset transfer between TON and the Bitcoin network. Through a peer-to-peer bridging approach, this mechanism simplifies the cross-chain interaction process, significantly reducing user barriers and costs. This will enhance the interoperability between TON and mainstream blockchains, paving the way for its expansion in DeFi, asset management, and other scenarios.

4. Optimization and Upgrade of Technical Tools

To improve validator operational efficiency and system security, TON has introduced features such as MyTonCtrl backup and recovery, validator Telegram notification bot, web dashboard, and plans to strengthen validator incentive and penalty mechanisms. For example, nodes that fail to produce blocks within a specified round will face more severe penalties. Additionally, a new version of TON Proxy is in development to enhance DDoS attack protection capabilities, further safeguarding the network's stability and security. Furthermore, TON's official API interface will also add features such as operation simulation, querying pending transactions, and domain management [10].

The DOGS airdrop event in August 2024 served as a "stress test" for the TON technology stack. At that time, the network experienced a 3-hour interruption due to overload and validator consensus loss, exposing architectural bottlenecks under extreme congestion. The 2025 roadmap currently in progress is a direct technical response to this event. Initiatives such as mainnet architecture restructuring (Accelerator), Layer 2 network testing, and cross-chain bridge deployment signify TON's transition from a "high TPS showcase chain" to a truly scalable and resilient Layer 1 capable of long-term sustainability.

TON's technical direction does not aim for "lowest transaction fees" or "single transaction speed limits" but is structured around modules to support diverse scenarios, particularly focusing on high-frequency interactions in payment, gaming, social, and financial lightweight applications. In the future, in addition to the Layer 2 network focused on payments, TON may introduce multiple function-specific Layer 2 networks to create dedicated operational channels for different applications, achieving a highly adaptable on-chain architecture expansion.

III. Financial Narrative Reconstruction: Extending from DeFi to PayFi and RWA

3.1 From Transaction Hotness to Asset Depth: TON DeFi's Ecosystem Catch-Up

Although TON ranks among the top public chains in terms of on-chain active addresses and transaction frequency, the depth of its DeFi ecosystem still does not match this traffic level. According to DeFiLlama data, as of now, TON's TVL is only about $115 million, ranking 36th among mainstream public chains. This "high activity-low lockup" disparity has led to some market skepticism: "Is TON just another gathering place for 'yield farmers'?"

The emergence of this situation has its objective background: the TON ecosystem has grown explosively, while DeFi, as a "slow and steady" type of infrastructure, is difficult to rapidly fill the product chain and operational loop in a short period of time. On one hand, developers need time to build high-quality contracts and protocols, and on the other hand, early-stage DeFi applications on TON mostly continued traditional web interaction logic and failed to efficiently collaborate with the Telegram mini-app ecosystem. The result is that in the early hype, the most benefit went to centralized exchange platforms (CEX), attracting a large number of new user registrations and transactions.

To address this shortcoming, the TON team has begun to promote systematic improvement of the DeFi ecosystem, and fully demonstrated its DeFi module layout at the Hong Kong Web3 event in April 2025.

Figure 8: TON DeFi Ecosystem Status, Source: Youtube

At the T1 layer, the core DeFi features include cross-chain bridges, collateralized stablecoin CDPs, AMM protocols, lending, and liquidity staking LSD. These form the basis for building more complex financial products. On this basis, TON is driving the development of more advanced applications, including yield farming, derivatives, options, yield tokenization, treasury, launch platforms, etc.:

· STON.fi launched Omniston, a decentralized liquidity aggregation protocol designed to simplify liquidity management within the ecosystem;

· The decentralized perpetual contract trading platform Storm Trade continued its growth in 2025, reaching its TVL peak in February;

· The yield tokenization protocol FIVA reached a TVL of $1 million within a few days of launch and achieved $28 million in transaction volume...

In addition to the core DeFi applications mentioned above, TON is also continuously onboard more important DeFi partners, among which the most representative are Tether and Ethena, the two major stablecoin issuers.

The USDT issued by Tether was officially deployed on the TON chain in April 2024 and experienced rapid growth. Within just five months of being launched, the circulating supply of USDT surpassed $1 billion. This stablecoin has been integrated into the Telegram app, allowing for direct transfers and has been widely used in payment scenarios for Telegram mini-apps and Web3 services, including creator rewards, digital service fee settlements, content monetization, and various other purposes, further enriching the TON payment ecosystem.

Meanwhile, TON is also advancing its collaboration with Ethena, integrating its TVL of over $60 billion synthetic USD asset USDe. Through this integration, TON plans to introduce a stable USD savings and yield channel to Telegram's extensive user base, particularly benefiting market users who have difficulty accessing USD assets locally. This initiative not only strengthens TON's strategic position in the stablecoin ecosystem but also injects more long-term value financial infrastructure into its DeFi system.

3.2 PayFi and RWA: The Bridge from On-chain Yield to Real-world Value

During the TON Day event, the official team systematically introduced a "dual-drive" financial application architecture for the first time, demonstrating its on-chain financial design built around the Telegram mini-app ecosystem. The overall structure is divided into three layers:

· Core DeFi Layer: includes various continuously improved DeFi infrastructure and protocols, emphasizing technical performance and compliance frameworks;

· Real Yield Layer: provides sustainable yield support to upper-layer applications through stablecoins, RWA yields, staking asset pools, etc.;

· Retail TMA Layer: leveraging the Telegram mini-app ecosystem to build user-side products including the PayFi wallet, on-chain savings, yield games, Swap aggregator, etc., which is the key path to activate a large-scale Web2 user base.

Figure 9: Telegram Mini-App Application Layer, Source: Youtube

In this architecture, PayFi and RWA have become the two most strategically valuable new narrative themes for TON. Around them, TON is gradually establishing a multi-layered yield absorption network covering both on-chain and off-chain:

· Base Layer: By accessing off-chain real financial assets such as the Telegram Bond Fund (a $5 billion RWA asset pool), the entire system is provided with verifiable, quantifiable real-world yield sources. This layer is a key fulcrum where TON attempts to "DeFi-ify" the logic of traditional financial products.

· Middle Layer: Through protocols like Ethena's USDe synthetic dollar and Yield Tokenization, these underlying yields are split, composited, and redistributed to form a programmable interest rate anchoring tool. This mechanism not only enhances asset liquidity but also makes "yield" itself composable and cross-protocol usable, becoming the "interest rate cornerstone" of the TON financial ecosystem.

· Top Layer: Building frontend products based on Telegram's high-frequency interaction scenarios to present on-chain financial capabilities to end users in a familiar way. Through interfaces like Wallet Earn and Banking Mini Program, users can receive USDT rewards, participate in savings, or engage in financial planning without needing to understand complex concepts such as synthetic stablecoins, staking pools, or RWA assets, thus facilitating a seamless transition from Web2 users to on-chain financial users.

Take PayFi, for example; it is not only an extension of the Telegram wallet's functionality but also an interactive hub connecting "everyday payments + on-chain finance." Users can use the Tap Pay feature provided by Oobit to make real-time USDt payments at over 1 billion retail locations globally. Simultaneously, they can earn USDT rewards and participate in yield management through Wallet Earn. Throughout this entire process, users can experience on-chain finance without needing to understand terms like smart contracts, asset anchoring, or off-chain mapping. This "light experience + high financial capability" design is naturally transitioning Telegram users into Web3 financial users.

In the direction of RWA, TON is attempting to build underlying infrastructure for an "on-chain brokerage" and an "on-chain savings bank." For example, the Telegram Bond Fund launched by Libre in collaboration with the TON Foundation allows users to participate in investments in U.S. dollar bonds and other fixed income products through on-chain means. Future plans include supporting the on-chain access of low-value and fractionalized assets. Additionally, Ethena's synthetic stablecoin USDe is set to bridge to debit cards and offline consumption in the future, bringing new consumer financial scenarios to RWA applications.

Essentially, TON is not building a set of isolated financial protocols but rather a "chain-based yield network" built around Telegram: Telegram serves as the user entry point and traffic distributor, PayFi sits at the frontend interaction layer, connecting on-chain finance with daily payment scenarios; RWA assets act as the underlying value anchor, injecting real yields into the financial system. Stablecoins like USDe and yield tokenization protocols then assume the responsibility of on-chain yield acceptance and distribution. Through this closed-loop path, TON aims to naturally guide Web2 users into the on-chain financial ecosystem, completing the entire process from asset access to yield realization without increasing the cognitive threshold.

Chapter 4: The Future of TON: A Period of Infrastructure Consolidation or a Castle in the Air?

The "Traffic Miracle" of TON stems from Telegram's ecosystem integration and the viral Tap-to-Earn mechanism. However, as the hype subsides, user stickiness declines, and on-chain data recedes, a key question arises: Can the TON ecosystem truly establish a sustainable "traffic-to-value" model?

The answer may be unfolding through TON's own strategy. In terms of development pace, TON is not rushing to replicate the high-frequency stimulus operation of Tap to Earn but has entered a deeper phase of infrastructure consolidation. This is similar to Solana going through an engineering fix period after the meme coin frenzy or the Base ecosystem's deep cultivation phase post Friend.tech's decline. TON's current development strategy also reveals a similar approach: transitioning from a "hit product narrative" to a "high-frequency essential needs + long-term consolidation" value path.

At the core of all this is still Telegram—one of the world's platforms closest to the "super entrance" standard in Web2:

· Entrance Advantage: Social entrance with nearly 1 billion users + all-in-one wallet (TON Space) + Telegram App Center;

· Dual-drive of Payments and Wealth Management: PayFi connects offline payments, RWA builds a new paradigm of "on-chain wealth management";

· Protocol-level Nesting: TON Connect and Stars fee mechanism substantively establish the chain's abstract infrastructure;

· Technology Stack Implementation: Accelerator mainnet upgrade + Layer2 payment network + BTC cross-chain bridge, all strengthening TON's infrastructure capacity.

From this perspective, TON's future is not like a "castle in the air" but more like building a new digital economic hub. However, this hub is not built for DeFi enthusiasts but for the next wave of Web2 users.

Nevertheless, TON's future still faces three major challenges:

1. User Quality and Financial Depth Gap: Despite monthly active users exceeding a billion and the frequent release of mini-games, the question remains whether users truly understand DeFi, participate in on-chain activities, use Toncoin instead of just "claiming airdrops."

2. Challenge of On-chain Value Capture for Lightweight Applications: Lightweight, embedded applications (such as mini-games, transfers, ads, payments) have a natural traffic advantage, but this "use and go" mode also brings challenges: user behavior is difficult to solidify into on-chain assets, identity, data, or long-term retention. Unlike in the Ethereum ecosystem where on-chain profiles are formed through wallet binding, DeFi participation, and NFT assets, the majority of current TON users are merely a "lightweight on-chain replica" of Telegram users, with low on-chain asset activity and interaction depth.

3. Uncertainty in Compliance Route: Although TON is actively embracing regulation, such as appointing a MoonPay co-founder as CEO, facing regulatory pressures from high-pressure markets like the United States and the European Union, the sustainability of the Telegram+TON combination remains to be seen.

In other words, TON is at a critical point of "from attention to value solidification." Whether it gradually solidifies high-frequency interactions into financial and service entry points like WeChat mini programs, or becomes another short-lived traffic illusion, largely depends on the team's execution ability, ecosystem's self-evolution capacity, and wisdom in responding to the regulatory environment. However, one advantage TON and Telegram have over WeChat is that they can "cross the river by feeling the stones." I believe that the next 6-12 months will be a key window for the TON ecosystem to transition from "narrative-driven" to "fundamental value support."

5. Conclusion

TON's story is an attempt to transition "from platform traffic to on-chain value." It is neither like Ethereum, which builds a financial universe starting from the developer community, nor similar to Solana's technology-driven and meme catalysis approach. It is a Web3 popularization experiment centered on users, with the entrance as the hub, and lightweight experience as the weapon. From Tap-to-Earn to PayFi, from heat explosion to infrastructure solidification, TON's evolutionary path actually presents an important signal: the next wave of Web3 popularization revolution may not occur within the crypto community but quietly unfold in the daily lives of billions of Web2 users.

Whether TON can truly seize this opportunity, evolving from the "on-chain super entry" to the "on-chain super application platform," still requires time to validate. But regardless of success or failure, it provides an observation-worthy sample - one that does not guide users with "DeFi yield," but gradually leads them to touch and use the chain through familiar interfaces, lightweight payments, mini-games, and social experiences. This is an experiment and a gamble. But in the current unresolved bear market, what TON offers is not a "get-rich-quick myth" but a Web3 imagination closer to real-world usage scenarios. It may not happen overnight, but in a series of small incisions and real needs, it may be nurturing the potential for the next truly Web3-scale transformation.

Disclosure: The author himself holds Toncoin and related assets, and this report still has some subjective components

This article is contributed content and does not represent the views of BlockBeats.