Investment Firm Hack VC, Alongside Symbolic Capital, Pump $6.5 Million into TON Network Expansion Project TAC
In an exciting development for the blockchain industry, TAC (TON Application Chain) has announced a new approach to simplify building Ethereum Virtual Machine (EVM)-compatible apps on the TON network and connect EVM decentralized applications (dApps) across DeFi, GameFi, SocialFi, and real-world assets.
At the heart of TAC's strategy is a unique hybrid dApp model that combines a Cosmos-based EVM layer with the TON Adapter, ensuring full EVM compatibility while offering a seamless integration with the TON ecosystem and Telegram. This design aims to significantly reduce complexity for both developers and users, making it easier for diverse EVM applications to thrive within Telegram's massive user base of over 900 million.
The two-module architecture of TAC allows developers to deploy their Ethereum smart contracts on TON without any code changes, ensuring full compatibility. The TON Adapter serves as a bridge, connecting TON wallets directly with the TAC EVM chain, enabling users to interact with EVM dApps on TAC effortlessly, without the need for complex cross-chain processes.
TAC's integration with Telegram Mini Apps further enhances the Web3 experience, allowing EVM dApps to function within Telegram’s existing ecosystem. This means users can sign transactions and use TON assets natively in Telegram, making DeFi and other Web3 services accessible to mainstream users directly where they communicate and engage socially.
Cross-protocol and cross-chain interoperability are also key aspects of TAC's approach. By acting as a translation layer between Ethereum-based protocols and TON, TAC allows a wide range of dApps from various sectors to connect and function smoothly. Partnerships with projects like Chromia add further decentralization and backend logic execution capabilities, bolstering transparency and scalability of the dApps.
To support this ambitious project, TAC has raised $6.5 million in a seed round co-led by Hack VC and Symbolic Capital. Notable participants in the fundraising include Primitive, Paper Ventures, Karatage, Animoca Ventures, Spartan Capital, TON Ventures, and Ankr, as well as Angel Investor Sandeep Nailwal from Polygon.
TAC's CEO, Pavel Altukhov, has announced that the company plans to launch its testnet this week, with the mainnet launch scheduled for Q1 2025. The team will be showcasing its public testnet at DevCon 2024. Additionally, TAC is secured by TON liquid staking tokens, and plans to introduce redstaking to the TAC ecosystem to further enhance the self-custody of TON and Ethereum assets.
With its innovative approach and strong backing, TAC is poised to expand web3 development and connect a wide range of EVM dApps, opening up new opportunities for developers and users alike.
- The innovative strategy of TAC, which involves a unique hybrid dApp model and a two-module architecture, aims to simplify investing in EVM-compatible apps on the TON network, thereby pushing web3 financing and technology forward.
- As TAC connects EVM decentralized applications (dApps) across DeFi, GameFi, SocialFi, and real-world assets, it brings news of potential growth and expansion in the finance sector, positively impacting technology development within the blockchain industry.
