A strategic partnership between The Open Network Foundation (TON Foundation) and Mantle Network, a top provider of Ethereum Virtual Machine (EVM) Layer 2 solutions, was launched today. With this partnership, Mantle Network is positioned to support the TON Foundation as its main ally in achieving more interoperable Layer 2 blockchain capabilities on TON that are compatible with EVMs.
STON.fi, a cross-chain decentralized exchange (DEX), now offers trading and liquidity provisions for a wrapped version of $MNT, $jMNT. Mantle and TON can communicate and integrate more easily because of this wrapped token. Additionally, $jMNT simplifies access to enable extensive and seamless network trading.
This all-inclusive partnership goes beyond token integration because the two parties will use the @community_bot, a Telegram-native community toolset, as a teaching and information sharing platform. Through this endeavour, members of the Mantle Ecosystem project channels and Mantle’s Telegram channels will have direct access to the vibrant Telegram community of TON. Both communities stand to gain from mutual information sharing and improved community engagements as Telegram builds a Web3 ecosystem for its 800 million+ monthly active members.
Justin Hyun, Director of Growth at TON Foundation. said: “This initiative with Mantle Network bridges the gap between our communities, establishing a more interconnected and interoperable Web3 ecosystem for Telegram’s large user base. Together, we are equipping users across both ecosystems with the most simple cross-chain experience possible.”
“We are thrilled to find a common purpose with TON Foundation through a strong alliance that will allow the core competency of each to shine and bring the greatest benefits to both communities,” said Jordi Alexander, Chief Alchemist of Mantle. “As TON Foundation’s principal ally towards advancing EVM-compatible Layer 2 blockchain capabilities on TON, we will work hand in hand with TON to help realize the vision of an interoperable multichain future that puts the users at the center.”
A non-profit corporation called the Open Network Foundation (TON Foundation) was established in Switzerland in 2023. The Open Network’s purpose is supported by the 100% community funding TON Foundation, which acts in the community’s best interests. Visit https://ton.foundation to learn more.
The Open Network (TON) Overview
Every pocket will hold cryptocurrency thanks to The Open Network (TON). Through the development of a Web3 ecosystem in Telegram Messenger, TON is enabling billions of people to take ownership of their digital assets, data, and identity. Visit https://ton.org to learn more.
A decentralized autonomous organization (DAO) called Mantle Governance, one of the biggest on-chain treasuries called Mantle Treasury, an Ethereum layer 2 (L2) called Mantle Network, an impending Ether (ETH) liquid staking product called Mantle LSD, and all of these components make up the Mantle Ecosystem. The ecosystem’s single product and governance token is called Mantle Token. Mantle Network, an Ethereum L2, is the company’s initial main offering.
Mantle Network aims to be Ethereum Virtual Machine compatible. Transaction execution, data availability, and transaction finality are divided into modules by Mantle Network’s modular architecture, which allows each module to be updated independently and to include the most recent developments. For the data availability module, Mantle Network is the first L2 to collaborate with EigenLayer, an ETH restaking protocol. Ethereum secures the Mantle Network by using a rollup design. Mantle Network, the first DAO-spawned L2 in history, is laying the groundwork for the widespread use of token-governed technology.
In addition to acting as Mantle Network’s native gas token and ecosystem growth token, Mantle token ($MNT) also functions as Mantle Governance’s token. Similar to this, the Mantle token holder community will vote to initiate and fund all upcoming Mantle goods. Through the Mantle Grants Program and the $200 million Mantle EcoFund, a catalyzed capital pool, Mantle is expanding its ecosystem to help the upcoming generation of inventors, builders, and developers.