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KuCoin Ventures Unveils $20K Grant for TON Ecosystem Development

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Dec 2, 2023 at 11:12 am

The investment arm of KuCoin, a leading player in the cryptocurrency exchange realm, is poised to provide a grant of $20,000 to the TON network for the support of ongoing initiatives in its ecosystem. Disclosed through an official email communication from a representative of KuCoin, this collaborative effort marks the preliminary phase of their association with TON, centering on the distribution of funds to five TON-centric "mini-apps."

Delving into the details, the spokesperson expounded, stating, 

"The inaugural stage of our partnership entails a $20,000 grant earmarked for five TON-based mini-apps. Simultaneously, we are engaged in dialogues with TON for additional collaborative endeavors."

Noteworthy is the fact that these miniature applications are specifically crafted for the realms of payments and gaming.

In an official proclamation issued on a Friday, KuCoin Ventures articulated its mission to blaze a trail for the future of cooperation between cryptocurrency exchanges and public blockchain networks. The emphasis on payments and gaming within the mini-applications aligns seamlessly with the overarching industry trend of incorporating blockchain technology into various sectors.

This unfolding development may signal a burgeoning surge of excitement for Web3 innovations within the TON network. The revelation comes shortly after Animoca Brands, a significant participant in the blockchain domain, injected a substantial but undisclosed amount into the TON system. This strategic maneuver catapulted Animoca Brands into the position of the largest validator within the network, underscoring the escalating attention and investments pouring into the TON ecosystem.

Read More: Boyaa Interactive's Crypto Power Play: Proposes $100M Investment for Web3 Dominance

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