Telegram is diving deeper into the world of decentralized finance (DeFi), now supporting Ethereum Virtual Machine (EVM)-based decentralized applications (DApps) via the official launch of Tac’s main network.
Tac, created independently, allows Ethereum DApps to seamlessly integrate within The Open Network (TON) and the Telegram environment. This opens up DeFi features, such as those offered by Curve, Morpho, and Euler, directly within the popular messaging app, according to reports from Cointelegraph.
This launch represents a significant step forward in connecting the Ethereum and TON ecosystems. It brings Ethereum’s well-established DeFi scene to Telegram’s massive user base of over one billion. According to Pavel Altukhov, Tac’s co-founder, this integration broadens access to DeFi while making it easier for users to navigate within Telegram. Furthermore, it provides Ethereum developers with a fresh opportunity to expand their reach without needing to change their core infrastructure or code.
Tac Facilitates Direct EVM Deployment on TON, Eliminating Code Rewrites
Tac functions as a fully EVM-compatible layer-1 blockchain. This enables developers to deploy their existing Ethereum-based DApps on TON without needing to rewrite code specifically for the TON Virtual Machine (TVM). This interoperability reduces obstacles for developers and speeds up adoption by effectively connecting Ethereum’s DeFi ecosystem with Telegram’s familiar interface.
Tac facilitates this integration using its own jetton TON token and actively collaborates with other projects within the TON ecosystem to increase value for TON. The project’s design prioritizes both user accessibility and developer convenience, aligning its incentives with the overall TON network. Marco Monaco, another co-founder of Tac, emphasized that the protocol aims not just to connect different blockchains, but also to strengthen TON’s position as a central hub for DeFi activities within Telegram.
Tac, Supported by $11.5M in Funding, Aims for Widespread Adoption
Tac has garnered substantial support, securing $11.5 million in seed and strategic funding rounds from firms like Hack VC, indicating strong investor belief in its objectives. The platform’s unique ability to unlock Ethereum-based financial tools within a messaging-centric user experience sets it apart in the Web3 space. Leveraging Telegram’s extensive reach and TON’s infrastructure, Tac has the potential to spark a surge in DeFi adoption among mainstream users. By simplifying the process for both developers and users, the project strives to make DeFi more widely accessible and user-friendly. With the main network now operational, the focus shifts to scaling integrations and boosting user engagement within Telegram’s large and active global community.
In related news, recent reports indicate that Ethereum exchange-traded funds (ETFs) experienced inflows of $908 million over the past week, demonstrating a substantial increase in institutional interest in the world’s second-largest cryptocurrency.