Author: Howard, TON Asia Development Relations Manager

Translation: Felix, PANews

The TON ecosystem has been active recently, with emerging applications within the ecosystem. In response to this situation, Howard, the TON Asia Development Relations Manager, posted an article on the X platform, pointing out the potential application areas worth developing in the current TON ecosystem and providing guidance for developers. The following is the full content.

In recent months, with the surge in applications, the TON ecosystem has experienced explosive growth. Although many projects have taken a similar path (a good sign), TON's goal is still to maximize your investment, whether in time or money, to achieve greater results with less effort.

According to the reliable 2/8 rule, attention in any field is focused on the top 20% (or less) of projects, and traffic and funds will flow to the best projects.

Primary Value of TON

You may have seen this image in previous articles: "TON is just a part of the entire ecosystem." So, if you have issues with your Telegram account, you can try to resolve them through this page: https://telegram.org/support

The Wallet handles funds, while Telegram (also known as TApps) serves as the messaging layer, making access to content and web pages effortless; the TON blockchain allows you to independently control assets.

These three modules together form a powerful ecosystem with unique advantages.

In the L1 blockchain, TON stands out for its unparalleled potential and creative possibilities. The core of TON and Telegram should always revolve around three pillars: social, payment, and finance.

When planning a project, you can filter it through the following three dimensions and ask yourself, "What problem are you really trying to solve?"

Social

Social interaction is Telegram's strength—exchanging valuable information in real-time and back-and-forth. But if this value exists on the blockchain, highlighting your uniqueness with on-chain assets or encouraging friends to take action. Interesting, right?

Take Calvin, for example, who recently asked, "If I share node sales with you, how much would you invest?"

This is social; this is recommendation.

We encounter similar situations every day, from casual questions to intense Telegram group discussions. Our trading habits are largely influenced by those around us, and most trades are driven by recommendations.

Of course, questions like Calvin's can create pressure—no one wants to disappoint friends by not sticking to their word. But this is where predictive market products, Pump.fun, and other platforms that allow you to bet with friends should seamlessly integrate into the social structure.

When we talk about the sociology of managing relationships or how Telegram and "social" are closely intertwined, some experts can delve deeper into these topics. These are all topics worth exploring.

Payment

When it comes to payments, the emphasis is on seamless transactions that change the game—think of e-commerce, online shopping, and the ubiquitous WeChat QR code payments in China.

The above report shows that over 90% of financial transactions in China are digitalized.

This digital transformation is changing everything. WeChat Pay has not only transformed social interactions but also revolutionized offline transactions, stimulated new business models, made payment processes more efficient, and revitalized the economy. It paved the way for e-commerce giants like Alibaba, Taobao/Tmall, and JD.com.

Let's not forget, we already have USDT on the TON blockchain.

• How can it be utilized?
• How can it help business owners solve more problems or improve payment conversion rates?

Our goal is to provide a smooth payment user experience for suppliers and consumers. While around 1 million users on the Ethereum mainnet use cryptocurrencies for transactions, the potential market for TON is 1 billion, a scale difference of 1000 times.

Serving billions of users globally is an exciting challenge.

Our payment research aims to enable users to use digital payments through custodial or non-custodial wallets, with a market potential 1000 times that of Ethereum, and the network effect is astonishing.

Online shopping is a huge opportunity. Helping merchants transition to TApps can change the game, especially in the gaming and content fields. Successful cases include:

• Catizen
• Major
• Wizzwood

Gaming platforms like "Catizen" thrive with a simple payment system, capable of generating revenue quickly, something early Web2 games couldn't achieve.

Finance

Here, finance refers to financial management and the "on-chain" aspect, such as bringing more assets onto the chain and increasing Total Value Locked (TVL).

From a short-term, medium-term, and long-term perspective, there is an urgent need to drive the development of DeFi. The reason is simple: it must be acknowledged that the TON ecosystem currently lacks various DeFi products, such as yield, profit opportunities, and other financial projects.

You can certainly instinctively move in this direction, but you must also consider developing smart contracts on the TON blockchain. This represents a part of the investment risk.

However, there are also opportunities for high returns through "trading derivatives." For example, LP (liquidity provider) returns from derivative platforms like StormTrade and Tradoor. These are some opportunities worth exploring.

• StormTrade
• Tradoor

Methodology

Our goal is to better classify and discuss projects by outlining these three dimensions.

Currently, there is a huge gap in the financial sector. TON lacks DeFi projects and needs stronger modules to drive on-chain returns and incentivize assets to stay on the chain. The most direct solution is to increase TVL by bringing more assets onto the chain or "on-chainizing" them.

But is following the development path of Ethereum the best strategy? Is solely focusing on DeFi enough to quickly penetrate the market for TON? After observing the market over the past few months, it seems that this approach alone may not be sufficient.

Telegram's strong user base indicates that the focus should shift towards finance to create more on-chain opportunities. I am eager to see more tokenization of assets in the future. Additionally, I advocate for more multidimensional or bilingual concepts, integrating "social + finance" to redefine traditional product ecosystems.

For example, decentralized exchanges (DEXs) are the foundation of DeFi and are often referred to as the "Lego" of the ecosystem. Let's delve into this independently.

Trading/DEXs

When discussing DEXs alone, they fall under finance but lack any significant social aspect.

The current issue with DEXs is more about market penetration. Uniswap has evolved from v2 to v3 and is targeting v4, but these updates are mainly mathematical adjustments. The real question is, what are the real problems? They are not exciting at all.

• Can you peek at a friend's portfolio? Not possible
• Can you easily compare PnL (profit and loss) with others? Possible, but only on niche platforms like DeBank or Zapper.
• Can you send notifications to other traders on Uniswap? Not possible

Trading should be fun and interactive. Imagine being deeply immersed in trading on a platform, enjoying every moment. Inspiration can be found in our product, such as PumpFun: https://ton.org/en/memelandia

Trading/Prediction Markets

Even in a simple field like prediction markets, there are numerous issues. It is related to social dynamics but fails to attract users effectively. Interaction is fragmented, lacking integration with popular platforms like Telegram group chats. Those connected through blockchain finance need more private channels of communication.

Polymarket also faces regulatory barriers, hindering the launch of features like mobile applications. The user experience is subpar, lacking convenience, and growth potential is inhibited. Who will still be using web pages in 2024? Mobile is the future, and its dominance will only become more solidified.

Polymarket's community engagement is limited to comments on topics or markets, failing to foster active discussions_

From a financial perspective, the platform is not attractive; considering impermanent loss, returns, and capital exposure, AMM (Automated Market Maker) is neither fair nor appealing.

This is why there is an emphasis on the close connection between "prediction markets" and "social," although I approach it with caution from a "financial" perspective. We all look forward to breakthrough features in prediction markets brought by on-chain DeFi. Just look at how Blur.io is reshaping the NFT market and other innovative DeFi strategies.

Areas of Interest/More Content

We have focused on the social, payment, and finance areas in the TON ecosystem, uncovering early opportunities worth exploring.

Curious why Proof of Work (PoW) is placed under payment? Bitcoin has fundamentally changed energy efficiency, reduced electricity costs, and driven advancements in power technology. This is the best demonstration of innovation driven by payments.

There is much more to cover: DNS domains, MEME culture, credit cards, cross-chain bridges, and more.

Please stay tuned for in-depth research on each category in the future.

Vertical Expansion Discussion

Each category has opened up an area for exploration. Wondering how to spark inspiration beyond this list? There are certainly ways.

Users (B2C)

Vertical thinking drives business development. There is an overlap in the social and payment areas, as both rely on a large user base. Companies like Amazon directly sell products to shoppers, a prime example of B2C transactions. Applications that facilitate social connections or sell digital goods fall into this category, leveraging user stickiness for expansion.

• Projects connecting social and payment shine here
• Gaming is a standout, combining social interaction with payment needs, fostering the development of both ecosystems. For example, the Catizen mini-program has generated over $6 million in revenue through Telegram Stars
• Advertising business also falls into this category in my view

Developers (B2D)

In the payment and finance areas, innovative developers are catalysts for growth and breakthrough business models. Imagine APIs for blockchain payments or developer-centric DeFi protocols, turning ordinary revenue-generating services into sources of profit.

• Imagine merging "existing payment channels" with on-chain transactions. This is the next major leap, and the tokenization of Telegram Stars could completely change the game.
• Many projects stumble on the complexity of Telegram Stars, struggling to cope with its strengths and limitations. While it's not possible to detail everything here, it is a goldmine waiting to be developed.
• What are the real highlights? Developers have a huge opportunity to address these challenges, sparking a wave of new projects. This is a major pain point, awaiting innovative solutions.

Liquidity (B2B)

Boost liquidity and drive growth through B2B strategic alliances, forming a strong network with other businesses to expand liquidity and drive collective success. This strategy creates a powerful ecosystem critical for decentralized finance (DeFi) and social platforms like Telegram. In short, it's about converting traffic into profits.

• The potential here is undeniable, especially the synergy of Launchpool, DEXs, and social features.
• Emerging "Earn" products that combine financial tools with social tools are poised to revolutionize the market. Innovative products from Alipay demonstrate the power of this combination, especially in China.

Conclusion

Despite in-depth research into various categories, some areas still require more attention, providing opportunities for innovative teams. Mini-app games have recently dominated, perhaps due to player fatigue with the earn-by-click or invite-to-earn model and the competitive environment.

However, it's exciting to think about the untapped hot topics. These could evolve into billion-dollar businesses on Telegram mini-programs and the TON blockchain.

Promising areas include cashback and gift card businesses, RWAs, Earn products, Launchpool-type programs, or companies focusing on offline QR code payment solutions. These directions are full of potential and worth exploring.

Afterword

L1 blockchain is seen as a country. TON may not be perfect, but it is full of potential and hope—just like the American dream. In the 1980s, a new wave of immigrants came to the United States with grand dreams.

Now, consensus in the EVM ecosystem is collapsing. We have Solana pushing the boundaries of single-chain and Bitcoin L2 gaining attention.

As someone who has experienced the DeFi summer, my choice is clear—I see hope.

• Would I advise a young graduate to develop on Ethereum? No.
• Without millions of dollars, the chances of success are slim.
• Would I recommend EVM blockchain to a Web2 game studio? No.

They lack users. Look at "Black Myth: Wukong"—if it weren't for Steam, would it still be a popular game? Unlikely, the platform is important.

The TON ecosystem is mature and has real growth potential. Whatever project you are working on, you have a chance of success. This place is like the American Midwest in the 1980s or today's Dubai—you can become anyone you want to be.

With a large user base, seamless cross-platform functionality, and powerful value transfer, TON/Telegram will help your business reach new heights.

Related reading: Why I am confident in the future prospects of TON in the next 6 months?

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