Telegram's Shocking Move: Will TON's Mini Apps Strategy Sink or Swim?

Oh, what a tangled web we weave when we decide to stick to one thread! Telegram has gone and done it, folks! They’ve decided to limit their Mini App world to just one little fish in the vast ocean of blockchain: The Open Network (TON). And guess what? The community is not exactly sending them thank-you cards! 🎉

On January 21, Telegram, in a move that could only be described as a “hold my drink” moment, announced the TON Foundation as their exclusive partner. Yes, you heard that right! Now, if you want to play in the Mini App sandbox, you better bring your Toncoin (TON) because it’s the only ticket in town! 🏖️

But wait! The plot thickens! Critics are throwing confetti made of skepticism, claiming this TON-only strategy will be the equivalent of putting all your eggs in one basket—while someone is juggling them! 🥚🤹‍♂️

TON’s limited liquidity complicates native token launches

“Well, that was fast!” exclaimed Ilya Abugov from Helika Ventures, who seemed as surprised as a cat in a dog park. He noted that Telegram’s swift shift to a TON-only policy came with a hefty dose of protectionism. Talk about a dramatic entrance! 🎭

Abugov pointed out that TON’s liquidity is as scarce as a unicorn in a desert, making it tricky for game developers to launch their tokens. Who knew liquidity could be so… liquidated? 💧

“Centralized exchanges are yawning at TON projects,” he said, referencing the recent delisting of Hamster Kombat (HMSTR) by Bybit due to its lackluster liquidity. Poor little hamster! 🐹

Hamster Kombat had plans to build its own blockchain network, but those dreams are now as uncertain as the weather in London. CryptoMoon tried to reach out to the Hamster for a comment, but they were probably too busy spinning their wheels! 🏃‍♂️

TON stability concerns

Now, let’s talk about stability! Abugov warns that the influx of users might make the network wobble like a toddler on roller skates. “The network is still maturing,” he said, and we all know how cranky toddlers can get! 😤

Garrison Yang from Mirai Labs chimed in, suggesting that Telegram’s approach might just be a recipe for disaster—like trying to bake a cake with salt instead of sugar! “They’re missing out on revenue opportunities,” he added, while shaking his head in disbelief. 🍰

“TON is lagging behind Solana and Base,” Yang said, adding, “Instead of building bridges, they’re burning them!” 🔥

“It’s a scorched earth policy that never ends well!”

Fundamental principles of Web3 in question?

Now, hold onto your hats because according to the Ice Open Network, Telegram’s TON-only strategy is like a wolf in sheep’s clothing. “It contradicts the very principles of Web3,” they claimed, pointing out that TON is now more like The Closed Network! 🐑

“This is just Big Tech 101,” they wrote in an X post, adding, “At least Big Tech doesn’t pretend to be decentralized!” Talk about a plot twist! 📚

Telegram and TON have been waving their flags for freedom and decentralization, but it seems the flags are getting a bit tattered. In May 2024, CEO Pavel Durov boasted that Telegram offers developers “more freedom than any other platform.” But does it? 🤔

TON-first strategy versus TON-only strategy

Abugov had a lightbulb moment, suggesting that a TON-first approach would have been smarter. “They were so scared of losing users that they jumped the gun!” he exclaimed. And now, they’re stuck in a sticky situation! 🐝

“This decision will make it harder to attract liquidity from other chains!”

CryptoMoon reached out to Telegram and the TON Foundation for a comment, but it seems they were too busy counting their Toncoins to reply. How convenient! 💰

2025-01-23 13:47

Telegram’s Shocking Move: Will TON’s Mini Apps Strategy Sink or Swim?

TON’s limited liquidity complicates native token launches

TON stability concerns

Fundamental principles of Web3 in question?

TON-first strategy versus TON-only strategy

Read More