The Open Network (TON) may be pivotal in driving mainstream adoption of cryptocurrencies and decentralized finance (DeFi). The blockchain’s integration with Telegram, which boasts over 950 million users, enables easy access to TON-based applications, potentially widening DeFi's audience beyond crypto enthusiasts, as noted in a GSR report. This comes at a time when DeFi has struggled, with related tokens dropping 72% from January 2022 to September 2023. By September 2024, TON had outpaced Ethereum and several layer-2 networks in active addresses, growing from 100,000 to 9.9 million, attributed to features like Telegram’s integrated wallet and popular games like Hamster Kombat. Additionally, the report highlighted the importance of innovative use cases that can onboard users without their explicit awareness of blockchain interactions. NOTABLY, Telegram aims to onboard 500 million users onto the blockchain by 2028, enhancing its role as a significant player in the DeFi landscape.

Source 🔗