Solana's largest DEX Jupiter joins forces with TON Foundation to enhance Cross-Chain Interaction Liquidity and incubate TVM Aggregator

Due to the rise of Telegram mini-games, TON is considered one of the best-performing public chains in the first half of this year. However, it also reveals a major problem: the development of Decentralized Finance on the chain lags behind the rise in coin prices and users. Its TVL reached a peak of 776 million MDL in July, but with the overall market decline in August, coupled with founder Parvel Durov's legal troubles. As of the deadline, TON chain TVL is only one-third of its peak, but just before the end of 2024, TON also announced a partnership with Solana's largest Dex, Jupiter.

Jupiter will build a cross-chain aggregator for TON to increase liquidity

TON Foundation announces its collaboration with Jupiter. The statement notes that both parties will work together to build a liquidity aggregator on TonVM to enhance liquidity on TON and create a cross-chain exchange integration platform, shaping the future of Decentralized Finance.

Jupiter is a leading spot and Perps decentralized trading platform on Solana, supported by the largest active decentralized autonomous organization (DAO) in the cryptocurrency field. What sets Jupiter apart is its emphasis on staking and voting governance tokens. Active governance users can receive token airdrops, and in a recent airdrop that released 7% of the tokens, additional rewards were provided for staking JUP tokens and participating in governance. This is why Jupiter's DAO is so powerful.

TON Foundation said that the collaboration with Jupiter represents TON's commitment to developing a scalable Decentralized Finance ecosystem, leveraging Jupiter's expertise and network to unlock transaction opportunities between chains. Users can use Jupiter to find the best cross-chain exchange rate and sufficient liquidity, while TON can provide developers and traders with the tools needed in the Decentralized Finance field.

Jupiter collaborates with TON Foundation to incubate an aggregator on TVM

And both sides are also promoting a Decentralized Finance competition, which is now open for registration and will take place on February 15th. The winners will receive consulting from Jupiter and resource support from the TON Foundation.

Jupiter founder Meow said: 'TON is one of the most exciting and underdeveloped blockchains in the field. Once the liquidity of the ecosystem is unlocked, there will be tremendous growth potential. This is a great move by the TON Foundation, and we are pleased to be able to support and get to know the best talents here.'

Vlad Degen, the head of Decentralized Finance at the TON Foundation, said: 'We are pleased to collaborate with Jupiter to continue expanding the TON Decentralized Finance ecosystem. Earlier this year, our collaboration with other Decentralized Finance partners led us to establish a partnership with Jupiter. We believe that this collaboration will bring tremendous value to TON and contribute to the establishment of a prosperous cross-chain future.'

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