We are thrilled to announce the recipients of the TonUP and Foresight X grants program, which aims to support innovative projects with a total funding of over 200K USD. The selected projects stood out for their potential to make a significant impact in their respective fields. Without further ado, let’s introduce the granted projects.
As of now, TonUP grants are operated by the team with the aim of supporting projects that contribute to the TON/TonUP community. And the fund are all funded by the team. As the development of TonUP DAO progresses, we will gradually transfer the distribution of TonUP grants to community resolutions.
We are delighted to announce the recipients of the first batch of grants — TonTogether. The following are the detailed information about the grants:
TonTogether
TonTogether is a on-chain no-loss lottery project, where users can deposit TON into the TonTogether project to earn interest. These interests will be distributed to lucky users according to the rules.
Currently, the TON ecosystem lacks projects that can truly guide users to participate extensively. However, Lossless Lottery possesses this characteristic. After in-depth communication with the team, we were pleasantly surprised by their understanding of the product and economic model. Therefore, we have provided TonTogether with a grant support.
We are thrilled to announce that Cindex is the recipient of our second TonUP Grants Program. Here’s why we’re excited about Cindex and what it brings to the TON ecosystem:
Cindex is revolutionizing the way users interact with investment opportunities in the crypto market. It is not just a platform, but a portal to a wide range of innovative financial products and services. From account abstraction wallets to LSD, RWA, index funds, perpetual, tg bot and etc., Cindex makes it easier for both novice and experienced investors to navigate the complex world of crypto investment.
Additionally, Cindex is launching “USD+”, a Dollar-Denominated Capital Preservation Financial Product with Inherent Yields that enhances the financial ecosystem of the TON chain.
Why Cindex?
We chose Cindex for its commitment to simplifying and enhancing the investing experience. By integrating Telegram bots and AI, Cindex is making crypto investing more accessible and user-friendly. The platform’s suite of asset management smart contracts and its innovative “USD+” financial products are set to make a significant impact on the TON chain.
We believe Cindex’s approach to asset management and its innovative use of technology will greatly benefit the TON ecosystem, providing users with a seamless and efficient way to manage and grow their investments. We’re proud to support Cindex and look forward to seeing its positive impact on the community.
Grants 4 - A social experiment based on the TON inscription.
We gave this grant because it solves many of the problems that exist in the current inscription project:
Compatibility issues: The team proposed a new standard so that the inscription can be compatible with the Jetton token standard and can be listed directly on CEXs and DEXs;
Public Good: The team has added a new string library for TON, which will be open sourced in the future.
Updated launch mode: It is called a social experiment because this project proposes an innovative launch method, and proposes both practical and consumable scenarios for the inscription itself.
We believe that the proposal of this standard and the attempt of a new emission mode will provide a new paradigm for assets and applications on TON.
Grants 5 - PixelSwap, the first weighted pool on TON
Despite the many excellent DEX products on TON, PixelSwap still has its unique features:
Unique trading algorithm: PixelSwap introduces the weighted pool algorithm, which allows more assets to be injected into the liquidity pool on one side, greatly reducing trading slippage and improving capital efficiency.
Jetton / Jetton atomic swap: PixelSwap has implemented the Jetton / Jetton swap function with TON as the path, allowing two different Jettons to be directly exchanged, greatly improving the user experience.
Liquidity Bootstrapping Pools: PixelSwap can help new projects complete the entire launch in the case of scarcity of single-sided asset liquidity through the LBP method.
We believe that with the launch of PixelSwap, the liquidity of Jetton in the TON ecosystem will be greatly enhanced. Therefore, we have decided to provide PixelSwap Grants and additional support.
