Toncoin Developers Launch $250M Fund to Support Ecosystem
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Huobi and KuCoin VCs have co-sponsored a $250 million fund aimed at funding projects in the Toncoin token ecosystem.

Other participants in the fund include MEXC Pioneer Fund, 3Commas Capital, Orbs, TON Miners and Kilo Fund.

The Toncoin Fund will be used to support developers using the TON network with grants, investments, consultations and other assistance.

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Benjamin Ramo, managing partner of the fund, has said:

"The TON network is available to millions of users thanks to community efforts to integrate bots into Telegram and customize the interface. The Toncoin Fund is ready to support decentralized exchanges, stablecoins, NFTs and other TON-based decentralized applications."

In May 2020, Telegram founder Pavel Durov announced the closure of the Telegram Open Network (TON) project due to a legal dispute with the SEC and a ban on the distribution of Gram tokens.

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