TAC, a Layer 1 network aiming to bring Ethereum composability to The Open Network (TON) and the messaging platform Telegram, launched its public mainnet.
Popular Ethereum-based decentralized finance (DeFi) protocols including Curve, Morpho, Bancor, ZeroLend, and Euler are available for TON and Telegram users, bringing decentralized lending, yield, exchanges, and other use cases, according to a release shared with The Block. Developers can launch apps straight onto TAC, short for the TON Applications Chain.
“TAC’s mainnet launch is a major step toward bringing DeFi to the mainstream. By connecting Ethereum dApps with the Telegram ecosystem, TAC unlocks real utility for over a billion users,” said TOP Labs Managing Partner Andrew Klebanov in a statement. “The team combines deep technical expertise with a clear growth strategy and is uniquely positioned to bring the best of Ethereum into TON.”
Telegram surpassed 1 billion in monthly active users in March, the platform’s CEO Pavel Durov said in a personal Telegram channel.
TAC raised a total of $11.5 million in funding, stemming from strategic investments and a $6.5 million seed round led by Hack VC and Symbolic Capital in November 2024. The Open Platform (TOP), a TON development project that backs TAC, also raised $28.5 million in an extended Series A raise on July 3 to net the firm a $1 billion valuation, The Block previously reported.
The Open Network supports Telegram mini-apps, including the popular crypto games Hamster Kombat and Notcoin. The blockchain claims to have over 40 million active users.
The blockchain’s native asset Toncoin traded at $3.01 as of publication, according to The Block’s TON Price Page. TON maintains a market capitalization of $7.4 billion and brought in $287 million in trading volume in the last day.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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