TAC Protocol's Rapid Growth: Over $208M TVL and Boosting TON's Ethereum-Based DeFi Share in a Month

TON Blockchain Protocol TAC Attracts Nearly $208 Million TVL

In just a month since its mainnet’s initial launching, TAC, a protocol focused on TON blockchain, has gathered nearly $208 million in Total Value Locked (TVL). Interestingly, when launched on the 15th of July, the EVM-compatible layer brought on-board 35% more value than TON’s DeFi TVL, previously standing at a substantial $153.6 million.

TAC Connects Ethereum-based Applications to TON’s Ecosystem

Worth noting, the network takes advantage of its illustrious capability of connecting Ethereum-based applications directly to the TON’s Telegram-integrated ecosystem. This connection doesn’t require the use of bridges or even wrapped assets. Since its launch, Ethereum-based DeFi protocols such as the billion dollars TVL Euler, Curve, and Morpho have taken interest and deployed on TAC. Furthermore, the TAC protocol was able to secure a mind-blowing $150 million in Ethereum-based liquidity just a few months before its mainnet launch. This was possible due to its successful campaign with DeFi liquidity protocol Turtle Club. Euler, a renowned lending protocol, currently accounts for the largest share of TAC’s TVL. With $131.3 million in TVL, this represents a whopping 63% of the value locked in TAC. Interestingly, the behaviour of users shows a more cautious approach. Rather than actively moving assets, users prefer holding them to earn viable yield.

Curve Finance Ranks Fifth Among Protocols on TAC

The decentralized exchange, Curve Finance ranks fifth in protocols present on TAC, with a substantial $17.14 million in TVL. Remarkably, Euler CEO and co-founder Michael Bentley, in an interaction with The Defiant, revealed the value of integrating with TAC. According to him, TAC allows the lending protocol to be directly accessed by Telegram users without the need for them to use separate wallets or cross-chain bridges.

Integrating Directly Through TAC: A Game-Changer

This integration is a strategic move geared towards reaching crypto users in their comfort zone. Most crypto users already use Telegram as part of their daily routine, making this integration a direct and easy access to these users. Evidently, the integration has shown significant potential with highest TVL on TAC, a clear indication of speedy growth in user adoption.

Growth of TAC Boosts TON’s Share of EVM-based DeFi

The rapid growth of TAC has significantly uplifted TON’s share of EVM-based DeFi, thus providing a direct pathway for Ethereum developers to reach TON users. Importantly, developers won’t have to rewrite their apps in FunC, TON’s native language. Hence, Ethereum developers can now conveniently reach Telegram users through TAC’s layer.

TAC’s Native Token & Toncoin

Meanwhile, amid all the upward movement, TAC’s native token is making its mark. It has surged over 7% in the past month, trading near $0.013. In contrast, despite news of the first TON corporate treasury launch earlier this month, TON’s native coin, Toncoin, remains stable at $3.28. The developments in the TAC protocol, coupled with an increase in the prices of its native tokens, evidence a promising future outlook for TON’s blockchain technology. As the crypto world continues to evolve, TAC’s strategic integrations could potentially place TON at the forefront of the crypto evolution landscape.