KuCoin Ventures to back the TON ecosystem

The venture arm of the KuCoin cryptocurrency exchange and TON Foundationhave agreed to collaborate. It envisages providing a grant to the TON ecosystem TON.

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The exact amount was not disclosed.

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It is expected that the venture arm will back five ecosystem projects, with a focus on payments and GameFi.

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The grants will expand the capabilities of the Future3 campus and TON’s training camp. The parties expect funding for innovative projects, research and development, community-building activities, and marketing initiatives.

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The agreements are driven by KuCoin’s aim to strengthen cooperation between exchanges and public networks.

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Earlier in November, Web3-games operator Animoca Brands announced strategic investments in the TON blockchain, becoming the largest validator in the network.

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On October 31, TON set a world record, completing 104,715 transactions per second. According to the developers, the network is potentially capable of processing millions of operations with a sufficient number of validators.