TAC to Develop EVM-Compatible Solution for Telegram

Developers of the L2 network TAC have announced the creation of a technology enabling Telegram users and the TON ecosystem to access EVM applications, reports The Block.

The team has raised $6.5 million in a seed funding round led by Hack VC and Symbolic Capital. Other participants include Primitive, Paper Ventures, Karatage, Animoca Ventures, Spartan Capital, TON Ventures, Ankr, and Polygon co-founder Sandeep Nailwal. The valuation and structure of the round remain undisclosed.

TAC plans to use the funds to connect various EVM applications in the DeFi, GameFi, SocialFi, and RWA sectors. They also aim to implement account abstraction to simplify self-custody of Toncoin and Ethereum assets.

TAC’s infrastructure will be partially secured by liquid staking tokens of TON.

The test phase is set to begin this week during the DevCon conference, with the mainnet launch planned for the first quarter of 2025.

The founding team of TAC includes the venture builder of TON TOP (The Open Platform) and Curve creator Mikhail Egorov. This L2 network is not developed by the official TON team, as the latter stated earlier.

Earlier in November, the TON Foundation launched a DAO to decentralize the governance of the ecosystem.