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Here’s why RabBitcoin, Catizen, and Dogs tokens have plunged

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Most highly hyped Telegram tokens have suffered a harsh reversal, a few weeks after their airdrops and exchange listings.

RabBitcoin (RBTC), the token for the Rocky Rabbit ecosystem, has plunged to $0.0000037, down from its September high of $0.000007. Its market cap has retreated from over $63 million to $47 million. Catizen (CATI), a popular cat-themed game, has crashed from $1.1974 to $0.4, bringing its valuation to $84 million.

Meanwhile, Dogs (DOGS), another popular Telegram cryptocurrency, has dropped from $0.0011 in September to $0.00065.

Other tokens like Hamster Kombat and Notcoin have also struggled, with their sell-offs costing holders billions of dollars. Toncoin (TON), which powers the TON Blockchain, has also entered a deep bear market, falling by over 43% from its highest level this year. 

Telegram gaming hype has faded

Telegram’s tap-to-earn and gaming tokens have disappointed many users who had accumulated millions of coins before the airdrop. Dogs has over 50 million users, while Catizen and Rocky Rabbit have 42 million and 30 million, respectively.

As was reported earlier on Hamster Kombat, CATI, DOGS, and RBTC have dropped due to increased selling by people who accumulated tokens before the airdrop. In most cases, holders of “to-earn” tokens sell after the airdrop to avoid the initial drop.

This is common with most airdrops. For example, the Wormhole token has dropped by over 84% from its listing price, despite its strong utility. ZkSync has also fallen by double digits.

This sell-off is also driven by the broader sentiment in the crypto market. The crypto fear and greed index has moved to the fear zone of 37, as most coins have entered a bear market. Bitcoin has dropped to $60,600, while the total market cap of all cryptocurrencies slipped to $2.1 trillion.

Additionally, these Telegram tokens face the challenge of keeping users engaged as their reward tokens continue to decline.

This is a major reason why most play-to-earn networks that gained popularity in 2021 have lost traction. Data from DappRadar shows that Notcoin had 137 unique active wallets in the last 30 days.

Catizen UAW by dAppRadar

While Catizen had 1.42 million unique active wallets in the last 30 days, the number has significantly decreased in recent days. The same trend has occurred across other games like Catizen and Hamster Kombat.

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NFT

Are NFTs making a comeback or just riding the hype? Here’s what the numbers say

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After a dull stretch, NFT sales have taken a turn for the better. What’s behind this momentum, and is it a sign of a lasting revival?

NFTs are finally making a comeback

Non-fungible tokens are starting to show signs of life again after a rather dull performance in the last few weeks.

According to data from CryptoSlam, sales between Sep. 30 and Oct. 6 soared past $84.9 million, marking the highest sales volume since the week ending Aug. 25, which recorded over $93 million.

What’s even more interesting is that the NFT market has been gaining momentum throughout September. During the week of Sep. 16-22, NFT sales reached $69 million, and the following week, Sep. 23-29, saw a modest uptick to $75 million.

The current week, as of Oct. 7, has already clocked over $5.5 million in sales, suggesting that the market could continue this upward trend.

In addition to the rise in sales volume, there’s been an increase in activity, with over 2 million transactions recorded in the last seven days as of Oct. 7, a 29.73% jump from the previous period.

However, it’s not all sunshine. The average sale price of NFTs has dropped by 32.91%, now sitting at around $43 per sale, indicating that while more people are engaging with NFTs, the high-priced collectibles may still be lagging behind.

With the numbers showing positive momentum, what’s driving this rebound? Let’s dive deeper into which blockchains are leading the NFT race, why NFTs are making a comeback, and what we can expect in the days to come.

Which blockchains are leading the race?

As of Oct. 9, Ethereum (ETH) still holds the crown as the dominant blockchain in the NFT space, but the landscape is shifting, and other platforms are quietly gaining ground.

Ethereum (ETH)

Ethereum remains the leader in terms of NFT sales, bringing in over $26.5 million in the past week. Ethereum’s sales accounted for nearly 31% of the entire NFT market, but it’s also plagued by a relatively high percentage of wash trading — roughly 11.69%.

Wash trading involves artificially inflating the volume by buying and selling within the same wallet to create the illusion of higher demand.

Despite this, Ethereum’s vast user base and dominance in the NFT ecosystem cannot be ignored, as it recorded over 136,000 buyers during this period.

However, the volume of transactions (over 654,000) suggests a growing reliance on smaller trades, with the average sale price taking a sharp dip.

Mythos (MYTH)

Mythos (MYTH), a relatively newer player, is perhaps the most surprising competitor. Sales skyrocketed by over 6200% in the last week alone, reaching $15.3 million, giving it the second spot.

This explosion is driven by its gaming-centric focus, tapping into a relatively untapped and highly passionate user base. In-game assets such as NFTs have been a concept that gamers are increasingly embracing, and Mythos is positioning itself as the leader in this niche.

What’s even more interesting is that this surge isn’t heavily tied to wash trading, as only 0.28% of its transactions are wash trades, showing the platform is experiencing genuine user-driven growth.

Mythos has attracted over 632,000 transactions this week alone, which is nearly five times that of Ethereum, signaling that it might be a blockchain to watch closely as it builds on this rapid adoption.

However, gaming NFTs are highly dependent on the success of the underlying games. Hence, if those games fail to attract or retain users, the NFT market on Mythos might see a sharp decline.

Bitcoin (BTC)

Bitcoin (BTC) entering the NFT race was not something many anticipated a few years ago. Traditionally viewed as a store of value, Bitcoin’s blockchain wasn’t designed with NFTs in mind.

However, the introduction of Ordinals has breathed new life into Bitcoin’s potential in this space. While its weekly sales volume of $14.1 million might seem modest compared to Ethereum, the fact that Bitcoin’s NFT market is growing organically, with only 5.15% wash trading, is worth noting.

Interestingly, despite having fewer transactions and users compared to Ethereum, Bitcoin boasts a higher average sale price, hinting that its NFT market might be more geared toward high-end, premium assets.

Solana (SOL)

Solana (SOL) continues to be a serious competitor, posting over $10.8 million in sales this week, ranking fourth.

However, Solana’s wash trade percentage — at a whopping 22.7% — is one of the highest among the top blockchains, indicating that while Solana is seeing growth, much of its activity may be artificially inflated.

Yet, with nearly 223,000 unique weekly buyers and over 421,000 weekly transactions, it’s clear that Solana remains a key player, especially among collectors who prefer faster and cheaper transaction fees than Ethereum offers.

Polygon (POL)

Polygon (POL), known for its efficiency and low transaction costs, clocked over $10.7 million in sales last week, with wash trades making up only 0.25% of its transactions — far lower than Ethereum or Solana.

Polygon also recorded an impressive 84,532 sellers, indicating that the blockchain is attracting a healthy level of marketplace activity.

Why are NFTs surging again?

The recent surge in NFT sales can be traced to a few key developments, the most notable being a high-profile, yet dubious, CryptoPunk sale and the introduction of innovative NFT features by Telegram.

A flash loan-fueled transaction involving CryptoPunk #1563 recently made headlines when it appeared to sell for an eye-popping $56.3 million on the Ethereum blockchain.

On the surface, this seemed like a monumental sale in a space that has been struggling with lower sales volumes and declining prices.

But a closer look revealed that the sale was anything but legitimate. The buyer of the CryptoPunk used a flash loan — an uncollateralized loan that’s paid back in the same transaction — creating the illusion of a massive purchase.

In reality, the Punk, which had been purchased for just $69,000 in September, was simply transferred between wallets without any real funds changing hands. Despite this, the sale grabbed attention and sparked conversations, renewing interest in the NFT space.

These carefully orchestrated events often attract investors’ attention, especially those who had stepped away from the market amid the broader decline in NFT activity.

The psychological impact of these “sales” can reignite fear of missing out, pulling speculators back into the space as they anticipate that increased attention could lead to real opportunities.

Simultaneously, Telegram’s move into the NFT arena has introduced a more accessible avenue for users to engage with digital collectibles.

On Oct. 5, Telegram launched its new “Gifts” feature — animated images that can be sent to contacts on the platform. But what’s most exciting is that these Gifts are set to be converted into NFTs later this year, with Telegram allowing users to mint these limited-edition assets on the TON blockchain.

This feature builds on Telegram’s previous introduction of its in-app currency, Stars, which users can spend on digital services within the platform. By linking NFTs to social interactions, Telegram is making NFTs more accessible to everyday users.

Telegram’s integration of NFTs is a key development because of its massive user base and the seamless experience it offers. Users will soon be able to convert these digital gifts into NFTs, trade them, and even auction them off, all while staying within the Telegram ecosystem.

While the broader market saw its lowest sales volume since January 2021 in September, these recent events have breathed new life into the sector. Whether this resurgence will hold remains to be seen, but for now, NFTs are back in the spotlight.

What to expect next?

Looking ahead, the NFT space faces some uncertainties, especially with the recent Wells notice issued by the U.S. Securities and Exchange Commission to OpenSea, the largest NFT marketplace. 

On Aug. 28, the SEC signaled its intent to take enforcement action against OpenSea, claiming that some NFTs on the platform may qualify as securities. This could have major implications for the entire NFT ecosystem.

A Wells notice is a formal warning that the SEC might pursue legal action, and while OpenSea has the opportunity to respond, the looming threat creates an atmosphere of uncertainty. 

If the SEC classifies certain NFTs as securities, it could trigger a wave of regulatory scrutiny, not just for OpenSea, but for other platforms and NFT projects. 

The potential for stricter regulations could make some investors hesitant and slow down market growth, especially for projects that don’t have clear legal frameworks in place.

At the same time, the current uptick in NFT sales seems largely fueled by hype. It remains to be seen whether this buzz will translate into long-term growth or if it’s just another short-lived trend.

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Altcoin

The largest TON tokens collapsed by 50%: Here are the possible reasons

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TON ecosystem tokens recently listed on major crypto exchanges have significantly dropped.

The largest tokens by market capitalization in the TON ecosystem have seen a sharp decline in the past few days. Relative to the all-time high (ATH), the drop has reached 30-50%.

Notably, many of them were recently listed on major crypto exchanges. These include Dogs (DOGS), Hamster Kombat (HMSTR), and Catizen (CATI). The Toncoin (TON) token has also dropped significantly — more than 8% in a week.

Top TON ecosystem tokens by market capitalization | Source: CoinMarketCap

The market capitalization of the TON ecosystem tokens continues to decline — trading volumes fell by more than 27% to $675 million. The ratio of buy and sell orders on the Binance crypto exchange suggests that traders are rushing to get rid of once-coveted tokens.

DOGS plummeted by 58%, but developers have a plan B

Since its listing on Aug. 26, the DOGS token, 81.5% of which was supplied by the community, has plummeted by more than 58% to $0.0006599. It is noteworthy that there is no vesting period, therefore users were able to trade their DOGS immediately after the airdrop and, as a result, sell them immediately after the listing.

Amid the late token price collapse at the end of September, the DOGS team announced an upcoming token burn to reduce the total DOGS. Typically, token burning aims to increase its value — the number of unclaimed coins that need to be removed from circulation will be voted on by the asset holders.

Hamster Kombat did not live up to expectations after the airdrop

The excitement of the Hamster Kombat community turned bearish shortly after the token distribution. Despite the initial interest in the project, the active selling of HMSTR tokens led to their significant depreciation last week.

At the moment of listing, the coin price on some exchanges reached $0.014, but massive sell-offs quickly reduced the token’s value. Since its launch on Sep. 26, the token has lost 50% in value.

The catalyst for the fall was apparently the unsuccessful airdrop and listing. Users repeatedly complained about the unfair distribution of rewards, the postponement of dates and changes in rules, the low starting price of the HMSTR token trades, and the problem with selling HMSTR: the reward for many project participants for tapping the hamster was only a couple of dollars.

Such users needed help selling tokens since many exchanges restrict opening orders.

However, despite the rapid fall in the rate, open interest in HMSTR Futures remains stable. According to Coinglass, this figure has been at $60 million since the beginning of October.

HMSTR futures OI | Source: Coinglass

In many ways, Hamster Kombat repeated the story of Catizen — another Telegram-based project that disappointed users after the airdrop.

An unexpected change in the rules of the game or why they started to dump CATI

CATI also announced the rating of the leaders of the fall of tokens in the TON ecosystem: like other similar projects, the coin’s price has fallen by 50% since Sep. 20.

The rise and fall of Catizen are reminiscent of the path of Hamster Kombat. Shortly before the start of the distribution, the team unexpectedly changed the rules of the game.

Initially, 43% of the total supply of CATI tokens was intended for players. However, the developers unexpectedly changed the conditions, so the community got only 30%.

The community’s discontent was not limited to this. Soon after the airdrop, it turned out that user spending in the game influenced the criteria for distributing tokens. Those who invested money in the game, not time, received a significant advantage.

After this, many players shared stories about how they took leading places but received very few rewards. As a result, a wave of discontent with the hashtag #catizenscam swept through social networks.

Why Telegram project tokens continue to fall

Airdrops are considered one of the most popular strategies for attracting users. Many projects launched on the Telegram platform used them.

For example, Dogs, Hamster Kombat, Catizen, and similar projects actively awarded users coins for simple actions. As a result, tokens distributed through airdrops cannot maintain long-term interest or preserve their value.

Airdrops, used to increase project engagement and distribute tokens more widely among users, have probably lost their former influence as users have become oversaturated with such strategies.

For example, KeyRock experts analyzed 62 airdrops in six blockchains since the beginning of 2024. The data showed that 88.7% of the tokens demonstrated a significant price decline within 90 days after the distribution. Only a few of them showed sustainability.

Token price movements after airdrops | Source: KeyRock

At the same time, small airdrops have shown greater resilience in the short term. This is probably due to the low selling pressure during the token launch. However, in the longer term, tokens still fall over three months.

Moreover, Telegram-based games are still young, and investors may still determine whether the demand for them will last. This also fuels users’ tendency to sell off tokens, which ultimately negatively affects their price.

CryptoQuant analyst Maartunn told crypto.news that newly launched tokens in the TON ecosystem often follow a typical hype cycle.

“Initially, short-term expectations tend to be excessively high, while long-term expectations are often underestimated.”

Maartunn, CryptoQuant analyst

He also visualized the number of Hamster Token transactions relative to all TON transactions. The trend line illustrates the classic hype cycle model.

Performance of the HMSTR token. Source: CryptoQuant

Among other recently launched coins, Hamster Kombat is one of the most popular. However, Maartunn noted that many meme coins will eventually fail; only those with good fundamentals and a strong network can survive.

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NFT

Web3 gaming mainstream adoption will happen gradually, then suddenly | Opinion

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The iGaming industry is witnessing impressive growth, with global market projections reaching $127 billion by 2027. A driving force behind this trend is web3 gaming, which offers enhanced gaming experiences through features like in-game asset ownership, community-driven development, and increased transparency. 

Unlike mobile gaming, which can be costly and require multiple in-app purchases to unlock a viable gaming experience, web3 enables users to monetize their spending and gain a sense of ownership of the game. Yet, web3 gaming is still in its infancy and has some headwinds to overcome before capturing the imagination of the mainstream.

The rising popularity of web3 gaming

Between February 2023 and 2024, the web3 gaming sector received a total of over $162 million distributed across early and mid-stage funding. Richer gaming experiences paired with new revenue streams for developers through token sales, NFT trading, and in-game assets create a more sustainable and diversified business model in a decentralized and transparent environment. Web3 gaming provides innovative and creative opportunities for developers to experiment with new ideas, such as DeFi integration and VR and AR experiences—and global gaming studios are taking note. 

According to a recent report by CoinGecko, 29 out of 40 of the world’s largest video game companies are investing in web3 gaming, including Microsoft, Tencent, Sony, and Nintendo. It includes investing directly in web3 gaming projects, actively engaging in blockchain game development, and hiring for blockchain-related roles.  Epic Games, an eSports pioneer, is also riding the web3 gaming wave with plans to introduce at least 20 NFT games to the Epic Games Store in 2024 alone.

Meeting gamers where they’re at—Telegram 

While opportunities in web3 gaming abound, it remains a niche segment. Gaming studios and developers need to employ creative tactics to capitalize on existing user bases and appeal to them on a deeper level. Telegram-based games are a prime example of this, with the rapidly growing ecosystem of token-backed mini-apps leveraging the vast social network’s over 900 million users and appealing to them with innovative gameplay, token rewards, and digital asset airdrops. Within weeks of launching during an airdrop for Notcoin (NOT) players in May of this year, the NOT token reached a market capitalization of over $2 billion. 

Understanding the importance of meeting gamers where they are to draw in a broader audience, Notcoin has since partnered with us at Helika to establish an incubator for the next generation of Telegram games. The Telegram Gaming Accelerator will aid the developers of Telegram-based mini-apps to better understand their users, cultivate exciting experiences, and entice newcomers with value-driven incentives. As more and more traditional gamers catch on to the possibilities of web3 gaming, mainstream adoption will happen gradually, then suddenly. 

Scaling web3 gaming for the mass market

Despite the undeniable groundswell, web3 gaming must overcome additional challenges to scale for mass market adoption. For non-crypto-users, the barriers to entry remain prohibitively high with complexities such as integrating web3 wallets and learning about self-custody best practices beyond the reach of the average gamer. Many web3 games struggle to gain traction due to high fees and high latency from the underlying blockchain architecture, and game developers suffer from a lack of quality analytics to gain visibility into their on-chain game economies. 

As blockchain-based gaming races to overcome these hurdles, abstract the complexities of interacting with the blockchain away, and scale the tech to overcome lagging, reliable data partners are essential. Web3 game developers need to understand which elements of their games are working (and which aren’t) to cultivate a user experience that feels as smooth and compelling as the one they are used to—with all the added benefits of web3. This remains pivotal to onboarding the masses.

As users seek more immersive gaming experiences, web3 gaming holds the key, and global gaming studios are throwing their hats into the ring. With almost one billion users globally, initiatives like the Telegram Gaming Accelerator mark a giant step toward triggering mass adoption and igniting the game theory that will onboard the next billion to the ubiquitous web.

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Phân tích

Toncoin nears a dreaded pattern despite strong on-chain metrics

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The Toncoin token remained in a bear market and was at risk of forming the dreaded death cross pattern, despite strong on-chain metrics.

Toncoin (TON) was trading at $5.81 on Monday, Sep. 30, down by over 30% from the year-to-date high.

Strong on-chain metrics

Additional data showed that the number of on-chain activated wallets has risen to over 20.8 million, a significant increase from January’s low of 1.1 million.

Moreover, the number of Toncoins burned daily has continued to rise, reaching the year-to-date high of almost 39,000. These burns have coincided with a sharp decline in the number of minted Toncoins, which has dropped to 39,000 from this month’s high of over 50,000.

TON Blockchain fees have risen | Source: TonStat

Role in DeFi is fading

Toncoin’s price has likely retreated due to its waning role in the decentralized finance industry, where the total value locked in the network has dropped from over $765 million in July to $427 million.

TON has moved from being a top ten player in the DeFi industry to becoming the 20th-biggest chain. Smaller chains such as Core, Mode, Mantle, and Linea have surpassed it in recent weeks.

Toncoin has also dropped because of Pavel Durov’s recent arrest in France and the performance of its tap-to-earn tokens. Hamster Kombat, which launched its airdrop last week, has dropped by almost 60% from its highest level.

Similarly, Notcoin (NOT) dropped by 71%, while Catizen (CATI) has fallen by 50% from their all-time highs. Most of all the recently launched Telegram’s tap-to-earn tokens have dropped to record lows.

Meanwhile, Toncoin’s futures open interest dropped to $260 million on Sep. 30, down from the year-to-date high of over $360 million. This figure has reached its lowest point since Sep. 12, indicating waning demand.

Toncoin price analysis

Toncoin price chart | Source: TradingView

Toncoin’s token has dropped by over 30% from its year-to-date high, and the 50-day and 200-day Exponential Moving Averages are close to forming a death cross pattern. The last time it formed this pattern in May of last year, it resulted in a drop of over 50%.

TON has also formed a head and shoulders and a rounded top pattern. It remains below the first support level of the Andrew’s pitchfork tool and the 23.6% Fibonacci Retracement level.

Therefore, Toncoin may have a bearish breakout to the next key support at $4.45, its lowest point in September, unless it moves above the 50-day and 200-day moving averages.

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Phân tích

Hamster Kombat in a harsh reversal; market cap drops below Notcoin

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Hamster Kombat’s token plunged by over 30% following its much-anticipated airdrop and token listing.

Hamster Kombat (HMSTR) crashed to $0.0088, bringing its total valuation to over $574 million, making it the 110th largest cryptocurrency. Its opening price was also significantly lower than the pre-market futures high of $0.3865.

It has been listed on several large centralized exchanges, including Binance, OKX, MEXC, Gate.io, Woo, and KuCoin. Binance also launched an earn program, where participants will have a chance to win 100 million HMSTR tokens.

Data from CoinGecko shows that Hamster has a maximum supply cap of 100 billion tokens, with 64.3 billion of them in circulation. This decline likely occurred as many airdrop recipients began selling their tokens.

Hamster Kombat’s valuation means that it is smaller than Notcoin (NOT), the first tap-to-earn token to be listed, which has a market cap of over $871 million. 

Fundamentally, Hamster has a larger ecosystem than Notcoin. It boasts over 300 million players, 37.6 million YouTube subscribers, and 14.3 million followers on X.

A likely reason for the price drop is that Hamster has over 35 million tokens locked, while all of Notcoin’s 102.4 million tokens are in circulation.

The biggest short-term risk for Hamster will be increased selling by millions of people who have accumulated billions of tokens over the past few months. Typically, newly listed Telegram tokens experience a decline shortly after launch.

Catizen (CATI) initially jumped to $1.150 after launch but has since dropped by over 38%. Similarly, Notcoin and Pixelverse have both seen double-digit declines from their all-time highs.

On the positive side, Hamster Kombat’s airdrop happened at a time when most cryptocurrencies are rising. Bitcoin (BTC) rose to $64,700 while the total valuation of all coins rose by 3.7% to $2.26 trillion.

Other highly anticipated tokens have also disappointed in the past. For example, Sweat Economy has dropped by 94% from its record high, despite Sweatcoin having over 50 million users before the SWEAT token airdrop.

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Phân tích

Catizen soars to record as STON.fi launches CATI farming

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Catizen’s token rose to a record high on Friday, Sept. 20, as the crypto rally intensified and after STON.fi launched its farming.

Catizen (CATI) jumped to a high of $1.1265, 260% above its lowest point this month. This rally has pushed its market cap to over $216 million.

Most of Catizen’s volume is happening in Binance, followed by Bybit, Bitget, and OKX, which had a 24-hour volume of $267 million, $50 million, and $49 million, respectively.

The main catalyst for Catizen’s surge on Friday was the launch of CATI farming by STON.fi, a leading decentralized exchange in TON’s Blockchain. As part of the launch, the company offered 20,000 STON rewards worth $86,000 to participants. 

These rewards will be divided equally between the CATI/TON and CATI/USD pairs. The farming period will run until Oct. 4. In most periods, cryptocurrencies rally after the start of farming and after being listed by a major exchange.

Catizen was also launched in Bitget’s PoolX, where users who lock their tokens in the exchange will stand a chance to win 53,000 TON valued at about $300,000. 

CATI also rose after being listed by Crypto.com, one of the leading crypto exchanges in the industry. It is now listed in other exchanges like OKX, Gate.io, and WhiteBIT.

For starters, Catizen is one of the biggest gaming mini-applications in Telegram, with over 30 million users who earn tokens by collecting ‘cats’ and doing simple tasks like following its social media accounts.

Its performance has been better than other Telegram tokens like Notcoin (NOT) and Pixelverse which have dropped sharply after their airdrop.

The next key Telegram tap-to-earn airdrop to watch will be Hamster Kombat, which has accumulated over 300 million users. According to OKX, its pre-market futures have dropped by over 95% in the past 30 days. 

Catizen’s biggest task will be how to maintain the ecosystem’s vibrance now that the token has started trading. Historically, play-to-earn networks like Decentraland and Axie Infinity have struggled to maintain the initial boom.

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Công nghệ

RedStone debuts first price oracles for TON blockchain

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Blockchain developer RedStone has integrated its oracle solution into The Open Network, offering the first-ever price feeds on the network.

Telegram-incubated The Open Network (TON) is bolstering its decentralized finance ecosystem with RedStone’s launch of the first oracle price feeds, providing real-time, gas-efficient data solutions. According to a Sept. 19 press release shared with crypto.news, the integration provides real-time data feeds that will help blockchain developers build protocols on TON.

Oracle feeds in blockchain are tools that supply smart contracts with real-world data, such as asset prices or weather updates, which are essential for executing automated actions or decisions. They act as a bridge between blockchains and external information sources.

However, TON, unlike other blockchains such as Ethereum (ETH), where smart contracts communicate directly, relies on message transmissions for contract interactions, which presents unique challenges. RedStone notes that its solution addresses these complexities.

“This process demands careful attention to critical factors such as the sender’s identity, message structure, and the accuracy of the responses, all of which are crucial to maintaining the integrity and security of the system.”

RedStone

RedStone brings oracles to TON

The firm says its oracles will automatically publish asset prices, monitored to ensure uninterrupted service. In addition to oracles, RedStone has also introduced smart contract templates powered by TON Connect, designed to simplify the integration process for developers.

RedStone’s chief executive, Jakub Wojciechowski, says the firm’s vision for TON “goes beyond integration,” adding that the blockchain developer is committed to providing developers with “essential tools like smart contract templates and automatic relayers, ensuring seamless data flow and uninterrupted service.” Beyond TON, RedStone has also secured partnerships across Ethereum and Avalanche (AVAX), among others, with a focus on delivering cross-chain data feeds.

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DeFi

UTONIC Protocol secures $100m TVL for TON’s first restaking solution

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UTONIC Protocol, a restaking solution on The Open Network (TON), has secured $100 million in total value locked from investors, validators and institutions.

The protocol, backed by several leading players in the crypto restaking ecosystem, offers a marketplace where projects can incentivize users by rewarding them for allocating their staked Toncoin (TON) in The Open Network ecosystem.

UTONIC aims to expand the decentralized finance ecosystem on TON, a blockchain ecosystem gaining significant traction with the launch of tap-to-earn games.

Bringing restaking benefits to TON holders

UTONIC outlines three ways through which restakers of TON can join and contribute to TON’s decentralization and shared security. Users can leverage their staked Toncoin to support the ecosystem and earn yield through native validator rewards, actively validated services and farming.

Native restaking allows TON holders to deposit their tokens into UTONIC smart contracts, with these assets used for staking. Users can also deposit their liquid staking tokens into UTONIC smart contracts. The LSTs are restaked on UTONIC, and the native liquid restaking token uTON is minted to allow participation in DeFi.

UTONIC empowers users to repurpose their staked TON, extending the blockchain’s security to additional applications. By reallocating staked assets, users can secure Actively Validated Services within UTONIC while consenting to grant additional enforcement rights over their staked assets.

UTONIC

This should see TON’s burgeoning DeFi ecosystem benefit from shared security, a scenario that will boost network growth. Projects set to benefit from this include cross-chain bridges, sidechains and oracle networks.

UTONIC has partnerships and technical support from top restaking platforms such as InfStones, TonStake, iZUMi Finance, Satlayer and Stakestone.

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