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TON Foundation Launches $25 Million Accelerator Program for Emerging Crypto Projects

The TON Foundation, the entity which runs The Open Network (TON) blockchain, has unveiled a new accelerator program for emerging projects, allocating up to $25 million for supported projects this year. Toncoin is the blockchain's native coin. Under the plan, each investment will cover between $50,000 and $250,000 per project, according to the foundation. Bill Qian, the chairman of Cypher Capital, said that "[w]hat the TON Accelerator program is doing is taking the incubator principle made famous within the Web2 ecosystem and refining it and evolving it using the best of Web3 protocols and ways of working."

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