The TON Foundation has set up a $90 million fund to support the development of the ecosystem.
The name of the fund created for the TON ecosystem TON Alpha-Vista Fund declared as. Funders to the fund include VistaLabs, Alphanonce, Miner’s Fund, and Kilo Fund.
The goal of the fund will be to increase the number of projects using the TON infrastructure and to increase the usage areas of TON.
Powered by proof-of-stake, the TON blockchain was originally developed by Telegram in 2013. However, Telegram closed the project as a result of sanctions from the US Securities and Exchange Commission. Closing in August 2020 had made the decision.
The TON community later revived the project. Although the project is currently supported by Telegram CEO Pavel Durov, independently of Telegram is operating.
The TON Foundation has done a lot of work to grow the TON ecosystem. In April of this year, investors including Huobi and KuCoin 250 million dollars collected and a fund was established to grow the ecosystem again.
In the same month, by donation approximately 1 billion dollars more gathered.