Ton starts 25 million dollar accelerator program

• projects receive between $ 50,000 and $ 250,000 from the $ 250 million tone coin find.
• The program offers partnership and mentoring support, with several leading companies available for projects.
• The sound accelerator program will obtain medium from the $ 250 million ecosystem fund called Toncoin Fund.

In today's crypto messages, the Ton Foundation, the organization behind the Open Network (Ton) blockchain, has announced a new 25 million dollar accelerator program for aspiring projects.

The program called Ton Accelerator Program provides funds, mentoring and other resources to support projects in building up in the sound ecosystem

tone is a blockchain network created by the community that uses the technology developed by Telegram and has the native cryptocurrency Toncoin (sound).

Ton offers up to $ 250,000 for each project

As part of the sound accelerator program, which is open to different types of projects, selected teams receive funding between $ 50,000 and $ 250,000. According to the details published on Monday, Ton seems to be a special focus on projects in the Defi area.

The program is financed by the Toncoin Fund, a $ 250 million ecosystem fund, which was founded to support developers and founders who want to build on sound.

#toncoinfund From important projects, the focus will be on #defi .

offers

to $ 250,000 per project plus mentoring by partners like #web3port , #tonstarter , #teb , #cyphercapital . We look forward to expanding with other partners, energy #web3 Innovation and curls global Rel = "Nofollow Noopener" Target = "_ Blank" href = "https://t.co/qhyvkhtt9s"> pic.twitter.com/qhyvkhtt9s

- Ton 💎 (@Ton_Blockchain) 22. May 2023

projects will also benefit from the support by some of the top partners and investors within the tone community. This includes the hedge fund and AI supported Market Maker Gotbit Markets; Web3-focused innovation platform Web3port; and Tonstarter, the leading fundraising platform on sound.

also of central importance for the program will be the web3-inkubator boom labs based in South Korea and the multi-strategy crypto investment company Cypher Capital Group based in the United Arab Emirates.

Justin Hyun, Head of Incubation and Growth in the Ton Foundation, was pleased with the start of the accelerator program and pointed out in a statement that the financing was part of a crucial strategy to secure growth.

"This is the beginning of many different incubators that are supported in the future. The financing is part of our rollout strategy for local hubs and our ecosystem will work on attracting new developers and successful repeat founders that are based in various important global locations," added Hyun.

In the first choice, projects are to be included that have participated in the Hack-A-Tonx Dorahacks hackathon. The virtual hackathon lasted two months and took part in Dorahacks, a leading hacker organization.

According to the sound foundation, all MVP-enabled projects can apply for financing. Projects with a proof-of-concept or prototype that need the first technical support are asked to apply for grants for the early phase.