Mirana backs Toncoin with $8 million

Article image

Mirana Ventures, a global Web3 investment firm, has announced the launch of a new long-term partnership with TON that includes an $8 million purchase of Toncoin in the secondary market. David Toh, Managing Partner at Mirana, said that TON was “uniquely positioned to help accelerate mass adoption of token-governed technologies” thanks to its integration with Telegram. This collaboration provides financial support to TON and long-term assistance in building Telegram’s Web3 SuperApp, along with collaborating with other blockchains, such as Mantle Network.

Telegram Ads access and the TON-Mantle partnership

Mirana Ventures will receive access to Telegram’s advertising platform as part of this new partnership. This opportunity allows Mirana and its partners, including Mantle and Bybit, to leverage tailored advertising strategies aimed at boosting community engagement and growth from communities within the TON Ecosystem.

From its inception, TON was envisioned as a blockchain of blockchains, aiming to collaborate with other ecosystems across Web3. This new partnership between Mirana and TON takes a significant step towards realizing this vision by integrating TON-based $MNT tokens into TON Space. This move towards partnerships with other ecosystems will significantly enhance the user experience in accordance with the foundational goals of TON.

Mirana’s commitment to liquidity and technology

The Mirana-TON partnership will also include Bybit, one of its portfolio companies, stepping in to provide liquidity for RFQ technology in TON Space. This move represents a considerable improvement in transaction efficiency and price optimization. RFQ, a trading mechanism that allows buyers to request price quotes for specific asset quantities among various suppliers, creates a more personalized trading experience and ensures that even large trades can be completed without negatively impacting market prices.

RFQ technology, with Bybit as one of the liquidity providers, is also set to improve the security and stability of the TON Ecosystem by reducing slippage and the risk of market manipulation. The partnership’s two-year commitment to this technology reflects a long-term vision for the TON Space wallet to be the leading non-custodial solution in the blockchain space.

Cross-pollination with Bybit

Bybit, a leading exchange and partner of Mirana Ventures, has already been working closely with TON Ecosystem. For March 2024, Bybit is offering a special 7% cashback promotion for users spending TON with their Bybit debit card. This follows the successful Bybit x TON Odyssey earn and stake initiative, which was warmly received by the community.

As a key player in the TON-Mirana partnership, Bybit will play a crucial role in supporting mutual token listings and other integrations, enhancing the accessibility and diversity of projects within the TON Ecosystem.

TON and Mirana are building the Telegram Web3 SuperApp

This partnership between TON Foundation and Mirana Ventures, with the support of Bybit and Mantle, sets a groundbreaking precedent in the Web3 space. This collaboration is set to drive blockchain technology’s mass adoption by expediting the development of an accessible and user-friendly Telegram Web3 SuperApp.