The Surge of the TON Blockchain

The TON blockchain is experiencing exponential growth, with Total Value Locked (TVL) in the ecosystem expanding continuously. This growth highlights the rising use of decentralized protocols in the TON ecosystem.

Today, data according to Phoenix Group ranked the top 10 protocols by TVL on the TON network.

> TOP 10 #TVL ON #TON
> #Tonstakers #Cygnus $STON #Bemo $EVA $STORM #Stakee $SCALE #Factorial $UTC
>
> — PHOENIX – Crypto News & Analytics (@pnxgrp) February 26, 2025

Major Protocols on the TON Blockchain

According to data, Tonstakers emerged as the top-performing protocol in the TON network, showcasing a total TVL of $233.33 million. It is a liquidity staking protocol that provides users with an affordable approach to participate in staking, allowing users to stake assets from as little as 1 TON.

Cygnus secured the second spot with a TVL of $56.01 million. It is a DeFi platform designed to bridge traditional finance and the cryptocurrency world.

The third place goes to STON, which has a $53.41 million TVL, indicating that this DEX built on the TON network plays an essential role in facilitating simplified trading of digital assets.

Bemo, a decentralized liquidity staking platform, comes fourth with a $36.53 million TVL. In fifth place is EVA Protocol, a decentralized lending platform, with a TVL of $36.13 million.

Storm ranks sixth with a TVL of $32.80 million; it is a DEX allowing users to trade derivatives with high leverage, accessible through Telegram and the web interface.

Stakee is in seventh position with a $25.06 million TVL, enabling users to stake the TON token for better APY earnings.

SCALE, in eighth place, has a total TVL of $20.60 million. It allows users to trade various assets directly on the TON blockchain without relying on centralized exchanges (CEXs).

Factorial Finance ranks ninth, holding a TVL of $11.37 million, while UTC wraps up this list with a TVL of $10.97 million.

TON Blockchain Outlook

In 2020, Telegram, a social messaging app, abandoned its TON blockchain following legal disputes with the US SEC. The TON community then gained control of the blockchain and continued its development independently.

Since that time, the TON blockchain has continued to witness persistent growth, becoming one of the major blockchains to enlist one million users in a day. The arrest of Telegram’s founder Pavel Durov in August 2024 fostered greater unity within the TON community.

Currently, the TON blockchain is experiencing significant surges across all metrics, including active addresses. Much of the high trading volume and user adoption entering into TON originates from various decentralized platforms like those mentioned above.