TON and Telegram should always revolve around three pillars: social, payment, and finance.

Author: Howard | Building on TON

Translation: Deep Tide TechFlow

In recent months, the ecosystem has flourished with the emergence of a large number of applications. Although many projects have taken a similar path - which is a good sign - our goal is still to maximize your investment, whether it's time or money, so that you can achieve greater returns with less effort.

Relying on the reliable 80/20 rule, the focus in any field is on the top 20% (or less) of projects, concentrating traffic and capital on the best projects.

Given your background and experience, choosing a less competitive niche market may significantly increase your chances of success. This article aims to help you adjust your direction and establish some key milestones and themes, especially as there are many opportunities to be developed in the @TON_Blockchain ecosystem.

ton.org

1. The main value of TON

You may have seen this chart in my previous articles: "TON is just a part of the entire ecosystem." So, if you encounter problems with your Telegram account, please consult here.

The wallet (t.me/wallet) is responsible for financial transactions, while Telegram (i.e. TApps - t.me/tapps) makes accessing content and web pages effortless through messaging. (@tappscenter / @wallet_tg)

The TON blockchain (t.me/toncoin, t.me/ton_blockchain) allows you to have autonomous control over assets. These three modules together form a powerful ecosystem with unique advantages.

In the L1 blockchain, TON stands out with unparalleled potential and creative possibilities. At its core, TON and Telegram should always revolve around three pillars: social, payment, and finance.

When planning your project, filter through these three perspectives and ask yourself: "What problem are you really solving?"

The method is as follows.

Social

Social interaction is Telegram's strength - exchanging valuable information in real time. But imagine if this value could exist on the blockchain. Imagine showcasing your uniqueness through on-chain assets, or encouraging friends to take action. It's interesting, isn't it?

Take Calvin (@calchulus) for example. He recently asked: "How much would you invest if I shared a node sale with you?"

This is social; this is recommendation.

We encounter similar scenarios every day, from casual questions to intense discussions in Telegram groups. Undeniably, our trading habits are significantly influenced by those around us, and recommendations drive most transactions.

Of course, questions like Calvin's may create pressure - no one wants to disappoint a friend by not responding. But this is where products predicting market trends, Pump.fun, and other platforms that allow you to bet with friends seamlessly integrate into social networks.

When we talk about the sociology of managing relationships or how Telegram is closely intertwined with "social," there are experts who can delve into these interesting topics. These are all interesting topics worth exploring in depth.

Payment

When I talk about payment, I emphasize the disruptive business value brought by seamless transactions - such as e-commerce, online shopping, and the widespread use of WeChat Pay in China through QR codes.

(Image Source)

*Reports show that over 90% of financial transactions in China are now digitalized.

This digital transformation is changing every aspect. WeChat Pay has not only revolutionized offline transactions but also spawned new business models, making payment processes more efficient, while also revitalizing the economy. This has paved the way for major e-commerce giants such as Alibaba, Tmall/Temu, and JD.com.

And let's not forget, we already have USDT on the TON blockchain.

• How can you leverage this?

• How can you help business owners solve more problems or improve payment conversion rates?

The goal is to provide a smooth user experience for payments, benefiting both suppliers and consumers. Approximately 1 million users have conducted cryptocurrency transactions on the Ethereum mainnet, while the potential market for TON reaches 1 billion - a 1000-fold difference in scale.

Serving billions of users globally is an exciting challenge.

Our payment research aims to make digital payments accessible to a large user base, whether through custodial wallets or non-custodial wallets. TON's market potential is 1000 times that of Ethereum, and the network effect is remarkable.

@CatizenAI / @Wizzwoods_game / @majoroftelegram

Online shopping holds tremendous opportunities. Helping merchants transition to Tapps is a disruptive move, especially in the gaming and content fields. Here are some success stories:

• Catizen (@CatizenAI)

• Major (@majoroftelegram)

• Wizzwoods (@Wizzwoods_game)

Gaming platforms like Catizen have experienced rapid growth through a simple payment system, generating revenue quickly - something early Web2 games couldn't achieve.

Finance

When we talk about finance here, we are referring to financial management and the "on-chain" aspect, such as bringing more assets on-chain and increasing TVL (Total Value Locked).

In the short, medium, and long term, there is a strong demand for driving decentralized finance (DeFi). The reason is simple: we need to acknowledge that the TON ecosystem currently lacks diversified DeFi products - such as yield, profit opportunities, and other financial management projects.

You can certainly instinctively move in this direction, but you must also consider the challenges of developing smart contracts on the TON blockchain. This is part of the investment risk.

However, there are also high-return opportunities through "trading derivatives." For example, the LP (liquidity provider) returns on derivative platforms like StormTrade and Tradoor are promising. These are opportunities worth exploring.

• StormTrade (@storm_trade_ton/ https://storm.tg)

• Tradoor (@tradoor_io / https://tradoor.io)

2. Methodology

Our goal is to better classify and discuss projects by outlining these three dimensions.

Currently, there is a significant gap in the financial sector. TON lacks DeFi projects and needs more powerful modules to drive on-chain yields and incentivize assets to stay on-chain. Bringing more assets on-chain, or "on-chainization," and increasing Total Value Locked (TVL) is the most direct solution.

But is following Ethereum's development path the best strategy? Is focusing solely on DeFi enough to quickly penetrate the market for TON? After observing the market over the past few months, I have doubts about the effectiveness of this approach.

The strong user base of Telegram suggests that we should shift the focus to finance to create more on-chain opportunities. I look forward to seeing more asset tokenization in the future. Additionally, I advocate for the introduction of more multidimensional or bilingual concepts, combining "social and finance" to redefine traditional product ecosystems.

For example, decentralized exchanges (DEX) are the foundation of DeFi and are often referred to as the "Lego" of the ecosystem. Let's explore this independently.

Trading / Decentralized Exchange (DEX)

If we talk about DEX separately, they belong to the financial sector but lack significant social elements!

The main problem currently faced by DEX is market penetration. Uniswap has evolved from v2 to v3 and is now focusing on v4, but these updates are mostly just mathematical tweaks. What is the real problem? They are simply not appealing.

Can we view our friends' portfolios? No.

Can we easily compare our profit and loss (PNL) with others? Yes, but only on niche platforms like DeBank or Zapper.

Can we send notifications to other traders on Uniswap? There is no such opportunity.

Trading should be fun and interactive. Imagine a platform that allows you to delve into trading and enjoy every moment. Inspiration can be drawn from products in our category like PumpFun.

Trading / Prediction Markets

Even in simple fields like prediction markets, problems abound. It is related to social dynamics but has failed to attract users in a meaningful way. Interaction is fragmented and lacks integration with popular platforms like Telegram group chats. Users connected through blockchain finance need more personal communication channels.

Polymarket also faces regulatory barriers, leading to stagnation in features such as mobile apps. The user experience is poor, missing out on convenience. Growth potential is suppressed - who is still using web pages in 2024? Mobile is the future, and its dominance will only grow stronger.

*Polymarket's community engagement is limited to comments on topics or markets, failing to form active discussions.

*Financially, the platform is not attractive; AMM (Automated Market Maker) is neither fair nor attractive when considering impermanent loss, returns, and capital exposure.

This is why I emphasize the close connection between "prediction markets" and "social," despite my cautious approach from a "financial" perspective. We all look forward to DeFi bringing breakthrough features to prediction markets. Look at how Blur.io has reshaped the NFT market and other innovative DeFi strategies.

Areas of Interest / Further Exploration

We have focused on the social, payment, and financial areas in the TON ecosystem and discovered early opportunities for exploration.

Are you curious why I categorize proof of work (PoW) as payment? Bitcoin has revolutionized energy efficiency, reducing electricity costs and driving advancements in power technology. This is the best example of innovation driven by payment.

There is still much to cover: DNS domains, MEME culture, credit cards, cross-chain bridges, and more.

3. Vertical Expansion Discussion

Each category opens up an area suitable for exploration. Want to know how to inspire creativity beyond this list? Of course, there are ways.

Users (B2C)

Think vertically to develop your business. Social and payment areas overlap because both rely on a large user base. Companies like Amazon, which sell directly to shoppers, exemplify B2C transactions. Applications that facilitate social connections or sell digital goods also fall into this category, leveraging user engagement for expansion.

• Here, projects that connect the social and payment areas stand out.

• The gaming industry is particularly prominent, combining social interaction with payment demands, driving the growth of both ecosystems. For example, the Catizen (@Catizen) mini-app through @Telegram Stars has generated over $6 million in revenue.

• In my view, the advertising business also falls into this category.

Developers (B2D)

In the payment and financial fields, innovative developers are driving growth and breakthrough business models. Imagine blockchain payment APIs or developer-specific decentralized finance (DeFi) protocols - they transform ordinary yield-generating services into powerful profit engines.

• Imagine combining "existing payment channels" with on-chain transactions. This is the next major leap, and tokenizing Telegram Stars could completely change the game.

• Many projects face difficulties in dealing with the complexity of Telegram Stars, striving to address its strengths and limitations. While we cannot go into detail here, this is a goldmine waiting to be developed. Dive deep to unlock new potential.

• What is the real highlight? Developers have a huge opportunity to address these challenges and ignite a wave of new projects. This is a major pain point waiting for innovative solutions.

Liquidity (B2B)

Enhance liquidity and drive growth through strategic B2B alliances. Collaborate with other businesses to form a strong network to enhance liquidity and drive collective success. This strategy creates a robust ecosystem, crucial for decentralized finance (DeFi) and social platforms like Telegram. In simple terms, it's about converting traffic into profits.

• The potential here is undeniable; the synergistic effect of Launchpool, decentralized exchanges (DEX), and social features is particularly exciting.

• Emerging "yield" products, combining financial tools with social features, are poised to fundamentally change the market. Innovative products from Alipay demonstrate the powerful combination, especially evident in China.

4. Conclusion

While we have delved into various categories, there are still areas that require more attention, revealing lucrative opportunities for innovative teams. Mini-app games have recently dominated, perhaps due to fatigue from click-to-earn or invite-to-earn models, and the fiercely competitive market environment.

However, the thought of unexplored hot topics is exciting. These topics have the potential to evolve into billion-dollar businesses on Telegram mini-apps and the TON blockchain.

Promising areas include credit cards (cashback) and gift card businesses, real-world assets (RWAs), earning products, initiatives like Launchpool, or companies focusing on offline QR code payment solutions. These directions are full of potential and worth exploring in depth.

5. Afterword

Layer 1 blockchains can be likened to a country. Although TON may not be perfect, it is full of potential and hope - just like the American Dream. In the 1980s, a new wave of immigrants came to the United States, bravely pursuing their dreams.

Today, the consensus of the EVM ecosystem is crumbling. We see Solana pushing the boundaries of a single chain, and Bitcoin's Layer 2 is also gaining attention.

As someone who has experienced the DeFi summer boom, my choice is very clear - I see hope here.

• Would I advise a young graduate to develop on Ethereum? No.

• Without millions of dollars, the chances of success are slim.

• Would I recommend a Web2 game studio to choose an EVM blockchain? No.

They lack users. Look at "Black Myth: Wukong" - would it be popular without Steam? Unlikely. The platform is important.

Our ecosystem is full of real growth potential. No matter what project you are working on, you still have a chance to succeed. This place is like the American Midwest in the 1980s or Dubai today - you can become anyone you want to be.

TON/Telegram has a huge user base, seamless cross-platform functionality, and powerful value transfer capabilities, serving as a rocket to propel your career.

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