In the blockchain arena, The Open Network (TON) is showing strong growth thanks to its unique advantages and a massive user base of telegram. CryptoQuant has named it one of the best-performing Layer 1 blockchains of 2024.
A thriving ecosystem often leads to a proliferation of projects. Recently, a TON L2 project called DuckChain, focused on bringing liquidity and users from the EVM and Bitcoin ecosystems, announced a collaboration with Arbitrum. Utilizing the Arbitrum Orbit solution, DuckChain aims to build a Layer 2 on the TON ecosystem, addressing the current complexities in TON's development framework and isolated liquidity.
Notably, DuckChain is the first EVM-compatible Layer 2 incubated by TONScale Labs and the first non-Ethereum ecosystem Layer 2 powered by Arbitrum. Its related proposal received an 84.5% approval rate in the Arbitrum DAO on August 1.
A Tech-Hardcore Yet Practical TON L2 Project
DuckChain is the first TON L2 project to bring liquidity and users from the EVM and Bitcoin ecosystems. It's also the first non-EVM L2 project built on the Arbitrum Orbit architecture, powered by Arbitrum.
DuckChain's whitepaper is both fascinating and intricate. Simply put, DuckChain = TON User + EVM Infra + Liquidity integration = Make TON Mass Adoption
Supported by TONScale Labs and built on the Arbitrum Orbit technology, DuckChain integrates with the EVM and Bitcoin ecosystems. It aims to create developer-friendly infrastructure and user-friendly liquidity layers for large-scale adoption.
The core team of DuckChain consists of former members from renowned public chains such as Ton, Tron, and ApeChain. They are graduates from prestigious universities like Cambridge, Tsinghua, Columbia, Cornell, and Peking University. The team has extensive experience in blockchain development and operations, and is dedicated to building developer-friendly infrastructure and liquidity layers to enable large-scale application deployment.
What Will DuckChain Bring to TON?
Infrastructure: Greater Prosperity
The complexity of TON's current infrastructure and development framework makes building and deploying applications much more challenging than on other blockchain platforms, deterring many developers. Although TON supports smart contracts, their complexity hinders effective integration with Telegram bots. Most TG Bots are limited to basic token operations, stifling innovation and ecosystem growth.
Simplifying the use of smart contracts and enhancing the integration of TG Bots is crucial to unlocking TON's full potential.
DuckChain's collaboration with Arbitrum will provide developers with a familiar EVM-compatible development environment, integrating the EVM development framework with TON. This will make it easier for developers to build and deploy applications within the TON ecosystem, promoting large-scale adoption.
DuckChain will also offer staking, market, bonding curve, DID, and other modules to developers and ecosystem projects, enabling them to easily integrate more application modules on-chain. It will also provide an open-source community to enhance on-chain activity.
By connecting TON with the EVM ecosystem (especially Ethereum), DuckChain can access a vast amount of open-source development resources, mature DeFi protocols, and various dApps. This connection not only allows TON to integrate with established technologies but also attracts developers familiar with the EVM environment, driving further growth and adoption.
Liquidity: Breaking Through Limitations
The complexity of the development framework also leads to insufficient liquidity in the TON DeFi ecosystem, with TON's TVL currently at $700 million，and with over 90% consisting of TON and USDC.
DuckChain will use TON as the native gas fee. Through abstraction functionality, various tokens can be used to pay gas fees, increasing liquidity. Users can pay gas fees directly on the TON Chain, with transactions being packaged on DuckChain, naturally aggregating the liquidity of both TON and DuckChain.
Moreover, by integrating with the Bitcoin ecosystem (including the BTC mainnet, BTC Layer 2 solutions, and Babylon ecosystem), DuckChain will bridge the largest and most capital-rich market in the crypto space to TON, bringing ample liquidity.
Conclusion
The collaboration between DuckChain and Arbitrum marks a significant advancement in Layer 2 solutions for the TON ecosystem. By introducing the EVM development framework and liquidity, DuckChain not only brings new opportunities to the TON ecosystem but also provides new solutions for the entire blockchain industry. We look forward to DuckChain achieving greater success in the future, driving widespread application and development of the TON ecosystem.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: DuckChain
Contact Person: Mr Duck
Email: Send Email
Country: Virgin Islands (British)
Website: duckchain.io
