Megaton Finance Pre-Launches on the TON Blockchain

Ozys, a South Korea-based blockchain firm has announced the pre-launch of Megaton Finance, a TON mainnet decentralized exchange (DEX).

According to a Telegram channel post, the full launch is scheduled to be held in the first week of January 2023. Once fully launched on the TON Network, Megaton Finance will provide users of the ecosystem with the ability to easily and conveniently exchange and deposit various assets. 

Megaton Finance is an Automated Market Marker (AMM)-based DEX as well as a multi-chain Decentralized Finance (DeFi)-protocol.

Its focus is on expanding the “cross-chain popularity of the TON ecosystem and use cases of the TON blockchain.”  In the long run, it hopes to secure the liquidity of some popular digital assets including Ethereum (ETH), wrapped Bitcoin (WBTC), Tether (USDT), USD Coin (USDC), Dai (DAI), and Polygon (MATIC).

The inflow of these cryptocurrencies will provide users with the opportunity to build and own a vast portfolio of assets. Also, they get to pick from several tokens in order to maximize their assets. Ozys will keep developing new assets through the introduction of tokens to the TON network. Already, Ozys developed Klayswap for Klaytn and Meshswap for Polygon mainnets.

TON Network Promote DeFi Expansion

Additionally, new users who join the community channels, complete some downloading and transfer of Toncoin to core TON wallets will be allowed to participate in the promotions and airdrops which will come with the launch of Megaton Finance. Ultimately, onboarding these users from several other protocols to the TON ecosystem will lead to the expansion and development of the ecosystem.

Altogether, the collaboration between the protocols will cause the general DeFi market to surge positively.

The TON Network has been expanding gradually so far. After announcing plans to allow users of the Telegram app to transfer their unique catchy usernames to interested entities, it was published a few days ago that the protocol secured more than $50 million from the sales of such usernames. These users transfer the usernames through NFT-like smart contracts on the TON ecosystem.

The sales are conducted on Fragment, a blockchain-based platform, and payments are made using Toncoin.