Big Crypto Players See A Breakthrough With New DeFi Token Set To Take Over The Ton Blockchain
Last year, TON was one of the fastest-growing blockchains, especially during the latest market cycle. The blockchain attracted a record number of users, with both transaction volume and DeFi TVL increasing significantly. Now, the chain is expected to move higher.
The new DeFi token will do for TON what Uniswap did for Ethereum or Pancakeswap did for BNB. Elluminex, a TON-based DeFi center, has the potential to release a large amount of liquidity for TON. This will not only increase the price of TON and the TVL of its ecosystem, but will also bring more users and developers to the network.
How TON challenges BNB, Solana, and Ethereum
Open Network (TON) Probably one of the most undervalued coins. Its current market capitalization is $15.51 billion, ranking 15th among crypto assets. Therefore, it still lags behind assets like Chainlink and Avalanche. However, this may soon change.
TON’s unique advantage is its Telegram integration. With over 1 billion active users, this messaging app has huge potential to introduce them to Web3. So far, TON applets have filled this role, enabling users to interact seamlessly with Web3 applications.
This has made TON the fastest growing blockchain this year. However, its growth has slowed due to a lack of liquidity in the network. So far, TON has lacked a reliable DeFi center and a multi-chain DEX that can bring liquidity to the network.
The effects of DeFi hubs like this can already be proven on other chains. For example, after the launch of Uniswap, Ethereum rose from about $200 to nearly $1,000 in less than a year. PancakeSwap had a similar impact on BNB, which rose from $40 to $600 in 2021. The liquidity released by these DEXs is critical to supporting the growth of these tokens. Now, Ellumines hopes to do the same for TON.
How Elluminex promotes TON’s ecosystem
Elluminik(ELX) There is potential to take TON to the next level thanks to a range of advanced features that appeal to both experienced traders and novices alike. This focus is key to ensuring that TON attracts a large number of traders and a large user base.
One of the key aspects of Elluminex is its cross-chain compatibility. The platform operates across 40 blockchains, enabling users to transfer assets seamlessly. By seamlessly connecting TON to other blockchains, Elluminex will also bring much-needed liquidity to the network.
Another key aspect is its focus on education. The platform will feature a new user learning center as well as advanced artificial intelligence capabilities. For example, its AI-powered portfolio tracker will provide traders with personalized recommendations to further help educate them. These features are critical because they bridge the gap between relatively inexperienced traders and advanced traders.
Likewise, Elluminex focuses on usability. One of the biggest obstacles to the growth of DeFi so far is its complexity. Although centralized exchanges have their drawbacks, they offer a more user-friendly experience. For its part, Elluminex hopes to bring a CEX-like user experience through the advantages of DeFi (such as self-custody).
All these features indicate that TON will benefit greatly from a high-quality DEX on its platform. More importantly, early-stage projects like Elluminex will also benefit greatly if they succeed in becoming an important part of the TON ecosystem.
For more information about Elluminex (ELX), please visit the following links:
