OKX Ventures has invested $5 million in TON Ventures to drive the development of the next generation Telegram native application.

By: blockbeats|2024/12/10 15:45:01

Source: OKX

On December 10, 2024, OKX Ventures, the investment arm of the world's leading cryptocurrency exchange and blockchain technology company OKX, announced a $5 million investment in TON Ventures. TON Ventures is a venture capital fund focused on accelerating the growth of The Open Network (TON) blockchain ecosystem. This investment aims to build a network of seasoned developers to drive best practices in TON application development.

This initiative complements the $10 million Telegram Growth Hub launched by OKX Ventures in partnership with The Open Platform and Folius Ventures, with a focus on enhancing technical expertise and development standards. Leveraging the direct reach of Telegram's 9.5 billion monthly active users, as well as successful mini-apps like Notcoin, OKX Racer, and Catizen, TON demonstrates strong potential for mass adoption.

TON Ventures, led by former TON Foundation executives Ian Wittkopp (Head of Acceleration Programs) and Inal Kardan (Head of Gaming), is dedicated to supporting early-stage consumer applications built on TON, with a focus on decentralized finance, gaming, creator economy, and infrastructure projects. The fund has already made significant strides in early investments, including supporting platforms like DeLabs and Goat Gaming, driving the development of creator economy infrastructure such as Memetics, and helping the Telegram community create a mini economy. In addition, TON Ventures has also invested in AI applications like Grably, which leverage TON and Telegram to access data and support AI models.

Jeff Ren, Partner at OKX Ventures, said: "As an early supporter of TON, our investment and partnership with TON Ventures further demonstrate our commitment to nurturing a community of skilled developers. The TON ecosystem requires developers who not only understand technical best practices but also deeply grasp the user experience needs of Telegram's native applications. This investment, along with our recent launch of the Telegram Growth Hub, reflects our long-term confidence in TON's potential to drive mainstream adoption of blockchain technology. We look forward to deepening our collaboration with the founding team of TON Ventures, whose expertise in the ecosystem will be a key driver in expanding the next generation of TON-native applications."

TON Ventures Partner Ian Wittkopp stated, "The OKX Ventures team has been one of the earliest supporters to recognize the core value of TON, which combines Telegram's social network with TON's blockchain technology, aiming to build a vibrant Web3 consumer app ecosystem that attracts millions of users. They have excelled in attracting top developers and providing funding support, driving the rapid growth of the TON ecosystem. We are excited to deepen our collaboration with the OKX Ventures team and look forward to years of close cooperation."

TON Ventures has successfully raised a $40 million seed fund led by founders Ian and Inal, leveraging their deep ecosystem expertise. The fund typically invests up to $500,000 in early-stage projects while remaining flexible to larger investment opportunities. Over the next few months, TON Ventures will focus on supporting core gaming experiences, expanding creator monetization tools, and advancing further growth in the TON decentralized finance space.

About OKX Ventures

OKX Ventures is the investment arm of OKX, a leading global cryptocurrency exchange and Web3 technology company, focused on discovering quality blockchain projects worldwide. OKX Ventures supports cutting-edge technological innovations, drives the healthy development of the blockchain industry, and invests in projects with long-term value. OKX Ventures is dedicated to supporting entrepreneurs in the blockchain industry, helping them build innovative businesses and providing global resources and rich experience to projects. For more information, visit the OKX Ventures website.

About TON Ventures

TON Ventures is a leading venture capital firm dedicated to advancing innovation in The Open Network (TON) ecosystem, supporting early-stage innovative startups built in the unique design space of TON and Telegram. TON Ventures offers financial investment, operational support, ecosystem expertise, and networking opportunities with top global industry partners for projects. By fostering close collaboration between investors and projects, TON Ventures is committed to accelerating the mass adoption of decentralized technology and empowering the next generation of Web3 entrepreneurs. For more information, visit here.

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This article is contributed content and does not represent the views of BlockBeats

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.

Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.

Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.

The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position

The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.

Social-Native Trading: Strategy and Execution Completed in the Same Context

Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying

On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.

Referral Mechanism: Non-institutional users can receive up to 60% fee split

Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings

This model aims to drive user-driven network expansion and organic growth.

Self-Custody Architecture and Built-in Privacy Mechanism

Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:

· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure

The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.

A New Path for On-Chain Derivatives

Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.

The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.

This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."

The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication

Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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