Nothing to Hide

CoinFund Backs, Top DEX in the TON Ecosystem

Ukraine seizes $19,500 from crypto wallet dedicated to supporting Russian forces

CoinFund Backs, Top DEX in the TON Ecosystem

CoinFund has led a previously undisclosed funding round in, the leading DEX within TON ecosystem. An official statement says the new capital will fuel’s growth and expand DeFi services to Telegram users. Since the beginning of 2024, STONfi's total value locked has skyrocketed 26 times, surpassing $120 million.

CoinFund has announced a significant investment in, the leading decentralized exchange (DEX) within The Open Network (TON) ecosystem. The specific amount of funding and valuation data have not been disclosed.

An official statement says the new capital will fuel’s rapid growth and expand DeFi services to Telegram users.

CoinFund and Delphi Ventures Back

Other notable investors participated in the investment round, including Delphi Ventures, TON Ventures, 1inch Co-Founders Sergej Kunz and Anton Bukov, and LI.FI CEO Philipp Zentner.

Jake Brukhman, CEO of CoinFund, expressed his enthusiasm for the partnership:

“ has demonstrated remarkable innovation in the DeFi space. We believe this collaboration will significantly enhance the economic capabilities within the TON ecosystem and facilitate seamless integrations with Telegram”, he stated.

Integrated with Telegram Messenger, provides a decentralized cross-chain platform, enabling to trade crypto assets across multiple blockchains. Since the beginning of 2024, its total value locked (TVL) has skyrocketed 26 times to over $120 million. The platform also leads the TON blockchain in spot volume, reaching approximately $676 million in April.

“ exists to make it simple and fair for everyone to access DeFi as easily as they use Telegram. We are building a cross-blockchain decentralized platform that provides a reliable and secure way to trade cryptocurrencies without relying on centralized institutions”, says CEO Slavik Fokin. TVL. Source: DefiLlama

The Open Network is the blockchain Telegram uses to help developers create new products and unlock economic opportunities. With 900 million MAU, Telegram has one of the largest global audiences. Soon, it will gain seamless access to crypto as TOP, the company behind the Telegram-native crypto wallet, is rolling it out to every user outside the US.

Read more: 5 Best Toncoin (TON) Wallets in 2024

The recent funding round marks a significant milestone for and its mission to drive DeFi innovation on TON. With support from CoinFund and other prominent investors, the platform will enhance its offerings and solidify its leadership in the decentralized exchange market.

Top crypto projects in the US | May 2024

Harambe AI
Explore →

Explore →

Explore →

Explore →

Chain GPT
Explore →



In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.