Telegram-backed ‘The Open Network’ (TON) Opens up New Phase for Megaton Finance
SEOUL, KOREA, Feb. 27, 2023 (GLOBE NEWSWIRE) — Megaton Finance (developed by OZYS) has consolidated its position as the No. 1 DEX, presenting a new standard for the TON ecosystem.
Following its successful launch, Megaton Finance is posed for another leap in the game. Prior to the Token Generation Event (TGE), on March 9, its governance token, MEGA is expected to be listed on Global Cryptocurrency Exchange, Huobi Global, March 7.
Megaton Finance is an Automated Market Maker Decentralized Exchange (AMM-DEX) protocol running on TON, developed by OZYS, Korea’s leading blockchain technology company. Even before the issuance of MEGA tokens, and within a week of the grand launch, Megaton Finance achieved $7M TVL with an overwhelming 90% dominance in the TON ecosystem despite bear market conditions.
Megaton Finance is the TON version DeFi services of Klaytn’s KLAYswap and Polygon’s Meshswap developed by OZYS. Anyone can use Megaton Finance by connecting TON Wallet, Tonhub, or Tonkeeper. The Megaton Finance team expects that future version updates will diversify MEGA’s use cases.
The TON blockchain originated as a Telegram blockchain project but is now being developed by a decentralized developer community. Since last year, OZYS has collaborated with TON Foundation to establish a user-friendly ecosystem aiming to onboard 700 million Telegram users to Web3.
In addition to DEX building, OZYS is also known for cross-chain technology. OZYS’ Orbit Bridge boasts over 850K transactions, amounting to a cumulative transaction volume of $12.5B. Orbit Bridge currently supports 20 blockchains and 94 assets. With its utmost dedication to safety and stability, Orbit Bridge is audited regularly by Theori and has proved its resilience in security since its launch.
OZYS multichained TON by connecting it to Orbit Bridge. As a result, main assets such as BTC, ETH, MATIC, USDC, and USDT have flown into the TON ecosystem, and Toncoin could also advance to other mainnets. The TON Foundation is also participating as a validator for Orbit Bridge.
OZYS also developed WTON Gateway, a wrapping protocol to expand the usability of native Toncoin. In the TON ecosystem, WTON Gateway has already established a firm position on TON as its TVL is approximately 130 times higher than other wrapping protocols. OZYS is also working on a non-custodial wallet with a chatbot function that can be linked to a Telegram account.
Various Web 3 builders, including the TON Society, Tonstarter, TON Ecosystem Builder (TEB), The Open Network Alphanonce VistaLabs (TAV), WEMIX, GALAXIA, DWF Labs, FS Labs, Encoding Labs, and Orbs, are partners of Megaton Finance.
Megaton Finance is audited by CertiK, a web 3/blockchain/smart contract security firm and has also been awarded the ‘CertiK KYC Gold Badge’.
The launch events are currently underway, including the support of the TON transaction fees. For further information, visit megaton.fi.
About Megaton Finance
Megaton Finance is a No.1 AMM-based DEX on TON (The Open Network) ecosystem, fully built by OZYS. It is audited by CertiK.
Megaton Finance will establish itself as a user-friendly DeFi protocol that can embrace both existing DeFi users and 700 million Telegram users.
Ultimately, the chatbot function on Telegram will be installed and combined with the Megaton Finance protocol to create the perfect synergy with the Telegram messenger service.
OZYS, the developer of Megaton Finance, is a leading blockchain tech company specializing in both scalability and interoperability at a profound level since 2018, located in the Republic of Korea.
OZYS has organically developed and provided a wide variety of highly sophisticated services at a global level including Mainnet (Orbit Chain), Node Operation, Cross Chain(Orbit Bridge), DeFi (KLAYswap on Klaytn, Meshswap on Polygon, Megaton Finance on TON, Belt Finance on BNB), and Explorer(KlaytnScope).
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