TechFlow reports that the organization supporting Telegram's preferred blockchain, The Open Network (TON), announced on Friday an additional injection of $24 million worth of Toncoin (TON) into its DeFi incentive program, bringing the total value of the initiative to over $75 million.
The TON Foundation initially launched the program in April this year to encourage user participation in decentralized finance (DeFi) applications on the TON network.
Currently, the network is primarily known for popular crypto-based games and related airdrops on Telegram. The newly added 5 million Toncoin will be specifically allocated to reward liquidity providers on STON.fi and DeDust, the two largest automated market maker (AMM) DeFi protocols on the TON network.
Users providing liquidity in TON-USDT, tsTON-USDT, or stTON-USDT pools will receive TON rewards.
