- The TON Foundation funds HOT Labs to help build the memecoin ecosystem.
- HOT Labs technology seeks to make it easier to create memecoins on TON.
The TON Foundation has given a $500,000 grant to blockchain developer HOT Labs to make a special platform for using and managing memecoins on The Open Network (TON). This project is part of TON’s bigger plan to be a top place for memecoins. It encourages more people to use and engage with them.
Blockchain experts and founders Petr Volnov and Yuriy Olentyr are starting the new HOT Labs. It is featured by quite new projects like HERE Wallet, with over 650,000 users on the NEAR blockchain, and FORA Vision – the AI workout coach. HOT Labs will take this grant to use the special Omni technology to enable gas-free transactions. It will also provide tools for memecoin creators to share tokens easily and connect with blockchain communities.
The memecoin platform wants to simplify creation and marketing for TON users by using HOT Omni technology. That way, creators will have simple tools and a smooth interface. Creators can easily design and launch custom tokens, helping them reach more people in TON’s growing user base with this.
Growing TON’s Memecoin Ecosystem.
The funding was distributed by the TON Memecoin Working Group, which is an independent project funded by the TON Foundation. It focuses primarily on growing memecoin trading volume, increasing the number of DEX traders, and assisting new memecoins in getting off the ground.
Grantees like HOT Labs should set very clear KPIs and have reports every two weeks, and regular updates. The TON Memecoin Working Group will also help with marketing and business development to make sure funded projects do succeed.
HOT Labs expects its memecoin platform to be useful for creators and traders, providing new features specifically made for the TON ecosystem. This will draw more people to the TON and improve its reputation as a place for memecoin innovation.
With the growing ecosystem of TON, the partnership with HOT Labs serves to be an important step in creating a lively and varied blockchain community.
