The TON Foundation recently allocated a $500,000 grant to HOT Labs, which aims to foster the growth of a specialized platform for meme coins within the Open Network (TON).
This investment facilitates easier access and encourages broader adoption of memecoins.
Established by Petr Volnov and Yuriy Olentyr, HOT Labs has made significant strides in blockchain innovation, contributing to various projects like Chain Signature and developing solutions such as the HOT Omni Chain.
This new initiative focuses on a DeFi layer capable of supporting gas-free transactions. Petr, who previously launched the HERE Wallet and the AI-based workout coach FORA, brings a wealth of experience to the table, enhancing TON’s DeFi capabilities.
The TON Foundation’s funding will assist HOT Labs in creating a platform that simplifies the launch and management of meme coins.
This effort is part of a larger strategy to stimulate activity around meme coins on TON. The aim is to increase trading volumes, attract more decentralized exchange (DEX) traders, and expand the overall meme coin ecosystem. By achieving these goals, TON hopes to position itself as a dominant force in the world of memecoins.