Partnered firms involved in TAC collectively manage a Total Value Locked (TVL) of over $7 billion, which will bolster the DeFi utilities on Telegram.

TAC's pre-mainnet liquidity bootstrapping campaign, known as The Summoning, has attracted considerable interest, securing over $700 million in TVL ahead of the public launch.

Overall, The Summoning has contributed to a combined total of $817 million across two campaigns, reflecting strong community support for TAC's mission.

TAC, also referred to as the TON Application Chain, aims to bridge Ethereum decentralized applications (dApps) with the Telegram ecosystem.

The recent funding rounds underscore institutional confidence in TAC's vision to enhance blockchain functionality for Telegram's billion users.

TAC has successfully raised a total of $11.5 million in funding, including a recent $5 million strategic round led by Hack VC, to enhance its blockchain initiatives within Telegram's ecosystem.

The project is on the verge of its mainnet launch, currently in a phased rollout with prominent DeFi protocols like Curve, Morpho, and Euler already deploying on the platform.

To ensure a robust launch, TAC is collaborating with these leading DeFi platforms to pre-build over 20 applications for immediate integration upon the mainnet launch.

The primary objective of TAC is to provide EVM developers with the essential tools to deploy applications within Telegram, making decentralized finance (DeFi) services accessible to everyday users.

Additionally, TAC aims to integrate dedicated Telegram Mini Apps for DeFi protocols, which will facilitate access to financial services for non-crypto users and promote mass adoption.

The funding will support core DeFi applications from the outset, enabling effective market functionality and creating real yield opportunities.

This significant TVL is expected to provide the necessary momentum for the ecosystem following the launch, enhancing its market presence.