The Toncoin (TON) ecosystem is preparing for several high-profile airdrops this month. After the stress test of Dogs (DOGS), Toncoin and Telegram users eagerly await Hamster Kombat, Citizen, and other game tokens.
Toncoin (TON) will continue with a series of high-profile airdrops in September, with the most awaited event toward the end of the month. The Hamster Kombat tap-to-earn game will airdrop before September 26 and start trading soon after.
Catizen, one of the top games with a Web2 element and token farming, is launching its token on September 20. Catizen is now in the process of securing trading platforms and is awaiting an OKX spot trading pair. The game will potentially bring more than 500K users to own and trade the CATI token.
The closest listing for the Lost Dogs project arrives this Thursday. The Lost Dogs team combines an NFT collection and a mini-app tied to the Notcoin ecosystem. Lost Dogs also carries daily challenges based on collectible cards.
Two more prominent airdrops come from top 10 Telegram communities. The MemeFi Club airdrop is coming on October 9. The token community has more than 15M members based on channel subscribers.
The Blum crypto community reached more than 21M subscribers but has decided to keep them guessing with no specific date. However, Blum plans to launch in Q4. Tapswap, a community of more than 25M subscribers, is also approaching its airdrop. Previously, the Tapswap mini-game aimed for a Q3 launch, but the exact date has not yet been given.
Other prominent airdrops will include Ton Station, Major of Telegram, Cats, X Empire and Pocket Fi. The popularity of the mini apps stems from their challenges and idle gameplay. Some of the tap-to-earn features are often automated by users, creating relatively unfair competition.
Unlike other idle or clicker games, Toncoin projects do not require an upfront investment in crypto, except for creating and funding an initial wallet with some TON.
Toncoin expands through token ownership
Token launches have turned into one of the biggest growth factors for Toncoin. The network broke the daily active users milestone with more than 1.1M. As of September 7, the network reached peak activity, expecting new tokens to add to the growth.
Toncoin already doubled its token holder count since June, with more than 60.9M owners of ‘jettons’, the native token standard. For Toncoin, the constantly issued meme tokens had a lesser effect compared to the assets of tap-to-earn games.
Some of the activity related to airdrops may be linked to bots or impersonating accounts. Each project will have its own policies against manipulated point farming. The Hamster Kombat airdrop recently slashed the points of up to 50% of participants after months of accumulation. The remaining point holders may hope for an even more fortunate airdrop.
Toncoin already has an ecosystem of tokens, though it has a very small weight in terms of market capitalization. The entire Toncoin ecosystem is valued at $14.8B, of which $13.1B is tied up in the market capitalization of TON. Notcoin (NOT) is the second-biggest asset, not yet reaching a market cap of $1B.
With the launch of more tokens, the value of the Toncoin ecosystem may expand more rapidly. Just days after its launch, DOGS retained a market cap above $500M while trading at $0.001. The value locked on Toncoin was limited for a long time by the lack of listings and skepticism about Telegram communities.
Toncoin also has a smaller ecosystem of meme tokens, which graduated to decentralized exchanges. The total market cap of those assets is around $617M, with most assets following earlier trends such as WifHood. DOGS has also been added to the list of meme coins, although it did not go through a launchpad phase. The arrival of tap-to-earn tokens tied to games brings back a model of long-awaited, formal launches with a chance of listings on major exchanges.
TON recovered to $5.20 after dipping to the $4.80 range. The relatively lower price of TON continued to put pressure on TVL in its decentralized protocols. The Toncoin network is still generating fees above $150K daily, though it still has expenses above $300K per day.
The main expense of Toncoin is the incentive for network validators. Increased activity means Toncoin produces revenues with more efficiency. Toncoin is still operating at a loss, with $3.53M in monthly revenues from fees and $10.5M in the form of incentives, based on Token Terminal data.
Cryptopolitan reporting by Hristina Vasileva
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