Toncoin Is The Future Of Currency. Could Elluminex Become The Future Of DeFi?

Last Updated: February 25, 2025By Editors Desk

The crypto bull market has been in overdrive lately, with asset prices reaching record highs. Moreover, this excitement also pushed crypto projects to work toward even bolder goals. One of these projects is TON, which is taking steps to challenge global payments giants.

Thanks to its integration with Telegram, and access to its 950 million users, TON has the potential to be the future of payments. What is more, TON could get a major boost for this goal thanks to Elluminex joining its DeFi ecosystem.

Toncoin Sets Its Sights On Payments

Recent events have once again propelled Toncoin (TON) into the spotlight. After seeing an impressive performance last year, the token is gearing up for further growth. Notably, thanks to its Telegram integration, TON is taking on real-world use cases, including payments.

Recently, Telegram released a big announcement that will make Toncoin a big player in the payments arena. The messaging app has made Toncoin the only authorized currency on its platform. This means that all services on its mini-apps will have to use Toncoin, including subscriptions, advertisements, and more.

This move showcases just how big an advantage the Telegram integration is for Toncoin. Soon, the entire Telegram ecosystem will boost Toncoin, boosting transaction volume and creating demand for the token. At the same time, this move is setting up Toncoin to enter the currency arena.

To that point, Tonkeeper, the wallet solution for TON, has released its own mobile app for iOS and Android. This app will make transactions on the network easier than ever, potentially taking on other payment giants.

All these developments come after Toncoin already saw impressive performance. At $5.14, Toncoin is up 138.97% from the same time last year. However, its network grew even more, with an 800% increase in total value locked in at its peak in 2024. The network also showed a 3380% increase in active addresses. These metrics suggest that its ecosystem is attracting a lot of users.

Elluminex Set To Overhaul TON’s DeFi

Despite a significant growth in use cases and users, TON is still a relatively small network when it comes to DeFi. Notably, the network lacks a dedicated DEX, which hurts its liquidity. This is something that Elluminex (ELX) aims to solve.

Elluminex is a TON-based DEX, focusing on cross-chain interoperability. Through a series of bridges, the DEX will enable token swaps across more than 40 blockchains. This infrastructure will bring much-needed liquidity for TON, which is key for its future growth.

Liquidity helps stabilize asset prices, increasing confidence among investors. It also reduces slippage on Elluminex, which is crucial for traders. Low slippage means that traders retain more of the profits they make when placing trades. At the same time, an influx of liquidity also boosts network TVL and market cap in the long run.

In the context of payments, liquidity also has an important effect. For users who want to use TON for payments, the network has to have enough stablecoins to accommodate them. This way, Elluminex will support TON’s transition into a potential payments giant.

For more information about Elluminex (ELX) visit the links below:

Website: https://elluminex.com
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex

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