September 16, 2024
TON Labs is proud to announce it has begun a $5 million funding round led by Arena VC as it debuts Faston Swap,a leading trustless, non-custodial, cross-chain trading platform with best prices and security.
Faston Swap is the first platform of its kind on TON and the first to integrate multi-chain exchange and trading of tokens on TON,Ethereum, Base, Optimism, Arbitrum, Avalanche, Polygon, BSC, and other 200+ blockchains. More networks and product enhancements are scheduled to be added soon.
“We are excited to bring Arena VC onboard as a highly regarded and trusted partner,” said Jacky Walker, TON Labs Co-Founder. “Arena VC is legend in the crypto space and their expertise and friendship are valued by myself and the TON Labs team. With their support, we add additional expertise and advisory to take TON Labs to the next level.We will allocate $2 million for Faston Swap’s community development.”
TON Labs, which is hot-launching the Faston Swap platform’s TGE globally this month, is on a mission to expand the total addressable crypto market through user-friendly tools. One important focus by the team is fairer, safer exchange which is why the platform has begun rolling out its ‘wallet-less’ features.
TON Lab’s innovations are driven by its commitment to accessibility. By taking a cross chanin approach, the platform democratizes token swap and trading, allowing users to safely swap tokens on 200+ blockchains of their choosing in as little as 60 seconds with easy-to-use tools.
Capital and Expertise TON Labs has begun a $5 million funding round led by Arena VC, a private venture capital firm founded by crypto experts. This brings two valuable ingredients to the project: capital and experience.
“The team at Arena VC is proud to be an investor in TON Labs. We believe they are the leaders in building easiest-to-use on-chain tools that help grow the crypto ecosystem and foster further consumer adoption,” said Arena VC Co-Founder William Bruce.
Proceeds from the funding round will accelerate TON Labs' development and expansion, enabling the platform to reach new markets and continue innovating in the blockchain space.
TON Labs is a pioneering blockchain technology company revolutionizing the crypto space based on The Open Network. Founded by industry veterans Jacky Walker and Nick Smith, TON Labs aims to democratize access to cryptocurrency markets.