The Open Network (TON) is preparing to introduce a bridge allowing users to transfer Bitcoin to the Telegram-affiliated network for decentralized finance (DeFi) applications. The TON Foundation, backing TON, has unveiled plans for TON Teleport BTC, a trustless bridge aimed at enabling secure Bitcoin transfers to and from the TON network.
TON Teleport BTC aims to allow Bitcoin holders to participate in DeFi activities on TON while maintaining the security of their original assets. Users will be able to engage with decentralized exchanges, lending platforms, and other DeFi applications within the TON ecosystem. The process is designed to be entirely trustless and transparent, operating without a centralized issuer.
In a statement, Anatoliy Makosov, TON’s technical lead, emphasized that transactions are processed via smart contracts and verified by TON blockchain validators. Storing and utilizing Bitcoin on TON provides security akin to the Bitcoin network, yet at a notably reduced cost and enhanced ease.
The Open Network is closely aligned with the popular messaging app Telegram, which uses TON for ad revenue sharing payments with channel owners and other purposes. Telegram originally created TON internally but abandoned the project in 2020 amid regulatory scrutiny. Development has continued externally via a community of builders.
TON has seen increased attention and a rise in its token price this year, fueled by growing adoption from Telegram and a surge in crypto gaming. Popular Telegram-based games like Notcoin and Hamster Kombat have contributed to this interest.
The launch of TON Teleport BTC represents a significant step in expanding the TON ecosystem and providing more opportunities for Bitcoin holders to engage with DeFi on a secure and user-friendly platform.