Tonpound

Tonpound Protocol.

The first decentralized lending protocol to connect The Open Network and Ethereum blockchain

Key takeaways:

• Tonpound is the first lending protocol that allows use of TON staked in nodes on The Open Network as collateral on Ethereum blockchain.
• This potentially connects billions of dollars worth of liquidity on both networks, allowing TON holders to use powerful DeFi apps on other blockchains while simultaneously drawing attention of Ethereum users to The Open Network
• The Tonpound DAO will utilize an innovative system of governance NFTs (gNFT) for voting and providing benefits such as distribution of protocol earnings.
• Tonpound Participation Index (TPI) token must be burned to mint gNFTs. TPI will serve as an index of community engagement and will be airdropped for free to early supporters and liquidity providers (Fair Launch).

Introduction

The Open Network’s native token, Toncoin ($TON), is one of the largest cryptocurrencies on the market, being valued at $3.5 Billion capitalization. Nevertheless, since DeFi apps have only started to emerge on TON, Toncoin holders currently have almost zero alternatives to node staking when it comes to passive income.

To leverage this potential, the Tonpound team has made the first move on the market and built a lending protocol which will offer an ultimate solution for maximizing profits from otherwise unallocated TON holdings.

Tonpound’s first version will be released on Ethereum and provide support for TON through third-party staking solutions like πTON. As a result, by using Tonpound, Toncoin holders will at the same time enjoy triple benefit:

Collect staking rewards from the TON node.

Earn interest on lending wrapped TON (Supply APR).

Leverage their position by borrowing more assets on Ethereum network.