- TON Core and Tonkeeper introduce W5 smart wallet, enabling gasless transactions using USDT and Notcoin.
- The new wallet allows up to 255 simultaneous transactions, enhancing efficiency and user experience.
- TON surpasses $760 million in TVL, becoming the 10th-largest blockchain despite being new to the DApp space.
The TON Core team, in collaboration with Tonkeeper, has launched the W5 smart wallet standard, bringing gasless transactions to The Open Network (TON) blockchain. This upgrade to the existing wallet smart contract will allow users to utilize Tether (USDT) and Notcoin (NOT) for gas fees, removing the need to hold Toncoin for payments.
The W5 smart wallet, now live in Tonkeeper and soon to be available on TON Space and MyTonWallet, represents a significant advancement in transaction management on the TON blockchain. Developed by Tonkeeper and approved by the TON Core team, this wallet introduces gasless features for USDT and Notcoin payments. This innovation aims to lower entry barriers for new users and streamline the transaction process.
The smart wallet also supports executing up to 255 transactions simultaneously, enhancing the efficiency and overall user experience on the blockchain.
Growth in Total Value Locked
The introduction of the W5 smart wallet coincides with TON’s rapid ascent in the decentralized application (DApp) space. Despite its recent entry, TON has surpassed Optimism to become the 10th-largest blockchain by total value locked (TVL), now exceeding $760 million. This growth is partly fueled by strategic partnerships, such as the collaboration with 1inch and Sign to launch the Web3 startup accelerator Triangle, which focuses on developing play-to-earn mini-games.
Focus on Security and Expansion
On July 18, the TON Foundation further solidified its platform by introducing a Bitcoin bridge, reinforcing its vision of being a “blockchain of blockchains.” Jack Booth, the marketing director of the TON Foundation, highlighted the security measures of the new BTC bridge, emphasizing its resistance to private key compromises. This bridge enables users to transfer Bitcoin to the TON blockchain, enhancing interoperability and security.
The launch of the W5 smart wallet and the continuous expansion of TON’s capabilities reflect the network’s commitment to providing innovative, user-friendly solutions in the evolving blockchain landscape.
