TON’s ecosystem has introduced a new asset issuance model: off-chain high-frequency, low-cost traffic issuance of on-chain assets. This model has been successfully implemented by NOT, and major project parties have rushed into the TON ecosystem like sharks smelling blood. This article is sourced from the Twitter account of crypto KOL Bitfools and has been edited and organized by the editorial department of Dynamic Zone.
Background:
Pantera Capital: Establishment of new fund increases investment in TON! Toncoin outperforms the market with a 22% increase in a single month
TON introduces a new asset issuance model
1. Some people in the community claim that TON is a new project, but this is simply not true. However, TON has indeed undergone some changes in this cycle. Currently, there are no standout products at the Dapp level, and all products that have come out have failed. In addition, the support from Tg for TON’s traffic has been biased, making TON’s ecosystem the only product that can attract attention.
2. TON has now emerged with a new asset issuance model: off-chain high-frequency, low-cost traffic issuance of on-chain assets. This model has never appeared before and has never been successfully implemented until now by NOT.
3. Take a look at this formula:
Cost per individual user in TG / Conversion rate < Estimated value of assets on the Ton chain * 2 / Number of users
As long as this condition is met, major project parties have rushed into the TON ecosystem like sharks smelling blood, and the development cost of mini-programs in TG is almost zero.
4. Let's look at NOT's data:
Notcoin has 2.5 million holders and a Fully Diluted Valuation (FDV) of 1.57 billion. The ARPU value per user is $630, with an estimated 30 million users and 5 million daily active users, resulting in a conversion rate of 10%. As long as the cost of acquiring customers within TG is less than $63, it can be profitable. Currently, a large number of studios are entering to develop TG mini-games, with the customer acquisition cost almost at zero. NOT has revealed a new and profitable way of issuing assets to all developers.
5. However, the status of NOT on the exchange is unknown to the author. The number of users that can be converted into exchange users will determine the continued interest of the exchange in listing. Friends who are aware of this are welcome to share in the comments section.
Conclusion
The rapid emergence of this new issuance model and new targets is foreseeable. Several waves of people around the author are already preparing to develop TON, signaling a trend. However, the sustainability of this model is questionable, with inflection points such as exchange traffic marginal effects and retail acceptance quickly approaching. Essentially, this web2 traffic-catalyzed asset issuance will find it difficult to challenge the massive ETH system of crypto-native assets.Related Reports
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