What drives the popularity of Telegram applets in 2024?

Author: Helen Partz, CoinTelegraph; Compiler: Baishui, Golden Finance

The Open Network (TON), a blockchain platform associated with Telegram, has seen significant growth in 2024, with a lot of activity coming from the adoption of Telegram mini-apps such as Notcoin and Hamster Kombat.

The total locked value (TVL) of various TON projects has surged by more than 2,000% since the beginning of January, jumping from $14.2 million to $307.6 million at the time of writing, according to DefiLlama.

While mini-apps on Telegram have only been around for a while, they have made a significant contribution to the mass adoption of blockchain and cryptocurrency technology, with many industry observers recognizing their huge potential in attracting the first billion crypto users.

What are Telegram Mini Apps and what is their mission?

Telegram Mini Apps (TMA) are web applications that run inside Telegram, an instant messaging app founded in 2013 by programmers Pavel Durov and his brother Nikolai Durov.

Telegram launched the Mini Apps platform in 2023 to enable developers around the world to launch new applications, according to Alena Shmalko, head of the TON Foundation ecosystem.

The platform allows developers to build web applications directly within the Telegram application using mainstream web programming languages ​​such as HTML, CSS, and Javascript. The applications are available in the Telegram App Center, which is itself a mini-app accessible through a dedicated bot on Telegram.

“This is a natural next step for them to open up the bot API [application programming interface] because developers are eager to be able to build more complex applications within the Telegram messaging app,” Shmalko said in an interview in July.

TON Foundation ecosystem lead Alena Shmalko attends the Blockchain Life Forum in April 2024. Source: LinkedIn

Shmalko said other popular messaging apps such as WeChat have similar bot platforms, but Telegram's mini-apps are seen as offering more competitive features:

"TON's Web3 engine brings a competitive advantage to the Telegram platform, opens up new monetization opportunities for creators, and gives users true ownership of their digital assets."

What drives the popularity of Telegram Mini Apps in 2024?

Shmalko said that after launching Telegram Mini Apps in 2023, Telegram allowed developers to start integrating the TON blockchain into their applications in January 2024, marking the beginning of its rapid adoption.

According to the TON Foundation’s head of ecosystem, Telegram’s 900 million audience combined with the TON blockchain’s speed, scalability, and low transaction fees have positioned TMA for rapid rise in 2024.

Coupled with new in-app payment tools like Telegram Stars, Telegram Mini Apps could “ultimately be a Trojan Horse for bringing Web2 developers to Web3,” with revenue withdrawals only possible through Toncoin.

“Given the scale of some of these applications, the TON blockchain was the obvious choice for integration. Notcoin quickly gained 40 million users, while Hamster Kombat has around 300 million players.”

Among other factors contributing to TMA’s growth, Shmalko cited the role of The Open League, the TON Foundation’s community incentive program. Launched in March 2024, The Open League is a “core component” of TON’s growth, according to CoinGecko, and aims to issue 30 million Toncoins, worth $167 million at the time of writing.

TON’s TVL Drops 60% Since July: What’s Next for Telegram Mini Apps?

After a sharp rise in the first half of 2024, the TON ecosystem is facing a significant decline in the total value locked in its projects.

According to DefiLlama, TON’s TVL peaked at $776.6 million on July 19, but subsequently fell sharply by 60% amid a general sell-off in cryptocurrency markets such as Bitcoin.

TON’s TVL drop appears to have been further affected by the detention of Telegram CEO Durov in France. Since French authorities detained Durov at Paris’ Le Bourget Airport on August 24, TON’s TVL has fallen by about 5%, while TON’s native cryptocurrency has fallen by nearly 20%.

TVL on the Open Network from 2023. Source: DefiLlama

Afterwards, the TON Foundation claimed to remain fully operational. Meanwhile, Telegram announced that the company complies with EU law, including the Digital Services Act.

Security firms such as Kaspersky reportedly claim that the Durov incident has nothing to do with Telegram's security, but some users have reported problems with Wallet on Telegram. This third-party app allows Telegram users to buy, sell and store cryptocurrencies.

However, these problems are not necessarily related to Durov's detention.

According to a statement from the Wallet News channel on Telegram, Wallet on Telegram was affected by the airdrop of Dogs, a new TON-based memecoin designed to embody the spirit and culture of the Telegram community. The channel reported that several exchanges, including Wallet on Telegram, were not running as smoothly as usual due to the launch of Dogs.

According to Shmalko, the TON ecosystem and Telegram are now "stronger than ever."