Tradoor raised $3.2 million for the development of “the fastest DEX on TON”

The decentralized exchange Tradoor on the blockchain The Open Network (TON) has raised $3.2 million in funding, according to a press release.

The investment round was led by TON Ventures and Kenetic Capital with participation from Sigil Fund, Protagonist, VentureSouq, T Fund, TONX, Re7 Capital, and BitsLab.

The attracted funds will be directed towards implementing the project roadmap for the development of the “fastest DEX” with support for high-frequency trading on TON, as well as conducting the Turbo Rewards campaign based on the trade-to-earn model.

After launching in the third quarter of 2024, Tradoor attracted 360,000 users, and the total trading volume exceeded $400 million. The peak daily volume reached $49 million, which, according to DEX representatives, is a record figure on TON. Additionally, the project team won the Open League 6 competition and the TON Code Summer Asia hackathon.

Tradoor offers users two technological solutions:

• Turbo Mode — provides a throughput of up to 10,000 TPS with a confirmation time of 50 milliseconds;
• Turbo Accounts — allows for one-click trading and deposits from other blockchains, including Ethereum, BNB Chain, and Solana.

According to the lead developer of the Balala Khan project, Tradoor is an analog of Hyperliquid in Telegram.

“Thanks to Turbo Mode, users make transactions 600 times faster than before — fully on-chain on TON and with minimal network fees,” he comments.

Tradoor has also added support for the tokenized version of Bitcoin on TON - tgBTC. According to the developers, it provides liquidity providers with double-digit returns on USDT, TON, and tgUSD.

In the future, the project team plans to launch:

• text-to-trade ― a token exchange function using AI to execute trades through text commands;
• copy trading system.

“The integration of Tradoor into Telegram provides trading at the level of centralized exchanges to hundreds of millions of users. We believe that Tradoor has unique opportunities to implement high-frequency trading in the rapidly growing TON ecosystem,” said co-founder of Kenetic Capital, Jehan Chu.

Recall that in early May, Ethena Labs and the TON Foundation announced their intentions to integrate the stablecoins USDe and sUSDe into the Telegram ecosystem.