Interview with Alena Shmalko: Insights on TON and the Future of Blockchain

We’ve launched a new series on our YouTube channel called "Half a Day with a Guest." For the first episode, we chose Alena Shmalko – Ecosystem Lead at TON Foundation and an expert in TMA, DeFi, grants, and user acquisition through Telegram.

We headed to Tbilisi to spend the day with Alena, soak in the event's vibe, and get exclusive insights directly from the source. This interview contains numbers, facts, and behind-the-scenes stories about TON Foundation and TMA.

Watch the video version on our YouTube channel.
 

Disclaimer: The podcast was recorded on November 23, 2024, so some information may no longer be current.

— Hi, Alena! We’re here in sunny Tbilisi. Can you tell us more about this event and its purpose?
— Welcome to the TON bootcamp, held as part of a larger hackathon. The goal is to attract developer teams building products on our blockchain. We’re focusing on TMA and verticals like DeFi, gaming, SocialFi, utilities, and mini-apps on TON.

— What’s the main objective of the bootcamp?
— We’re aiming to strengthen the ecosystem and show developers how we can support them in creating successful products. This includes a global series of bootcamps across 15 cities, featuring workshops, expert talks, project demos, and networking opportunities.

— Why do people participate in the hackathon?
— During the bootcamp, teams present prototypes of their applications. We allocate about $5,000 for this stage. Once the prototype is ready, each team has up to five minutes to pitch it. The best projects win additional prizes.

— Do teams need to be pre-formed, or can participants team up on-site?
— Both options work! Some teams come prepared to get feedback, but individual developers often join for networking and experience. Many teams actually form during the bootcamps.

— So, can any developer come here and create their product?
— Exactly. We aim to provide a space where that’s possible.

— Will you be a speaker too? 

— Yes, I’ll speak about our ecosystem: what we offer developers, how we support them, what pitfalls to avoid, and sharing best practices.

— What does the hackathon offer developers?
— First and foremost, it’s hands-on experience in product creation. We guide participants through all stages: planning, development, community building, and ongoing support. It’s also a great networking opportunity. We understand how challenging it can be to build an audience, so we’ve created a space where founders can meet their first users and get valuable feedback.

— Can you explain the differences between TON Foundation, TON Society, and other TON organizations?
— Sure, it’s pretty straightforward:

• TON Foundation is a nonprofit organization supporting teams and users in the ecosystem. It runs grant programs and funding projects.
• TON Society is another nonprofit focused on events like hackathons, meetups, and other activities to help early-stage developers.
• TON Ventures is an independent venture firm investing in projects based on TON.
• TON Accelerator focuses on educational programs aimed at developer growth.

Source: https://blog.ton.org/building-a-web3-ecosystem-in-telegram-with-toncoin 

— Can small teams compete with larger projects at events like this?

— We faced this issue a few seasons ago when big DeFi protocols won substantial prizes. Over $500,000 in rewards went to these teams. After that, we decided to shift focus to supporting emerging projects. Now, our prize pools are more geared toward benefiting users than just rewarding teams.

— How do you evaluate projects?

— It’s not just about the number of users; user quality matters more to us. Our key metric is the Normie Score – an activity rating based on wallet interactions. It evaluates how users engage with the app, their activity in DeFi, and whether they hold NFTs or other assets. We’re looking for projects that drive meaningful engagement with the ecosystem, not just ones that complete daily tasks for rewards.

— Can a project outside the Open League still get marketing support?
— Yes, as long as the product runs on TON and is operational. Teams can apply through a special form. We can feature the project in our digest, host an AMA session, or retweet their updates.

— What inspires you in your work? Why did you choose TON?
— I’m inspired by seeing results and knowing I can influence them. When I attended Devconnect in Istanbul, I had the chance to meet many founders, builders, and representatives from major projects. That experience reinforced my commitment to building my career around TON.

— Can you explain in simple terms how TON, Tokens, and Stars are connected?
— Of course! Let me break it down:

• TON and tokens are tied to the blockchain. TON is the native token of the network, similar to Ethereum or Solana, and is used to reward validators. Tokens on the TON network follow a standard, much like ERC-20 on Ethereum.
• Stars are Telegram's in-app currency and aren’t connected to the blockchain. They were introduced to comply with Apple’s policy requiring payments through their platform. Stars are used to purchase goods and services within Telegram.

— I’m curious to know more about your team’s approach.
— We have a slogan that I love: “Putting crypto in every pocket.” Our goal is to make cryptocurrency accessible to everyone by lowering barriers to entry and integrating it into everyday tools like messengers.

— What are your current efforts focused on?
— The main mission of the TON Foundation is to build a thriving ecosystem where anyone can launch their product and get the support they need to grow, whether it’s through grants or marketing assistance.

— Let’s talk about rumors surrounding TON. What can you say about Pavel Durov’s arrest?
— That came as a complete surprise. Naturally, it caused a stir and raised questions. But it’s important to remember that we’re building a decentralized blockchain designed to withstand such crises. Pavel’s influence on TON and Telegram isn’t as extensive as people think, and certainly not enough to jeopardize the ecosystem. We’ve learned valuable lessons from this situation.

— Is it true that TON paid $50 million to the Hamster Kombat team to launch their app on TON?
— I really hope not. Honestly, I have no idea. :)

— Is it true that major U.S. investors avoid TON because of its ties to Russia?
— No, that’s not the case. For example, Pantera has already invested in TON. Some investors might have reservations, but I don’t think it’s specifically tied to Russia.

— Did TON pay for a spot listing on Binance?
— I don’t know the exact details. However, there was a Launchpool, which can essentially be considered a form of payment.

— What is a Launchpool?
— A Launchpool is a mechanism where users provide liquidity and earn tokens, like TON, as rewards. On Binance, the deposit slots for TON filled up quickly, showing high interest.

— What’s next for T2E apps?

— TON is currently recognized as an ecosystem for T2E apps, which is understandable. T2E mechanics have attracted a large audience. We’re seeing significant growth in newcomers, and our focus now is on educating and integrating them into the ecosystem.

— How do you see the future of the industry? Has it peaked?

— I believe T2E apps will evolve into onboarding tools for more complex products. For instance, the Blum project is building a hybrid exchange but started with a T2E app to attract users. While the conversion rate wasn’t perfect, it helped them establish a user base. We’re already seeing successful cases like this being applied to DeFi products. T2E apps are an additional, but not the only, tool for growth.

— Any projects that stood out to you?
— I really like Cat TON, the finalists of the summer hackathon, and App TON Finance, which is working on an Ethena-like product with gamification elements. Both look very promising.

— Are you focusing more on DeFi products now?
— Yes, that’s one of our key directions. We’re committed to expanding DeFi in the TON ecosystem.

— What challenges are you facing right now?
— The main issue is low liquidity, but it’s gradually improving. Over the past year, we’ve increased our Total Value Locked by 3000%. While there are barriers, we’re actively working to overcome them.

— How many Web3 developers are there, and how are they distributed across blockchains?
— There are about 20,000 active developers in Web3 globally, roughly the number working at a single company like Google. In TON, our community includes 17,000 members in developer chats, but the number of genuinely active Web3 developers is much smaller. Ethereum and Solana are ahead of us, so we’re heavily investing in hackathons and events.

— Which regions are key for TON?
— Historically, TON started in the CIS region, which remains our largest market. However, we’re now focusing on Asia, and Europe, especially Berlin is also a priority. For TMA users, leading regions include Nigeria, India, and Bangladesh, while in Europe, we see strong engagement from Germany, Poland, and France. We also have a notable audience in the U.S.

— Lastly, what lousy advice would you give to builders? What should they absolutely avoid?
— For example, applying with a Solana wallet. :) Seriously though, a red flag for me is when teams focus solely on grants. Start with defining the value you bring to the ecosystem, who your users are, and what exactly you’re building. Position yourself correctly. We’re doing everything possible to provide builders with resources and foster a thriving ecosystem, but we also face our own challenges.

— Thank you so much for joining us, Alena!

— Thank you for having me! :)

Conclusion

In conclusion, it’s clear that TON is opening up unique opportunities for developing its ecosystem bringing together technology, ideas, and people. Events like this bootcamp only strengthen the belief that TON is not just aiming to build a blockchain but to create the best community for developers and users.

It was especially valuable to witness this process firsthand and have a conversation with one of the team's brightest and most inspiring members, whose vision and energy set the direction for the entire project.

Alena Shmalko is shaping the future of TON and helping developers unlock their full potential. Leaders like her are the ones pushing the industry forward.

You can find more interviews on our YouTube channel. We also post all announcements on our Telegram channel.