TON introduces gasless fees with new smart wallet

The TON Core team has launched its W5 smart wallet standard in collaboration with Tonkeeper, promising to deliver gasless transactions on The Open Network (TON) blockchain.

The upgrade to the layer-1 blockchain’s pre-existing wallet smart contract will allow users to use Tether ( USDT ) for gas fees for USDT transfers and Notcoin for gas fees when transferring Notcoin (NOT).

According to a press release shared with Cointelegraph, the W5 smart wallet is live in Tonkeeper and will soon roll out to TON Space and MyTonWallet.

Related: TON Network TVL surpasses $760M — Is this bullish for TON price?

Wallet implications

The W5 smart wallet was originally developed by Tonkeeper and approved by the TON Core team to introduce improved transaction management on the TON blockchain.

Adding the gasless features for USDT and Notcoin payments aims to remove the need for users to hold Toncoin to facilitate payments and reduce barriers newcomers face.

The smart wallet will allow users to execute up to 255 transactions simultaneously, aiming to create a smoother and more efficient user experience.

Related: TON’s Teleport BTC bridge will be ‘highly resistant’ to private key compromises

TON becomes the 10th-largest blockchain in TVL

Despite its relatively new entry into the decentralized application (DApp) space, TON surpassed Optimism to become the 10th-largest blockchain in total value locked (TVL).

Surpassing $760 million in TVL, The Open Network Foundation partnered with 1inch and Sign on July 10 to launch the Web3 startup accelerator Triangle.

The partnership aims to focus on developing play-to-earn (P2E) mini-games, following in the footsteps of the successful Telegram-based game Notcoin.

Related: Pixelverse to put Pudgy Penguin character on Telegram mini game

TON Foundation push for security

On July 18, the TON Foundation introduced a Bitcoin ( BTC ) bridge to solidify the platform’s vision of being a “blockchain of blockchains.”

TON Foundation’s marketing director, Jack Booth, explained that the organization’s new BTC bridge would allow users to transfer their BTC to TON .

Booth discussed the new bridge’s security measures, emphasizing that the BTC bridge would be “highly resistant” to private key compromises.

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