Grindery, supported by Binance Labs, has introduced a seamless payment solution tailored for the vast user base of Telegram, totalling 800 million individuals.
The primary objective of Grindery is to streamline digital asset transactions within the Telegram ecosystem.
By harnessing the power of account abstraction and orchestrating substantial liquidity for TON-based tokens and decentralized applications (dApps) on Telegram, Grindery’s innovative wallet solution facilitates rapid cryptocurrency transfers directly within the messaging platform.
Account abstraction technology represents a significant advancement in cryptocurrency. It enables users to securely store assets within blockchain smart contracts rather than traditional Externally Owned Accounts (EOA).
This transition not only enhances security measures but also unlocks a plethora of programmable functionalities for on-chain participants.
Grindery has garnered significant interest, with over 700,000 registrations during its beta phase launch in September of the previous year.
In anticipation of an official listing, the platform boasts a user base of more than 500,000 holders of its G1 tokens.
One of Grindery’s key initiatives involves simplifying cryptocurrency transactions for Telegram’s extensive user base by replacing complex alphanumeric blockchain addresses with easily readable names.
This strategic move is expected to instill confidence among users while improving the usability of tokens available on Telegram.
Grindery aims to extend its reach beyond Telegram by integrating with various EVM-compatible blockchains such as Ethereum, Binance Smart Chain and Polygon.
The platform’s smart wallet solution has already gained traction as one of the most widely deployed account abstraction contracts across multiple decentralized networks, as evidenced by data from Dune Analytics.
Grindery is bridging the existing EVM ecosystem with Telegram and offering a native web3 experience to billions of users.
In addition to catering to Telegram’s vast user base, Grindery is targeting mainstream merchants and e-commerce platforms, offering one-click payment solutions designed to streamline the onboarding process for web3 marketplaces.
