The TON Core team unveils the W5 smart wallet for transactions using USDT and Notcoin on the TON blockchain
The TON Core team recently launched the smart wallet W5 in collaboration with Tonkeeper, aiming to provide feeless transactions on The Open Network blockchain.
This update to the existing smart wallet contract on the layer 1 blockchain will enable the use of Tether’s USDT for gas fees for USDT transfers and NOT for gas fees when transferring Notcoin.
Fine Wallet Features
The W5 smart wallet, originally developed by Tonkeeper and approved by the TON Core team, aims to enhance transaction management on the TON blockchain. By adding feeless features for USDT and Notcoin payments, the wallet seeks to eliminate the need for users to hold Toncoin to facilitate payments, thereby reducing barriers for newcomers.
The smart wallet will allow users to execute up to 255 transactions simultaneously, which should create a smoother and more efficient user experience. The W5 wallet is already available on Tonkeeper and will soon be deployed on TON Space and MyTonWallet.
Implications for the TON blockchain
Despite its relatively recent entry into the decentralized applications space, TON has surpassed Optimism to become the 10th largest blockchain in terms of total value locked (TVL).
Surpassing 760 million dollars in TVL, The Open Network Foundation partnered with 1inch and Sign on July 10 to launch the web3 startup accelerator, Triangle. This partnership focuses on the development of play-to-earn mini-games, following in the footsteps of the successful Telegram-based game, Notcoin.
