The TON blockchain was created by Telegram but has since become open source.
The Open Network Foundation, which develops the namesake blockchain that powers Telegram’s new advertising platform, will allocate 30 million Toncoin tokens, worth $115 million at the time of publication, for community rewards., the incentives will be allocated to four areas: $38 million for token mining and user incentives, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool boosts.
During an initial pilot season, the TON Foundation distributed 650,000 TON to users via Liquidity Pool boosts and will share 550,000 TON between the projects that win The League Pilot on March 31. “The Open League’s pilot season has shown our community is ready to have some fun," commented Jack Booth, Director of Marketing at TON Foundation.in March 2024.
The token was initially developed by Telegram, but a subsequent legal battle with the United States Securities and Exchange Commission saw the messaging application abandon its development efforts in Currently, Telegram has over 900 million users globally and is the world's fourth largest messaging app.and is considering an initial public offering. Durov is also considering the lead of Reddit by offering"loyal" users priority access to the firm’s IPO subscription. In the past year, TON has gained close to 75% and is currently trading at $4.12.
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