Ton blockchain launched a $115M community incentive program
The Open Network Foundation, which is developing the so-called Ton Blockchain that powers Telegram's new advertising platform, will allocate 30 million Toncoin (TON) tokens worth $115 million at the time of publication as a reward to the community.
According to the March 20 announcement, the incentives will be divided into four areas: $38 million for token mining and user incentives, $22 million for airdrops, $15 million for the league's developer ecosystem, and $40 million for liquidity pool increases. “In 1-month periods starting April 1st, the Ton Foundation will distribute 30 million Toncoins, which is roughly equivalent to $115 million,” the foundation wrote. Telegram user on chain Chad.”
During the first pilot period, the Ton Foundation distributed 650,000 tons ($2.6 million) to beneficiaries through Liquid Pool Enhancement, and 550,000 tons ($2.2 million) will be distributed among the projects that won the League Pilot by March 31. “The Open League has a trial period that shows our community is ready to have fun,” commented Jack Booth, director of marketing at the Ton Foundation.
Telegram's advertising platform, built on the TON blockchain, officially went live in March 2024. The platform allows Telegram channel owners around the world to earn financial rewards, selling only ads and sharing revenue in tons with channel owners.
The token was originally developed by Telegram, but the messaging application abandoned development efforts in May 2020 amid a legal battle with the United States Securities and Exchange Commission. Telegram currently has over 900 million users worldwide and is the fourth largest messaging app in the world. App.
On March 11, Telegram founder Pavel Durov stated that the company is close to profitability and is considering an initial public offering (IPO). Durov is considering Reddit's leader, prioritizing “loyal” users, for the company's IPO subscription. Last year, the ton gained about 75% and is currently trading at $4.12.
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