Users and developers are in for a windfall as the Open Network Foundation announces a 30 million TON incentive program, adding up to a staggering $115 million at the time of the announcement.
The TON blockchain, powering Telegram’s innovative advertising platform, will distribute these rewards across various avenues. The breakdown includes;
- $38 million designated for token mining and user incentives,
- $22 million for airdrops,
- $15 million to nurture The League developer ecosystem, and
- $40 million for liquidity pool boosts.
Commencing from April 1, the TON Foundation will embark on monthly seasons, distributing the allocated Toncoin to participants. These efforts aim to elucidate the seamless pathway from a typical Telegram user to an esteemed on-chain CHAD.
In an initial pilot season, the foundation disbursed 650,000 TON to users through Liquidity Pool boosts, with an additional 550,000 TON slated for projects emerging victorious in The League Pilot on March 31. This initiative showcases the community’s enthusiasm for engagement, as noted by Jack Booth, director of marketing at TON Foundation.
The advent of the Telegram Ad Platform on the TON blockchain in March 2024 marks a significant milestone. Channel owners worldwide now have the opportunity to monetize their channels, with the platform facilitating advertising sales and revenue-sharing exclusively in TON.
While originally conceived by Telegram, the TON token witnessed a shift in trajectory due to legal entanglements with the United States Securities and Exchange Commission (SEC), prompting the messaging giant to halt development efforts in May 2020. Despite this setback, Telegram boasts a user base exceeding 900 million globally, solidifying its position as the world’s fourth-largest messaging app.
Recent statements from Telegram co-founder Pavel Durov hint at the company’s financial prospects, with talks of profitability and contemplation of an initial public offering (IPO). Durov even considers taking cues from Reddit by offering priority access to the IPO subscription for “loyal” users.
In the past year, TON has witnessed a remarkable 75% surge, currently trading at $4.12, indicative of growing investor confidence in the project’s potential. As the ecosystem continues to evolve, the allure of TON incentives promises to drive participation and innovation across the TON blockchain landscape.