Toncoin (TON)

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Overview

Toncoin (TON) is the native asset of The Open Network, a high‑performance layer‑1 built to live inside everyday apps—most notably Telegram. The Toncoin blockchain uses dynamic sharding and a multi‑chain design to keep fees low and confirmations fast, while still supporting smart contracts, DeFi, NFTs, and gaming. In 2024–2025, Telegram deepened its integration with TON: ad‑revenue sharing for channel owners pays out in Toncoin, and the in‑app wallet brings crypto to mainstream users with a simple chat‑like experience. These milestones helped push TON into the spotlight and strengthened real utility beyond speculation. (techcrunch.com)

Stablecoins also arrived natively. Tether launched USDT and XAUT on the Toncoin blockchain, which enables dollar and gold‑backed transfers across Telegram mini‑apps, bots, and wallets. For everyday users and builders, this means peer‑to‑peer payments and on‑chain commerce can feel as simple as sending a message. (cointelegraph.com)

Early 2025 brought another step: Telegram and the TON Foundation made TON the exclusive blockchain for Telegram’s mini‑apps, while TON Connect became the standard way wallets link to apps inside Telegram. This alignment bakes the “web3 super‑app” vision directly into Telegram’s product, giving TON a distribution channel that few blockchains can match. (prnewswire.com)

History & Team

From Telegram’s prototype to a community‑run network

TON began in 2018 as the “Telegram Open Network,” created by brothers Nikolai and Pavel Durov, founders of Telegram. In 2020, after the U.S. Securities and Exchange Commission (SEC) sued over the planned “Gram” token sale, Telegram settled, returned $1.2 billion to investors, paid an $18.5 million penalty, and stepped away from the project. The open‑source community then continued the work as The Open Network (TON) and adopted Toncoin as the network’s token. (sec.gov)

A Swiss‑based foundation

Today, ecosystem coordination is supported by The Open Network Foundation, a non‑profit established in Switzerland in 2023. The Foundation’s council and contributors focus on grants, education, and partnerships, while development remains open‑source and decentralized. (foundation.ton.sc)

Technology & How It Works

Scalable multi‑chain design

The Toncoin blockchain is built as a “blockchain of blockchains.” It has:

• A Masterchain that stores global configuration and validator sets.
• Workchains that can each define their own rules.
• Shardchains that split and merge automatically as load changes, so throughput scales with demand.

This “infinite sharding” approach lets validators process transactions in parallel, keeping fees low and confirmation times short even as usage grows. Today, the Basechain is the primary workchain for everyday transactions. (docs.ton.org)

Smart contracts and developer stack

Developers write TON smart contracts in languages designed for safety and speed:

• FunC, a low‑level language tightly bound to the TON Virtual Machine (TVM).
• Tact, a higher‑level, TypeScript‑like language audited by leading security firms to speed up development. (docs.ton.org)

TON also ships native building blocks beyond contracts:

• Jettons (fungible tokens) and NFT standards that store each user’s balance or item as its own contract for parallel execution. (docs.ton.org)
• TON DNS for human‑readable .ton names that resolve to wallets, sites, or services. (docs.ton.org)
• TON Storage and TON Proxy to serve data and access services with decentralized infrastructure. (docs.ton.org)

Wallet connections inside Telegram

TON Connect is the open protocol that links wallets to TON apps. Telegram has standardized on TON Connect for all blockchain mini‑apps, making login and transaction approval consistent for users and simple for developers. (docs.ton.org)

Tokenomics & Utility

Supply, issuance, and staking

Toncoin has a targeted long‑term supply framework centered on proof‑of‑stake (PoS) security and low inflation:

• Initial supply: 5 billion TON. (docs.ton.org)
• Annual issuance: roughly 0.3%–0.6% to pay validators, varying with network conditions. (docs.ton.org)

Validators secure the network by staking TON. The effective stake to win elections typically ranges from the low‑hundreds of thousands of TON per validator, with an upper cap to keep sets balanced. Community “nominator pools” let holders stake from around 10,000 TON to share rewards without running a node. (docs.ton.org)

A notable chapter in Toncoin tokenomics was its distribution. After Telegram exited in 2020, most of the supply was placed into “PoW Giver” contracts that anyone could mine. This initial proof‑of‑work (IPoW) phase ended on June 28, 2022, and TON now operates purely on PoS with low ongoing inflation. (ton.org)

What TON is used for

• Fees and gas for transactions and smart contracts.
• Staking by validators and nominators to secure the network and earn rewards.
• Network services like TON DNS, Storage, and Proxy.
• Governance features and ecosystem programs run by community initiatives.
• Payments and payouts across Telegram mini‑apps, including ad‑revenue sharing for channels. (docs.ton.org)

Because utility is expanding, many watchers track “TON price” movements against real usage—on‑chain activity, stablecoin flows, and mini‑app adoption—rather than only macro market cycles.

Ecosystem & Use Cases

DeFi on TON

TON’s DeFi scene centers on fast swaps and low fees. STON.fi is a popular AMM DEX with native wallet integrations; lending, routing, and cross‑chain features are also emerging. Makers and traders use Jettons for tokens and TON Connect for one‑click sign‑in from Telegram. (ston.fi)

Stablecoins amplify this activity. With USDT live on TON, users can move digital dollars between Telegram contacts, DEXs, and mini‑apps without touching bridges—improving settlement and UX for commerce and games. (cointelegraph.com)

NFTs, identity, and digital goods

Getgems is the leading NFT marketplace on TON, hosting collections tied to Telegram culture—usernames, anonymous numbers, and collectible gifts—along with creator drops and brand campaigns. TON’s NFT standards support low‑fee minting and fast transfers for mobile‑first users. (getgems.us)

Gaming and mini‑apps

Telegram’s mini‑app platform has become a launchpad for on‑chain games. Viral titles such as Hamster Kombat drew hundreds of millions of players, showing how simple mechanics plus Telegram distribution can onboard new users to wallets and tokens. Notcoin’s 2024 launch on TON airdropped billions of tokens to players and kicked off a wave of “tap‑to‑earn” experiments across the ecosystem. (wired.com)

Payments and creators

Telegram opened ad revenue sharing to channel owners globally, paying 50% of ad income in Toncoin and settling on the Toncoin blockchain. Developers can monetize mini‑apps, creators can receive tips, and users can move funds or USDT with chat‑like ease. (techcrunch.com)

Advantages & Challenges

What TON does well

• Scale by design: dynamic sharding and parallel execution keep fees low even at high load. (docs.ton.org)
• Built for apps: TON DNS, Storage, and Proxy make it easier to ship consumer‑grade dApps. (docs.ton.org)
• Distribution edge: native placement inside Telegram gives TON a ready audience for DeFi, NFTs, and gaming. (prnewswire.com)
• Strong partners: USDT on TON, plus ecosystem programs and funds, accelerate adoption. (cointelegraph.com)

Open questions to watch

• Ecosystem complexity: sharding, account chains, and multi‑chain interactions can be hard for newcomers, so good tooling and education are vital. (docs.ton.org)
• Platform dependency: Telegram’s choice to make TON the exclusive chain for mini‑apps streamlines UX, but it also sparked debate in crypto circles about openness versus focus. (cointelegraph.com)

Where to Buy & Wallets

Where to buy TON

TON is listed on major global exchanges. For U.S. users, regulated platforms such as Kraken support Toncoin trading, and Robinhood lists TON in many states. Global users can access TON on leading international exchanges as well. Always check availability in your region and supported networks before depositing or withdrawing. (blog.kraken.com)

Wallet options

• Wallet in Telegram (@wallet): the native way to hold and send Toncoin and USDT directly inside Telegram. It supports self‑custody via TON Wallet (formerly TON Space). (wallet.tg)
• Tonkeeper (mobile/web/extension): a popular self‑custody wallet with staking, swaps, and app discovery. (tonkeeper.com)
• Tonhub (mobile): a simple, non‑custodial wallet focused on fast payments and staking. (apps.apple.com)
• MyTonWallet (browser/desktop/mobile): open‑source, feature‑rich wallet with Jettons, NFTs, TON DNS, and more. (mytonwallet.org)

Wallets connect to apps with TON Connect for smooth logins and transaction approvals across the Toncoin ecosystem. (docs.ton.org)

Regulatory & Compliance

Global posture and U.S. history

TON’s story includes a well‑known legal chapter: in 2020, Telegram’s original token plan was halted after an SEC action; Telegram returned funds and exited. The present‑day Toncoin blockchain is maintained by an open community, and ecosystem support comes from a Swiss non‑profit foundation established in 2023. This structure—community‑run network, Swiss foundation—shapes Toncoin regulatory status today and separates the current project from Telegram’s past sale. Local rules still apply by country and platform. (sec.gov)

Halal and Shariah considerations

Is Toncoin halal? Many scholars view general‑purpose cryptocurrencies as permissible when used as digital assets or for payments, provided they avoid riba (interest), gambling, and prohibited industries. Toncoin’s Proof‑of‑Stake security and utility roles (fees, staking for network maintenance, payments) align with that view. Some Islamic finance reviewers have published favorable assessments of crypto assets like TON under these criteria. As with all matters of faith, opinions may differ by school and by use. In practical terms, many in the community consider Toncoin halal, and you may also see it described as “TON shariah compliant” in that context. (docs.ton.org)

Future Outlook

What to expect next

• Deeper Telegram integration: With TON as the exclusive chain for mini‑apps and TON Connect the standard, expect more games, social apps, and commerce tools to go on‑chain inside Telegram. This is likely to increase real usage and could influence the “TON price” narrative over time. (prnewswire.com)
• Stablecoin‑powered payments: Native USDT and XAUT open a path for remittances, tipping, and cross‑border commerce in chat. As mini‑apps mature, stablecoin rails may become the default for many flows. (cointelegraph.com)
• Expanding DeFi and NFTs: DEXs, lending, and NFT marketplaces should continue to innovate around low‑fee, mobile‑first experiences that match Telegram’s audience. (ston.fi)
• Builder momentum: Languages like Tact and standards like Jettons/NFTs lower the barrier to shipping apps; ecosystem funds and partnerships are investing to draw more teams into Toncoin DeFi, NFTs, and gaming. (docs.ton.org)

Summary

Toncoin blends scale, speed, and usability with a rare distribution edge: it lives where people already spend time—inside Telegram. The Toncoin blockchain’s dynamic sharding, low fees, and rich developer stack support a growing universe of DeFi, NFTs, and games. With USDT on‑chain, ad revenues paid in TON, and mini‑apps standardizing on TON Connect, the network is moving from promise to everyday utility. For learners tracking the space, keep an eye on ecosystem usage, mini‑app adoption, and stablecoin flows; together, these fundamentals increasingly drive the story around the TON token and its role in the wider crypto economy. (docs.ton.org)