TON Believers Fund has stopped accepting new deposits, locking in over 1.3 billion TON

ChainCatcher message, as of October 23, the TON Believers Fund has stopped accepting new deposits, locking in over 1.317 billion TON (approximately 2.9 billion USD), accounting for about a quarter of the total supply. The TON Believers Fund allows any TON holder to lock their tokens for 5 years: a 2-year lock-up period and a 3-year vesting period.

Through the TON Believers Fund, users can make deposits or donations. The deposit acceptance deadline is October 23, 2023. After this date, these tokens will be locked in a smart contract for 2 years. Then, starting from October 12, 2025, these tokens and a portion of the rewards will begin to be distributed to all depositors, and this phase will last for another 3 years. All donations will be used as rewards for depositors.