TON Foundation: The TON-based economy begins to take root in Telegram

ChainCatcher news, according to CoinDesk, TON Foundation's investment director Justin Hyun stated that the economy based on Toncoin (TON) is beginning to take root in the messaging app Telegram, which explains the recent strong performance of the token in the broader cryptocurrency market. Data shows that TON has risen 15% this month, reaching an all-time high of over $7, while Bitcoin has dropped 11%.

In an email interview, Hyun said: "Telegram has launched an advertising platform that only accepts Toncoin instead of fiat currency, following the principles of Web3, and pays 50% of the revenue they earn from ads to Telegram channel owners. This move means that channel owners can distribute Toncoin as giveaways to their audiences, further increasing the visibility of the TON ecosystem and gradually allocating the token supply to the best and brightest creators on Telegram over time."

Hyun added that the Open League program announced on April 1 is bringing a large number of users onto the chain. The program is a reward strategy designed to encourage users to participate in the development of the ecosystem. Under this program, the TON Foundation will distribute 30 million TON to community members through tasks, airdrops, and liquidity pools on TON decentralized exchanges.