The Open Network Foundation is allocating 30 million Toncoin (TON) tokens, valued at $115 million, for community rewards on the TON blockchain, supporting Telegram’s new advertising platform.Â
This move, announced on March 20, includes $38 million for token mining and user rewards, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool boosts.
Starting April 1, the foundation will distribute 30 million Toncoin over one-month seasons, aiming to engage users and boost participation in the ecosystem. In a pilot season, 650,000 TON worth $2.6 million was distributed, with 550,000 TON ($2.2 million) slated for winners of The League Pilot on March 31.
Jack Booth, TON Foundation’s marketing director, noted the community’s readiness for engaging activities. The Telegram Ad Platform, live since March 2024 on the TON blockchain, enables global channel owners to earn revenue through advertising sales, fostering a mutually beneficial ecosystem.
While initially developed by Telegram, TON faced legal challenges in 2020, leading to its adoption by the Open Network Foundation. Telegram’s recent milestones include nearing profitability and considering an IPO, echoing strategies seen in platforms like Reddit to prioritize loyal users.
The Open Network Foundation’s allocation of 30 million Toncoin tokens for community rewards reflects a strategic move to incentivize engagement and growth on the TON blockchain, benefiting both users and the ecosystem.
Also Read: Toncoin Price Jumps 31% to 2-Year High Ahead of Telegram IPO
