{"id":"toncoin","version":1,"language":"en","title":"TONCOIN","hidden":false,"content":"**TONCOIN** (formerly known as Gram) is [The Open Network's](https://iq.wiki/wiki/the-open-network-toncoin) (TON) native [cryptocurrency](https://iq.wiki/wiki/cryptocurrency). It is used for securing the [blockchain](https://iq.wiki/wiki/blockchain) through [staking](https://iq.wiki/wiki/staking), deciding how the network develops, gas payments (i.e., [smart-contract](https://iq.wiki/wiki/smart-contract) message processing fees), and settling payments on [TON](https://iq.wiki/wiki/the-open-network-toncoin). [\\[1\\]](#cite-id-zahno0w012e)[\\[2\\]](#cite-id-2yk3pysu675)[\\[3\\]](#cite-id-8gzdrv0ip3f)  \n$$widget0 [YOUTUBE@VID](1aNOMWdUJIk)$$  \n  \n# History of Toncoin  \n  \nToncoin was formerly known as **Gram** which was the native [cryptocurrency ](https://iq.wiki/wiki/cryptocurrency)Telegram planned to launch to establish a platform for [decentralized applications](https://iq.wiki/wiki/decentralized-application) (dApps). It was conceived by the Telegram co-founders — [Pavel Durov](https://iq.wiki/wiki/pavel-durov) and his brother [Nikolai Durov](https://iq.wiki/wiki/nikolai-durov) in 2018.  \n  \nGrams were initially distributed through private sales, and the project broke the record for the second-biggest token sale in history. In April 2018, Gram raised $1.7 billion. Later, the team sold tokens worth billions of dollars to businesses worldwide[\\[5\\]](#cite-id-6dujo0jfcdr). However, cybercriminals began exploiting Gram due to its popularity, creating ICO scams on Twitter[\\[6\\]](#cite-id-oal3tmatr8e). This made Pavel Durov post multiple warnings[\\[12\\]](#cite-id-g4rypdxykzd) on Twitter to protect the public. [\\[10\\]](#cite-id-7e02atlh6nj)[\\[11\\]](#cite-id-c6o03q0ssuf)  \n  \nGram made an initial attempt to conduct public sales within the U.S. and therefore had to comply with SEC (Securities and Exchange Commission) regulations. The initial purchase agreement aimed to provide tokens to investors upon TON's launch in an effort to avoid the classification of Gram tokens as securities by the SEC. However, the SEC considered the initial investors as underwriters, and the offering of Gram tokens by Telegram was deemed an unregistered distribution of securities. [\\[8\\]](#cite-id-bczxwx9wb8p)[\\[10\\]](#cite-id-7e02atlh6nj)  \n  \nWhile Telegram fought the SEC, it ultimately lost in court. In May 2020, founder [Pavel Durov](https://iq.wiki/wiki/pavel-durov) ended Telegram’s participation in the blockchain’s development and started issuing refunds to the initial investors.[\\[7\\]](#cite-id-fy2k3i4g2tp)[\\[10\\]](#cite-id-7e02atlh6nj)  \n  \nSince TON was developed as an open-source software project and its code was publicly available on GitHub,  other projects started to develop the technology. The Telegram native [crypto](https://iq.wiki/wiki/cryptocurrency) - **Gram** was then rebranded into **TON coin** (The Open Network) after the abandoned project was taken over by the TON Foundation in 2020 and it is unrelated to Telegram. [\\[9\\]](#cite-id-13abg1eb36to)[\\[11\\]](#cite-id-c6o03q0ssuf)  \n  \n# Tokenomics  \n  \nThe total supply of TON coins is limited to 5 Gigatons (i.e., 5 billion TON coins). This supply is to increase gradually as rewards to validators for mining new masterchain and shardchain blocks accumulate. The expected inflation rate of 2% per year, will double the total supply of TON coins (to 10 Gigatons) in 35 years. This inflation represents a payment made by all members of the community to the validators for keeping the system up and running. [\\[4\\]](#cite-id-feyee6zesh9)[\\[2\\]](#cite-id-2yk3pysu675)  \n  \n# Utility  \n  \nThe TON coin can be used to build [decentralized applications](https://iq.wiki/wiki/decentralized-application) (dApps), it can be used as a processing fee for [smart contracts](https://iq.wiki/wiki/smart-contract) transactions, cross-chain transaction fees, lending capital to validators to earn interest, and payment for blockchain-based domain names (DNS). It can also act as validators’ stakes required to maintain the [blockchain](https://iq.wiki/wiki/blockchain), and payments services provided by apps built on the platform, and it is integral to TON's on-chain governance program. [\\[1\\]](#cite-id-zahno0w012e)[\\[3\\]](#cite-id-8gzdrv0ip3f)","summary":"TONCOIN is The Open Network's (TON) native cryptocurrency, used for transaction fees, staking, gas payments, settling payments, and on-chain governance.","categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"promoted":0,"tags":[{"id":"Protocols"}],"metadata":[{"id":"references","value":"[{\"id\":\"zahno0w012e\",\"url\":\"https://ton.org/\",\"description\":\"ton website\",\"timestamp\":1683645402345},{\"id\":\"2yk3pysu675\",\"url\":\"https://www.coingecko.com/en/coins/toncoin\",\"description\":\"coingecko\",\"timestamp\":1683645940337},{\"id\":\"8gzdrv0ip3f\",\"url\":\"https://coinmarketcap.com/currencies/toncoin/\",\"description\":\"cmc\",\"timestamp\":1683645952826},{\"id\":\"feyee6zesh9\",\"url\":\"https://ton.org/whitepaper.pdf\",\"description\":\"whitepaper\",\"timestamp\":1683646580904},{\"id\":\"6dujo0jfcdr\",\"url\":\"https://www.theverge.com/2018/4/1/17186004/telegram-presale-open-network-app-ico-cryptocurrency-ton\",\"description\":\"theverge - 1.7$ billion raise\",\"timestamp\":1684147209069},{\"id\":\"oal3tmatr8e\",\"url\":\"https://www.financemagnates.com/cryptocurrency/news/breaking-telegram-ceo-officially-confirms-gramtoken-io-ico-fake/\",\"description\":\"financemagnates- twitter scams\",\"timestamp\":1684147415510},{\"id\":\"fy2k3i4g2tp\",\"url\":\"https://telegra.ph/What-Was-TON-And-Why-It-Is-Over-05-12\",\"description\":\"telegraph - pavel's explanation\",\"timestamp\":1684147813557},{\"id\":\"bczxwx9wb8p\",\"url\":\"https://www.gtlaw.com/en/insights/2020/4/sec-v-telegram--a-groundbreaking-decision-in-cryptocurrency-enforcement\",\"description\":\"sec vs telegram\",\"timestamp\":1684147885394},{\"id\":\"13abg1eb36to\",\"url\":\"https://coinkickoff.com/toncoin-ton/\",\"description\":\"gram rebrand to toncoin\",\"timestamp\":1684148201867},{\"id\":\"7e02atlh6nj\",\"url\":\"https://learn.bybit.com/blockchain/what-is-toncoin-ton/\",\"description\":\"bybit - toncoin history\",\"timestamp\":1684148240460},{\"id\":\"c6o03q0ssuf\",\"url\":\"https://coinloan.io/blog/guide-to-ton-blockchain-and-toncoin/\",\"description\":\"coinloan - toncoin history\",\"timestamp\":1684148518642},{\"id\":\"g4rypdxykzd\",\"url\":\"https://twitter.com/durov/status/955089117947326464\",\"description\":\"durov warnings on twitter\",\"timestamp\":1684148569989}]"},{"id":"website","value":"https://ton.org/"},{"id":"twitter_profile","value":"https://twitter.com/ton_blockchain"},{"id":"reddit_profile","value":"https://www.reddit.com/r/TONcoin/"},{"id":"telegram_profile","value":"https://t.me/tonblockchain"},{"id":"github_profile","value":"https://github.com/ton-blockchain"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/toncoin/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/toncoin"},{"id":"previous_cid","value":"QmS6QBRbr8TkXUGquDWYYvb5QLhGVP84weGff4ryy4nCJQ"}],"user":{"id":"0x6753061a4cffbc0A617e57E956A298D88702a94B"},"author":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb","profile":{"username":"zainab","avatar":"QmZzhTxNPnCKWpsPJtS1YeZUiZ5vFSNHCeStpigLs2pRNt"}},"media":[{"name":"1aNOMWdUJIk","id":"https://www.youtube.com/watch?v=1aNOMWdUJIk","size":"0","type":null,"source":"YOUTUBE"}],"views":105,"events":[],"ipfs":"QmS6QBRbr8TkXUGquDWYYvb5QLhGVP84weGff4ryy4nCJQ","transactionHash":"0x1844fd846800c796c378213e77e6c2c64005ee692750d7ae0bee73c04c5d2391","created":"2023-05-09T16:25:08.897Z","updated":"2023-05-15T11:06:03.793Z","images":[{"id":"QmTMUyBin3Nwfv3Y81bCgMko52QDNNJ3jkwPgH9Jej3GC1","type":"image/jpeg, image/png"}],"linkedWikis":{"founders":["pavel-durov","nikolai-durov"],"blockchains":["the-open-network-toncoin"]}}