TON Users Donate $1B to Advance Ecosystem, Foundation Says

2 years ago

Jamie Crawley is simply a CoinDesk quality newsman based successful London.

The TON Foundation, steward of the cryptocurrency task abandoned by messaging app supplier Telegram. said it has raised implicit $1 cardinal successful donations from users to beforehand its ecosystem.

Donations were made successful toncoin, the autochthonal currency of the ecosystem, implicit the people of 10 days starting April 7, according to an announcement Wednesday shared with CoinDesk.

A full of 527 cardinal TON person been donated, worthy conscionable implicit $1 cardinal astatine the clip of writing.

The funds came via 176 abstracted donations, with astir coming from ample holders. Among them, 18 donations were of implicit 10 cardinal TON and 37 were of implicit 4 million, a TON Foundation spokesperson told CoinDesk.

The Foundation has been attempting to summation the allure of the TON ecosystem to imaginable Web 3 builders and developers.

There is nary program to connection a nonstop inducement for donors, who person been motivated alternatively by a tendency to payment the TON ecosystem, the spokesperson said. "We deliberation donors recognize that TON's occurrence is helped by having a well-capitalized Foundation to enactment the ecosystem."

The TON Foundation was formed by members of the blockchain's assemblage who wished to support the task live aft Telegram unopen it down successful August 2020 pursuing a pursuing a suit from the U.S. Securities and Exchange Commission (SEC).

TON's reincarnation has besides recently received $250 cardinal successful investment for its archetypal ecosystem fund, with the task arms of Huobi and Kucoin among the backers.

While toncoin is autarkic from Telegram, determination are plans for it to beryllium integrated afloat into the messaging service, which would marque it disposable to the app's 500 cardinal monthly users.

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Jamie Crawley is simply a CoinDesk quality newsman based successful London.

Jamie Crawley is simply a CoinDesk quality newsman based successful London.


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