- The Open Network Foundation to distribute 30 million TON tokens, valued at $115 million, for community engagement.
- Funds will support various initiatives, including token mining, airdrops, developer ecosystems, and liquidity pools.
- Telegram’s ad platform on TON blockchain rewards channel owners, enhancing user and developer involvement.
The Open Network Foundation, a key player behind the blockchain that supports Telegram’s innovative advertising platform, has unveiled a substantial rewards program. This initiative will see the allocation of 30 million Toncoin (TON) tokens, collectively worth around $115 million, dedicated to fostering community participation and development within the ecosystem.
Enhancing Community Engagement
The strategic distribution of rewards is set to commence on April 1, with the funds earmarked for a variety of purposes. These include $38 million dedicated to stimulating token mining and user engagement, $22 million allocated for airdrops to enhance community growth, $15 million aimed at bolstering The League developer ecosystem, and $40 million intended to reinforce liquidity pools. This multifaceted approach is designed to streamline the journey from casual Telegram user to active blockchain participant.
The initiative follows a successful pilot season where 650,000 TON, equivalent to $2.6 million, were distributed through liquidity pool boosts. Additionally, projects victorious in The League Pilot, concluding on March 31, will receive a share of 550,000 TON, totaling $2.2 million. Jack Booth, the Marketing Director at TON Foundation, remarked on the community’s enthusiastic response to the pilot season, signaling a positive trajectory for future engagement.
Leveraging Telegram’s Platform
In March 2024, Telegram’s advertising platform, powered by the TON blockchain, was officially launched. This system enables channel owners on Telegram to monetize their content through ad sales, receiving rewards in TON tokens. This move not only opens up new revenue streams for content creators but also integrates them more deeply into the TON ecosystem.
Despite Telegram’s initial foray into developing the TON token being halted by regulatory challenges in 2020, the project has since gained momentum. Telegram itself, boasting over 900 million users worldwide, is on the brink of profitability and exploring an initial public offering. This growth, coupled with TON’s 75% appreciation in the past year, underscores the burgeoning potential of the TON blockchain and its integral role in Telegram’s expanding digital ecosystem.
