$TON Toncoin: The future of currency
Toncoin is TON's native cryptocurrency. It is used for network operations, transactions, games or collectibles built on TON.
The history of Toncoin
November 2019
The Telegram Open Network (TON) testnet2 is launched, with 5 billion coins minted. A small fraction, equivalent to 1.45% of the supply, is allocated to developers and testers.
May 2020
After the SEC prohibited Telegram from issuing Grams to investors, Telegram ceased its work on the TON Ecosystem. testnet2 tokens are placed into 20 Proof-of-Work Giver smart contracts.
May 2021
Testnet2 was promoted to mainnet through a majority vote of network participants. Coins are still being distributed through Proof-of-Work Giver contracts.
June 2022
Following the initial distribution of coins, TON enters into a new phase, expanding the number of validators and coins involved in validation. This advancement enhances the stability and security of the network.
