News

Toncoin Distribution Plan Expected Up To $115 Million For Users To Promote Community

Key Points:

TON surges 9.2% after the Ton Foundation’s $115 million Toncoin distribution plan announcement.
Open League Season 1, starting April 1, offers 30 million TON in rewards for community engagement.
Telegram CEO hints at IPO, rejecting $30 billion offers, signaling significant industry shifts.

Toncoin (TON) has experienced a notable surge in its price today, coinciding with the Ton Foundation’s announcement of a significant Toncoin distribution plan.

$115 Million Toncoin Distribution Plan Unveiled

The foundation unveiled its intention to distribute $115 million worth of Toncoin in April through its Open League initiative, sparking optimism and heightened interest in Toncoin’s future trajectory.

Enthusiasts witnessed an impressive uptick in the cryptocurrency’s value as it surged 9.2% amid anticipation surrounding the Toncoin distribution plan. The Open League Season 1, set to commence on April 1, aims to double down on community engagement and participation through the distribution of 30 million TON in rewards.

The Open League initiative comprises four key systems—“The League,” “Token Mining,” “Quests & Airdrops,” and “Liquidity Pool Boosts”—designed to incentivize and reward various segments of the Ton community.

Telegram CEO Pavel Durov Hints at IPO Amid Rejecting $30 Billion Offers

In related news, Pavel Durov, founder and CEO of Telegram, disclosed the company’s contemplation of an initial public offering (IPO). This move, akin to Reddit‘s strategy, is projected to raise $519 million.

Durov revealed Telegram’s gradual path to profitability, possibly achieved this year or next, and their refusal of investment offers exceeding $30 billion to maintain independence ahead of the IPO. The platform’s current valuation surpasses $30 billion, according to the CEO.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.