The Open Network Foundation is rewarding the TON blockchain community with 30 million Toncoin (TON) tokens, worth $115 million, in order to promote Telegram’s new advertising platform.
On March 20th, it was announced that $38 million would be allocated for token mining and user rewards, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool enhancements.
Jack Booth, the marketing director of the TON Foundation, noticed that the community was open to exciting activities. The Telegram Ad Platform, built on the TON blockchain and operating since March 2024, fosters a mutually advantageous environment by enabling global channel owners to monetise advertising sales.
The foundation plans to increase user engagement and ecosystem participation by giving 30 million Toncoin over one-month periods beginning April 1. $2.6 million, or 650,000 TON, was distributed throughout the pilot season. On March 31, the winners of The League Pilot will get 550,000 TON ($2.2 million).
After being adopted by the Open Network Foundation in 2020, TON was first developed by Telegram, but it encountered legal challenges. Telegram is exploring an initial public offering (IPO) in order to emphasize its loyal users and is approaching profitability. These are significant advances in the network.
To encourage engagement and growth on the TON blockchain, which will benefit both users and the ecosystem as a whole, the Open Network Foundation has intentionally allocated 30 million Toncoin tokens as community incentives.
Read also: TON Foundation Collab with HashKey to Provide Crypto On-Ramping Solutions for Telegram
