Wow, TON Distributes IDR 1.8 Trillion in Toncoin April 1 Tomorrow!

The TON Foundation, which is the managing group behind The Open Network (TON) blockchain, has launched the initial stage of a community incentive program called The Open League. This program promises the distribution of more than $115 million (around Rp1.8 trillion) in the form of Toncoin, a crypto asset that is the backbone of the TON ecosystem.

Program The Open Leauge

After a successful trial phase, The Open League is preparing to distribute 30 million Toncoins to TON ecosystem projects and users starting April 1. Previously, in the trial phase, the TON Foundation had distributed 650,000 Toncoins, worth $2.6 million (around Rp40.7 billion), to increase pool liquidity. On March 31, the winning projects in the trial competition are scheduled to split 550,000 Toncoins, worth $2.2 million (approximately Rp34.4 billion), reported by The Block.

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TON Foundation Wants to Prove Crypto Doesn't Need to Be Complicated

During the trial period, the TON network experienced a significant increase of 70% in total value locked (TVL) on decentralized exchanges (DEXs), as well as a dramatic jump of 370% in the number of daily active addresses.

"The Open League's trial season has proven our community's readiness to innovate and have fun," said Jack Booth, Marketing Director of the TON Foundation. "We want to show that crypto doesn't have to be complicated; Instead, it should be easy, fun, and profitable."

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TON Mining, Airdrop, and Quest Programs

The program will involve various activities such as performance-based competitions, simple token mining, airdrops, and quests, as well as increased pool liquidity. The performance-based competition will provide around $15 million (approximately Rp234.8 billion) in Toncoin for TON projects, while users can earn a share of $100 million (approximately Rp1.5 trillion) of Toncoin as a reward by interacting with the projects.

Around $22 million (approximately Rp344.4 billion) in Toncoin will be used for airdrops and on-chain quests, with $40 million (approximately Rp626.2 billion) in Toncoin allocated to increase the pool's liquidity rewards. In addition, $38 million (approximately Rp595.9 billion) more Toncoin is allocated to provide incentives for the launch of upcoming projects in TON.

Any project from various blockchains can try to join the first season of The Open League by migrating to TON. Projects that do not meet the criteria will be 'relegated' to lower leagues with less incentive.

Conclusion

Toncoin, which is currently trading for $4.05 (approximately Rp63,400), has gained more than 6% in the last 24 hours. Originally developed by Telegram as the Telegram Open Network, the project raised $1.7 billion in a private sale before being abandoned after an SEC investigation.

In 2022, open-source developers saved and rebranded the blockchain into The Open Network with a working mainnet.

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How to Buy Toncoin (TON) on Bittime

You can buy and sell Toncoin (TON) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Toncoin (TON) is available on Bittime with a market pair of TON/IDR. To be able to buy TON IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Toncoin (TON) on Bittime.

Monitor the price chart movements of Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Telegram Shares Toncoin (TON) for Channel Owners

Toncoin (TON) Staking: The Complete Guide to Earn Passive Income and Hold

Getting to Know Toncoin (TON): Definition, History, Advantages, and How to Buy It

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.