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KuCoin Lists Native Token of TON Blockchain, Developed by Telegram Founders

KuCoin Lists Native Token of TON Blockchain, Developed by Telegram Founders

Toncoin (TON) Listing

KuCoin says the total coin supply is 5,071,712,713 tons, and the market cap reaches $5,018,834,996. Toncoin will be listed on October 27 at 10 am PT. Retreats are available on October 28 at 10 am. This announcement follows Toncoin’s recent listing on the cryptocurrency exchange Huobi in September this year. Before the coin’s listing, KuCoin’s venture arm, KuCoin Ventures, worked with the TON ecosystem and led the creation of the $250 million Toncoin ecosystem fund. Along with the Huobi incubator. The Toncoin development team promised incentives for staking and currency airdrops to accompany the listing.

Revived Blockchain Project

The open-source TON blockchain’s native currency is called the TON coin. The initials TON stood for Telegram Open Network. The Durov brothers, who founded Telegram Messenger, created it in 2018. But in 2020, Telegram gave up on the endeavour. Later, it was transferred to the Open TON Foundation, which has developed ever since. The TON blockchain has undergone numerous changes over the last few months. The @wallet bot, which facilitates P2P cryptocurrency transactions directly from Telegram chats, received the most recent modifications on August 19, according to an announcement from the TON Foundation. Telegram also launched a tokenised username marketplace based on the TON blockchain. On the Flipside

In 2018, Telegram’s TON Initial Coin Offering raised nearly $1.7 billion from the sale of GRAM tokens. As a result, the United States Securities and Exchange Commission (SEC) took a strong stance on TON due to its regulatory actions. To pay the SEC fees, the company had to return $1.2 billion to investors and pay $18.5 million in penalties.

Why You Should Care

The listing of the local currency on significant crypto exchanges marks an essential milestone in the project’s roadmap and will further develop the project’s decentralised ecosystem.

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