Category: Forex News

The Open Network Unveils $124M Incentives Program Amid Soaring Growth

TON’s TVL has doubled in four weeks, while Toncoin rallied 53% over the past fortnight.

The TON Foundation, the organization building The Open Network (TON), the blockchain previously known as Telegram Open Network, is launching a program distributing nine figures worth of incentives to developers and users.

Announced on March 20, the foundation will distribute 30 million of its native Toncoin tokens to active users through its newly announced Open League campaign. With Toncoin currently trading for $4.13, the rewards on offer are worth roughly $124 million.

The Open League will take place over four month-long seasons starting April 1. The first season will offer roughly $15 million worth of tokens to developers that meet key performance indicators and top a competitive leaderboard. Approximately $22 million will also be up for grabs for dApp users in the form of quests, airdrops, and incentives for liquidity providers.

“The Open League and its massive rewards are designed to create a positive ‘flywheel’ for TON projects,” the foundation said. “The hypothesis is simple – once the world sees how every project in The Open League can make millions of Telegram users go on-chain; TON becomes the obvious choice for every mass audience consumer product on the planet.”