Binance Exchange announced earlier that it will launch TON 1-50x U perpetual contracts at 20:30 Taipei time today. Encouraged by this news, the TON price surged more than 10% within three hours.
(Brief introduction:
TON received multimillion-dollar financing from MEXC Ventures, promoting Telegram to become a “Web3 super app.”
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(Background supplement:
Backed by Telegram’s 800 million users, will TON’s ecosystem be a flash in the pan or a big success?
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TON (The Open Network), a public chain project launched by Telegram, one of the world’s most popular social applications with over 800 million users, has a huge potential user base. Following the announcement by founder and CEO Pavel Durov on the 28th, stating that TON will drive a 40% short-term surge through 50% advertising revenue sharing (expected to launch in March), Binance Exchange also announced this afternoon that it will launch TON 1-50x U perpetual contracts at 20:30 Taipei time on March 1st, providing users with more diverse contract trading options. Inspired by this news, the TON price continued to rise from $2.48 and reached $2.728 before the deadline, with a surge of over 10% within three hours.
Telegram groups will introduce 9 new features
Just this morning, Telegram founder Pavel Durov also announced that groups will soon release 9 new features, including:
– Groups can publish stories and save them as posts on personal profile pages.
– Unique wallpapers and statuses can be set.
– The appearance can be finely customized, including the color and logo or link style of the group profile cover.
– Voice-to-text conversion to enhance accessible communication, and more.
Telegram stated that due to restrictions from the App Store, some features have been delayed to future updates. However, these features will be launched in the March update, bringing users a more comprehensive communication experience. For complete details, please refer to the official explanation.
Telegram provides two functions: “Channels” and “Groups.” “Groups” are similar to LINE groups, where members can communicate and discuss with each other, while “Channels” are more like official accounts on LINE, mainly used as channels for enterprises to release new information.
TON Development History
The story began in 2018 when Telegram hoped to issue its own cryptocurrency. Therefore, the Telegram Open Network project was launched, and $1.7 billion was raised through an Initial Coin Offering (ICO). At that time, the cryptocurrency was called $GRAM. However, in October 2019, it was accused of illegal fundraising by the U.S. SEC. Therefore, in May 2020, Telegram founder Pavel Durov publicly announced the abandonment of the blockchain project TON and was fined $18.5 million by the SEC.
After Telegram gave up the project, it was taken over by a developer community called newTON and continued to develop (renamed as TON Foundation in May 2021). The project changed from Telegram Open Network to The Open Network, and the token became TON. Then, in November 2021, the project was listed, and Telegram’s founder publicly supported the TON project.
In April 2022, the TON Foundation announced the establishment of the $250 million ecosystem fund “TONcoin Fund,” which received investments from exchanges and institutions such as Huobi, KuCoin, MEXC, 3Commas Capital, TON Miners, and Kilo Funds.
Recently, TON has launched a series of ecosystem growth plans, including DeFi liquidity incentives, Hack-a-TON hackathons, TON Workshops, etc. It also launched the “TON DEV Journey” event at the end of February, spanning three months, to attract top developers worldwide and make TON a rapidly developing and vibrant ecosystem.
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