What is Toncoin? | The Open Network

What is Toncoin

In this week's Wealth Mastery Coin Review, we’ll review Toncoin? Including the future of The Open Network.

  • What is Toncoin (TON)?
  • How do you use Toncoin?
  • What is a TON coin?
  • How do I buy Toncoin?
  • Does Toncoin have a future?

What is Toncoin?

Amidst this year's struggling cryptocurrency market, a few projects are still defying the odds and generating healthy returns for their holders. Similar to Gains Network, The Open Network (TON) has become one of those projects to do so. In just the last 60 days, the TON coin has doubled in price and is gaining more interest from the blockchain community. But what exactly is The Open Network? Formally known as Telegram Open Network, TON was launched in May 2020 by the Founders and Creators of Telegram, Pavel & Nikolai Durov. Looking to launch their own network, the brothers began offering future token contracts to investors for GRAM coins in 2018. This sold out immediately to investors in its first $850 Million fundraising round. Prompting a second sale to be conducted where the Durovs raised an additional $850 Million from Investors to bring the total investment in TON up to $1.7 Billion. A minimum investment of $20 Million was required by all participants, seeing a total of 171 initial investors buy 2.9 Billion GRAM coins. But, even this ungodly amount of money wasn’t considered adequate enough, and discussions of a third round to raise a total of $2.55 Billion began circulating on Telegram. 

how to use toncoin

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