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March 20, 2025 – The TON Foundation, the driving force behind The Open Network (TON), a decentralized layer-1 blockchain originally developed by Telegram, has announced a successful token sale, raising over $400 million. This substantial investment will be used to bolster liquidity, accelerate development within the TON ecosystem, and drive broader adoption of the fast, secure, and scalable blockchain.
The token sale, which concluded within 24 hours, saw strong participation from prominent venture capital firms including Sequoia, Ribbit Capital, and Benchmark. This funding round marks a significant milestone for TON, validating its potential to revolutionize how users interact with blockchain technology. The tokens were sold at a price of $2.50 each, representing a 20% premium over the previous day's closing price, according to CoinMarketCap data. A total of 160 million TON tokens, equivalent to approximately 2% of the total token supply, were sold in this round.
Empowering Telegram's 900 Million Users and Beyond
TON, designed with a focus on user-friendliness and scalability, aims to onboard millions of users to the blockchain, leveraging Telegram's massive user base. The integration of TON with Telegram offers a unique opportunity to bridge the gap between traditional messaging and the world of decentralized applications (dApps). TON's architecture, featuring dynamic sharding and instant hypercube routing, allows it to handle millions of transactions per second, making it ideal for mainstream adoption.
Key Features and Advantages of TON:
- Speed and Scalability: TON's innovative architecture enables near-instant transaction speeds and the capacity to handle massive transaction volumes.
- Decentralization and Security: As a fully decentralized layer-1 blockchain, TON offers robust security and resilience against censorship.
- User-Friendly Applications: TON is designed to support user-friendly applications and services, making blockchain technology accessible to a wider audience.
- Integration with Telegram: TON's seamless integration with Telegram offers a unique distribution advantage, potentially reaching millions of users.
- Dynamic Sharding: TON's dynamic sharding automatically adjusts the number of shards based on network load, ensuring optimal performance.
- Instant Hypercube Routing: This innovative routing mechanism allows for near-instant message delivery between shards, regardless of their number.
- Multi-Currency Support: TON supports multiple cryptocurrencies, offering flexibility and interoperability within the ecosystem.
- TON Storage: A decentralized file storage technology accessible through the TON Network.
- TON Proxy: An anonymizer layer similar to I2P, enhancing user privacy and security.
- TON Services: A platform for a wide range of services residing within the TON Network.
- TON DNS: A service for assigning human-readable names to accounts and services.
- TON Payments: A platform for micropayments and instant off-chain value transfers.
Driving Innovation and Ecosystem Growth
The funds raised will be strategically allocated to further develop the TON blockchain's infrastructure, expand its ecosystem, and support promising projects building on TON. The TON Foundation is committed to fostering innovation and creating a thriving community of developers, users, and investors. Key initiatives include:
- Scaling Infrastructure: The funding will be used to enhance TON's infrastructure and support its growing user base.
- Ecosystem Expansion: The TON Foundation will invest in expanding the TON ecosystem, supporting new dApps and services.
- Developer Incentives: Programs and initiatives will be implemented to incentivize developers to build on TON and contribute to its growth.
- Community Building: The TON Foundation will continue to foster a vibrant community around TON, supporting events, meetups, and online forums.
About TON Foundation:
The TON Foundation is a non-profit organization dedicated to supporting the development and growth of The Open Network (TON). The Foundation acts in the interests of the TON community, fostering innovation and driving the adoption of TON's technology.
About Sequoia, Ribbit Capital, and Benchmark:
Sequoia, Ribbit Capital, and Benchmark are leading venture capital firms with a strong track record of investing in innovative technology companies. Their participation in this funding round underscores their confidence in TON's potential.
This significant investment marks a pivotal moment for TON, positioning it for continued growth and mainstream adoption. The TON Foundation is confident that TON will play a key role in shaping the future of decentralized technology.
Compiled by CMO Intern team
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