Starting April 1, active members of The Open Network (TON) community will be able to claim $125 million. However, for this they will need to complete certain tasks.
The TON blockchain team will distribute 30 million Toncoin tokens ($125 million at the time of writing). Free coins will go to active community members. This is stated in blog project.
What will tokens be given for?
From April 1 until the end of the month, the non-profit organization TON Foundation will distribute tokens for user activities in four areas. Each of them is intended for a specific category of users – from beginners to professionals.
- The league is a competition for Web3 project developers with a prize pool of $5 million.
- Token mining is the creation of simple and fast mechanisms for mining cryptocurrency that are suitable for beginners.
- Quests and airdrops – a step-by-step introduction to using projects on TON and distributing rewards for participation.
- Increasing the ecosystem liquidity pool.
TON's latest initiative aims to increase the appeal and visibility of the blockchain. Thus, the developers want to significantly increase the user base.
How Toncoin responded
At the moment, against the backdrop of the news, the price of TON jumped by more than 10%. According to CoinGeckothe token is currently trading at $4.14, having risen in price by a total of 5% over the past 24 hours.
Trading volume over the past 24 hours immediately soared by 30% – to $216 million. Toncoin's capitalization is $14.3 billion.
Earlier, Telegram sold bonds worth $330 million. The specific terms of the deal were not disclosed, but all this suggests that investors trust the project. In this light, members of the crypto community are discussing how raising capital could affect the price of TON.
Source: Cryptocurrency
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