What is Toncoin (TON)?
Toncoin is the native coin of The Open Network (TON), a blockchain originally designed by Telegram founders Nikolai and Pavel Durov, who raised funds for it in 2018. After Telegram stepped away in 2020 following a US regulatory dispute, open-source developers carried the project forward, and Telegram has since returned as a major contributor and validator. In June 2026 holders voted to restore the original name, so the coin now trades as Gram (GRAM) with no change to balances or addresses.
- Type
- Layer-1 blockchain coin
- Launched
- 2020
- Consensus
- Proof of Stake
- Max supply
- No fixed cap
- Swap network
- TON
- Sector (Messari)
- Smart Contract Platform
How Toncoin works
TON is a Proof of Stake network in which validators lock coins and take turns producing blocks using a Byzantine fault tolerant protocol. Its architecture splits work across a masterchain and workchains that can shard dynamically as load rises, which lets it process many transactions in parallel.
What TON is used for
The coin pays for transactions, smart contract storage and staking, and it is the currency behind many Telegram mini-apps and in-app payments. People also hold it in self-custodial wallets connected to Telegram and use it in TON-based DeFi.
TON supply
There is no hard cap: validators are paid with newly issued coins at a low annual rate, and part of every network fee is burned to offset that issuance.
Before you swap TON
Exchanges and wallets may list the asset as TON, Toncoin or GRAM; they are the same coin on the same network. Some exchanges require a memo or comment on TON deposits, so double-check the destination details before withdrawing there.