The rise of TON (The Open Network) over the last year has been nothing short of spectacular. Since April, The TON Foundation has announced a host of exciting developments, including high-level negotiations about stablecoin adoption in Cameroon, The Republic of the Congo, and The Democratic Republic of the Congo. Other news has included the creation of large ecosystem funds, such as the Toncoin Fund created in April this year, along with $90m TON Alpha-Vista Fund in July.
More recently, the TON Foundation announced the intention of Telegram to launch a marketplace for tokenised Telegram handles built on TON. A partnership with Huobi Global was also announced in September. This included the listing of Toncoin, the native token of TON, on Huobi Exchange. It now appears that more exchanges are following suit in the wake of this announcement. KuCoin, the world’s fifth largest exchange by volume according to CoinMarketCap, has today announced that Toncoin will be available to trade on its platform from the 27th October.
Toncoin is the native token of TON, a third-generation proof-of-stake blockchain initially designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to the open TON Community, which has been supporting and developing it ever since.
TON was designed for lightning-fast transactions and is cheap to use, user-friendly, and fully scalable. The TON Foundation is a non-commercial group of supporters and contributors who help further grow the TON blockchain.
KuCoin’s venture arm, KuCoin Ventures, has worked with the TON ecosystem before, having led the creation of the $250M Toncoin Ecosystem Fund alongside Huobi Incubator. This most recent announcement continues TON’s long-standing collaboration with KuCoin.
Toncoin will be made available to trade in the TON/USDT spot pair. The listing will be marked by a number of activities to promote this significant moment in TON’s story. These activities will include airdrops, competitions, and more. Staking incentives will also be implemented with a generous APR during the limited promotional period.