Telegram Plans to Sell Surplus TON Tokens at Below-Market Prices
Telegram, the popular messaging platform, has announced its intention to sell its surplus holdings of The Open Network (TON) tokens at prices below the market value. This decision comes in response to concerns about the potential centralization of TON supply due to ad payments being exclusively accepted in TON tokens.
Addressing Concentration Concerns
In March, channel owners on Telegram will have the opportunity to receive financial compensation for their content, with all transactions being handled on the TON blockchain. As a result, Telegram’s advertising platform will be available to advertisers in nearly one hundred new countries, and channel owners will receive 50% of the revenue generated from ads displayed on their channels.
However, there were concerns about the concentration of TON tokens resulting from this new feature. In response, Telegram CEO Pavel Durov announced plans to sell the company’s surplus holdings. With ad payments in TON tokens potentially accounting for more than 10% of the TON supply at Telegram, Durov acknowledged the need for a solution to avoid centralization.
To address this issue, Telegram aims to limit its share of TON by selling the surplus holdings to long-term investors. This move is intended to ensure a healthier distribution of tokens and promote a decentralized ecosystem. The tokens sold will be subject to a lockup and vesting plan ranging from 1 to 4 years.
To streamline the process of selling TON tokens, Telegram has set up a dedicated email address for interested large investors (with investments of $1 million or more) to express their interest. This approach is aimed at maintaining stability and decentralization within the TON ecosystem.
The Thriving TON Ecosystem
Despite concerns about centralization, the TON ecosystem has been experiencing significant growth. Recent data provided by Token Terminal shows positive trends in market capitalization, trading volume, fees, revenue, and active users.
Market Capitalization and Trading Volume
In the past 30 days, the fully diluted market capitalization of the TON ecosystem has increased by 31.0% to reach $13.83 billion. The token’s trading volume has also seen a modest but steady rise of 1.4% to reach $1.21 billion.
Fees and Revenue
Fees generated within the TON ecosystem have experienced substantial growth, with an 80.9% increase in the past 30 days, totaling $860,490. The annualized fees have reached $10.47 million, reflecting a growth rate of 45.3%. Revenue generated within the ecosystem has followed a similar trajectory, with an 80.9% increase over the past month to reach $430,250. The annualized revenue stands at $5.23 million.
User Growth
The TON ecosystem has seen consistent growth in its user base over different periods. Daily active users have increased by 1.5% to reach 33.66k, while weekly active users have experienced a growth rate of 19.6% to reach 178.62k. Monthly active users also showed a positive trend, with a growth rate of 10.3% to reach 412.39k.
Hot Take: Promising Future for TON
The TON ecosystem is showing promising signs of growth despite concerns about centralization. With Telegram’s plans to sell surplus TON tokens and ensure a healthier distribution of tokens, there is hope for a more decentralized ecosystem. The thriving market capitalization, trading volume, fees, revenue, and user growth further indicate the potential for TON’s success in the future.
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