Telegram CEO Pavel Durov has addressed concerns about the concentration of TON, the native cryptocurrency of The Open Network, by implementing new measures.
These include capping Telegram’s TON holdings at 10% and selling excess TON to long-term investors below market price. A lock-up period of 1 to 4 years will stabilize the ecosystem and reduce volatility.
Telegram introduced an email address for large investors interested in purchasing over $1 million worth of TON. Additionally, Telegram launched its Ad Platform in new countries, offering channel owners 50% of ad revenue, exclusively conducted through the TON blockchain.
Following these announcements, TON surged by almost 40%, aiming to bolster its growth and solidify Telegram’s position as a leading social network.
Telegram’s recent decision to share ad revenue with broadcast channel creators will promote community engagement and content sharing within the app. The company has announced that the TON blockchain will be the sole payment method for this revenue-sharing initiative.
Pavel Durov clarified that this move aims to leverage the TON blockchain’s capabilities. Subsequently, following the announcement, the price of TON experienced a significant surge, as seen on CoinMarketCap data.
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