Updates on @Telegram with the NFTs plugin Marketplace mean a few things for me:
1/ The line between Web3 and Web2 is increasingly blurred. Telegram, as a leading mover and one of the most impactful companies, is pushing hard for Blockchain Tech (@TON_blockchain).
2/ Benefit for #NFTs: As I mentioned earlier, the trend for Gifts on Telegram is just starting, and the Marketplace trend for new opportunities is emerging.
3/ The demand for cross-chain interoperability is certainly present: for better liquidity (user base on Telegram) that connects with other people, cross-chain interaction devices are still a must.
Howard 💎 | Build on TON / Telegram
Proposal for a Dynamic Incentive Mechanism to Enhance the NFT Marketplace on TON Blockchain
"The @Telegram Gifts NFT has driven a significant surge in activity on @TON_Blockchain over the past few weeks."
Inspired by this trend, I have undertaken R&D to propose a novel solution: a Dynamic Incentive Mechanism for NFT Buyers and Sellers to Enhance Market Liquidity and Trading Volume.
This mechanism seeks to address inefficiencies in the existing TON NFT marketplace by introducing a responsive, market-adaptive system that optimizes participation and fosters sustainable growth. My research draws on the principles of two-sided market economics and blockchain-based incentive design, aiming to position TON as a leader in next-generation NFT trading platforms.
The proposed mechanism is informed by successful innovations in other blockchain ecosystems, such as Ethereum’s NFT marketplaces ( @sudoswap, @blur_io, and @LooksRare), which have demonstrated the value of adaptive and user-centric designs.
These platforms have introduced novel approaches to liquidity provisioning, fee structures, and user incentives, offering valuable lessons for TON’s development. Building on these insights, I envision a revitalized NFT marketplace on TON that leverages its unique integration with @Telegram to deliver a seamless and efficient trading experience. The proposed system is structured around three core pillars:
1/ On-Chain Trading:
Currently, Telegram Gifts trading occurs only at the off-chain level, which I believe is suboptimal. Decentralization minimizes asset custody risks and eliminates malicious behavior. While @tonnel_network is performing well, I envision a transition to fully on-chain trading to enhance trust and transparency.
2/ Competitive Trading Fees:
The current trading fee on @getgemsdotio is a one-sided 5%, which isn’t highly attractive. This creates a market gap for platforms like @tonnel_network, or Introducing more DeFi-oriented mechanisms or innovative primitives could make the marketplace more appealing.
3/ Dynamic DApp Potential:
A decentralized application (DApp) that autonomously adjusts parameters based on market conditions has immense potential. It could incentivize buyers to purchase NFTs or encourage sellers to list their assets during bullish cycles, creating a more vibrant ecosystem.
I believe #TON’s NFT ecosystem will grow to include more valuable assets, such as real-world assets (RWAs) or bonds, further enriching its potential.
Check with the whitepaper and the dashboard:
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Ultimately, this is just the beginning. Building on @ton_blockchain, supported by @TON_Ventures and @ton_society, is essential to unlocking more possibilities. The current ecosystem presents an ideal opportunity to create something innovative. There’s still much to explore—whether in protocol design, mini-apps, or product UX.
Above all, #TON is a unique ecosystem with the potential to deliver a superior financial system to users worldwide, leveraging the power of @Telegram.
If you are looking for similar ideas to build on TON, and having the long-term vision to build on Telegram/TON, feel free to DM and let me know.
Source / Reference:
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The current price of Toncoin is $3.4170. Over the last 24 hours, Toncoin has decreased by -2.26%. It currently has a circulating supply of 2,490,093,874 TON and a maximum supply of 5,129,569,851 TON, giving it a fully diluted market cap of $8.54B. At present, the Toncoin coin holds the 18 position in market cap rankings. The Toncoin/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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The Open Network, also known as TON, is a scalable multi-blockchain network that can process millions of transactions per second. Toncoin (TON) is the name and ticker symbol of The Open Network’s native utility and governance token.
Existing blockchains sometimes lack scalability and user-friendly interfaces. Meanwhile, blockchains can’t communicate with each other directly. The Open Network aims to solve these problems using its multi-blockchain architecture.
The TON blockchain is a collection of blockchains that consists of a masterchain, up to 232 workchains, and up to 260 shardchains. TON’s masterchain is the principal blockchain with all the information about the protocol. On the other hand, workchains are blockchains that handle smart contract transactions. These workchains are further subdivided into shards.
Through these shards, TON transfers messages instantly between any two blockchains, regardless of the network size, achieving massive scalability at speed. What’s more, to combat security issues and maintain decentralization, TON uses Proof of Stake (PoS) consensus and allows validators to add new blocks while avoiding unnecessary forks.
The TON ecosystem consists of blockchain products such as decentralized storage, a blockchain naming system, a micropayment platform, and other decentralized services. TONCOIN has several use cases in this ecosystem, such as earning validator and liquidity farming rewards, voting for protocol proposals, and paying for TON products.
TON price and tokenomics
Toncoin (TON) has a total supply of 5 billion. Of the total supply, 1.45 percent was distributed between testers and developers. The remaining 98.55 percent was transferred to Proof of Work (PoW) Giver smart contracts.
New Toncoin tokens are generated during block validation. As a result, Toncoin is inflationary, impacting its price in the long run. The annual inflation rate is 0.6 percent, calculated according to payments made by the TON community to the validators.
TON reached an all-time high price of $8.28 on June 14, 2024, with a market cap of more than $16.5 million.
TON: how is it different from Toncoin?
It’s helpful to understand the difference between TON the token and the TON ecosystem, as each shares the same name.
Toncoin, with the ticker TON, is the cryptocurrency that powers the TON ecosystem, which is short for The Open Network. The Open Network — also abbreviated to TON, refers to the underlying blockchain infrastructure and network. Toncoin (TON) is the native currency for transactions, staking, and governance within the same ecosystem.
Toncoin’s recent developments
Year 2024 brought numerous milestones to Toncoin. In March, the project announced the launch of The Open League, a community rewards initiative that grants millions of TON tokens to projects and users in the TON ecosystem. The Open League and its token distribution program aims to support the community’s continued growth by “putting crypto in every pocket”, according to Toncoin.
Meanwhile, the TON token’s price spiked by 50% in the month to date during May 2024, partly fueled by anticipation for the launch of Notcoin, a play-to-earn game. Notcoin’s native token, NOT, is built on the TON blockchain.
Soon after, crypto commentators suggested TON prices could hit new highs as excitement grew towards a Token Generation Event for Hamster Kombat, a Telegram clicker game that’s also built on the Ton blockchain. Also contributing to the positive sentiment were suggestions that the Ton wallet would potentially be integrated with the game platform.
The continued growth of the Toncoin ecosystem has been reflected in noteworthy growth for the blockchain’s total value locked, which surpassed $300 million during May 2024.
About the founders
The Open Network (TON) was initially launched as Telegram Open Network by Telegram founders Pavel and Nikolai Durov in 2019. However, Telegram Open Network was closed during mid-2020 following a regulatory ruling in the U.S.
Independent developers Anatoliy Makosov and Kirill Emelyanenko created The Open Network after Telegram stepped away from the project.
The decentralized community now consists of over 40 independent developers who work on the project as a part of TON Foundation, a not-for-profit community funded by donations.
The project is currently independent of Telegram, and the Telegram team has transferred the ton.org domain and the Github repository to TON’s blockchain developers. Meanwhile, Telegram founder Pavel Durov previously endorsed The Open Network in an official Telegram post during December 2021.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 431 new posts about Toncoin, driven by 298 contributors, and total online engagement reached 34K social interactions. The sentiment score for Toncoin currently stands at 68%. Compared to all cryptocurrencies, post volume for Toncoin currently ranks at 4468. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Toncoin.
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Posts
431
Contributors
298
Interactions
34,389
Sentiment
68%
Volume rank
#4468
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Posts
153
Interactions
7,559
Sentiment
80%
Toncoin FAQ
What is The Open Network?
The Open Network (TON) is a multi-blockchain network that can process millions of transactions per second. TON has a range of blockchain services, including decentralized storage, a blockchain naming system, a network anonymizer, and a micropayment platform. Toncoin (TON) is the name and ticker symbol of The Open Network's native utility and governance token.
How does The Open Network work?
The Open Network (TON) has a multi-blockchain architecture consisting of a masterchain and up to 232 workchains. These workchains are further subdivided into up to 260 shards. The TON blockchain uses Proof of Stake consensus for generating new blocks. On the other hand, Toncoin tokens are generated using Proof of Work mining.
What is the TON price prediction?
While it’s challenging to predict the exact future price of TON, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is 1 Toncoin worth today?
Currently, one Toncoin is worth $3.4170. For answers and insight into Toncoin's price action, you're in the right place. Explore the latest Toncoin charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Toncoin, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Toncoin have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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