In a significant move to address concerns about the concentration of Toncoin (TON), Pavel Durov, the creator of Telegram, revealed a strategy to maintain the decentralization and stability of the TON ecosystem. Following the recent surge in TON’s price, Durov took to his Telegram channel once again to allay fears raised by some community members regarding the messenger’s potential dominance in TON holdings.
In his message, Durov assured the community that Telegram recognizes the importance of a decentralized ecosystem and is committed to ensuring a fair distribution of TON. To achieve this, he announced plans to limit Telegram’s share of Toncoin to approximately 10% of the total supply. This decision involves selling the surplus holdings to long-term investors at a discounted rate, with a lockup and vesting plan spanning one to four years.
Long-term holding
Furthermore, Durov emphasized the importance of engaging with potential investors in a transparent and organized manner. To facilitate this process, Telegram has established a dedicated email address for large investors, those willing to invest $1 million or more, to express their interest in purchasing TON.
This proactive approach aims to increase the participation of long-term holders in the TON ecosystem, thereby promoting stability and reducing volatility. By locking up free-floating Toncoin, Telegram seeks to prevent any undue influence on the market while fostering a decentralized environment conducive to growth and innovation.
By addressing concerns about TON concentration and implementing measures to uphold decentralization, Durov aims to instill confidence in the integrity and long-term viability of the The Open Network ecosystem.
More Stories
Bitcoin analysts say BTC price correction is just ‘healthy consolidation’
Solana (SOL) Price Lags Behind As PEPE Coin (PEPE) Reaches New All-Time High
Here’s How Long the Current Bitcoin Bull Market Could Last, According to Closely Followed Crypto Analyst