Messaging app abandoned by Telegram altcoin The TON Foundation, the representative of Toncoin (TON), announced that a donation of $ 1 billion was made by users to develop their ecosystem.
Toncoin Altcoin Used for Donations
Cryptocurrency According to a statement made by representatives of the ecosystem today, the ecosystem for donations sent by users altcoin the one which… Toncoin (TON) used.
In total, 527 million tons of tokens were donated. This amount of TON tokens equates to over $1 billion at the time of this writing.
According to the statement made by the TON Foundation spokesperson, the donations in question were made from 176 separate accounts, and most of the donations came from whale investors. 18 donations were over 10 million TON and 37 donations were over 4 million TON.
It has been learned that the foundation wants to increase the attractiveness of the TON ecosystem for Web 3 developers.
“Investors Donate to Improve TON Ecosystem”
However, the spokesperson of the foundation said in its statement that there is no incentive program for donors and that these are donations made entirely with the motivation to develop the TON ecosystem.
The TON Foundation was founded by the Blockchain community, which wanted the project to continue after Telegram was forced to shut down its altcoin project in August 2020. Telegram closed the project in question after being sued by the SEC.
The startup, which is a continuation of the TON project, recently received $250 million in its first ecosystem fund from a number of investors, including Huobi and Kucoin exchanges.
At the time of this writing, Toncoin is trading at $2.01 with its 0.79% rise in the last 24 hours.
*Not investment advice.