TON to launch Open League, giving $115m to community

The TON project team announced The Open League season one, during which the TON Foundation will distribute 30 million Toncoin.

According to a March 20 post, TON projects will compete for a large prize, and starting on April 1, TON network users will receive rewards for their activity.

The competition consists of four systems that will share a total budget of 30 million Toncoin: league, token mining, quests, and distributions, as well as increasing the liquidity pool.

“Any web3 project on TON can compete to enter the Minor League; how? Show significant traction, have a cool community, win community votes, be a top hacker at one of our hackathons, or boss the TON Accelerator.”

TON team

Each season, two projects that showed promising results will be transferred from the Minor League to the Major League, and two projects that showed poor results will be transferred to the lower league. Winning projects can then choose what to do with their winnings.

The launch of the next TON initiative again led to the growth of the Toncoin (TON) project token. According to data from CoinMarketCap, the coin continues to show strong growth, rising almost 9% in the last 24 hours to $4.19 at the time of writing.

The growth of the Toncoin token is also facilitated by the initiatives of Pavel Durov, the creator of the Telegram messenger, who aimed to monetize Telegram channels in cryptocurrency.

Durov also announced measures to limit Telegram’s share in TON to approximately 10% of the total emission volume. The owner of Telegram decided to sell surplus TON reserves with tokens locked for up to four years.