Toncoin experiences 10% surge following the unveiling of a $115 million distribution plan
Toncoin Foundation has made a major announcement today, revealing its distribution plan and signaling a significant development in the TON ecosystem. This has sparked renewed interest from investors, leading to a remarkable 10% surge in the price of the TON coin.
The distribution plan, which is valued at $115 million, was unveiled on Ton Foundation’s official blog page. The plan involves the distribution of 30 million Toncoin through the Open League initiative. The foundation has provided detailed information about its plans for The Open League Season 1, which is set to begin on April 1. The goal of this distribution plan is to increase engagement and participation within the TON ecosystem, while also incentivizing Ton-chain users and TON projects.
According to the official announcement, starting from April 1st, the TON Foundation will distribute 30 million Toncoin over the course of one-month seasons. This amount is roughly equivalent to $115 million.
The Open League initiative consists of four primary systems that have been designed to encourage community rewards and project growth. One of these systems is called ‘The League’ and it offers a $5 million Toncoin prize pool. This system fosters competition among Ton projects, encouraging innovation and collaboration within the ecosystem. Ton projects will compete for top rankings, and the winners will have the opportunity to distribute their winnings or reinvest in their projects.
Another system is ‘Token Mining’, which targets amateur users and provides them with a simple way to earn rewards through project-specific activities and referral programs. This system encourages projects to adopt this model in order to accelerate user acquisition and engagement.
The ‘Quest and Rewards’ system is aimed at “Degen Dabblers” and promotes on-chain activities and participation in quests to earn Soul Bound Tokens, as well as periodic airdrops. The prize pool for quests and airdrops amounts to $22 million in Toncoin.
The fourth system, ‘Liquidity Pool Boosts’, caters to experienced users and offers enhanced rewards for providing liquidity to designated pools. This helps to strengthen Toncoin’s ecosystem.
Since the announcement of Ton Foundation’s distribution plan, Toncoin has experienced a 10% surge in price, reflecting investor optimism about the potential for increased community engagement and project growth. Currently, Toncoin is trading at $4.26, with a trading volume of $179.36 million.