The TON Foundation recently announced an exciting partnership with Tether, aimed at boosting USDT’s usage on its network through a significant incentive initiative. A substantial sum of 11 million Toncoin (TON) will be distributed to foster early adoption of the stablecoin within the network.
Strategic Token Allocation to Enhance Network Utility
The incentive program strategically allocates tokens to increase utility and investment appeal across the network. A total of 5 million TON has been earmarked to augment rewards within liquidity pools on decentralized platforms such as DeDust and STON.fi, thereby enhancing their attractiveness to investors.
Another 5 million tokens are dedicated to users engaging with USDT via the Wallet’s Earn campaign, directly incentivizing the use of USDT in the TON ecosystem. This segment of the initiative aims to encourage broader participation and integration of stablecoin transactions within the network.
Facilitating Easy Transactions and Market Impact
The program also allocates 1.2 million Toncoin to support the commission-free withdrawal of funds through centralized TON partner exchanges. This move allows users to purchase USDT or other blockchain assets and transfer them into the TON network without any additional fees, streamlining the process and encouraging more fluid market participation.
Following the announcement, Toncoin’s value witnessed a notable fluctuation, initially spiking to $7.21 before settling at $6.43 per coin, according to CoinMarketCap. The market capitalization of TON stood resilient at $22.3 billion amidst these changes.
Expansion through Innovation
In a related development, Telegram’s Founder Pavel Durov highlighted a new potential application for the TON blockchain: the tokenization of Telegram stickers. This initiative proposes that sticker creators could earn 95% of the revenue from sales, utilizing the TON blockchain to facilitate transactions and reward creators directly.
These developments reflect the TON Foundation’s commitment to leveraging blockchain technology for practical, user-centered solutions and expanding its ecosystem through innovative applications.