Last updated: October 2026
Toncoin is the native token of The Open Network (TON), a proof-of-stake blockchain originally designed by Telegram and now tightly integrated with the Telegram app. Important update: on June 15, 2026, after a community vote, Toncoin was renamed Gram and its ticker changed from TON to GRAM. Only the name, ticker and logo changed; balances, addresses, staking positions and smart contracts carried over automatically, and the blockchain is still called TON. This guide uses “Toncoin” for the token’s history and “Gram” for the present.
Key takeaways
- Telegram raised about $1.7 billion for the original TON project in 2018, then abandoned it in 2020 after an SEC lawsuit; open-source developers relaunched the network as The Open Network with Toncoin.
- Telegram re-embraced TON from 2023, made it the exclusive chain for Telegram Mini Apps in early 2025 and, in May 2026, said it would replace the TON Foundation as the network’s driving force and largest validator.
- Toncoin became Gram (GRAM) on June 15, 2026, after a vote with 81.22% support. No swap or claim is needed; “claim your GRAM” links are scams.
- TON uses sharded “workchains” for scale, and the 2026 Catchain 2.0 upgrade targets sub-second finality.
- The price outlook below uses bull, base and bear scenarios with stated assumptions, not targets.
History and Founders
Telegram’s original TON (2018–2020)
The Telegram Open Network was designed by Telegram founders Pavel Durov and his brother Nikolai Durov, who wrote the technical white paper. In early 2018 Telegram sold future “Gram” tokens to private investors, raising roughly $1.7 billion. In October 2019 the US Securities and Exchange Commission obtained an order halting the launch, arguing the sale was an unregistered securities offering. In 2020 Telegram withdrew from the project, agreed to return more than $1.2 billion to investors and paid an $18.5 million civil penalty. Our regulation guide covers how cases like this shaped US policy.
The community relaunch (2020–2022)
Because Telegram had published the code, independent developers continued the network. A group known as NewTON took over development, renamed the project The Open Network and named the token Toncoin. The non-profit TON Foundation, based in Switzerland, later became the ecosystem’s coordinator. Telegram itself stayed formally separate during this period.
Telegram’s return (2023–2025)
Telegram gradually integrated TON again. It added a wallet inside the app, introduced TON-based usernames and gifts, and in 2024 began paying channel owners 50% of ad revenue from their channels in Toncoin. “Tap-to-earn” mini-games such as Notcoin and Hamster Kombat brought tens of millions of users to TON in 2024, and Toncoin reached an all-time high above $8 in June 2024. In August 2024 Pavel Durov was detained in France as part of an investigation into criminal activity on Telegram, which briefly hit the token’s price. In January 2025 the TON Foundation announced that TON Connect would become the exclusive wallet-connection protocol for Telegram Mini Apps, and by February 2025 mini apps using other blockchains had to migrate to TON.
“Make TON Great Again” and the Gram rename (2026)
In April 2026 Durov began publishing a multi-step plan he called MTONGA on his Telegram channel:
- Catchain 2.0: a consensus upgrade aiming for roughly 10x faster blocks and finality under one second.
- Fee cut: transaction fees fell about sixfold to “nearly zero,” according to Durov.
- Stewardship: on May 4, 2026, Durov said Telegram would replace the TON Foundation as the network’s main driving force and become its largest validator. The Foundation’s future role was not fully spelled out.
- Rename: a TON Vote proposal to rename Toncoin to Gram, reviving the name from the 2018 white paper, passed with 81.22% support and took effect on June 15, 2026. Major exchanges relabelled TON markets as GRAM and converted balances 1:1.
How TON Works
TON was designed from the start to handle Telegram-scale traffic:
If you hold TON and want to earn on it, our guide to how to stake TON compares wallets, pools and liquid staking options.
If you want to use TON apps with funds held on other networks, see how to bridge USDT and ETH to TON for the main routes and pitfalls.
- Masterchain and workchains: A coordinating masterchain records the state of up to many workchains, each of which can run different rules.
- Dynamic sharding: Workchains split into “shardchains” automatically when load rises and merge when it falls, so throughput scales with demand.
- Proof of stake: Validators lock large amounts of Gram to produce blocks and can be penalised for misbehaving. See our proof-of-stake explainer.
- Asynchronous smart contracts: Contracts communicate by sending messages to each other rather than calling each other directly. That suits sharding but makes development and auditing different from Ethereum.
- Built-in services: TON DNS for readable .ton names, TON Storage for files and TON Proxy for network privacy.
Tokenomics
The token keeps the supply mechanics it had as Toncoin: a total supply of a little over 5 billion, with new tokens issued as validator rewards and a portion of fees burned. Before 2026, annual issuance was low, around 0.6%. Faster block production under Catchain 2.0 was expected to raise validator rewards and therefore issuance, so check a current network dashboard rather than relying on older figures. Circulating supply estimates differ between trackers because of locked early-holder balances. See our tokenomics guide for why issuance and unlocks matter.
For wallet choices and exchange routes after the rename, follow our step-by-step guide on how to buy Toncoin (now Gram).
Utility: paying gas, staking, buying Telegram services such as usernames, gifts and ads, paying in Mini Apps, and DeFi collateral on TON-based protocols.
Use Cases
- Telegram payments: Send Gram or TON-based USDT inside Telegram chats.
- Mini Apps: Games, shops and tools that run inside Telegram and must use TON for blockchain features.
- Creator income: Channel ad revenue shares paid in the token.
- DeFi: DEXs such as STON.fi and DeDust, lending markets and liquid staking.
How to Buy and Stake Gram
- Buy: Search for GRAM (some interfaces may still show “Toncoin” or “prev. TON”) on a major exchange, or use the wallet built into Telegram where available. Compare options in our exchange guide.
- Store: Use a TON-compatible self-custody wallet such as Tonkeeper or the self-custodial wallet in Telegram. TON addresses are case-sensitive and some exchanges require a memo; double-check before sending.
- Stake: Running a validator requires a large stake, so most holders use nominator pools or liquid staking protocols (which issue a token representing staked Gram) from inside their wallet. Rewards vary with network parameters and pool fees; there is no fixed APY. Liquid staking adds smart-contract risk.
TON Price Outlook: Scenarios, Not Predictions
On 26 October 2026 Gram (formerly Toncoin) changed hands at about $1.22 (market cap about $3.4 billion). The full scenario analysis, covering what would have to happen for each range and which metrics to watch, now lives in our Toncoin (Gram) price prediction.
Pros and Cons
- Pro: Direct distribution through Telegram’s roughly one billion users.
- Pro: Very low fees and a sharded design built for scale.
- Pro: Exclusive position as the blockchain for Telegram Mini Apps.
- Con: Growing dependence on a single company; Telegram as largest validator raises centralisation questions.
- Con: Legal and regulatory exposure linked to Telegram and its founder.
- Con: Rename confusion creates fertile ground for phishing; see our crypto scams guide.
- Con: Mini App user surges in 2024 proved fragile once rewards ended.
FAQ
What is Toncoin called now?
Since June 15, 2026, Toncoin is called Gram, with the ticker GRAM. The rename followed a community vote with 81.22% support. Your balance converted 1:1 automatically; no action is needed. The blockchain itself is still The Open Network (TON), so “TON” remains the name of the network.
Do I need to swap TON for GRAM?
No. There is no swap, claim or migration. Exchanges and wallets simply relabelled the asset. Any website, bot or message asking you to connect a wallet to “convert” or “claim” GRAM should be treated as a scam.
Is Toncoin owned by Telegram?
The network is open-source and run by independent validators, but Telegram is now its most influential participant. In May 2026 Pavel Durov said Telegram would replace the TON Foundation as the main steward and become the largest validator, and Telegram proposed the Gram rename.
Is TON safe to hold?
The network has run for years without a major consensus failure, but risks include price volatility, centralisation around Telegram, smart-contract bugs in TON apps and widespread phishing. Use a reputable wallet, protect your recovery phrase and verify addresses carefully.
Crypto is volatile and risky; this is education, not financial advice. Do your own research.
