Telegram CEO Responds To Concerns, Offers Solution To Restrict Company’s TON Stake To 10%
04 Março 2024 - 9:00PM
NEWSBTC
The popular messaging platform Telegram has revealed its plans to
sell its surplus holdings of The Open Network (TON) tokens at
below-market prices. This move comes after concerns were raised
about the potential centralization of TON supply due to ad payments
being exclusively accepted in TON tokens. Telegram Addresses
Concentration Concerns As NewsBTC reported on February 28, starting
in March, channel owners will have the opportunity to receive
financial compensation for their content. All transactions,
including payments and withdrawals, will be handled on the TON
blockchain. Telegram’s advertising platform will be available to
advertisers in nearly one hundred new countries. With this
expansion, channel owners will receive 50% of the revenue generated
from ads displayed on their channels. Related Reading: Shiba Inu
Blasts Into Top 10 Crypto Following 175% Price Surge In response to
concerns about the concentration of TON tokens with this new
feature, Telegram CEO Pavel Durov announced plans to sell the
company’s surplus holdings. With ad payments in TON tokens
potentially accounting for more than 10% of the TON supply at
Telegram, Durov acknowledged the need for a solution to avoid
centralization. Telegram aims to limit its share of TON by
selling the surplus holdings to long-term investors, ensuring a
“healthier distribution” and a decentralized ecosystem. The tokens
sold will be subject to a lockup and vesting plan ranging from 1 to
4 years. To ensure a streamlined process for selling TON tokens,
Telegram has set up a dedicated email address where interested
large investors (with investments of $1 million or more) can
express their interest, aiming to maintain stability and
decentralization within the TON ecosystem. TON Ecosystem
Thrives Despite the growing concerns, the TON ecosystem is showing
encouraging signs of growth, as evidenced by recent data provided
by Token Terminal. Market capitalization, trading volume, fees, and
revenue have all increased significantly over the past 30 days.
Additionally, active users have consistently grown daily, weekly,
and monthly. Over the past 30 days, the fully diluted market
capitalization of the TON ecosystem has reached $13.83 billion,
marking a significant 31.0% increase. Moreover, the token’s trading
volume has seen a modest but steady 1.4% rise, reaching $1.21
billion. Fees generated within the ecosystem have also
experienced substantial growth, with an 80.9% increase over the
past 30 days, totaling $860,490. The annualized fees have also
surged, reaching $10.47 million, reflecting a 45.3% growth rate.
Furthermore, revenue generated within the ecosystem has followed a
similar trajectory, with a significant 80.9% increase over the past
month, amounting to $430,250. The annualized revenue stands at
$5.23 million, indicating a promising revenue stream for the
ecosystem. Related Reading: Bitcoin Will Reach A New All-Time High
This Week, Matrixport Head Of Research Says Last but not least, the
TON ecosystem has seen consistent growth in its user base over
different periods. Daily active users have increased by 1.5%,
reaching 33.66k, while weekly active users have experienced a
growth rate of 19.6%, reaching 178.62k. Monthly active users also
showed a positive trend, with a growth rate of 10.3%, reaching
412.39k. TON is trading at $2,735, up 3% over the past 24
hours and extending its 34% rise over the past 30 days. Featured
image from Shutterstock, chart from TradingView.com
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