Toncoin

Toncoin (ticker: TON) is the native cryptocurrency of The Open Network (TON), a layer-1 blockchain and service stack. It exists on TON itself (not as an ERC-20 or a wrapped asset) and functions as the network’s base currency. In practice, Toncoin is the unit used to operate the blockchain and its integrated services—transactions and smart-contract execution on the TON Blockchain, and service operations across TON DNS, TON Sites, TON Storage and TON Proxy.

Toncoin also underpins the network’s proof-of-stake security model: validators stake TON to help run the chain and receive protocol rewards for doing so. Operational details of staking and validator roles are covered in their dedicated sections.

Developer tooling and code commonly refer to balances in nanotons (often written as ‘nano’), the smallest on-chain unit even though users interact in Toncoin. This is analogous to “wei” on Ethereum and helps avoid rounding in smart-contract logic. For practical uses of Toncoin across apps and services, see “What is Toncoin used for across the ecosystem?”

Telegram originally developed the “Telegram Open Network” and planned the Gram token, but stopped the project in 2020 after a U.S. SEC action and court-approved settlement. The open-source codebase and vision were then continued by an independent community as The Open Network (TON) with Toncoin as the native asset. Today, TON is a community-led blockchain, while Telegram is a separate company.

Telegram now integrates with TON without controlling it. The company operates an in-app Wallet in Telegram that offers two modes: a custodial Crypto Wallet and a self-custodial TON Wallet for on-chain activity on the TON blockchain. Availability and features depend on region and product policy.

Telegram also runs TON-based Ads: advertisers buy channel ads using Toncoin, and eligible channel owners can withdraw 50% of ad revenue (handled via Fragment). This is a platform integration built on TON rather than a governance role in the network.

Fragment is Telegram’s official marketplace for @usernames and related assets; auctions and settlements occur using Toncoin and link to Telegram accounts.

Separately, the TON Foundation is a Swiss non-profit that supports the TON ecosystem; it does not own Telegram or operate the messaging platform.