The post TON locks up 25% of token supply to make tokenomics predictable appeared on BitcoinEthereumNews.com.

The TON Believers fund will freeze depositors’ coins for two years, after which TON deposits will be vested monthly with rewards for a further three years. The Open Network community has locked up nearly 25% of the Toncoin (TON) supply for five years to “bring predictability to Toncoin tokenomics.” In a Telegram post on Oct. 23, TON Community said that 1.3 billion TONs (valued nearly $3 billion) have been put in the Locker smart contract. “The result demonstrates the long-term commitment many contributors have to the Toncoin project.” TON Community What is TON Believers fund Supported by the TON Foundation, the TON Believers Fund is a non-profit initiative launched in July 2023 as a smart contract on the TON blockchain. The idea behind the fund is that early-stage large investors and inactive early miners voluntarily lock their TON coins for two years, with an additional three years remaining for vesting, a process of gradual release of tokens over a specific period. Locker wallet address | TON Explorer With coins being locked up for five years, the TON ecosystem reduces the circulating supply to support TON’s price performance. To incentivize participants, the Locker contract will distribute a 7% reward similar in its mechanics to staking between depositors. The TON Foundation wrote on a proposal page that the initiative might eventually bring certainty to Toncoin tokenomics and demonstrate the commitment of large holders to the community. Amid the news, TON price jumped by almost 4%, surging up to $2.2, according to data from CoinMarketCap. Follow Us on Google News Source: https://crypto.news/ton-locks-up-25-of-token-supply-to-make-tokenomics-predictable/

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Filed under: News - @ October 24, 2023 10:16 pm