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Telegram limits $TON holdings to 10% to address concerns over concentration while preparing to launch financial rewards for channel owners.
Cloud-based messenger Telegram will cap its Toncoin ($TON) holdings at 10% to address recent concerns regarding the potential concentration of the tokens within its ecosystem.
In a post on Feb. 29, Telegram co-founder Pavel Durov acknowledged the community’s worries about the company holding “an unhealthy share of Toncoin” due to advertisement sales made exclusively for $TON. To mitigate concentration risks, Telegram plans to sell its surplus $TON holdings to long-term investors at a discounted rate, under a lockup and vesting plan ranging from one to four years.
“This way free-floating $TON will get locked up, stabilizing the ecosystem and reducing volatility.” Pavel Durov
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Recognizing the interest of potential investors, Telegram has established a streamlined process for $TON sales through a dedicated email address, catering specifically to large investors with investments totaling $1 million or more, the Telegram co-founder added.
The latest announcement follows Telegram’s recent initiative to split ad revenue with broadcast channel creators, incentivizing community building and in-app content sharing. The $TON blockchain will serve as the exclusive payment rail for ad revenue sharing, Durov explained. After the news broke, the price of $TON surged by over 50% according to CoinMarketCap data.
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