u.today
In a significant move to address concerns about the concentration of Toncoin ($TON), Pavel Durov, the creator of Telegram, revealed a strategy to maintain the decentralization and stability of the $TON ecosystem. Following the recent surge in $TON's price, Durov took to his Telegram channel once again to allay fears raised by some community members regarding the messenger's potential dominance in $TON holdings.
In his message, Durov assured the community that Telegram recognizes the importance of a decentralized ecosystem and is committed to ensuring a fair distribution of $TON. To achieve this, he announced plans to limit Telegram's share of Toncoin to approximately 10% of the total supply. This decision involves selling the surplus holdings to long-term investors at a discounted rate, with a lockup and vesting plan spanning one to four years.
Long-term holding
Furthermore, Durov emphasized the importance of engaging with potential investors in a transparent and organized manner. To facilitate this process, Telegram has established a dedicated email address for large investors, those willing to invest $1 million or more, to express their interest in purchasing $TON.
This proactive approach aims to increase the participation of long-term holders in the $TON ecosystem, thereby promoting stability and reducing volatility. By locking up free-floating Toncoin, Telegram seeks to prevent any undue influence on the market while fostering a decentralized environment conducive to growth and innovation.
By addressing concerns about $TON concentration and implementing measures to uphold decentralization, Durov aims to instill confidence in the integrity and long-term viability of the The Open Network ecosystem.