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- TON jumps by 8.97% to $4.17 in 24 hours, countering a week-long 7.0% loss.
- The TON Foundation initiates The Open League with a $115 million reward pool to foster community engagement.
- The Open League’s trial boosts network activity, with a 70% surge in decentralized exchange value and a 370% rise in daily active wallets.
Toncoin (TON) has defied recent downward trends, exhibiting a noteworthy surge of 8.97% within a mere 24-hour period. This remarkable uptick in value positions TON at $4.17, marking a stark contrast to its previous week’s trajectory, which saw a notable 7.0% decline.
Amidst this price resurgence, the TON Foundation, a pivotal entity overseeing The Open Network blockchain, has unveiled a groundbreaking community initiative: The Open League. This ambitious project boasts a substantial reward pool exceeding $115 million, aimed at fostering heightened participation and engagement within the burgeoning TON ecosystem.
The initiative comes as a proactive measure to galvanize community involvement and support, offering a diverse array of incentives to incentivize contributions and collaborations. The inception of The Open League follows a successful pilot phase, during which the foundation allocated significant Toncoin reserves to bolster liquidity support and reward deserving contributors.
Notably, this trial phase witnessed a considerable surge in network activity, evidenced by a 70% increase in the total value locked on decentralized exchanges and an impressive 370% rise in daily active wallets.
As part of The Open League’s framework, TON-based projects are set to compete for a share of the substantial Toncoin rewards, while individual users can actively participate and contribute to these projects to claim their stake in the reward pool. Additionally, the initiative will employ various mechanisms such as airdrops, on-chain tasks, and enhanced liquidity pool rewards to ensure equitable distribution of funds and foster sustained growth and innovation within the TON ecosystem.