Binance Exchange Announces the Launch of TON Perpetual Contracts
Binance Exchange recently announced that it will launch TON 1-50x U perpetual contracts at 20:30 today (1st) Taipei Time. Encouraged by this news, the price of TON increased by more than 10% within three hours.
(Background Information:
TON receives multi-million-dollar financing from MEXC Ventures, driving Telegram to become a “Web3 super app.”
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(Background Supplement:
Backed by Telegram’s 800 million users, will TON’s ecosystem be a flash in the pan or continue to thrive?
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TON (The Open Network), a public chain project launched by Telegram, one of the most popular social applications with over 800 million users worldwide, has a large potential user base. Following the announcement by founder and CEO Pavel Durov on the 28th that TON will support 50% ad revenue sharing (expected to be launched in March), TON’s price surged by 40% in a short period of time.
In the afternoon of today (1st), Binance Exchange also announced that it will launch TON 1-50x U perpetual contracts at 20:30 on March 1st (Taipei Time), providing users with more diversified contract trading options. Encouraged by this news, the price of TON continued to rise from $2.48 and reached $2.728 before the deadline, with an increase of over 10% within three hours.
Telegram Groups to Introduce 9 New Features
Earlier today, Telegram founder Pavel Durov also announced that groups will soon release 9 new features, including:
– Groups can publish stories and save them as posts on personal profile pages.
– Users can set unique wallpapers and statuses.
– Users can customize the appearance, including the color and logo or link style of the group profile cover.
– Voice-to-text feature for enhanced accessible communication, and more.
Telegram stated that due to restrictions from the App Store, some features have been delayed and will be introduced in future updates. However, it guarantees that these features will be launched in the March update, bringing users a more comprehensive communication experience. For complete details, please refer to the official full explanation.
Telegram offers two types of functionality: “Channels” and “Groups.” “Groups” are similar to LINE groups, where members can communicate and discuss with each other, while “Channels” are more like official LINE accounts and serve as channels for enterprises to release new information.
TON Development History
The story began in 2018 when Telegram wanted to issue its own cryptocurrency. They established the Telegram Open Network (TON) project and raised $1.7 billion through an initial coin offering (ICO). At that time, the token was called $GRAM. However, in October 2019, the project was accused of illegal fundraising by the U.S. SEC. Therefore, in May 2020, Telegram founder Pavel Durov publicly announced the abandonment of the TON blockchain project and was fined $18.5 million by the SEC.
After Telegram gave up the project, it was taken over by a developer community called newTON and continued to be developed (renamed TON Foundation in May 2021). The project transformed from Telegram Open Network to The Open Network, with the token being TON. Subsequently, in November 2021, the project went public, and Telegram’s founder openly supported the TON project.
In April 2022, TON Foundation announced the establishment of a $250 million ecosystem fund called the “TONcoin Fund,” which received investments from exchanges and institutions such as Huobi, KuCoin, MEXC, 3Commas Capital, TON Miners, and Kilo Funds.
Recently, TON has launched a series of ecosystem growth plans, including DeFi liquidity incentives, Hack-a-TON hackathons, TON Workshops, etc. In late February, it started the “TON DEV Journey” event spanning three months, attracting top developers from around the world to join and making TON a rapidly developing and vibrant ecosystem.
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