The TON Foundation team declared the opening of an incentive scheme aimed at encouraging collaboration with Tether.
According to a recent post, 11 million Toncoin (TON) have been allocated to reward early USDT users in the TON network. The goal of the campaign is to promote the stablecoin’s internet adoption. TON Foundation announcement:
“USDt on TON will be accompanied by fully integrated on-ramps from most fiat currencies globally at launch. Soon, integrated global off-ramps will enable users to withdraw supported fiat currencies directly to bank cards”
Thanks to integrated worldwide off-ramps, users can soon withdraw supported fiat currencies straight to bank cards. According to the TON Foundation team, five million TON will be allotted to boost rewards in the liquidity pools of the decentralized platforms STON.fi and DeDust.
Five million more tokens will be given to users using USDT to participate in the Earn campaign on the Wallet. To guarantee the free withdrawal of assets through centralized TON partner exchanges, 1.2 million Toncoin tokens will be distributed.
Any blockchain-based asset, including USDT, can be bought by users and transferred to TON commission-free. Toncoin’s price dropped to $6.43 per coin at the time of writing, from $7.21 earlier in the day, according to CoinMarketCap.
It is valued at $22.3 billion on the market. Following Telegram Founder Pavel Durov’s announcement that the messenger could tokenize stickers, TON saw a sharp decline today. Using the TON blockchain, sticker creators will get 95% of the proceeds from sales.
