The Toncoin (TON) has captured the attention of investors with a remarkable 10% surge in its price today, Amid distribution announcement.
Investors are intrigued by the notable 10% increase in the price of the Toncoin (TON) today, which coincides with the disclosure of a significant distribution strategy. The Ton Foundation declared its intention for its Open League initiative to disseminate Toncoin worth $115 million in April.
Significantly, this astute maneuver has generated expectancy and increased attention regarding the future course of Toncoin.
The Ton Foundation to Allocate $115 Million
Toncoin (TON) aficionados observed a remarkable appreciation in the cryptocurrency’s value, which surged by approximately 10% in anticipation of the distribution of TON worth $115 million. In a recent blog post, The Ton Foundation detailed preparations for The Open League Season 1, which is scheduled to begin on April 1.
As per the foundation’s findings, the Open League pilot season witnessed noteworthy expansion indicators, such as a substantial 373 percent surge in daily active purses and a 70% increase in Total Value Locked (TVL).
Expanding upon this achievement, the Ton Foundation endeavors to intensify community involvement and involvement by allocating 30 million TON in rewards, equivalent to $115 million.
In the interim, the Open League initiative comprises four fundamental systems intended to motivate and compensate diverse sectors of the Ton community.
The systems above, namely “Liquidity Pool Boosts,” The League,” “Token Mining,” “Quests & Airdrops,” and “Liquidity Pool Boosts,” are designed to accommodate distinct user personas that are present within the Telegram community.
The League, which provides community members and developers with a $5 million Toncoin prize pool, promotes innovation and competition within the Ton ecosystem.
The Web3 projects that participate in The League contend for the highest rankings. Those projects that succeed are granted the chance to either reinvest in their projects or distribute the profits among their communities.
Conversely, Token Mining provides an uncomplicated system through which inexperienced users can accumulate rewards by executing project-specific tasks and referral initiatives.
This framework, illustrated by initiatives such as Pixels and Notcoin, seeks to enhance user engagement and acquisition while minimizing substantial marketing investments.
Furthermore, “Degen Dabblers” can partake in Quests & Airdrops, where they can acquire Soul Bound Tokens by completing on-chain activities and participating in periodic airdrops. Significantly, the reward pool for the airdrop and quests will be $22 million in Toncoin.
Conversely, the Liquidity Pool Boosts reward seasoned users with an estimated $40 million TON. These rewards incentivize users to contribute liquidity to designated pools, thus strengthening the Toncoin ecosystem.
At the time of writing, the price of Toncoin had increased by 9.67% to $4.26, while its trading volume had decreased by 6% to $179.36 million. Notably, the price of TON has increased by nearly 90% over the past thirty days, albeit by approximately 1% over the past week.
