• Telegram CEO Pavel Durov stated Toncoin (TON), the native token of The Open Community, will likely be renamed Gram inside roughly three weeks, reviving the title from TON’s unique 2018 white paper.
  • The change is the fourth step in Durov’s seven-part “Make TON Nice Once more” plan, beneath which Telegram has displaced the TON Basis because the community’s major steward and turn out to be its largest validator.
  • TON jumped greater than 13% to about US$2.12 on the information, restoring a token title Telegram deserted in 2020 after returning US$1.22 billion to traders and paying an US$18.5 million SEC penalty.

Telegram chief govt Pavel Durov stated Monday that Toncoin will likely be renamed Gram inside about three weeks, reviving the token’s unique white-paper identification and finishing the corporate’s takeover of a blockchain it was pressured to desert beneath US regulatory stress six years in the past.

In a publish to his Telegram channel, Durov framed the change as a homecoming. “Gram was the unique title of TON’s forex within the first white paper,” he acknowledged. “We’re returning to our roots—and beginning a brand new chapter. This rebranding will pave the way in which for what comes subsequent.”

Mainly, The Open Community retains its title, token balances, staking positions and smart-contract capabilities keep unchanged, and holders needn’t carry out a token swap to obtain Gram. 

TON climbed over 13% to about US$2.12 (AU$2.97) inside a day of the announcement, up roughly 58% over the prior month however nonetheless about 74% under its 2024 peak of US$8.25 (AU$11.55).

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Telegram Tightens Its Grip

The rebrand is the fourth step in a seven-part roadmap Durov has branded “Make TON Nice Once more.” Earlier steps minimize transaction charges roughly sixfold, accelerated block occasions from about 2.5 seconds to 400 milliseconds by an April improve, and, on Might 4, put in Telegram because the community’s largest validator instead of the Switzerland-based TON Basis.

Durov stated the inspiration would cede its position because the community’s major steward to Telegram, anchoring the blockchain to the messaging app’s billion-user base. The inspiration stays a secondary entity, with a pending US$400 million (AU$560 million) non-public financing spherical.

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The publish Telegram Brings Crypto Full Circle, Rebranding Toncoin Back to Gram appeared first on Crypto News Australia.