Open the Binance Official Website rankings, and you'll see that TON (Telegram Open Network) quickly surged into the top 15 by market capitalization in 2024. It is recommended to install the Binance Official App and check its K-line—from early 2024, it rose from $2 to as high as $8. A: TON originated from an official blockchain project launched in 2018 by Telegram, the global instant messaging giant with over 900 million monthly active users. Although Telegram officially abandoned the project in 2020 due to SEC intervention, community developers took over and renamed it "The Open Network" in 2021. Since 2023, Telegram has officially returned to the TON ecosystem—TON is now the officially recommended blockchain for Telegram's built-in wallet, Mini Apps payments, and Stars top-ups.
The History of TON / Telegram Open Network
A: Telegram launched TON in 2018, abandoned it in 2020 following an SEC lawsuit, and community developers took over in 2021. In 2023, Telegram officially returned to cooperate with the ecosystem.
Full Timeline:
- Early 2018: Telegram founder Pavel Durov released the TON whitepaper, planning a "global decentralized communication and payment platform." The private sale raised $1.7 billion, the largest ICO in crypto history at the time.
- October 2019: The SEC sued Telegram, ruling that the sale of GRAM (the original token name for TON) violated U.S. securities laws.
- May 2020: After a seven-month legal battle, Pavel Durov announced the termination of the TON project, stating that "U.S. law allows the SEC to prevent developers from giving TON to users worldwide."
- June 2020 onwards: The original TON code was released as open-source. A team of community developers called NewTON (later renamed the TON Foundation) took over development.
- 2021: The project was renamed "The Open Network," keeping the TON abbreviation. The token was renamed Toncoin.
- September 2023: Pavel Durov posted on his Telegram channel, officially announcing Telegram's return to the TON ecosystem. The built-in Telegram wallet (@wallet bot) became TON-based by default.
- 2024 onwards: TON entered a period of explosive growth. Telegram Mini Apps like Notcoin and Hamster Kombat triggered viral adoption, with the number of active on-chain addresses exceeding 10 million.
The relationship between Telegram and the TON Foundation is not a "parent-subsidiary" one—TON is an independent decentralized network, and the TON Foundation is a community organization. However, Telegram coordinates deeply with TON in terms of product integration and traffic entry points. This "semi-official" relationship is TON's greatest unique advantage.
Key Parameters of TON / Telegram Open Network
| Item | Value / Description |
|---|---|
| Mainnet Launch | 2021 (Restarted by the community) |
| Consensus Mechanism | BFT-PoS (Byzantine Fault Tolerant Proof of Stake) |
| Block Time | Approx. 5 seconds |
| TPS (Theoretical) | 100,000+ (Multi-chain sharding design) |
| TPS (Tested Peak) | Several thousands |
| Total Supply | 5 billion + annual inflation of approx. 0.6%-2% |
| Current Circulating Supply | Approx. 3.5 billion |
| Smart Contract Language | Func, Tact, Fift (Unique, non-EVM) |
| Number of Validators | Approx. 350+ |
| All-Time High | Nearly $8 (in 2024) |
| All-Time Low | Approx. $0.5 (2020-2021 bear market) |
| Binance Trading Pairs | TON/USDT, TON/USDC, TON/BTC, etc. |
| On-chain Active Addresses | 10 million+ (2024 peak) |
| Telegram Integration | Built-in Wallet, Mini Apps, Stars top-up |
The two most notable rows: Non-EVM smart contracts + Telegram integration.
Non-EVM is TON's biggest technical controversy—it uses its own Func/Tact languages, meaning developers must relearn everything. This slowed down migration from Ethereum, but the TON team believes this "native design" is superior for long-term performance.
Telegram integration is TON's strongest moat. With over 900 million monthly active users, Telegram is one of the largest messaging apps alongside WhatsApp and WeChat. TON is the only blockchain deeply embedded into this super-app.
What are Telegram Mini Apps?
A: Telegram Mini Apps are lightweight applications that run directly inside Telegram, similar to WeChat Mini Programs. Viral 2024 hits like Notcoin and Hamster Kombat are all built on the TON ecosystem.
The core appeal of Mini Apps is zero download friction. Users enter the app by clicking a link within Telegram—no App Store download, no new account registration, and no new interface to learn. Combined with Telegram's 900 million users, the cost of acquiring new users is extremely low.
Representative Cases:
- Notcoin: A "tap-to-earn" game launched in early 2024. Users earn NOT tokens by tapping the screen in a Telegram Mini App. it reached 35 million players in 3 months, with a peak market cap of $3 billion after its TGE on Binance.
- Hamster Kombat: Another tapping game launched in April 2024. It reached 200 million players in 8 weeks, making it the "fastest app to reach 100 million users in history."
- Catizen: A comprehensive Mini App combining gaming, social features, and memes, surpassing 10 million users in 2024.
- DOGS: A token airdrop based on the early dog avatar meme of Telegram founder Pavel Durov.
The economic significance of Mini Apps is converting the "attention" of 900 million Telegram users into crypto asset users. Every Mini App user creates at least one TON wallet and experiences on-chain transfers at least once. This user growth rate is something other public chains can only dream of.
TON / Telegram Open Network vs. Other Major Blockchains
| Comparison Item | TON / Telegram Open Network | ETH / Ethereum | SOL / Solana |
|---|---|---|---|
| Launch Time | 2021 (Community version) | 2015 | 2020 |
| TPS (Actual) | Thousands | Mainnet 15-30 | 4,000-7,000 |
| Finality | Approx. 5 seconds | 12 minutes | 13 seconds |
| Smart Contract Language | Func / Tact (Unique) | Solidity | Rust |
| EVM Compatibility | Incompatible | Native | Incompatible |
| Primary User Source | Telegram 900M MAU | Ethereum wallet users | DEX, Meme traders |
| Primary Applications | Telegram Mini Apps, Payments | DeFi, NFT, Stablecoins | DEX, Meme, Payments |
| Developer Count | Thousands (Growing fast) | Tens of thousands | Thousands |
| Validator Count | 350+ | 1 million+ | 1,500 |
The differentiation of TON is clear—leveraging a super-app to acquire users, rather than competing directly with ETH or SOL in the DeFi track. This is a smart strategy.
Trading TON / Telegram Open Network on Binance
A: You can buy TON/USDT directly on the spot market with a minimum of 5 USDT. It also supports Earn Flexible staking with an APR of approx. 3%-5%.
Specific Steps:
- Complete KYC; refer to About BabiaHub
- Buy USDT via P2P
- Search for TON/USDT in the spot market and buy via market or limit order
- To stake, go to Earn → Search for TON
When withdrawing, primarily use the TON mainnet. Note that when transferring on the TON chain, in addition to gas fees, the address needs to be "activated"—a first-time receiving address requires at least 0.1 TON to function normally. If you withdraw a small amount, it might not show up in the recipient's wallet until they deposit to activate it.
If you haven't installed the app, see the iOS Installation Tutorial.
Risks of TON / Telegram Open Network
A: Unstable official relationship with Telegram, Pavel Durov's legal risks, non-EVM technology, and the short-term hype of Mini Apps—four unique risks.
First, Unstable official relationship. TON is not a Telegram subsidiary. Theoretically, Telegram could withdraw its support at any time. If Pavel Durov changes his mind (e.g., due to renewed SEC pressure), losing Telegram integration would severely impact TON's value.
Second, Pavel Durov's legal risks. In August 2024, Pavel Durov was arrested in France on allegations related to criminal activities on Telegram (drugs, money laundering, etc.) and a lack of cooperation with law enforcement. This event caused TON to plunge over 20% in the short term. If he faces long-term legal issues or if Telegram is forced into major regulatory changes, TON will suffer.
Third, Non-EVM technology. TON uses its own contract languages, creating a high barrier for developer migration. This means DeFi protocols (like Aave or Compound) cannot be easily ported to TON, making TON's DeFi ecosystem much less rich than Ethereum's.
Fourth, Short-term Mini App hype. While tap-to-earn apps like Notcoin and Hamster Kombat have high user numbers, their retention and conversion rates are very low. If the Mini App craze fades, on-chain activity on TON could drop sharply.
Fifth, Token unlocks. Tokens for early investors and the team are scheduled for release, which creates selling pressure on the price.
Sixth, Crypto assets have no guaranteed principal and may go to zero. See the Disclaimer for details.
Who is TON / Telegram Open Network Suitable For?
A: People who believe in the long-term growth of the Telegram ecosystem, those looking to capitalize on the Mini App dividend, and portfolio holders willing to allocate 5%-10% to a "user-centric public chain."
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Telegram Bulls: If you believe Telegram will replace WhatsApp and become the dominant social platform in the West, TON is a direct beneficiary asset.
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Mini App Hunters: If you are willing to spend time researching the latest Mini App airdrops (Notcoin, Hamster, Catizen, etc.), the opportunities for "farming" on TON are more abundant than on other chains.
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Portfolio Diversifiers: Treating TON as a "user-centric chain" and allocating 5%-10% provides a differentiated asset compared to ETH (DeFi-centric) or SOL (speed-centric).
Not Suitable For: Pure DeFi players. TON's DeFi ecosystem currently only has a few protocols like STON.fi and DeDust, with a TVL scale far smaller than Ethereum or Solana.
FAQ
Q: What is the relationship between TON and Telegram? A: Telegram officially abandoned the TON project in 2020 and began cooperating again in 2023, though it does not directly control TON. The integration is a product-level partnership, not corporate ownership.
Q: Can I buy TON directly within Telegram? A: Yes. The built-in @wallet bot in Telegram supports P2P buying. However, liquidity and prices are usually not as good as major exchanges like Binance.
Q: Is Notcoin still worth playing? A: The early airdrop phase for Notcoin has ended. It is now primarily traded on the secondary market. Notcoin saw massive gains after listing but has also corrected significantly. Please refer to real-time Binance data for the current market situation.
Q: What is the all-time high of TON? A: It approached $8 in mid-2024. After Pavel Durov's arrest, it dropped to the $4-$5 range. Please refer to real-time Binance data for the current market situation.
Q: Are Mini App airdrops on Telegram reliable? A: Top-tier projects like Notcoin, Hamster Kombat, and Catizen have indeed distributed real airdrops. However, the Mini App space is a mixed bag—be wary of fraudulent projects trying to trick you into authorizing your wallet.
Q: Is TON suitable for long-term holding? A: This depends on the long-term evolution of the Telegram ecosystem. If Telegram continues to grow and Mini Apps stay prosperous, TON has solid long-term value support. If Telegram faces regulatory hurdles or if something happens to Pavel Durov, the risk is high.
This article does not constitute investment advice.