Toncoin Surges 10% Amid $115M TON Distribution News

Toncoin (TON) surged 10% today after the Ton Foundation unveiled a $115 million distribution plan via its Open League program.

The Toncoin (TON) has attracted investor attention with its impressive 10% price increase today, coinciding with the introduction of a significant distribution plan.

Through its Open League program, the Ton Foundation announced it would give away $115 million worth of Toncoin in April.

Toncoin Price Surges 10%

Notably, this calculated move has raised hopes and curiosity about Toncoin’s future course. Investors in Toncoin (TON) witnessed a significant surge in their cryptocurrency’s value, rising by approximately 10% following the announcement of a $115 million distribution.

The Ton Foundation recently announced their plans for The Open League Season 1, set to begin on April 1, on their blog.

The foundation reports notable growth numbers from the Open League pilot season, including a startling 370% increase in daily active wallets and a 70% increase in Total Value Locked (TVL).

Building on this achievement, the Ton Foundation wants to give away 30 million tons, or $115 million, in prizes to intensify community involvement and engagement.

Meanwhile, the Open League project consists of four main mechanisms intended to reward and encourage different groups within the Ton community.

The League, Token Mining, Quests & Airdrops, Liquidity Pool Boosts, and other systems serve distinct user profiles within the Telegram community.

Targeting developers and community members, the League offers a $5 million Toncoin prize pool, encouraging innovation and competitiveness within the Ton ecosystem.

The League pits Web3 projects against one another for top rankings. The winners can reinvest their winnings into their projects or share prizes among their communities.

Token mining, on the other hand, provides new users with an easy way to earn incentives through project-specific activities and referral schemes.

This methodology seeks to increase user acquisition and engagement without incurring significant marketing costs, as demonstrated by initiatives like Notcoin and Pixels.

Furthermore, the “Degen Dabblers” have access to quests and airdrops, where they can participate in recurring airdrops and earn Soul Bound Tokens by completing on-chain tasks.

Notably, there will be a $22 million Toncoin prize pool for the missions and airdrop. On the other hand, the Liquidity Pool Boosts cater to experienced users and provide rewards of approximately $40 million TON.

Toncoin’s ecosystem benefits from these increased incentives for adding liquidity to specific pools. As of this writing, the price of Toncoin has increased by 9.67% to $4.26, while its trading volume has decreased by 6% to $179.36 million.

Notably, the cost of TON has risen by around 90% in the last 30 days, after declining by almost 1% in the previous week.