The Open Network Rebrands Toncoin to Gram, Reviving Original Cryptocurrency Name
- The Open Network plans to rebrand its Toncoin (TON) token to Gram (GRAM), the name from its original white paper.
- Pavel Durov announced the change, stating it will take approximately three weeks and that there will be no migration or conversion of balances.
- As of now, around 1.8 million TON tokens, nearly 80%, have been voted in favor of the rebranding.
- This rebrand is part of a larger “Make TON Great Again” roadmap aimed at enhancing user experience on Telegram.
- Following the announcement, TON’s price surged over 15%, reaching $2.25 before settling at $2.07 by Tuesday morning.
The rebranding effort comes after Telegram took control of the network in May and aims to create a Web3 super app for its billion users, integrating payments and digital ownership features within Telegram.
Currently, TON is down approximately 75% from its all-time high of $8.25 reached in June.(Source)
