What is Toncoin (TON)?
Toncoin (TON) fact sheet with live price · reviewed November 4, 2026
Toncoin (TON) is the coin of The Open Network, a blockchain first designed by Telegram's founders. Telegram dropped the project in 2020 after a US SEC lawsuit and the community relaunched it, but Telegram is closely tied to it again: TON powers the wallet and payments built into the Telegram app, and in 2026 Telegram took over from the TON Foundation as its main driver.
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Key facts
| Launched | Designed by Telegram 2018; community mainnet 2020 |
|---|---|
| Created by | Nikolai and Pavel Durov (Telegram); continued by the community and TON Foundation |
| How it's secured | Proof of stake |
| Supply | About 5 billion TON at launch, plus small yearly issuance to validators; half of fees are burned |
| Design | A main chain plus "workchains" that split into shards as load grows |
| Built into | The Telegram app (wallet, mini-apps, ads, usernames) |
Who runs it
Validators stake TON to secure the network. Until 2026 the Switzerland-based TON Foundation coordinated development. In May 2026 Pavel Durov announced that Telegram would replace the TON Foundation as the driving force behind TON and become its largest validator.
What it's used for
Payments and tipping inside Telegram, Telegram mini-apps and games (which must use TON for blockchain features), buying Telegram ads and collectible usernames, and sending USDT on TON.
How it works
A masterchain keeps the overall state, while workchains do the processing and split into more shards when busy, so the network can scale. Validators are chosen by stake and earn fees and new TON.
Telegram, the SEC and the relaunch
Telegram raised $1.7 billion for the project in 2018. In 2020 the SEC won an injunction saying the sale was an unregistered securities offering; Telegram agreed to return $1.2 billion to investors, pay an $18.5 million penalty and abandon the project. Independent developers relaunched it as The Open Network.
Where things stand (November 2026)
In May 2026 Telegram took direct control of TON's development and became its largest validator, and fees fell about sixfold. That ties TON more closely to one company's decisions.
Risks to know
- TON depends heavily on Telegram, a single company, and its founder.
- Early miners and large holders control a large share of supply.
- The network had outages in 2024 during heavy demand.
- Telegram is full of scams: fake TON giveaways, "support" bots and investment groups. No real support will ask for your recovery phrase.
- Price is volatile.
Buying and storing it
If you decide to buy, use a regulated exchange you reach directly, check fees with the true cost calculator, and store long-term holdings in a wallet you control, with the seed phrase written down offline. Read how to buy crypto safely. This page isn't a recommendation to buy.
Questions
Is TON owned by Telegram?
Telegram dropped it in 2020, but since May 2026 Telegram leads its development and is its largest validator.
Is Toncoin the same as TON?
Yes. The Open Network is the blockchain; Toncoin (TON) is its coin.
How do I get TON in Telegram?
Telegram has a built-in wallet; you can also use self-custody TON wallets. Never trust bots or DMs offering to send or 'double' TON.
Where to next
Sources
- TON documentation (ton.org)
- SEC halts Telegram's unregistered offering; Telegram to return $1.2 billion (SEC, 2020)
- Telegram's takeover of TON network (Invezz, May 2026)
- TON back online after outage (Cointelegraph)
Facts checked against the sources listed, as of November 4, 2026. Live price data by CoinGecko. Educational only; not financial advice. How we write and check pages.