Durov Proposes Solution to Preserve TON’s Decentralization

Following the announcement to sell advertising on Telegram using the cryptocurrency Toncoin, users expressed concerns that the messenger might begin to control a significant portion of the coin’s issuance. Pavel Durov proposed a solution to the issue. 

According to him, the Telegram team will be limited to owning about 10% of the total token supply. Any excess will be sold to long-term investors — “in accordance with a lock-up and vesting plan of one to four years, but at a discount to the market price.” 

“Thus, the freely floating TON will be locked up, which will stabilize the ecosystem and reduce volatility,” wrote the messenger’s founder. 

He also announced that he is ready to consider applications from large investors (over $1 million) interested in purchasing the coin.

At the time of writing, the price of TON is $2.62, according to CoinGecko.

In March, Telegram plans to distribute up to 50% of the revenue earned from advertising in user channels back to the users.

Earlier, ForkLog in a special report examined how decentralized the TON network is and who controls the majority of mined tokens.