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Toncoin is the principal cryptocurrency of the TON (The Open Network) Blockchain, and in particular of its masterchain and basic workchain.


Toncoin (or TON coin) is the principal cryptocurrency of the TON (The Open Network) Blockchain, and in particular of its masterchain and basic workchain. It is used to make deposits required to become a validator; transaction fees, gas payments (i.e., smart-contract message processing fees) and persistent storage payments are also usually collected in Toncoins.

Original supply and inflation

The total supply of Toncoins is originally limited to 5 Gigatons (i.e., five billion Toncoins)

This supply slowly increase, as rewards to validators for mining new masterchain and shardchain blocks accumulate. Expected inflation rate of 2% per year, will double the total supply of TON coins (to ten Gigatons) in 35 years.

Subdivision and terminology.

A Toncoin is subdivided into one billion (109) smaller units, called nanotons, ntons or simply nanos. All transfers and account balances are expressed as non-negative integer multiples of nanos.

Approved wallets

Tonkeeper (for mobile devices) and Toncoin Wallet (Windows, MacOS, Linux) are the two wallets supported by TON Foundation.


When testnet2 later renamed as Mainnet was launched, 5bn coins were generated with a small fraction (1.45% of the total supply) distributed between testers and developers.

After the court ruling prohibiting Gram, the Telegram team gave up TON blockchain development with the most part of testnet2 coins (98.55% of the total supply) transferred to Proof-of-Work Giver smart contracts. So, mining coins is only possible through calling these smart contracts which takes a solid computation capacity.

At the point when testnet2 was renamed as Mainnet coins had already been organically distributed between a large number of various users. The price was determined by the cost of mining hardware.

First listing 9th August 2021 on EXMO.

Usecases for Toncoin
  • Commission («gas») paid for processing transactions and smart contracts
  • Cross-chain transactions commission in The Open Network
  • Payment for services provided by apps built on the platform (TON Services)
  • Payment for storing data securely in a decentralized way (TON Storage)
  • Payment for registering blockchain-based domain names (TON DNS) and hosting TON-sites (TON WWW)
  • Payment for TON Proxy
  • Payment for creating extra currencies
  • Payment for creating new workchains
  • Stakes deposited by validators to be eligible to validate transactions and generate new blocks and coins
  • Capital lent out to validators in exchange for a share of their reward
  • Voting power required to support or oppose changes in the parameters of the protocol

Transfer between networks

At the beginning of 2022 there are two kind of wrapped Toncoins:

Wrapped TONCOIN in Ethereumnet and Wrapped TONCOIN in Binance Smart Chain.

There is the Disdecentralized Bridge to transfer Toncoins between networks.

TON-Ethereum and TON-Binance Smart Chain bridges resemble a small PoS-blockchain. Like validator nodes, bridging oracles have stakes that guarantee their fair operations and are rewarded by transfer fees. A user sends their Toncoins to an ad hoc smart contract in the network. These coins get locked on the smart contract. Another ad hoc smart contract in Ethereum mints the same amount of ERC20 TONCOINS. The Ethereum smart contract forwards newly generated TONCOINS to a user wallet.

1 Wrapped TONCOIN = 1 native Toncoin. (Bridge fee - 5 TON + 0.25% of amount).

Toncoin mining

At the beginning of 2022, there is the possibility of mining Toncoin through a special giver smartcontracts. Toncoins are distributing via smartcontracts which use Proof-of-Work mechanism. That way by checking proofs of estimate how much computational power is used for coin extraction.

Toncoin based on Proof-of-Work consensus but the developers decided use Proof-of-Work for mining of initial issue of 5bn Toncoins was transferred to ad hoc Proof-of-Work Giver smart contracts. Mining is used to obtain Toncoins from this smart contract. PoW Giver contracts have their limits and will dry out once users mine all available Toncoins.

Toncoin staking

TON Nominators services allows lending stakes to owners of validator node.

A Toncoins holder can lend coins to a hardware owner to enable the latter to start a validator node. The profit from validation will be shared between the parties. The service smart-contract guarantees that the borrowed coins will only be used for validation and the revenues will be shared according to the agreed-upon conditions. At the beginning of 2022, these services work through special Telegram Bot.



Further reading


Andrew Rogozov, Former Exec at VK, the 'Facebook of Russia,' Joins Telegram's Spin-Off Blockchain Project

Anna Baydakova


January 21, 2022

Explaining post by Anatoly Makosov(part 1)

Anatoly Makosov


November 17, 2021

Explaining post by Anatoly Makosov(part 2)

Anatoly Makosov


November 19, 2021

Telegram CEO Endorses TON Blockchain Spin-Off Toncoin

Anna Baydakova


December 23, 2021

Telegram передал TON в руки сообществу: какому именно, что это значит и к чему может привести

Кирилл Сергеев


August 11, 2021

Documentaries, videos and podcasts


Telegram CEO Endorses TON Blockchain Spin-Off Toncoin

December 23, 2021

Telegram Open Network (TON): What Happened To Telegram's Gram Cryptocurrency? | Blockchain Central

January 7, 2020

TON - The Open Network

November 3, 2021

TONCoin is still alive? Which TON is real?

November 28, 2021


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