Gram (prev. Toncoin)

Gram is the native token of The Open Network (TON), a Layer 1 blockchain originally designed by Telegram before the community took over development. TON aims for massive scalability using a sharded architecture, targeting fast, low-cost transactions for payments, apps and tokenized assets. Its tight integration with Telegram, including in-app wallets and mini-apps, gives it a distribution channel to a very large existing user base.

TON is a proof-of-stake network where validators stake Gram to secure the chain and earn rewards. Its dynamic sharding splits the workload across many chains to scale throughput as demand rises, aiming for high transactions per second and cheap fees. Gram is used for gas, staking, governance and payments across Telegram-integrated services. Supply includes ongoing staking issuance, and large early-mined balances influence circulating dynamics.

Gram's price is heavily tied to Telegram-driven adoption: wallet activation, mini-app usage, in-app payments and advertising settlement can all create token demand. Staking locks up supply and offers yield, while network upgrades and new dApps add utility. On the supply side, staking emissions and unlocks of concentrated early holdings can weigh on price. Regulatory clarity around Telegram's involvement is a notable swing factor.

Gram's fortunes are closely linked to Telegram, creating concentration and regulatory risk given the project's prior legal history with securities regulators. Token supply is concentrated among early participants, raising sell-pressure concerns. Adoption of on-chain features by Telegram users is not guaranteed, and competition from other Layer 1s is intense. High volatility and shifting messaging-app policy add further uncertainty.