TON (The Open Network) is a proof-of-stake Layer 1 blockchain for smart contracts, tokens, and applications. TON is the name of the network; its native coin is now Gram (GRAM), renamed from Toncoin (TON) on June 15, 2026. The project’s official announcement described the change as a name, ticker, and logo update to the existing coin, with the blockchain and balances unchanged and no swap or migration required.
| Stat | Value |
|---|---|
| Network | The Open Network (TON) |
| Native coin | Gram (GRAM), formerly Toncoin (TON) |
| Ticker | GRAM |
| Price (USD) | $1.35 |
| Market cap | $3.81B |
| 24-hour change | -0.63% |
CoinGecko market snapshot checked 2026-10-18 23:00 UTC; price, market cap, and 24-hour change refresh automatically and can change at any time.
From Telegram’s Original Project to The Open Network
Telegram began developing a blockchain called Telegram Open Network in 2018 and planned a native cryptocurrency called Gram. The U.S. Securities and Exchange Commission challenged Telegram’s token offering in 2019. In 2020, Telegram and its wholly owned token issuer settled the case: the settlement required more than $1.2 billion to be returned to investors and an $18.5 million civil penalty. Telegram then ended its original launch effort, while open-source developers continued work on the protocol that became The Open Network.
The name Gram therefore appears in two parts of TON’s history. The original Telegram offering was a proposed launch token; the current Gram is the same network coin that was called Toncoin (TON) immediately before the June 2026 rebrand. A shared name does not make the earlier offering and the present asset the same sale or legal event.
How TON Works
TON uses proof of stake: validators commit stake and take part in the process that agrees on network state and produces blocks. Its architecture separates a masterchain, which records network-wide configuration and information about other chains, from the basechain used by most accounts and smart contracts. As load changes, the basechain can split into or merge shardchains so that different parts of the workload can be processed separately.
This design is intended to help the network handle activity across many accounts. Sharding is an architecture, not a guarantee of a particular transaction speed, fee, or capacity in every condition. Actual performance depends on network load, software, validators, and the applications using the chain.
Smart contracts on TON communicate by sending messages. The network also supports tokens commonly called Jettons, non-fungible tokens, and decentralized applications. Developers use TON’s own tools and virtual machine, so an application written for another chain may need to be adapted rather than copied unchanged.
What Gram Does
Gram is TON’s native coin. It is used to pay network and smart-contract fees and is involved in staking and network-level voting. This role is separate from the many other tokens and collectibles issued by applications on TON: those assets may have their own contracts, issuers, and risks. A GRAM balance is not a share in Telegram or the TON Foundation and does not promise a return.
TON and Telegram
TON is closely connected to Telegram’s user-facing products, including mini apps, wallet connections, and TON-hosted sites. Telegram’s blockchain guidelines for mini apps specify the TON blockchain for assets issued or distributed in those apps and require TON Connect for wallet interaction there. Those rules govern the Telegram platform; they do not mean that every TON application is operated by Telegram.
The relationship has also changed over time. In a June 2026 post, TON’s official channel said Telegram was taking a leading role in the network and becoming its largest validator. That is a statement by the project’s official channel, not a complete independent review of validator stake or control. Telegram’s distribution can make TON easier to discover, while dependence on one company’s application rules and a concentrated validator role remain relevant when assessing decentralization.
Risks and Practical Checks
Before sending Gram, check that the sending and receiving services support the TON network and that the destination address is correct. A similarly named wrapped token on another chain is not automatically interchangeable with native GRAM. Wallets can also differ in who controls the keys: an in-app interface by itself does not tell you whether a service is custodial or self-custodial.
The June 2026 rename did not require holders to claim, bridge, or migrate coins. Treat messages or websites asking you to connect a wallet to “upgrade” Toncoin to Gram as suspicious. TON applications can have separate smart-contract, bridge, custody, and platform risks, and the market price of GRAM can rise or fall independently of network usage.
Social Media Sentiment
A small June 2026 exchange-related Reddit discussion about the TON-to-GRAM relabeling included a user who had not heard about the change and replies thanking the poster for the update. It illustrates that the new name was not immediately familiar to every participant in that thread; it is one limited conversation, not a measure of wider holder sentiment or TON adoption.
Last updated: 2026-10
Related Terms
See Also
- Are Layer 2 Networks Actually Decentralized?
- What Is Tokenomics — And Why It Determines Whether a Crypto Project Survives
- NFTs and Digital Game Ownership: What Actually Changes (And What Doesn’t)
- Swap Gram (formerly Toncoin) with ChangeNOW
Sources
- TON Documentation: Start Here — Explains TON’s chain structure, validators, smart contracts, and sharding in the current developer documentation.
- U.S. Securities and Exchange Commission: Telegram Settlement — Records the 2020 settlement, investor repayments, and civil penalty tied to Telegram’s original Gram offering.
- Gram of TON: Native Token Rename Announcement — Gives the June 2026 vote result, effective date, no-migration details, and the project’s statement about Telegram’s validator role.
- CoinGecko: Gram (Previously Toncoin) — Identifies the current market listing and reports the live market fields used in the table.