Toncoin’s native token has rebranded to ‘Gram’ as part of the latest step in Pavel Durov’s “Make TON Great Again” roadmap.
Toncoin’s Native Token Is Now Called Gram
In a new post on Telegram, Pavel Durov has shared details related to a rebranding of the native token of the Toncoin network. The asset is set to see a name change to Gram, with the transition period expected to take about three weeks.
Durov is the co-founder and CEO of Telegram, and one of the biggest backers of TON. In the blockchain’s early days, its full form even stood for the Telegram Open Network, with the Telegram team handling its development. Telegram’s official involvement with the token, however, ended back in 2020 following a legal dispute with the US Securities and Exchange Commission (SEC).
After Telegram pulled out, the ecosystem rebranded itself to The Open Network and development was handed off to independent contributors. While the messaging giant ended its involvement in the project, it didn’t break all ties. In 2023, Telegram integrated a wallet based on the blockchain to its official app.
Durov himself also remained a supporter of the project. This year, the Telegram CEO kickstarted the “Make TON Great Again” (MTONGA) initiative, which is going to have a total of seven steps. The first two steps of the roadmap went into action in April and provided upgrades to the network’s transaction speed and fees.
The third step, announced in early May, saw Telegram officially re-enter the picture after a six-year absence, replacing the TON Foundation as the driving force behind the ecosystem. The messaging company also became the network’s largest validator.
“Telegram becoming TON’s largest validator strengthens decentralization,” said Durov in an X post a day after announcing the move. “It lets other major players join the validator pool without centralizing the network — with Telegram as the counterbalance.”
Now, the Telegram co-founder has unveiled the rebrand to the name Gram as the fourth checkpoint in the MTONGA plan. This change, which only applies to the blockchain’s native token, will bring back the asset’s original name from its first white paper. The new website for the token provides a teaser of a fresh logo for the cryptocurrency.
The new logo and name for the cryptocurrency | Source: Gram.org
“We’re returning to our roots — and starting a new chapter,” noted the Telegram co-founder. “This rebranding will pave the way for what comes next.” There are three more steps left in the MTONGA roadmap, but it only remains to be seen what they will bring to the network.
Gram Price
At the time of writing, Gram is trading around $2.02, up over 5% in the last seven days.
The trend in the price of the coin over the last five days | Source: TONUSDT on TradingView
