Pavel Durov, the founder of Telegram, in the latest post, addressed concerns about the social networking platform holding a concentrated amount of TON (Telegram Open Network) due to advertising sales. After his last announcement, the Toncoin price recorded a positive surge.
Telegram founder comes out with new proposal
Since Telegram’s proposal came out, some users raised concerns that the platform might end up holding an unhealthy share TON through ad sales exclusively for the coin. This was seen as one of the major issues for the decentralized ecosystem.
Telegram’s founder, in response to these concerns, announced a solution to limit Telegram’s share of TON to approx 10% of the total supply. Durov added that Telegram plans to sell the upcoming surplus of its TON holdings to long-term investors. However, this strategy will look to limit Telegram’s share of TON to around 10% of the total supply.
As per the plan, the surplus of TON holdings will be sold to long-term investors. It will have a lockup and vesting plan ranging from 1 to 4 years. It is being highlighted that the sale will be at a discount to the market price. This will eventually encourage long-term investment and reduce the free floating supply of TON.
Pavel Durov mentioned that Telegram has set up an email address where large investors can express their interest in participating in the TON sale. This will include the investors with investments of $1 million or more. It is important to note that the sale to long-term investors is intended to lock up free-floating TON.
Advertisement linked concerns
Earlier, Durov stated that Telegram will start sharing advertisement revenue with channel owners. This will be starting in March. However, all of the payments and withdrawals linked to revenue sharing will be settled on the TON blockchain.
Reports suggest that the Telegram Ad platform is set to officially open to all advertisers in nearly a hundred countries in March. It added that these owners in these countries will receive 50% of any revenue generated from displaying ads.
Toncoin price is down by more than 3% in the last 24 hours. However, TON price is up by 27% in the last 7 days. However, its 24 hour trading volume is up by 82% to stand at $249 million. It is holding a market cap of $9.2 billion. Its circulating supply stands at 3,467,950,949.
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