The TON Foundation has started a program to reward people who use the USDT stablecoin in the TON network early. It’s part of an attempt to work together better with Tether. New information says that 11 million Toncoin (TON) have been set aside for this project. This change is a smart way to get more people to use the stablecoin online.
USDt on TON will be accompanied by fully integrated on-ramps from most fiat currencies globally at launch. Soon, integrated global off-ramps will enable users to withdraw supported fiat currencies directly to bank accounts or cards.
TON Foundation announcement
The reward program, carefully thought out to make it easier for USDT to join the TON network, will be a significant component of getting more people to use decentralized platforms and making more funds available.
Out of the whole amount, five million TON tokens have been set aside to make rewards better in the liquidity pools of decentralized platforms such as DeDust and STON.fi. People who use USDT and join the Wallet’s Earn program will get five million more coins. This is another reason for people to use the stablecoin.
TON Foundation Facilitates Fee-Free Withdrawals for Seamless Transactions
To facilitate funds transfer from centralized TON partner exchanges, 1.2 million Toncoin tokens have been set aside to facilitate trades without fees. Since this change, it’s now easy for users to buy USDT or any other blockchain-based commodity and move it to the TON network without paying fees. After this, people will find it easy to connect to and use the network.
The market is very busy right now, and the price of Toncoin is going up because of the news of this incentive program. Toncoin prices went up to $7.21 on CoinMarketCap earlier in the day, but by the time this story came out, they had gone down to $6.43 each. Toncoin’s market value of $22.3 billion shows how important it is in digital assets, even with these changes.
But while everyone was discuss about the TON Foundation’s reward program, TON took a big hit after Telegram Founder Pavel Durov said some things.
Durov said that stickers on Messenger could be turned into tokens, and the people who make stickers would get 95% of the funds made through the TON blockchain. Toncoin’s path was questioned by the sudden change in this case, which shows how fluid the digital asset space is.
The TON Foundation is implementing its incentive scheme to encourage more people to use USDT and help the ecosystem grow. People with a stake in the TON network are still very aware of what’s happening and are ready to deal with how the decentralized finance and blockchain tech world is changing.
