Huobi Global announced the listing of Toncoin (the native cryptocurrency in The Open Network) on Wednesday, September 7, 2022. TON will now be traded on one the most popular cryptocurrency exchanges around the globe in a TON/USDT spot trade pair.
Huobi Global, in a strategic partnership arrangement with the TON Foundation announced that Toncoin was listed on September 5. The new listing of Toncoin, a token available for transacting on Telegram’s messaging platform Telegram, brings it into mainstream.
The Huobi Incubator was previously used to raise $250 million for the project. The partnership will see Toncoin listed at the crypto exchange. Additionally, Toncoin has a large marketing budget of 1,000,000 TON tokens that can be used for marketing events, trading contests and stakes with up to 30% APY.
Steve Yun is a founding member of the TON Foundation and expressed delight at Huobi’s partnership. He states that the TON Foundation is “excited that Huobi Global now supports TON mainnet. We look forward to actively supporting the TON ecosystem together.”
Web3 is also being expanded by the partnership. Both sides plan to use the partnership to help developers and businesses as well as to invest, incubate and implement technology and projects based the TON Blockchain.
“By leveraging its user-friendly mass-market products, TON has the potential to become one of the most promising layer-1 blockchains that could bring hundreds of millions of Web 2.0 users to the crypto world,” Lily Zhang, Chief Financial Officer of Huobi Global. “With the integration of TON mainnet, Huobi is well-equipped to support promising projects built in the TON ecosystem.”
About the Open Network (TON).
Telegram founders, the Durov brothers, created the Open Network (TON), a Layer 1 proof of stake blockchain. This blockchain enables fast and cheap transactions. This fully decentralized, scalable blockchain has simple-to-use apps and an eco-friendly design.
Officially, the Durov brothers handed over TON the community. Since then the TON Foundation has led the development of blockchain technology. This non-profit group of contributors and supporters has only one purpose: to grow blockchain.
Toncoin is the native token for TON and the only cryptocurrency that can be transferred between Telegram users. With the @walletbot, users can send crypto to each other in an effortless manner.
Huobi Global
Huobi Global was founded in 2013, and quickly rose to prominence. According to Coinmarketcap data, the exchange ranks 9th in terms of global volume with more than $500,000,000 daily. Huobi licenses in 12 countries: the United States of America, Japan and Thailand as well as Japan, Japan, Gibraltar, and Japan.
As the company evolved, it has been able to create different arms for various areas of business. HECO Chain provides developers with an environment-friendly blockchain. Huobi Capital manages the investments and Huobi DeFi Labs focuses on decentralized financing (DeFi).