In the blockchain world, you need to pay a fee to write your records on the blockchain when you trade on the blockchain. This is what we often call “Gas fee”. Different blockchains use different currencies as corresponding gas fees, such as Ethereum uses ETH and Bitcoin uses BTC. As the native cryptocurrency of the TON blockchain, Ton Coin is gradually becoming the focus of attention of emerging investors and blockchain enthusiasts. If you are not familiar with Ton Coin, this article will take you to a deeper understanding of its functions and application scenarios, as well as how to obtain this versatile cryptocurrency.
What is TON Coin?
Ton Coin is not only a cryptocurrency, its economic model and the mechanism behind it fully consider the long-term sustainability and scalability of the blockchain. TON’s token economic model emphasizes scarcity and incentive mechanisms, which not only makes Ton Coin more attractive, but also makes it play a vital role in the entire ecosystem.
TON’s white paper details the blockchain’s technical architecture, economic model, and long-term development goals. According to the white paper, TON is an efficient multi-chain blockchain system designed to support the high-frequency transaction needs of millions of users. TON uses dynamic sharding technology, allowing the network to automatically allocate resources as needed, thereby achieving extremely high scalability. These designs enable TON to support a variety of decentralized applications (dApps), including DeFi, NFT markets, social platforms, etc.
The white paper also emphasizes the decentralized nature of TON, ensuring that the network is not controlled by a single entity and providing a strong incentive mechanism for validators and coin holders. Such a design ensures the security and long-term development potential of the network.
Ton Coin’s Token Economic Model
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Total Supply and Scarcity: The total supply of Ton Coin is 5 billion, but unlike many other cryptocurrencies, it has no hard cap. This means that in the future, the supply of Ton Coin may increase with the demand of the network and the output of miners. However, the inflation rate of Ton Coin has been designed to be very low, about 2% per year, which ensures the scarcity and stable growth of the token.
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Incentive mechanism and validator rewards: TON adopts the Proof-of-Stake (PoS) consensus mechanism, which means that validators need to pledge Ton Coin to participate in network governance and transaction verification. Validators can earn rewards by staking tokens, which is a powerful incentive mechanism to attract more people to participate in the security maintenance of the network. At the same time, this also ensures that Ton Coin holders can obtain passive income by staking tokens.
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User participation and network governance: Users holding Ton Coin can participate in the decentralized governance of the TON blockchain. This means that coin holders can vote on important decisions such as blockchain upgrades and protocol changes. Such a mechanism can ensure that the development direction of the network is consistent with user needs.
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Burning mechanism and value-added: Part of the transaction fees will be permanently destroyed, which helps control the supply of Ton Coin and prevent inflation. As the network usage increases, the burning mechanism will further limit the circulating supply in the market, which may have a positive impact on the long-term growth of the value of the token.
In addition, from the data of CoinMarketCap , we can find that Ton is currently ranked ninth, with an FDV of more than 13 billion. Therefore, Ton is relatively stable compared to other cryptocurrencies and most people agree that it is a high-value currency. Therefore, the risk of holding it is relatively small.
Besides investment, what other uses does Ton Coin have?
Ton Coin is not just a token, it has many practical application scenarios. Whether you are a trader, developer or investor, you can find its value. Let’s take a look at the scenarios in which Ton Coin can play a role:
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Pay transaction fees (Gas fees)
When you conduct transactions on the TON blockchain, you must pay a small amount of Ton Coin as a fee, which is called a Gas fee. Due to the efficient transaction processing capabilities of the TON blockchain, the average transaction costs only about 0.0055 TON, which is less than $0.01, which is a great advantage for frequent transactions. -
Participate in Decentralized Finance (DeFi)
Ton Coin can be used to earn extra income in DeFi projects. You can put Ton Coin into liquidity pools, such as using platforms such as STON.fi or PixelSwap to provide liquidity, and get rewards. If you are interested in decentralized finance, you can explore more. -
Blockchain Network Governance
Holding Ton Coin gives you the right to participate in the governance decisions of the TON ecosystem. You can vote on network upgrades, participant elections, and important protocol changes. This decentralized governance mechanism ensures that the future of the network is jointly decided by coin holders. -
Support for Smart Contracts and dApps
The TON blockchain supports an efficient smart contract system, and Ton Coin can be used to pay for interacting with smart contracts. This includes paying for contract execution when operating on dApps. The TON ecosystem already has many successful dApps, where you can experience more application scenarios of Ton Coin, such as GetGems , Hamster Fight , catizen , etc. -
Participate in the NFT Market
The Disintar platform of the TON blockchain provides the function of creating and trading NFTs, and Ton Coin is the main payment currency in this market. You can buy, sell and even display NFTs and interact with other users. If you are interested in NFTs, you can explore more features on the Disintar platform . -
Cross-border payments and transfers
Due to its low transaction fees and extremely fast transaction speed, Ton Coin is very suitable for cross-border payments. Whether it is a small payment or a large transfer, Ton Coin can provide stable and efficient services. -
You can stake your Ton Coins on the TON blockchain, act as a validator of the network, and earn stake rewards. This is a passive income method that also helps maintain the stability of the network .
How to get Ton Coin? Three main ways
If you are already interested in Ton Coin, then you must want to know how to get it. In fact, whether you are just starting out or an experienced investor, the following methods can help you get started with Ton Coin easily.
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Buy through a centralized exchange: This is one of the easiest and most direct ways. You can buy Ton Coin on major exchanges like Binance or OKX . These platforms support a variety of payment methods, including credit cards, bank transfers, and other cryptocurrencies. Once the purchase is complete, don’t forget to transfer your Ton Coin to a non-custodial wallet to ensure full control.
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Use a decentralized exchange (DEX)
If you want to have full control over your assets, you can choose a decentralized exchange (DEX), such as STON.fi. On these platforms, you can directly exchange other tokens such as USDT for Ton Coin without the intervention of middlemen. -
Use Telegram Wallet to buy
Ton Coin You can also purchase it through the cryptocurrency wallet function in the Telegram application. This method is particularly simple and suitable for newcomers. You can buy and store Ton Coin directly on Telegram using fiat currency or cryptocurrency. After completing the purchase, you can easily transfer Ton Coin to other non-custodial wallets.
Why is choosing Ton Coin a good investment?
In the rapidly changing world of blockchain, choosing the right cryptocurrency to invest in is crucial. Ton Coin stands out because it relies on the efficiency and scalability of the TON blockchain, making the application scenarios of Ton Coin very broad. Whether it is payment, decentralized applications, NFT or governance, Ton Coin has demonstrated its potential in the future.
And Ton Coin also has a stable economic model, balancing supply and demand through scarcity and network growth, which makes it have the potential to maintain appreciation in the long run. As the user base of the TON network expands, the demand for Ton Coin will continue to grow, and its limited supply also means that the price may rise in the future.
For me, holding Ton Coin is a very smart choice. It not only provides me with the opportunity to earn income on the DeFi platform, but also allows me to participate in blockchain governance and have more say. At the same time, its wide application in the NFT market and decentralized application fields has allowed me to see more possibilities. With the continued growth of the TON ecosystem, the application and value of Ton Coin will become more significant. Therefore, I believe that holding Ton Coin is a wise investment decision.
Read more:
About LayerPixel - Our Vision & Mission: About LayerPixel - Our Vision & Mission
Welcome to the TON World — Why This chain is the Next Big Thing?: Welcome to the TON World — Why This chain is the Next Big Thing?
LayerPixel Ignites the Fire of Community Power: Introducing PixelDAO: LayerPixel Ignites the Fire of Community Power: Introducing PixelDAO | by LayerPixel | Aug, 2024 | Medium
Join PixelDAO Telegram to discuss TON ecosystem projects!
About LayerPixel:
LayerPixel is an all-in-one DeFi protocol designed specifically for the TON blockchain and seamlessly integrated with Telegram Mini Apps. Leveraging a modular architecture, LayerPixel overcomes the asynchronous limitations of TON while harnessing its sharding benefits.
At the core of the LayerPixel ecosystem are several innovative components:
- PixelWallet - An SMC wallet with Account Abstraction (AA) features, enabling users to interact with dApps and the LayerPixel ecosystem with ease.
- PixelSwap - The first modular DEX on TON, supporting advanced trading models like weighted pools and LBP.
- Pixacle - A decentralized oracle solution delivering fast and accurate price data to dApps and smart contracts.
LayerPixel’s future plans include becoming a cross-chain solution to power DeFi experiences across all Telegram Mini Apps. By providing an all-in-one platform, LayerPixel aims to make blockchain-powered finance accessible to everyone within the TON ecosystem.
Official Links
LayerPixel: Homepage | Twitter | Channel | Community | Medium | Bot |
PixelSwap: Homepage | Twitter | Channel | SWAP | Pool
PixelDAO: Twitter | Forum | Chat Group