توكنوميكس TONCOIN (TON)

Overview

Toncoin (TON) is the native token of The Open Network (TON), a decentralized blockchain platform designed for scalability and high throughput. The token economics of Toncoin are shaped by its issuance, allocation, usage, incentive mechanisms, and evolving deflationary features. Below is a comprehensive breakdown based on the latest available data.

Issuance Mechanism

• Initial Supply: TON launched with an initial supply of 5.00 billion tokens.
• Pre-mine & POW Givers: In June 2020, 4.92 billion TON (~96.66% of the total supply) were pre-mined and allocated to 20 "Proof-of-Work (POW) Givers" smart contracts. These were depleted by June 2022.
• Ongoing Issuance: TON has a 0.60% annual inflation rate. New tokens are minted as block rewards for validators.
  • Block Subsidies: 1.7 TON per masterchain block, 1 TON per basechain block.
  • Validator Reward Pool: ~40,000 TON per validation cycle (<0.01% of total supply).

Allocation Mechanism

• No Official Public Breakdown: There is no officially disclosed, detailed allocation breakdown from the TON Foundation or Telegram Messenger Inc.
• Current Distribution (as of Nov. 22, 2023):
  • Circulating Supply: ~3.45 billion TON (~69% of total supply)
  • Top 10 wallets: ~3.14 billion TON (~62.8% of total supply)
  • Staked: ~457.3 million TON (~8.98% of total supply) across ~339 validators
• Historical Mining: Early distribution was via mining from POW Givers, now depleted.

Usage and Incentive Mechanism

• Deflationary Mechanism: Since June 2023, 50% of all transaction and storage fees are burned, reducing circulating supply over time.
• "Black Hole" Mechanism: Any TON sent to a specific address is destroyed, supporting future deflationary strategies.

Locking and Vesting Mechanisms

• Staking Lock: Tokens staked for validator/nominator roles are locked for the duration of the validation cycle (~18 hours).
• Locker Smart Contract: Users can voluntarily lock TON for extended periods and receive rewards for doing so.
• Vesting Wallet Toolkit: Available for teams and contributors to manage vesting schedules.
• No Universal Lockup: There is no network-wide lockup or vesting for all tokens; mechanisms are opt-in or role-specific.

Unlocking Time

• POW Givers: All tokens from the initial POW Givers were distributed by June 2022.
• Staking: Unstaking is possible after the end of each validation cycle.
• Locker/Vesting: Unlocking depends on the terms set in the smart contract or vesting agreement.

Tokenomics Table

Additional Notes

• No Claims on Profits: TON does not confer rights to capital, profits, or legal claims in the TON Foundation.
• Governance: Voting power can be weighted by balance or "one wallet, one vote." Proposals require validator approval.

Summary

Toncoin's token economics are characterized by a hybrid of inflationary issuance (for validator rewards) and deflationary mechanisms (fee burning), with flexible staking and locking options. The network's design encourages active participation through staking, governance, and ecosystem utility, while the burn mechanism aims to counterbalance inflation and support long-term value.

For the most up-to-date statistics and burn metrics, users can visit the TonStat website.