توكنوميكس TONCOIN (TON)

Overview

Toncoin (TON) is the native token of The Open Network (TON), a decentralized blockchain platform designed for scalability, high throughput, and secure application hosting. Below is a comprehensive breakdown of its token economics, including issuance, allocation, usage, incentives, locking, and unlocking mechanisms.

1. Issuance Mechanism

• Initial Supply: TON launched with an initial total supply of 5 billion tokens.
• Current Total Supply: As of October 2025, the total supply is approximately 5.144 billion TON, reflecting a modest annual inflation rate of 0.60%.
• Issuance: New TON tokens are minted as block rewards for validators. The network subsidizes block creation by adding TON to the reward pool, with 1.7 TON for each masterchain block and 1 TON for each basechain block.
• Deflationary Mechanism: Since June 2023, 50% of all network fees (transaction and storage) are burned, introducing a deflationary pressure that counteracts inflation from block rewards. Additionally, a "Black Hole" mechanism exists for manual burns.

2. Allocation Mechanism

Historical Allocation

Current Supply

• Circulating Supply (Oct 2025): ~2.52 billion TON
• Staked Supply (Nov 2023): ~457 million TON staked across ~339 validators

3. Usage and Incentive Mechanism

• Staking APY: ~5.18% (as of Nov 2023)
• Validator Requirements: Minimum 300,000 TON (self-staked or nominated) to run a validator

4. Locking and Vesting Mechanisms

• Smart Contract Lockups: TON provides a smart contract called "The Locker" for users to lock up their coins for extended periods, with optional rewards for locking.
• Vesting Toolkit: A vesting wallet toolkit is available for teams and contributors, enabling structured token release schedules.
• No Standardized Team/Investor Vesting: Unlike some projects, there is no public evidence of a fixed, project-wide vesting schedule for team or investor allocations. Most tokens were distributed via mining and are now in circulation or held by large wallets.

5. Unlocking Time

• Historical Unlocks: The majority of tokens were unlocked and distributed between 2020 and 2022 via mining from POW Givers.
• Ongoing Unlocks: New tokens enter circulation through validator rewards, subject to the network’s inflation schedule.
• User Lockups: Users can voluntarily lock tokens for staking or via smart contracts, with unlocking determined by contract terms.

6. Governance and Penalties

• On-chain Governance: TON holders can vote on proposals, with voting power based on token holdings or a one-wallet-one-vote system.
• Slashing: Validators can be penalized (slashed) for malicious or idle behavior, with a standard penalty of 101 TON.

7. Token Supply Table

8. Summary Table: Toncoin Tokenomics

9. Additional Notes

• No Claims on Profits: TON does not confer rights to capital, profits, or legal claims on the TON Foundation.
• Decentralization: Validator and governance mechanisms are designed to promote decentralization, though a significant portion of supply remains concentrated in top wallets.

This structure provides a comprehensive, up-to-date view of Toncoin’s token economics, including all requested mechanisms and their current status.