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The Open Network (TON) announced a rebranding of its native token from Toncoin to Gram, a name originally used in the project's 2018 white paper. Telegram founder Pavel Durov described the move as a return to the project's roots, intended to align with a broader roadmap aimed at integrating Web3 features into the Telegram messaging platform. The transition is a branding update rather than a technical migration, meaning no token swap or change to network operations is required.
The rebranding effort follows Telegram's increased involvement in the network, including its role as a primary validator. While the project seeks to leverage the Gram name to strengthen its historical narrative and consumer strategy, the network faces ongoing market volatility and external pressures. Notably, the price of the token has experienced significant fluctuations, influenced both by the rebranding announcement and external events, such as the August 2024 arrest of Telegram CEO Pavel Durov in France.
The rebranding of Toncoin to Gram is a label change that does not require a technical migration, token swap, or change to existing smart contracts.
The name Gram was originally associated with Telegram's 2018 blockchain project, which was halted following intervention by the U.S. Securities and Exchange Commission.
The TON ecosystem aims to integrate crypto functionality, including payments and mini-apps, into Telegram's global user base.
Market performance for the token has been impacted by both internal developments, such as the rebrand, and external factors, including the arrest of Pavel Durov.
No, the rebrand is a labeling update that does not require a token swap, migration, or any change to existing user balances and addresses.
Telegram abandoned the original project and the Gram name in 2020 after the U.S. Securities and Exchange Commission alleged that the initial token sale constituted an unregistered securities offering.
The arrest of Pavel Durov in August 2024 resulted in a sharp decline in the token's price, reflecting the market's perception of the close link between Telegram and the TON blockchain.
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