What Is Toncoin? The Telegram Chain That Renamed Itself Gram

What it actually is, and why the name changed twice

The Open Network started life in 2018 as the Telegram Open Network, a blockchain designed by Telegram founders Pavel and Nikolai Durov to eventually sit underneath Telegram’s messaging app itself. Telegram raised roughly $1.7 billion from investors in a private sale of a token called Gram, aiming to bring blockchain features to an app already used by hundreds of millions of people. In October 2019, the U.S. Securities and Exchange Commission sued, arguing Gram was an unregistered security. Rather than fight it out, Telegram abandoned the project in 2020, returned $1.2 billion to investors, and paid an $18.5 million fine.

That could have been the end of it. Instead, independent developers who’d been involved in the original project picked up the code and relaunched it as a fully separate, community-run network called The Open Network, with its native asset renamed Toncoin (TON) to distance it from Telegram’s abandoned, SEC-scrutinized token. For a few years, TON operated as its own thing, with Telegram itself keeping an arm’s-length relationship: pointing to TON for a few integrations without formally running it.

That distance closed dramatically starting in 2024. Telegram began paying channel owners a share of in-app ad revenue in TON and rolled out an in-app wallet and “mini-app” ecosystem built directly into the messenger, giving TON a direct line to Telegram’s enormous user base in a way most blockchains never get. Then, in August 2024, French authorities arrested Pavel Durov at a Paris airport and indicted him on charges related to insufficient content moderation on Telegram, including counts tied to child exploitation and drug trafficking material. TON’s price and total value locked both dropped sharply in the days after. As of this writing, Durov has not been convicted in the French case; France later lifted the travel and reporting restrictions it had placed on him, and Russia’s security service separately filed unrelated terrorism-related charges against him in 2026.

Durov emerged from that period pushing TON closer to Telegram, not further away. In January 2025, Telegram announced it would support only The Open Network going forward. Then, through 2026, Durov set out a public multi-step plan to more directly tie Telegram’s fortunes to the chain, and in June 2026, the TON community voted, with roughly 81% support, to rename Toncoin back to its original name: Gram. The ticker on exchanges switched from TON to GRAM on June 15, 2026. Nothing technical changed: no token swap, no new contract, no action required from holders. Existing balances, staking positions, and wallets simply now display as Gram. If you’re researching this asset today, “Toncoin” and “Gram” refer to the exact same token; you’ll see both names depending on how current the source is.

The technical mechanism, in plain language

TON is a proof-of-stake blockchain, meaning validators lock up TON (now Gram) to earn the right to confirm blocks, the general model described in What Crypto Actually Is. What makes TON’s design distinctive is how it scales: instead of one chain processing every transaction, TON uses what it calls an “infinite sharding paradigm.” A single masterchain coordinates the network, while transaction activity is spread across a large, dynamically adjustable number of shard chains that can split further when demand rises and merge back when it falls, similar in spirit to a highway adding lanes only where traffic actually needs them. Smart contracts run on the TON Virtual Machine, which is not compatible with Ethereum’s, so applications built for Ethereum can’t be copied over directly; they have to be built specifically for TON. Contracts on TON also communicate asynchronously, sending messages to each other and waiting for a reply rather than reading each other’s state instantly, a real architectural difference from Ethereum that developers have to design around.

Strengths and limitations, honestly

TON’s genuine, distinguishing strength is distribution: an in-app wallet and mini-app ecosystem reaching an enormous existing user base through Telegram is a kind of built-in audience essentially no other blockchain has, and it’s the entire reason TON went from a niche relaunched project to a top-30 asset by market capitalization within a few years. Its real limitations are just as concrete. Its history includes a genuine regulatory failure (the original SEC action against Telegram) and its price and usage remain unusually tied to the fortunes, decisions, and legal exposure of one company and one high-profile individual, Pavel Durov, whose own legal situation is still unresolved. A blockchain whose growth strategy depends this heavily on a single messaging app’s continued goodwill and legal standing carries a concentration risk that a more organically grown network doesn’t. The TVM’s incompatibility with Ethereum tooling also means TON’s developer ecosystem and available applications are smaller than chains that share Ethereum’s tooling, discussed generally in What Are Layer 2s?.

How to actually trade or hold it

TON, now listed as GRAM on most exchanges (some briefly paused trading during the June 2026 rebrand before relisting it under the new ticker), is available for spot trading on most major exchanges; check our exchange comparisons for current listings, fees, and which ticker a given exchange is using. If this is your first crypto purchase, Spot Trading Explained covers order types and custody basics before you commit real money. Because the rename is purely cosmetic, don’t be alarmed if you hold TON somewhere that hasn’t yet relabeled it, or if a data source still shows historical charts under the old ticker; double-check you’re looking at the same contract address or network listing before assuming a “new” token is legitimate.

For the current price, market cap, and 24-hour chart, see our live Toncoin page.

Frequently asked questions

Is Toncoin the same thing as Gram? Yes. Gram is simply the current name for what was called Toncoin; the community voted to rename it in June 2026, reviving the name Telegram used for its original, abandoned 2018 project. It’s the same token, same balances, same network, just a different name and ticker (GRAM instead of TON).

Did Telegram actually build this blockchain? Telegram built the original version and abandoned it in 2020 after an SEC enforcement action. Independent developers relaunched it separately afterward. Telegram has since re-engaged heavily, integrating it into the app and, according to its own 2025 and 2026 statements, positioning itself as the network’s primary driving force and largest validator, but it is technically still run by The Open Network’s separate validator and governance structure, not owned outright by Telegram as a company.

Does Pavel Durov’s legal situation affect the token? It has historically: TON’s price and network activity dropped noticeably after his August 2024 arrest. As of this writing, the French case remains unresolved and Russia has filed separate charges against him, which means this is an ongoing, real, and specific risk factor for anyone evaluating this asset, not a settled matter.

Is TON compatible with Ethereum wallets and apps? No. TON uses its own virtual machine and account model, which isn’t compatible with Ethereum’s. You’ll generally need a TON-specific wallet, such as the one built into Telegram itself, rather than reusing an Ethereum-based wallet like MetaMask.

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