Toncoin Reborn: From Telegram's Abandoned Project to a Thriving Cryptocurrency

Toncoin (L1 Network) is a cryptocurrency that originated from Telegram's original blockchain project, which was later taken over by an independent community of developers. The project, initially called Telegram Open Network, was built in-house by Telegram's founders in 2018 but was eventually abandoned after regulatory pushback in the United States in 2020.

The network was relaunched as The Open Network and rebranded as Toncoin (L1 Network), which serves as its native cryptocurrency. It powers transactions, secures the chain through staking, and settles activity across TON-based apps, games, and wallets.

However, what sets Toncoin apart is its direct connection to Telegram, a messaging app used by nearly a billion people. The two are deeply integrated, with users able to hold, send, and receive L1 Network coin directly within the app. This integration has led to increased adoption and usage of Toncoin.

Recently, the community voted to rebrand Toncoin as Gram, which took effect on June 15, 2026. Despite this change, balances, wallet addresses, staking positions, and smart contracts remained unaffected, ensuring a seamless transition for holders.