KuCoin exchange, a cryptocurrency exchange with daily volumes of over $1.7 billion, has today announced that Toncoin, the native token of the TON (The Open Network) blockchain, will be listed on its exchange. The token will be listed on October 27th and available in the TON/USDT pair for spot trading. Serving 20 million users in over 200 countries, this announcement will introduce a significant number cryptocurrency enthusiasts to the TON ecosystem.
TON is a third generation layer 1 proof-of-stake blockchain that was developed in 2018 by the founders of Telegram. TON was designed for lightning-fast and ultra-cheap transactions, with a fully scalable decentralized blockchain and intuitive applications.
Toncoin, is the native token of TON, and the only cryptocurrency available for P2P trading through Telegram. After the Durov brothers handed TON over to the community, blockchain development has been led by the TON Foundation, a non-commercial group aimed at growing the TON blockchain. Recently it was announced that Telegram would be building a marketplace on TON. This marketplace will enable users to auction tokenised Telegram handles.
The listing was announced by the TON Foundation, a non-commercial group developing the TON blockchain, and reflects the continued collaboration between the two parties, with KuCoin Ventures having previously led the creation of a 250 Million USD TON Ecosystem Fund alongside Huobi Incubator.
KuCoin’s listing of Toncoin, a token uniquely available to be traded P2P through the Telegram messaging platform, reflects the currency’s continued growth. The token was also recently listed on Huobi exchange.
The Ton Foundation have promised a range of community engagement activities, including airdrops and competitions, during the initial launch period to celebrate another significant milestone in the history of TON.