Telegram introduces 10% cap on TON holdings following implementation of channel owner rewards

Telegram is taking steps to address concerns over the concentration of its Toncoin (TON) holdings by implementing a cap of 10%. Co-founder Pavel Durov acknowledged the community’s worries about the company holding too much of the cryptocurrency due to exclusive advertisement sales made for TON. To mitigate these risks, Telegram plans to sell its surplus TON holdings to long-term investors at a discounted rate over a period of one to four years. Telegram has also established a streamlined process for TON sales, specifically catering to large investors with investments of $1 million or more. This announcement comes after Telegram’s recent initiative to split ad revenue with broadcast channel creators, using the TON blockchain as the exclusive payment rail. As a result of this news, the price of TON surged by over 50%.