Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
A toncoin -based economy is starting to take root in the messaging app Telegram, and that explains the token's recent outperformance of the broader crypto market, according to Justin Hyun, director of investments at TON Foundation.. Open interest, or the dollar value locked in the number of perpetual futures tied to TON, has increased by over 17% to $160 million in the same period,show. At one point, open interest topped $200 million.
"Telegram has launched its ad platform, which only accepts Toncoin instead of fiat, choosing the principles of Web3 and paying 50% of the revenue they make from advertising back to Telegram channel owners, Hyun said in an interview over email."The move will mean channel owners can distribute Toncoin in giveaways to their audiences, growing awareness of TON's ecosystem even further, and over time, decentralizing the token supply to Telegram's best and brightest creators.
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