Stories and Reviews
April 01, 2024

GRAM: The “New Bitcoin” in the Telegram Ecosystem is Now Available on MEXC

In Brief

GRAM is intended to become the equivalent of Bitcoin in the TON ecosystem, providing instant and cheap transactions of any volume. It was created by a group of enthusiasts who develop projects in the Telegram ecosystem

The cryptocurrency exchange MEXC will list GRAM – the first token on the TON blockchain that can easily be mined using graphics cards. 

Although GRAM was only launched in January, the number of its holders has already crossed 30,000, and its price has increased by 28,000 times since the start – from $0.00000107 to $0.03, peaking at $0.044.

On MEXC, the trading pair GRAM/USDT will be available soon. Rumors about GRAM listing on MEXC surfaced last week. The community, which primarily consists of GRAM enthusiasts from CIS countries, noticed large transfers of over 1 million GRAM to the MEXC and OKX exchanges.

Earlier, GRAM was added to decentralized cryptocurrency exchanges operating in the TON ecosystem which is huge in the CIS. 

The token supports STON.fi, Ton.Diamonds, and the DEX DeDust as well as in the P2P section of the CryptoBot on Telegram. According to CoinGecko data, the total trading volume of GRAM on DEX exceeds $2 million.

GRAM is a token on The Open Network blockchain with a high level of decentralization and the ability to mine the coin using the computational power of ordinary graphics cards. 

The high level of decentralization is ensured by the absence of pre-mining and reserves for the project team or major investors. All coins are held in smart contracts – PoW Givers, through which mining is conducted.

The process of mining GRAM is similar to how TON was mined in the early stages after the blockchain launch. 

The users can easily set up the required software on their machines and receive network rewards for solving the computational task in the PoW “Givers” – the special contracts that contain tasks required to be resolved. 

Thanks to this approach, coins are distributed evenly among users, maintaining a high network decentralization.

GRAM has become the most popular token on the TON blockchain because of its ease-of-access and simple mining requirements for the general public. 

Smart contracts with the highest mining rewards – large PoW Givers with a reward of 100,000 GRAM were completely resolved within a day of the GRAM launch on January 30. 

By March, coins from medium and small PoW Givers with rewards of 10,000 and 1,000, respectively, were also completely mined. Currently, mining is conducted through micro-givers with a reward of 100 GRAM.

The total issuance of GRAM is limited to 5,000,000,000. As of March 27, 1,750,000,000 GRAM have already been mined. 

GRAM is intended to become the equivalent of Bitcoin in the TON ecosystem, providing instant and cheap transactions of any volume. It was created by a group of enthusiasts who develop projects in the Telegram ecosystem.

“I couldn’t have imagined that GRAM, that I launched as a fun experiment would cause such a sensation and capture the attention of the entire TON community [in the CIS], make it the most decentralized coin in TON with equal distribution,” wrote one of the TON developers and the creator of popular Telegram bots, Oleg Oskolsky, after the launch of GRAM. 

“GRAM has a founder, but no owner, no tokenomics or roadmap, and everyone in the community decides for themselves what GRAM means to them. We are all interested participants with equal opportunities.”

The token name GRAM echoes the name of the main cryptocurrency in Pavel Durov’s Telegram Open Network project, which raised $1.7 billion in private funding rounds in 2018 but was brought down due to regulatory pressure and later handed over to the community as an open source project, renaming it to The Open Network (TON). 

Officially, the Telegram team does not have access to managing the TON project, but actively supports the initiative to develop the ecosystem. 

In particular, in February 2024, Pavel Durov announced the start of payments to owners of Telegram channels who actively advertise TONcoin.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

More articles
Gregory Pudovsky
Gregory Pudovsky

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

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