Open Network (TON) and Huobi Global have announced an expanded collaboration that will span multiple areas. As part of this collaboration, the cryptocurrency exchange has announced that it will list Toncoin, the native cryptocurrency of the TON ecosystem.
The cryptocurrency will be available to trade in the TON/USDT pair on the spot trading platform on September 7, 2022. TON deposits were officially opened on September 5th, and withdrawals would open on September 8th, 24 hours after the tokens became available for listing.
This expanded collaboration will see 1 million tonnes of tokens set aside as part of the marketing campaign budget. This will go towards marketing events, airdrops, trading contests and staking with 300% APY.
Huobi Global Chief Financial Officer Lily Zhang had this to say about the collaboration; “By leveraging its user-friendly mass-market products, TON has the potential to become one of the most promising Layer-1 blockchains that could bring hundreds of millions of Web 2.0 users to the crypto world. With the integration of the TON mainnet, Huobi TON The ecosystem is well equipped to support promising projects built.”
One important thing to note about Extended Collaboration is that it doesn’t end in the list of tokens. It will further focus on expanding the opportunities that exist in the Web3 space, including building support businesses and developers in Web3, incubating Web3 projects and providing investments, and implementing technologies and products across the open network.
“We are excited that Huobi Global now supports the TON mainnet. We look forward to actively supporting the TON ecosystem together,” said Steve Yun, a founding member of the TON Foundation.
About TON Blockchain
The Open Network (TON) is behind the famous @wallet Telegram bot. It is the first and only Telegram bot that allows users to send cryptocurrency to each other through a decentralized peer-to-peer system. TON was initially developed by the Durov brothers, the founders of Telegram, but later handed over the project to the TON community, which has since oversaw its development.
Toncoin is the native cryptocurrency of the TON ecosystem, and users can easily send Toncoin to each other on Telegram using the @wallet bot. The project is led by the TON Foundation, a non-commercial group of supporters and contributors/developers.
The TON Foundation recently announced the launch of the @wallet bot on Telegram, which allows users to buy, sell and store Toncoin. Transactions are cheap and lightning fast, and the blockchain is user-friendly and fully scalable. There are currently over 1 million active Bitcoin wallets, recording an operating turnover of $5 million in the last quarter.
About Huobi Global
Huobi Global is the 9th largest crypto exchange by trading volume and the market leading cryptocurrency exchange in Asia. The company has consistently provided reliable services in the digital asset space that spans spot and derivatives trading, crypto loan and yield products, and crypto staking, among others.
It has compliance licenses in a total of 12 counties such as the United States, Japan, Thailand and Gibraltar. The company was founded in China in 2013 and is currently based in Seychelles with offices in the United States, Japan, South Korea and Hong Kong.
The crypto exchange sees over $500 million in daily trading volume and has been able to grow an impressive suite of crypto platforms and suites. Some examples are Huobi Capital, the investment arm of the company, Huobi DeFi Labs, a DeFi ecosystem development platform, and HECO Chain, an eco-friendly and developer-friendly blockchain, etc.