Pavel Durov Announces: Toncoin (TON) Is Changing Its Name – Price Reacts Positively

A notable brand change has emerged within the Telegram and $TON ecosystem. Telegram CEO Pavel Durov announced that Toncoin, the native cryptocurrency of the $TON blockchain, will be renamed back to “Gram.”

Durov stated that Gram was the original currency name included in $TON’s first whitepaper, adding that the project was returning to its roots and symbolized the beginning of a new era. According to Durov, the rebranding process will take approximately three weeks.

According to the announcement, only the name and ticker of the cryptocurrency will change. While the $TON blockchain name will remain the same, there will be no technical changes to user balances, wallet addresses, NFTs, staking positions, DeFi assets, and smart contracts. Under the new arrangement, it is also planned to change Toncoin’s ticker from $TON to GRAM.

Durov also argued that $TON is one of the world’s most decentralized blockchain networks, noting that Telegram becoming the largest validator on the network allows major exchanges and custodian service providers to stake $TON without increasing the risk of centralization.

On the other hand, Telegram’s proposed rebranding has sparked diverse interpretations within the community. While some argue that this step, which technically doesn’t create any changes for users, is merely a name change, others point out that proposals directly supported by Telegram generally receive strong backing within the $TON ecosystem. Therefore, it is being considered that the return to the Gram brand could be the first step in broader plans that may be announced in the future.

*This is not investment advice.