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The TON Foundation team recently announced an incentive program to collaborate with Tether, aiming to promote the adoption of the stablecoin online.
According to the announcement, 11 million Toncoin (TON) have been designated to reward early USDT users in the TON network. This initiative includes offering 5 million TON to enhance rewards in liquidity pools on decentralized platforms like DeDust and STON.fi. Additionally, another 5 million tokens will be distributed to users participating in the Wallet’s Earn campaign using USDT.
Furthermore, 1.2 million Toncoin tokens will be provided to facilitate commission-free fund withdrawals through centralized TON partner exchanges. Users will be able to purchase USDT or any other blockchain-based asset and transfer it to TON without incurring any fees.
Toncoin’s price experienced a surge to $7.21 before declining to $6.43 per coin at the time of writing, with a market capitalization of $22.3 billion, as reported by CoinMarketCap.
The TON Foundation team also mentioned that the integration of USDt on TON will come with fully integrated on-ramps from various fiat currencies globally at launch. In the future, integrated global off-ramps will allow users to withdraw supported fiat currencies directly to bank accounts or cards.
In related news, TON faced a significant drop after Telegram Founder Pavel Durov hinted at the potential tokenization of stickers on the messenger platform. Sticker creators stand to benefit from 95% of the revenue generated through the TON blockchain.
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