TON Foundation
Gram
the Telegram-born coin that took back its name
Key facts
- #26by market value
- Rank
- Layer 1Telegram-linked network
- Type
- 2021community revival
- Launched
- Uncappedmining ended 2022
- Supply
Gram (GRAM), formerly Toncoin, is the native coin of The Open Network, the blockchain Telegram designed, abandoned and the community revived.
What it is
Gram is the native coin of The Open Network (TON), the blockchain originally designed by Telegram, the messaging app with around a billion users. Until June 2026 the coin was called Toncoin. On 15 June 2026 the ticker changed from TON to GRAM following a community vote that the TON Foundation reported passed with 81.22 per cent support, and ton.org now describes Gram as the network’s native coin. The memorable fact: this is the name coming home. Gram was what Telegram called the token before US regulators forced the project to be abandoned in 2020.
How it works
TON is a proof-of-stake blockchain, meaning validators lock up coins for the right to confirm transactions and earn rewards, with the chain able to split itself into parallel shards, smaller lanes that process transactions side by side, when demand rises. Gram pays transaction fees and staking rewards. Its early distribution was unusual for a proof-of-stake network: according to ton.org, the initial supply was distributed through proof-of-work mining, which formally ended in 2022. Supply is uncapped, with modest ongoing issuance rewarding validators. The network’s distinguishing feature is distribution through Telegram itself, where wallets and mini-apps put the coin in front of an audience most blockchains can only imagine.
The story so far
Telegram designed TON from 2018 and raised about $1.7 billion selling Grams to investors. The US Securities and Exchange Commission halted the launch, and in a 2020 settlement Telegram agreed to return more than $1.2 billion and pay an $18.5 million penalty, abandoning the project. Open-source developers kept the code alive, relaunched it as The Open Network, and renamed the coin Toncoin to distance it from the litigation. Telegram later embraced the revived network, and the coin climbed into the top tier of crypto assets, peaking in June 2024. The 2026 vote to restore the Gram name closed the circle. One caution the foundation itself has stressed: the rename involved no migration and no new token, so any site inviting users to claim or convert GRAM is a scam.
Where it stands
As of late July 2026, CoinGecko lists the coin as Gram at about 25th or 26th by market value, around $4.0 billion, priced near $1.46, roughly 82 per cent below its June 2024 peak of $8.25. About 2.7 billion of 5.2 billion coins circulate. What to watch next: whether Telegram’s enormous distribution converts into durable usage rather than airdrop-chasing, how mini-app activity holds up through the bear market, and how smoothly exchanges and data providers complete the ticker change. Few assets have survived a regulatory shutdown, a rename, a revival and a second rename. As of July 2026, Gram has, and its fortunes remain tied to the app that started it all.