MEXC Debuts GRAM, the "New Bitcoin" of Telegram's Decentralized Ecosystem

GRAM, the first token on the decentralized TON blockchain that can be mined with graphics cards, has been listed on the cryptocurrency exchange MEXC. GRAM has gained popularity within the CIS community, attracting over 30,000 holders and experiencing a 28,000-fold increase in price since its launch in January. With a total issuance of 5,000,000,000 GRAM, it currently has a circulating supply of 1,750,000,000 GRAM and aims to become the Bitcoin equivalent in the TON ecosystem.

GRAM: The "New Bitcoin" of Telegram's Decentralized Ecosystem Debuts on MEXC

In a groundbreaking move that ushers in a new era for The Open Network (TON) ecosystem, MEXC, a reputable cryptocurrency exchange, has announced the listing of GRAM, the pioneering token built on the TON blockchain that has garnered significant traction for its accessibility and mining capabilities.

Since its inception in January 2024, GRAM's allure has reverberated throughout the TON community, rapidly amassing over 30,000 holders. Its value has skyrocketed an astonishing 28,000 times, soaring from an initial price of $0.00000107 to a peak of $0.044, setting a remarkable benchmark of $0.03.

Anticipations of GRAM's listing on MEXC first surfaced last week, sending ripples of excitement through the community, particularly among GRAM enthusiasts in the Commonwealth of Independent States (CIS) region. Notably, substantial transfers exceeding 1 million GRAM were observed towards MEXC and OKX exchanges, fueling speculation that a major announcement was imminent.

GRAM's presence has already been established on decentralized cryptocurrency exchanges operating within the vast TON ecosystem in the CIS region, including STON.fi, Ton.Diamonds, and the DEX DeDust. Additionally, it has gained traction in the P2P section of CryptoBot on Telegram. Data from CoinGecko reveals that GRAM's total trading volume on DEX has surpassed $2 million, underscoring its growing popularity.

The significance of GRAM lies in its pivotal role as a token on the TON blockchain, embodying the principles of decentralization and accessibility. Unlike many cryptocurrencies, GRAM lacks pre-mining or reserves allocated to project teams or large investors, ensuring an equitable distribution of coins. Instead, all coins reside within smart contracts known as PoW Givers, which facilitate the mining process.

The mining process for GRAM mirrors the initial mining mechanism of TON in the blockchain's early stages. Users can effortlessly set up the necessary software on their devices and contribute to the network by solving computational tasks assigned by PoW Givers, special contracts that contain the tasks to be resolved.

This approach fosters a decentralized distribution of coins among users, maintaining the network's integrity and preventing centralization. GRAM's unparalleled accessibility and straightforward mining requirements have propelled it to become the most sought-after token on the TON blockchain, appealing to the general public.

The launch of GRAM on January 30th witnessed the swift resolution of smart contracts offering the highest mining rewards – large PoW Givers with a reward of 100,000 GRAM – within a single day. By March, coins from medium and small PoW Givers with rewards of 10,000 and 1,000, respectively, were also fully mined. At present, mining continues through micro-givers offering a 100 GRAM reward.

GRAM's total issuance is capped at 5,000,000,000, with 1,750,000,000 GRAM already mined as of March 27th. Its intended role is to become the equivalent of Bitcoin within the TON ecosystem, facilitating instant and cost-effective transactions regardless of volume.

GRAM's genesis can be attributed to a group of enthusiasts dedicated to developing projects within Telegram's ecosystem. Oleg Oskolsky, a prominent TON developer and creator of popular Telegram bots, expressed his astonishment at the unexpected success of GRAM, which he initially conceived as a playful experiment.

"I never anticipated that GRAM, which I created as a fun experiment, would generate such a sensation and capture the attention of the entire TON community [in the CIS], making it the most decentralized coin in TON with equal distribution," wrote Oskolsky following GRAM's launch.

"GRAM has a founder, but no owner, no tokenomics or roadmap. Everyone in the community shapes GRAM's purpose. We are all equal participants with identical opportunities."

The name GRAM echoes the primary cryptocurrency of Pavel Durov's Telegram Open Network project, which raised an impressive $1.7 billion through private funding rounds in 2018. However, the project faced setbacks due to regulatory pressures and was subsequently transferred to the community as an open-source project, rebranded as The Open Network (TON).

Officially, the Telegram team has no involvement in managing the TON project but remains actively supportive of initiatives that contribute to the ecosystem's growth. Notably, in February 2024, Pavel Durov announced the commencement of payment incentives for owners of Telegram channels who actively promote TONcoin.

GRAM's emergence as the "New Bitcoin" in the Telegram ecosystem is a testament to its unwavering commitment to decentralization, accessibility, and community-driven innovation. As it embarks on a new chapter with its listing on MEXC, GRAM is poised to reshape the TON landscape and empower its users with a truly democratic and equitable cryptocurrency experience.