Open Network (TON) and Huobi Global have announced the expansion of their relationship across multiple domains. As part of this agreement, the cryptocurrency exchange has announced that Toncoin, the native cryptocurrency of the TON ecosystem, will be listed on its platform.
On the spot trading market, the cryptocurrency will be accessible for trading in the TON/USDT pair on September 7, 2022. TON deposits will be available on September 5, and withdrawals will be available on September 8, 24 hours after coins become available for registration.
As part of the marketing campaign budget, this expanded collaboration will set aside 1 million TON of tokens. It will be utilised for marketing events, airdrops, trading competitions, and up to 300% APY staking.
“By using a user-friendly mass market product, TON has the potential to become one of the most promising layer-1 blockchains that can bring hundreds of millions of Web 2.0 users to the crypto world,” said Lily Zhang, Chief Financial Officer of Huobi Global, of the collaboration. Huobi is now well-equipped to assist promising projects established on the TON ecosystem, thanks to the integration of the TON mainnet.”
The extended collaboration is significant in that it does not end up on the Toncoin list. It will concentrate on extending the potential in the Web3 sector, such as assisting businesses and developers in developing on the Web3, incubating and investing in Web3 projects, and deploying technology and products on The Open Network.
“We are pleased to announce that Huobi Global is now supporting the TON mainnet.” “We look forward to working together to actively promote the TON ecosystem,” stated Steve Yun, a founder member of the TON Foundation.
TON Blockchain Information
Open Network (TON) is the company behind the well-known Telegram bot @wallet. It is the first and only Telegram bot that enables users to send cryptocurrency to one another using a decentralised peer-to-peer network. TON was created by the Durov brothers, the founders of Telegram, but was later handed over to the TON community, which has been in charge of its growth ever since.
Toncoin is the TON ecosystem's native cryptocurrency, and users may simply send Toncoins to each other via Telegram using the @wallet bot. The project is led by the TON Foundation, a non-profit support group and contributor/developer.
The TON Foundation recently announced the release of the @wallet Telegram bot, which allows users to buy, sell, and store Toncoins. Transactions are inexpensive and lightning fast, and the blockchain is simple to use and totally scalable. There are currently over 1 million active Toncoin wallets, with a $5 million operating turnover in the last quarter.
Huobi Global Information
Huobi Global is the biggest cryptocurrency exchange in Asia and the ninth largest crypto exchange by trading volume. The organisation regularly provides dependable services in the digital asset market, such as spot and derivatives trading, crypto loan and yield products, and crypto betting.
It has compliance licences in 12 different countries, including the United States, Japan, Thailand, and Gibraltar. The company was established in China in 2013 and is now headquartered in the Seychelles, with offices in the United States, Japan, South Korea, and Hong Kong.
The crypto exchange has a daily trading turnover of over $500 million and has developed a remarkable spectrum of crypto platforms and suites. Huobi Capital, the company's investment arm, Huobi DeFi Labs, a DeFi ecosystem development platform, and HECO Chain, an eco-friendly and developer-friendly blockchain, are a few examples.