TON Jumps 15% as Governance Vote Seeks Rebrand to Gram
Summary
- TON started a governance vote to rebrand the token as Gram, sending the price up about 15%% from $1.95 to $2.25.
- The proposal would restore the token’s original name from Telegram’s 2018 white paper, when the company conducted an $1.7 billion ICO, and TON said the process would take about three weeks.
- TON said the rebranding would not replace the token itself, and existing addresses, balances and smart contracts will remain unchanged without a token swap or migration process.
- About 1.8 million TON had been cast in favor in the governance vote, giving the proposal roughly 80%% support.
Forecast Trend Report by Period
TON jumped after the project launched a governance vote to rebrand the token as Gram.
Cointelegraph reported on June 2 that TON had started a governance vote that would change the token’s name to Gram. The token climbed about 15% to $2.25 from $1.95 after the announcement.
Pavel Durov, Telegram’s founder, wrote on his Telegram channel that Gram was the original currency name specified in the token’s first white paper. “We want to return to our roots and start a new chapter,” he wrote.
TON said the renaming process is set to take about three weeks.
The proposal would restore the token’s original name from Telegram’s 2018 TON white paper. Telegram raised about $1.7 billion in an ICO tied to the Gram token at the time, but halted the project in 2020 after action by the U.S. Securities and Exchange Commission.
TON emphasized that the rebranding would not involve replacing the token itself. Existing addresses, balances and smart contracts will remain unchanged, with no token swap or migration process.
About 1.8 million TON had been cast in favor in the governance vote underway, giving the proposal support of roughly 80%.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
