Telegram founder mentioned in a post, collaborates with official payment service Donate, TONCOIN surges 60% in a single day

Telegram co-founder Pavel Durov announced last May that he was abandoning the blockchain project TON, but he mentioned on 12/23 that development on TON continues after the community took over. TON also announced a partnership with Telegram payment service provider Donate. With this double boost, its token TONCOIN surged nearly 60% in a single day.

For the background of TONCOIN, please read: FTX lists community-led Telegram blockchain, how is it different from the other fork Free TON?

Pavel Durov: Proud of TON

Pavel Durov expressed on 12/23 in his Telegram personal channel:

When Telegram bid farewell to TON last year, I mentioned my hope that developers would one day continue to realize our vision for a mass-market blockchain platform.

Therefore, I am deeply encouraged to see the champions of the Telegram coding competition continuing to develop the TON project, now rebranded as Toncoin.

I am proud of the vibrant and evolving technology we have built. TON still leads all projects in the blockchain space in terms of scalability and transaction speed. If this project cannot benefit the masses, it would be a shame.

Unlike the initially launched TON, Toncoin is now independent of Telegram. However, I hope that the development team will be as successful as Telegram, and with the right listing strategy, they have all the foundations needed to create an epic product.

Collaboration with Donate

Telegram introduced the official payment bot Donate this year to help channel creators receive donations from subscribers. Channels must meet the following conditions:

• Have over 1,000 subscribers
• Be established for more than three months
• Limited to channels in the education and entertainment categories

Prior to this, Donate only accepted donations in Euros. On 12/23, the TON official team announced that they have become official partners with Donate. Users will now be able to donate and pay subscription fees through Toncoin, and channel creators can choose to accept payments in Toncoin.

The TON official team stated that they will release more detailed information about their collaboration with Donate in the coming days.

Toncoin saw a significant increase after the news release, but it still has a gap to fill compared to its previous highs.