TON Introduces Incentive Program

Today, the community of developers within the Open Network ecosystem (TON) announced a $5 million incentive program aimed at encouraging users to verify their digital identities using cutting-edge palm scanning technology.

TON Society, a group of developers and contributors building the TON ecosystem, will distribute 1 million Toncoin tokens as part of a voluntary identity verification program. The project aims to facilitate digital identity verification for Telegram users over the next five years.

The project utilizes technology from HumanCode, allowing users to verify their identity on the blockchain. The application, available on Google Play and the Apple Store, enables users to scan their palms using a smartphone.

According to information provided by Cointelegraph, this technology ensures privacy protection and is compatible with various devices, allowing the scanner to be used on different mobile platforms. Ekin Tuna, the director of TON Foundation's development, emphasized that supporting identity verification protocols like HumanCode is a step toward a practical reputation system with real-world applications for the TON ecosystem:

"A scalable, private, and decentralized identity will help onboard the first billion users to the Web3 ecosystem in Telegram."

In March, the TON Foundation allocated 30 million Toncoin tokens, valued at approximately $115 million, for various community rewards to enhance adoption.

These incentives will be allocated across four different areas: $38 million worth of Toncoin will go towards token mining and user incentives, $22 million for airdrops, $15 million for the League developer ecosystem, and $40 million for enhancing liquidity pools.

The Telegram Advertising Platform, built on the TON blockchain, officially launched in March 2024. This platform enables Telegram channel owners worldwide to receive financial rewards by exclusively selling advertisements and sharing revenue with channel owners in TON.