Validators on The Open Network (TON) are getting ready to vote on a proposal to change the tokenomics and supply of the project.
On February 21, Toncoin validators will vote on a proposal to adjust the Toncoin circulating supply. If the bill is passed, the supply will be reduced by approximately 20% by “freezing it for the next 48 months and then unfreezing it.”
According to the team, this proposal may have an impact on Toncoin’s market capitalization. It may also improve tokenomics transparency for the community, which includes users, developers, investors, and other projects.
The Durov brothers, who created the messaging platform Telegram, designed and developed TON, a high-throughput layer-1 blockchain.
Inactive accounts from the original TON miners were proposed to be frozen on February 14. A little more than one billion coins, or 20% of the total supply of Toncoin, are held in the wallets.
If approved, the frozen mining coins will gradually be unlocked and the total supply will be reduced to about 4 billion tokens. In circulation right now, according to CoinGecko, are 1.47 billion tokens.
Reducing the influence of these whale wallets is intended to increase network decentralization. The only people who can become network validators are whales who have more than 300,000 TON coins. If you have less TON to stake, there are pools available.
