TON Foundation Launches $115 Million Rewards Program for The Open League Season 1
The TON Foundation has announced the launch of The Open League's first full season, starting April 1st, with a massive $115 million in Toncoin community rewards to be distributed over the course of one month. This announcement comes on the heels of the pilot season's success, which led to a 70% growth in Total Value Locked (TVL) and a staggering 370% increase in daily active wallets.
The Open League Season 1 will feature four systems to distribute the 30 million Toncoin budget: The League, Token Mining, Quests & Airdrops, and Liquidity Pool Boosts. Each system caters to different types of users within the Telegram community, from developers to newcomers and experienced crypto enthusiasts.
The League, with a $5 million Toncoin prize pool, is an overall KPI competition where Web3 projects compete in Major and Minor Leagues to win the season's prizes. Projects can choose to keep their winnings or distribute them to their communities. Any Web3 project on TON can compete to enter the Minor League by showing significant traction, having a strong community, winning community votes, or excelling in hackathons or the TON Accelerator.
Token Mining encourages projects to create simple incentive mechanisms and referral programs using their own tokens, following the successful models of Notcoin, Pixels, and Catizen. This allows newcomers to easily earn free tokens and helps projects grow their user base without marketing spend.
Quests & Airdrops, with a $22 million Toncoin allocation, provide a step-by-step introduction to on-chain usage of TON projects through activities listed on TON Society. Users can earn Soul Bound Tokens, which are non-transferable collectibles that may prove valuable in the future. Airdrops will also be given for various on-chain activities throughout the season.
Liquidity Pool Boosts, with $40 million Toncoin, offer high APRs for experienced users who provide liquidity to token pairs. Major League projects will receive 50K Toncoin each to boost their liquidity pool rewards, while Minor League projects will receive 5K Toncoin. Users can find boosted pools through The Open League Mini App within Telegram.
The Open League and its substantial rewards aim to create a positive "flywheel" for TON projects, demonstrating that crypto can be easy, intuitive, and highly rewarding for every Telegram user. The TON Foundation invites Web3 projects from any chain with significant traction to join Season 1, build on TON and Telegram, and attract millions of users.
