Pavel Durov, co-founder of Telegram and initiator of the creation of the blockchain The Open Network (TON), announced a major rebranding — the native token Toncoin (TON) will now receive the historic name Gram. This move brings the project back to its roots, as this name was laid out in the platform’s white paper during the development stage.
This is reported by Finway
“Gram was the original name of the TON blockchain coin in the very first white paper. We are returning to our origins and starting a new chapter. This rebranding is important for what comes next. The migration will take about three weeks. The network will still be called TON,” Durov stated.
Reasons for the name change and development strategy
The rebranding of Toncoin to Gram is part of the Make TON Great Again strategy, initiated by Pavel Durov in April 2026. This initiative aims to significantly increase the blockchain’s throughput, reduce fees to nearly zero, scale the network, and actively develop new features. All these measures are aimed at strengthening TON’s position in the competitive cryptocurrency environment.
After the announcement, the market immediately reacted with a surge in the price of Toncoin: the price rose from $1.3 to $2.9 per token, followed by a partial correction, but the price stabilized above $2.
The history of Gram and the impact of the SEC on the project’s development
The TON blockchain, which appeared in 2018 under the name Telegram Open Network, was created by Pavel and Nikolai Durov as a platform for decentralized applications and financial transactions. Its first token was indeed Gram (GRM).
In October 2019, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Telegram Group Inc. and TON Issuer Inc., accusing them of an unregistered securities offering through the placement of GRM. According to the SEC, the project raised about $1.7 billion by selling 2.9 billion Grams to 171 investors, 39 of whom were from the U.S. According to the regulator, the token had the status of an investment contract.
In March 2020, the court ruled in favor of the SEC, and by May, Pavel Durov announced the cessation of work on TON. In June 2020, Telegram reached a settlement with the SEC: the company returned over $1.2 billion to investors, paid an $18.5 million fine, and agreed to notify the SEC three years prior to launching any digital assets.
- Return of $1.224 billion to investors;
- Payment of an $18.5 million fine;
- Commitment to notify the SEC before issuing new digital assets for three years.
After this, the management of the TON ecosystem was transferred to the developer community, and the blockchain received a new name — The Open Network. It is worth noting that under the administration of U.S. President Donald Trump, the SEC released clarification stating that most cryptocurrencies are not securities.