Onchain fees in USDt

Developers of TON wallets please read the following information:

https://t.me/tondev_news/114

https://t.me/tondev_news/115

Toncoin circulating supply update

The circulating Toncoin supply has been updated on data aggregators (CoinGecko, CoinMarketCap, and Tontech.io) to align with industry practice as laid out by CoinGecko.

This new figure, effective from 29 May at 17:00 GST, follows an in-depth review of TON Blockchain data and among other things, specifically excludes the following locked or reserved tokens:

— Toncoin in the TON Believers Fund
— Toncoin held by Telegram
— Toncoin held by The Open Network Foundation

Transition from jUSDT to native USDt

USDt's launch on TON had huge success: there are already 316 million USDt in circulation!

Before launching the native USDt, the bridged jUSDT fulfilled its role in the TON blockchain.

Along with the launch of native USDt on TON, work has begun on cross-chain solutions that will allow transfers of native USDt from various networks into TON blockchain and vice versa.

Thus, we are proposing to start migrating from jUSDT to the native USDt on TON.

— The perсentage fee in bridge has been removed from the transfer of jUSDT from TON back to Ethereum.

— Over the next few weeks, TON Foundation will add liquidity to the jUSDT-USDt pools on TON DEX(es) for a while to allow small holders of jUSDT be able to exchange them for native USDt on TON DEX(es).

— After two weeks, jUSDT transfers from Ethereum to TON on bridge.ton.org will be closed at 12:00 UTC on June 10. Transfers of jUSDT from TON to Ethereum will work as long as there are jUSDT holders. Other tokens will continue to be processed without changes.

This is a scheduled event, all your funds are safe.
Please consider transferring either your jUSDT back to Ethereum via bridge (for larger amounts) or exchanging your jUSDT to native USDt on DEXes (for smaller amounts).

Attention TON Community ?

If you have experience with learning and development on TON and have noticed something missing in the documentation or tools, this is your chance to let us know.

We encourage every community member to share their experiences with TON development by participating in our survey.

The survey encompasses four key topics and will take approximately 5-8 minutes of your time.

We invite you to contribute to this important initiative and share your valuable experiences here:
? https://nletwfvh.paperform.co

Validators voted to reduce fees
Network fees decreased by 2.5 times. We thank the validators for your choice.

This is the first use of the TON fees reduction mechanism on the mainnet.

Validators also voted for the first precompiled smart contract, which will further reduce fees for USDt in particular.

Developers please pay attention to the guidelines.

Voting to reduce network fees
TON has always been known for its low network fees.

Fees in TON are fixed (in Toncoin) and do not depend on the load in the network in any way. However, given the rise of Toncoin price, they are no longer so low in terms of dollars.

Fortunately, TON provides a mechanism for reducing the cost of fees by network-wide voting.

We encourage validators to vote for this fee reduction.

https://telegra.ph/Making-TON-the-Most-Affordable-scalable-Layer-1-Network-04-16

How to vote »

Telegraph

Making TON the Most Affordable, scalable Layer 1 Network.

The TON Core team wants to share with the validator community new plans to improve our ecosystem’s affordability and growth. The team is looking to introduce an initiative to cut transaction fees, making TON transactions more affordable to encourage activity…

After my last post, some people expressed concern that, as a result of ad sales exclusively for TON, Telegram may end up holding an unhealthy share of Toncoin, which will be too concentrated for a decentralized ecosystem. We acknowledge these concerns and have come up with a solution.

To limit Telegram’s share of TON at ≈10% of the supply, we’ll be selling the upcoming surplus of our TON holdings to long-term investors — under 1-4 years lockup and vesting plan, but at a discount to the market price. This way free-floating TON will get locked up, stabilizing the ecosystem and reducing volatility.

Potential investors in TON have been actively trying to reach out to us through various means. To make the process of any TON sales from Telegram fair and streamlined, we set up a new email address [email protected], where large investors ($1M+) can express their interest. Thanks to the participation of more long-term holders, TON will remain stable and decentralized.

? Next month, channel owners on Telegram can start receiving financial rewards from their work.

Broadcast channels on Telegram generate 1 trillion views monthly. Currently, only 10% of these views are monetized with Telegram Ads — a promotion tool designed with privacy in mind.

In March, the Telegram Ad Platform will officially open to all advertisers in nearly a hundred new countries. Channel owners in these countries will start receiving 50% of any revenue that Telegram makes from displaying ads in their channels.

To ensure ad payments and withdrawals are fast and secure, we will exclusively use the TON blockchain. Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins — or reinvest them in promoting and upgrading their channels ?

The highlights of 2023

The most significant of last year's many events:

Mass-adoption:

— TON x Telegram;

Performance:

— World blockchain speed and scalability record;

— 80M transactions in 15 days in mainnet;

Tokenomics:

— Achieving transparency and predictability for more than 66% of tokenomics [1] [2] [3];

— Implementation of the mechanism of burning half of the network fees, achieving deflationary in December;

Recognition:

— The Dubai Financial Services Authority added TON;

— Swiss non-profit TON Foundation;

— The Gateway Conference;

Decentralization:

— Deleting the configuration key;

— Network-wide votings has become commonplace;
Usability:

— Lots of updates to wallets, DEX's, staking, bridge and every service in the TON ecosystem;

Integration:

— TON x Trust Wallet, Ledger, Amazon Web Services, Tencent Cloud, Elliptic, Blockchain.com, Animoca Brands, Bitget Wallet, Atomic Wallet, Changelly and many others;

Technology:

— Zero-Knowledge on TON;

— Constant kernel and developer updates;

Read more detailed review and developer report on the blog.

Validators voted to activate TVM update

Now TON developers even more equipped to develop cutting edge protocols.