Gram

• Gram is the native token of The Open Network, the blockchain designed by Telegram's founders and now developed independently.

• It was previously known as Toncoin and powers transactions across TON's applications.

• GRAM is used for gas, staking and governance.

• Renamed from TON to GRAM, reviving the name from the project's original design.

• Used for network fees, validator staking and payments within Telegram-integrated applications.

Pros:

• Telegram integration provides distribution to a user base measured in hundreds of millions.

• Sharded architecture designed for very high throughput.

• Large ecosystem of Telegram mini-applications already deployed.

Cons:

• Telegram's original blockchain project was abandoned in 2020 after the SEC ruled the Gram token offering was an unregistered securities sale.

• The network is now independent of Telegram, so the integration is a partnership rather than a guarantee.

• Telegram-driven user growth has repeatedly shown very poor retention.

• Exposure to the largest messenger-integrated blockchain ecosystem.

• Distribution advantage is real and measurable.

• The 2020 SEC action and the retention record are both essential context.

• Direct integration with Telegram, giving applications access to a user base no other chain can approach through native distribution.

• Crypto applications cannot reach users who will not leave the apps they already use.

• Building inside a messenger with hundreds of millions of users removes the acquisition problem, though not the retention one.

• Originally designed by Nikolai and Pavel Durov of Telegram; the project was abandoned in 2020 following SEC action.

• Development continued independently through the TON Foundation and community developers.

• The original Gram offering raised roughly $1.7 billion in 2018 and was halted by the SEC, with funds returned to investors. The current token entered circulation through mining and community distribution after the network relaunched independently.

• Regulatory history includes a halted offering and returned investor funds.

• Telegram integration is a partnership, not a structural guarantee.

• User retention from Telegram campaigns has been consistently poor.

• Dependency on Telegram's continued permissiveness toward crypto.