The Open Network

Intermediate results of Rainbow Cross-Chain development for The Open Network

Roman Nguyen shared at the BUIDL Vietnam 2023 our significant results in the development of a unique cross-chain solution that works absolutely without intermediaries and private keys, and checks all data on smart contracts.

https://blog.ton.org/intermediate-results-of-rainbow-cross-chain-development-for-the-open-network

Token bridge fee

Starting June 26, 12:00 UTC, in the token bridge, the commission for transferring tokens from the TON network to the Ethereum network will be 1 TON plus 0.1% of the transfer amount.

The commission for transferring tokens from the Ethereum network to the TON network will remain unchanged - exactly 1 TON.

Validators voted to activate 50% network fees burning

By this time, the first 1000 TON have been burned 🔥

Validators please vote for or against the proposal to burn 50% network fees.

Proposal info »

Public poll results »

How to vote »

💎 The Locker bug bounty event

Task: Find vulnerabilities in the Locker smart contract.

Prize fund: Up to 50'000 TON
Deadline: 23:59 on June 30th (UTC)
Who can participate: Everyone
How to submit: Open issue on github

🛡️ Discussion on updating the TON address format

TON is a blockchain designed for mass adoption. As part of this endeavor, we propose to add several guidelines and make small changes to the address format. The goal is to ensure that even inexperienced users who mistakenly send funds to the wrong place do not lose their funds and have them returned in most cases.

We encourage all developers to join in the discussion regarding the TON address format.

This proposal focuses on changes that almost completely maintain backward compatibility. However, we are open to discussing other proposals, including more radical ones.

TEP discussion »

Big TVM update

The most significant TON Virtual Machine update so far – extended cryptography, arbitrary-precision arithmetic, and new instructions – this update will make TVM one of the most versatile virtual machines around and allow developers to create an even more diverse range of smart contracts, services, and products on TON.

We invite everyone to take part in the programming contest with 30,000 TON prize pool and showcase their best use of the new TVM features or take part in the bug bounty program receiving a reward for found bugs and vulnerabilities of the new TVM in the testnet.

Read more »

Tokenomics deflation mechanism

The latest TON updates (2023.04, 2023.05) were devoted to optimization, security, and stability.

Today's TON update (2023.06) introduces a new Toncoin deflation mechanism:

🔥 Burning part of the network commission.

🕳 Black hole – if you send Toncoin here, it will completely disappear and be deducted from the total supply.

Network-wide voting for the activation of this functionality is scheduled for June 15th.

Read more »

Best practices for processing deposits and withdrawals in Toncoin and Jettons

When integrating Toncoin and Jettons to your exchange/bot/payment system, please refer to the JS examples:

Toncoin

— Processing deposits

— Processing withdrawals

— Detailed info

Jettons

— Processing deposits

— Processing withdrawals

— Detailed info

Q1 2023 Results

TON Ecosystem has demonstrated impressive growth, with a 25% increase in the total number of accounts and transactions, a thriving DeFi sector, a cohesive ecosystem that continues to improve synergy between components, and a developer community that is rapidly expanding.

https://telegra.ph/TON--Results-from-Q1-2023-04-18

Token Bridge

The unlimited bridge for token transfer between the Ethereum and TON blockchains has been launched.

At the moment, you can freely transfer USDT, UDSC, DAI and WBTC tokens.

In the future, users will be able to transfer any ERC-20 compatible tokens.

The bridge has been verified by leading audit companies, including CertiK, Hexens, Quantstamp, and a public competition has been held to find vulnerabilities.

The Toncoin bridge has also received an update which added support for different languages as well as a number of UI improvements.

bridge.ton.org

Results of the TON Awards 2022

301,920 TON ($676,300) was distributed between 42 great open-source projects.

The Open Network is a community-driven project where everyone is involved in contributing to a more decentralized and freer world.

The TON Foundation team is proud to be working with such talented developers from all over the world and would like to invite new teams to join our collective venture.

TON Connect

Public discussions on the TON Connect standard have been finalized.

Most TON wallets already supported TON Connect (2.0), we hope that other ecosystem wallets will start supporting this standard in the near future.

Nonetheless, developers may still hold public discussions about how to improve new versions of the TON Connect protocol.

🏆 The TON Awards ceremony will be held online in text format tomorrow at 15:00 UTC.

See you soon!

😺 You can now buy Telegram Premium subscriptions with TON 🥳
https://fragment.com/premium

TON Connect

The Open Network pretends to have a unified way for communication between TON wallets and TON apps to achieve following goals:

— Any TON app can be operated by any TON wallet. No matter web or desktop application, mobile wallet, hardware wallet or browser extension — all need to be compatible with each other and communicate using the same protocol.

— Users get a familiar and friendly experience across all TON apps. The user should not be required to do anything more complicated than click a link or scan a QR code to connect the wallet.

The Tonkeeper team did a great job developing TON Connect that solves these problems in a decentralized way.

TON community developers please participate in the open discussion about TON Connect before it becomes a network-wide standard. If you find any shortcomings or weaknesses of the proposed solution please report it.

TEP discussion »

Submissions for the TON Awards 2022 will close on March 1, 12:00 UTC.

You can send a submission on GitHub.

Community proposal for tokenomics optimization has been approved — more than 75% of validators voted for it in two consequent rounds.

171 inactive early miners' wallets with a total balance of 1,081,389,417 TON (more than 20% of the total supply) will not be able to become activated until February 21, 2027, 09:00 UTC.

This decision is going to provide additional clarity regarding Toncoin tokenomics and increase predictability for the network participants. In combination it will contribute to the further growth of the TON ecosystem.

It’s great to see how the TON community creates new self-government tools. Orbs team recently performed a preliminary informational voting at ton.vote for the last proposal to improve tokenomics allowing all network users to participate and show validators their preferences.

Now it's time for validators to make a choice.

TON validators, please participate in the voting for the community proposal for tokenomics optimization as described in the @tonstatus channel.