Gram (prev. Toncoin)
GRAM
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
GRAM (The Open Network, previously Toncoin) presents a mixed profile following its governance-approved 1:1 on-chain rename in June 2026. On the positive side, active development remains solid (score 7.0/10) with steady core repository updates, a structured 2026 roadmap (Rust Node v1, TON Factory, TON Pay 2.0), and top-tier liquidity and exchange support (market score 7.5/10) backed by its deep Telegram ecosystem integration. However, these strengths are heavily counterbalanced by severe structural and tokenomic risks: extreme validator centralization (Nakamoto coefficient of 2), a 47.6% non-circulating supply overhang, low community voter turnout (<1%), and an unrecovered ~84% drawdown from its all-time high of $8.25. While historical SEC regulatory actions against the original 2018-2020 Telegram token sale were settled with investor refunds and do not qualify as active red-flag capping events, the asset carries substantial governance and centralization overhang. No section data gaps were present.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Gram (prev. Toncoin) (GRAM)
Gram (GRAM), previously known as Toncoin (TON), is the native cryptocurrency of The Open Network (TON), following a governance-approved 1:1 on-chain rename effective June 15, 2026. Operating as a Layer-1 proof-of-stake blockchain, the network provides execution infrastructure for decentralized applications, native payments, and mini-apps integrated with the Telegram messaging platform. Within the network, GRAM functions as the primary economic asset used to pay network gas fees, participate in staking and on-chain governance, and settle transactions across ecosystem applications.
The project's active development includes technical milestones such as Rust Node v1, TON Factory, and TON Pay 2.0, alongside the scheduled deprecation of its legacy bridge in September 2026. The tokenomics model incorporates an infinite maximum supply with an estimated 3.6% annual inflation rate driven by validator rewards, partially balanced by a fee burn mechanism. Out of a total supply of roughly 5.24 billion tokens, non-circulating supply constitutes approximately 47.6%, with roughly 2.77 billion to 2.8 billion tokens in active circulation.
GRAM and The Open Network are subject to notable structural, legal, and market risks. The project originates from a 2018 Telegram-backed token offering that was halted by U.S. SEC enforcement actions, resulting in settlements, investor refunds, and Telegram's formal withdrawal before the open-source codebase was revived by the TON Foundation. Key-person and legal risks resurfaced following the August 2024 arrest of Telegram founder Pavel Durov in France. Furthermore, the network exhibits severe validator centralization with a Nakamoto coefficient of 2, while voter turnout in on-chain governance remains below 1% of the holder base. Market performance has also experienced severe downward pressure, with the token trading at an approximate 83% to 84% drawdown from its all-time high of $8.25.