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The world's largest cryptocurrency exchange, Binance, officially announced support for the renaming of Toncoin (TON) to Gram (GRAM). The swap of tokens linked to the popular messaging app Telegram on Binance will take place automatically at a 1:1 ratio, while all trading operations, deposits and withdrawals will be moved to the new ticker between June 23 and July 2.
A full halt of trading with the old TON token and the launch of new GRAM spot pairs will be completed in early July, while the exchange will fully handle all technical requirements for the integration.
Earlier, the TON community voted to return the coin's historical name, with 81.22% of blockchain users supporting the decision. The update in the network itself will take effect on June 15, after which trading platforms will begin changing tickers.
Goodbye Toncoin, welcome back GRAM
The return to the roots carries deep symbolic meaning for the ecosystem, since the project was originally created by brothers Nikolai and Pavel Durov as Telegram Open Network, and its native coin was supposed to be Gram.
However, after Telegram's team was forced to leave the project in 2020 under pressure from the U.S. regulators, the SEC specifically, the network was handed over to an independent community of developers, who renamed the project The Open Network and the coin Toncoin.
In this case, the current vote effectively restores historical justice and the original brand laid down by the creators of the Telegram messenger.
But bringing back the old name is proving to be a complex task for the market. While major platforms are already preparing for the swap, different venues are handling the technical transition in their own ways.
While Binance is supporting the rebrand, in the decentralized space, particularly on the Hyperliquid platform, validators will vote on the possible delisting of TON. This looks contradictory, especially as TON ecosystem developers stress that the rebrand is cosmetic in nature.
Dan Burgin
U.Today Editorial Team
