A Short Introduction to Tokens on The Open Network

We often talk about the native token of The Open Network, Toncoin (TON). But did you know there are dozens of tokens and coins besides TON?

The Open Network is not just about promoting digital ownership and bringing blockchain to Telegram; it’s also focused on developing real-world Web3 use cases within its ecosystem. A key area of focus is Decentralized Finance (DeFi), which hinges on the ability to create different fungible and non-fungible tokens (Jettons and Collectibles) on the blockchain.

TON offers the ideal environment for creating and using all types of digital tokens, ensuring you have full control and can maximize value within the ecosystem.

Jettons

The TON Jetton token standard, finalized in March 2022, allows developers to create their own unique cryptocurrencies, known as ‘Jettons,’ on TON Blockchain. Just as Ethereum supports various tokens like SHIBA, USDT, and USDC alongside its native ETH, TON Blockchain, with Toncoin (TON) as its native asset, hosts a range of unique jettons such as PUNK, BOLT, and STON.

Jettons on TON have various use cases beyond acting as transactional mediums or simple monetary assets, including:

• Ecosystem development: Jettons are crucial in building micro-ecosystems around various products within the TON Ecosystem, fostering more cohesive and engaged communities centered around shared interests.
• User incentivization: They incentivize user participation in projects, rewarding engagement and contribution to the TON project community.
• Rights representation: Jettons can represent more than monetary value; they might symbolize rights like access to specific services or shares in a project. For example, PUNK allows you to participate in closed tournaments within TON Punks, whereas STON lets you hold exclusive digital Collectibles.

TON App provides a comprehensive list for those interested in exploring jettons on TON. It offers insights into trading volumes, price fluctuations, and coin distribution. TON Ecosystem anticipates the introduction of many more Jettons soon, especially in areas like NFT gaming and TON-based services.

This expansion is being made even easier by the launch of Tokenova, a user-friendly, no-code Jetton self-launch platform on TON.

Buy Jettons

Purchasing Jettons is straightforward and fast. You can buy them directly within Telegram via TON Space using Wallet in Telegram, or through various exchanges, including STON.fi or DeDust.

Store Jettons

Storing TON Jettons has become even more user-friendly; they can now be directly stored in major TON wallets like Tonkeeper and TON Space in Telegram. This approach is much more convenient than platforms like MetaMask, where you must manually import all your wrapped tokens.

Collectibles

Unlike jettons, which are fungible, Collectibles are unique or ‘non-fungible’ digital assets. These assets can vary from digital art to rare items, each possessing distinct characteristics and value. Collectibles grant users complete ownership rights over the items they represent. For example, each Telegram username and virtual phone number available on Fragment counts as a unique digital Collectible.

Collectibles within the TON Ecosystem are more than just pieces of digital art; they offer a range of functionalities, including:

• Trading utility: Collectibles act as tradeable digital assets, enabling users to buy, sell, and exchange them within the TON Ecosystem.
• Exclusive access: Collectibles can grant special privileges like ticketing or access to exclusive events.
• Gaming integration: These tokens can be used in GameFi, allowing players to interact with blockchain-based games on TON.

TON supports two advanced NFT standards besides the usual Collectible formats: the Soulbound Token (SBT) and the Compressed NFT (cNFT). SBTs are non-transferable tokens ideal for social permissions or certifications, such as marketplace discounts or university certificates.

Meanwhile, the cNFT standard, featured in Egg Fight Club on Getgems, supports the creation of massive NFT collections, accommodating up to a billion elements, making it especially suitable for gaming competitions.

TON Ecosystem offers many NFT marketplaces and services. The simplest way to buy Collectibles on TON is through leading marketplaces like TON Diamonds or GetGems. Here, you can effortlessly connect your TON wallet to make purchases. You can also directly store your Collectibles in all major TON wallets, including Tonkeeper and TON Space.

Conclusion

Tokens, both fungible and non-fungible, are essential to the TON Ecosystem. TON’s Telegram-based user-friendly interfaces for purchasing and storing digital assets and its diverse marketplace options reflect its mission to democratize digital ownership and put crypto in every pocket.

As the network continues to expand and evolve, the potential and utility of these tokens are expected to grow, creating exciting opportunities for both users and developers.