Gram (prev. Toncoin) (GRAM): What It Is, Uses and Risks

Gram (GRAM) is the new name for Toncoin, the native token of The Open Network, usually shortened to TON. According to the rebranding announcements, it is the same asset under a new name: the TON community approved a proposal to rename it in 2026, and nothing else about the token was reported to have changed. Many exchanges and data sites now list it as "Gram (prev. Toncoin)".

TON is a general-purpose, proof-of-stake layer 1 blockchain. Developers use it to build decentralized apps and issue tokens, and it has close ties to the Telegram messenger. The network began as a Telegram project. Telegram stepped back in 2020, and an independent community of developers carried the technology forward.

The name is not new to the story. "Gram" was the name of the token Telegram's team originally planned for its blockchain. The 2026 rename brings that early name back for the coin that TON uses today.

At the time of writing, GRAM ranks around 32nd by market capitalization.

GRAM is the base currency of the TON network. Public sources say it is used to pay for several kinds of network cost: transaction fees, computation, persistent data storage and network traffic. Anyone who sends a transaction or interacts with a smart contract on TON needs a small amount of it to cover those fees.

The token also secures the chain. TON uses proof-of-stake, so validators lock up GRAM to take part in producing blocks, and ordinary holders can stake through validator pools or nominator arrangements. Descriptions of the token also say that holders can take part in governance decisions that affect the network, such as protocol parameters.

Beyond that, GRAM works as the main unit of account across TON apps. Wallets, decentralized exchanges, games and Telegram mini apps commonly price things in it or require it for fees. How much of this activity is organic demand and how much is speculation is hard to judge from outside, so treat usage claims with some caution.

GRAM has no fixed maximum supply, and the data shows no hard cap. As of 2026-11-05, about 2.85 billion GRAM were circulating, out of a total supply of roughly 5.28 billion. That means a large share of the existing supply is not yet counted as liquid, and the data does not say how or when it might become so.

The gap shows up in the valuation figures. At about $1.14 per token, the market capitalization was around $3.24 billion, while the fully diluted valuation, which counts the total supply, was about $5.99 billion. Price, market cap and supply change constantly, so treat these as a snapshot, not a current quote.

The data given here does not describe a detailed emission schedule, inflation rate, or the exact allocation between early holders, validators and the community. If you want to understand dilution, check the project's own documentation and a block explorer for the latest figures on staking rewards, burned fees and locked supply.

GRAM is the native asset of the TON blockchain, where it is held and moved directly. It is also issued in wrapped or bridged form on Ethereum and BNB Chain, which lets it be traded on venues and in apps on those networks. A bridged token is a representation backed by the original, so it adds bridge and issuer risk on top of the usual token risk.

Most people hold GRAM in a TON-compatible wallet. Options include Telegram's built-in wallet and standalone apps such as Tonkeeper, along with some hardware wallet integrations. Check that your chosen wallet supports the TON network specifically.

Trading mostly happens on centralized exchanges, where GRAM trades against stablecoins and major coins, and on decentralized exchanges built on TON. At the time of writing, the 24-hour trading volume was about $30.4 million, modest next to the market cap. Liquidity can differ widely between venues and between native and bridged versions, so check which version of the token you are actually buying or receiving.

TON's roots go back to 2018 and 2019, when Telegram's founders designed a blockchain and a token called Gram. The project drew heavy investor interest, but US regulators challenged the token sale, and Telegram withdrew from the project in 2020. Independent developers then took the open-source code and continued it as The Open Network, with the coin known as Toncoin.

The token's price history has been volatile. The all-time low in the data was about $0.52 on 2021-09-20, and the all-time high was about $8.25 on 2024-06-14. As of 2026-11-05, the price was roughly 86 percent below that peak, down about 5 percent over seven days and about 39 percent over one year.

The most recent notable event is the 2026 rename from Toncoin to Gram, approved through a community proposal. Reports at the time described it as a naming change, not a change to the technology or supply. Some data aggregators also carry an "alleged securities" tag on the token, a reminder that its regulatory treatment has not been settled everywhere.

GRAM carries the risks common to large altcoins, plus a few of its own.

Price volatility. The drop from its 2024 high and the loss over the past year show how far the price can swing. Holding any amount means accepting that you could lose much of its value.

Dependence on Telegram. TON's growth story is closely linked to Telegram's user base and mini apps. Changes in Telegram's policies, or regulatory pressure on the company, could affect the ecosystem.

Supply and dilution. With no maximum supply and a large gap between circulating and total supply, new tokens reaching the market could weigh on the price.

Regulatory uncertainty. The token's origins involved a securities dispute, and some data sources still flag it as an alleged security. Rules may differ by country and change over time.

Technical and bridge risk. Smart contracts, bridges and wrapped versions on Ethereum and BNB Chain can fail or be exploited.

Rename confusion. Scammers sometimes exploit rebrandings with fake swap sites or airdrops. Since the rename needs no action from holders in most cases, be suspicious of anyone asking you to migrate tokens.

This page is not financial advice and makes no price predictions.

Where you keep GRAM depends on how much you hold and how often you use it. Leaving it on an exchange is convenient for trading, but you rely on the exchange's security and solvency, and you do not control the private keys.

For longer-term holding, a self-custody wallet that supports TON gives you control of the keys. Write down the recovery phrase on paper, store it offline in more than one safe place, and never type it into a website, share it in a chat or photograph it. No legitimate support team will ask for it.

Before sending a large amount, send a small test transaction to confirm the address and network. Pay attention to the network: sending GRAM to an address on the wrong chain can result in lost funds. Be careful with the wrapped versions on Ethereum and BNB Chain, which use those networks' addresses, not TON addresses.

Keep wallet software up to date, download apps only from official sources, and treat unsolicited messages about the rename, airdrops or wallet migrations as likely scams. Review the permissions you give to any dApp and revoke those you no longer use.