The Reference · Settlement network
TON.
Gram (formerly Toncoin) · 2018 design · community mainnet 2021. The Open Network: the high-throughput chain originally designed at Telegram, continued by its community, and distinguished by native distribution into Telegram's near-billion-user platform through mini-apps and wallet integration. In June 2026 its token was renamed by community vote from Toncoin back to Gram — the name from Telegram's original design.
The institutional read
TON's asset is distribution no other network has: applications reach Telegram's audience without an install. The firm's portfolio has operated here at scale — consumer rewards distribution through Telegram mini-apps, and the Flashy Network layer-2 built on TON.
Engagement record
Portfolio company Flashy launched the Claim Your Gold Telegram Mini App, distributing its rewards ecosystem natively into Telegram's platform — and acquired Grami.io, the TON layer-2 rebranded as Flashy Network.
Where this network appears in the firm's work