To enhance the growth of the TON community through the native token Toncoin, Singapore-based crypto exchange Bit.com has rolled out a savings product.
“By supporting the TON blockchain, Toncoin’s on-chain deposit and withdrawal fees will be much more affordable. Together with the 200% APY rewards, we believe this will contribute to the TON community growth in member numbers and user confidence.”
As part of Bit.com’s Rebalancing Market Maker (RMM) strategy, Toncoin is paired with Tether (USDT), and by mid-May this year, it had attracted at least $665,000 in investments.
The RMM strategy was coined to ease crypto investment because users can gain rebalancing premiums.
Since TON is a community-driven blockchain project, the Toncoin savings product is deemed a stepping stone toward more growth in the ecosystem.
TON, which stands for “The Open Network,” is a third-generation proof-of-stake (PoS) blockchain designed in 2018 by the Durov brothers, who founded Telegram Messenger. The...
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