Gram (The Open Network / GRAM) 是公有 Layer 1（L1）區塊鏈「The Open Network（TON）」的原生資產（native asset），用於支付網路交易手續費（gas）、參與 staking 以及 on-chain governance。它採用 Proof-of-Stake（PoS）共識，並以 dynamic sharding（動態分片）與非同步（asynchronous）智能合約架構為核心設計，目標是支撐大規模、低費用的鏈上應用。GRAM 目前並非新發行的代幣，而是原本的 Toncoin（TON）在 2026 年更名後的名稱——區塊鏈本身、餘額、地址與交易歷史皆維持不變。

「Gram」這個名稱與 Telegram 的淵源可追溯至 2018 年：當年 Telegram 團隊開發 The Open Network 時，原本就規劃將原生代幣命名為「Gram」，後因監管因素（詳見下文 SEC 訴訟）未能依原計畫上線。2026 年 6 月，TON 社群透過鏈上治理投票，決議把原生資產由 Toncoin 更名為 Gram、ticker 由 TON 改為 GRAM，等於恢復了專案最初的命名。此次變更為「更名（rename / rebrand）」而非發行新資產：不涉及任何 token swap、遷移（migration）、跨鏈橋接（bridge）或換幣（claim）程序，持有人無須採取任何動作。 官方與各交易所也提醒，任何要求「轉換」或「遷移」TON 代幣的訊息都應視為詐騙。

GRAM 的核心特色

1. 高效能的 L1 架構：dynamic sharding 與非同步智能合約

The Open Network 採 actor model（行動者模型）並行處理交易，透過所謂「Infinite Sharding Paradigm（無限分片範式）」動態運作：當交易量超過門檻時將 workchain 自動分裂（split）為更多 shardchain，交易量下降時再合併（merge），以維持吞吐量。其智能合約採非同步執行模型，合約之間以訊息（message）互動。網路由 masterchain（協調驗證者節點）與多條 workchain（處理智能合約與 dApp 請求、並再切分為 shard）組成，合約運行於堆疊式的 TON Virtual Machine（TVM）。依 2026 年 4 月的 Catchain 2.0 升級之公開報導，區塊時間由約 2.5 秒縮短至約 400 毫秒、finality（最終性）縮短至約 1 秒（技術報導所述數據，實際表現受網路狀況影響）。

2. 與 Telegram 深度整合的分發（distribution）優勢

The Open Network 最初由 Telegram 團隊構思，其最大特色之一是與 Telegram 訊息平台的深度整合：透過 Mini Apps、TON Connect、內建錢包與支付等機制，開發者的應用可直接觸及 Telegram 的使用者。2026 年 4–5 月，Telegram 宣布以「Make TON Great Again（MTONGA）」計畫接手原由 TON Foundation 承擔的主要職責，並成為網路上最大的 validator（具體 staking 數量各方報導不一，宜以官方最新揭露為準）。

3. GRAM 的原生用途：gas、staking 與 governance

作為 The Open Network 的原生資產，GRAM 用於支付鏈上交易手續費（gas）、供 validator 與委託者進行 staking 以維護網路安全並獲取獎勵，以及參與 on-chain governance（此次更名本身即透過鏈上治理投票決定）。依官網公開資訊，GRAM 轉帳費用約為 0.00039 GRAM、USDt 轉帳費用約 0.001 GRAM，且宣稱手續費為固定、不隨網路負載變動。

GRAM 的用途是什麼？

• 支付交易手續費（gas）：在 The Open Network 上執行轉帳、部署與呼叫智能合約時支付網路費用。
• Staking（質押）：validator 與委託者質押 GRAM 以參與 PoS 共識、維護網路安全並獲取獎勵。
• On-chain governance（鏈上治理）：持有者可參與治理提案與投票（本次由 Toncoin 更名為 Gram 即為一例）。
• 生態應用內的價值媒介：用於 TON 生態中的支付、DeFi、Mini Apps、NFT 與 Jetton 等場景。
• 周邊服務：與 TON DNS（將地址轉為可讀名稱）、TON Storage、TON Proxy／Sites 等網路服務搭配使用。

發展里程碑與代幣經濟

• 2018 年：Telegram 團隊開發 The Open Network，原生代幣原規劃命名為「Gram」，並進行私募（詳見風險與爭議段落）。
• 2020 年：Telegram 因 SEC 訴訟停止其 TON 專案；開源社群其後接手，以「The Open Network」之名延續，原生代幣命名為 Toncoin（TON）。
• 2024 年 4–5 月（更名前後脈絡）：Telegram 以 MTONGA 計畫接手 TON Foundation 主要職責，並宣布成為網路最大 validator（報導時點約 2026 年 4–5 月）。
• 2026 年 6 月 1–8 日：社群治理投票舉行，於 6 月 8 日結束，約 81.22% 參與投票權重支持將 Toncoin 更名為 Gram、ticker 由 TON 改為 GRAM。
• 2026 年 6 月 15 日：更名正式生效。此為 presentation-layer（呈現層）的名稱與 ticker 變更，餘額、地址、智能合約、staking 部位、NFT、Jetton 與 DeFi 部位皆維持不變，無須 token swap／遷移／橋接／換幣。
• 2026 年 7 月 2 日：Binance 完成 TON 至 GRAM 的過渡，開放 GRAM 存提（各交易所與錢包於數週內陸續完成標籤更新）。
• 代幣經濟：GRAM/TON 無硬性供給上限（max supply 為無限大），採通膨式增發（inflationary），以支付 staking 獎勵；依 CoinGecko 於 2026/09/22 之資料，流通供給約 2.81 億…（見下）。註：GRAM 為 The Open Network 之原生資產（L1 gas token），與部分資料所列的 BNB Smart Chain 上之封裝／代表性合約地址（wrapped 版本）不同，勿混淆。

供給數據（資料時點 2026/09/22，來源 CoinGecko）：流通供給約 2,810,740,733 GRAM（約 2.81B）、總供給約 5.25B、最大供給為 ∞（無上限）；市場所引用之年通膨率約落在 1.3%–1.4% 區間（不同資料來源略有差異，宜以鏈上實際數據為準）。

投資 GRAM 需留意的市場隱患與重要風險揭露

以下數據截取日期：2026/09/22（市場數據來源為 CoinGecko，加密資產價格波動劇烈，數據會隨時間變動；投資前請自行查證最新資訊）。截至該時點，GRAM 價格約 US$1.44、市值約 US$4.05B（CoinGecko 排名約 #31）、24 小時交易量約 US$77.3M、fully diluted valuation（FDV）約 US$7.57B；歷史最高價 US$8.25（2024/06/14）、歷史最低價 US$0.5194（2021/09/20），現價較歷史高點約 -82.5%。

• 與 Telegram 高度綁定的單點依賴風險：
  The Open Network 的分發優勢高度倚賴 Telegram 平台。2026 年 Telegram 更進一步接手主導權並成為最大 validator，這雖強化整合，但也意味著網路的發展、聲譽與治理與單一企業高度連動；Telegram 的營運、法遵、監管或人事變動，都可能對 GRAM 造成連帶影響。
• 監管與法律歷史風險：
  2019–2020 年，美國 SEC 對 Telegram Group Inc. 及 TON Issuer Inc. 提起訴訟，主張其 2018 年「Gram」代幣銷售構成未登記證券發行，最終以和解與退還投資款收場（詳見下段）。此一歷史顯示，該資產在部分司法管轄區的法律定性曾具高度爭議；加密資產之監管環境持續演變，未來政策變化仍可能影響其流通與交易。CoinGecko 亦將其標記為「Alleged SEC Securities」類別。
• 供給無上限與通膨稀釋風險：
  GRAM/TON 無硬性供給上限、採通膨式增發以支付 staking 獎勵，長期而言可能對未進行 staking 的持有者形成稀釋效應；供給與通膨參數若經治理調整，亦會影響代幣經濟。
• 驗證者集中度（validator concentration）風險：
  Telegram 成為網路「最大 validator」與主要推動者，可能使驗證權力與治理影響力趨於集中，削弱去中心化程度，並帶來潛在的單點失效或治理被少數方主導之疑慮。
• 更名造成的市場混淆風險：
  由 Toncoin/TON 更名為 Gram/GRAM 期間，交易所、錢包與資料平台的標籤更新時程不一，且「更名不需遷移」的事實可能被詐騙者利用（假冒「換幣／遷移」誘導轉帳）。使用者若誤信不實訊息，恐面臨資產損失。
• 價格波動與流動性風險：
  如上所示，GRAM 過去一年價格波動顯著、距歷史高點跌幅可觀，加密資產普遍具高波動性，投資本金可能大幅減損。

近期爭議事件：

• **2019–2020 年 SEC v. Telegram：**2019 年 10 月，美國 SEC 對 Telegram Group Inc. 與 TON Issuer Inc. 提起訴訟，指控其 2018 年約 17 億美元的「Gram」代幣私募為未登記證券發行。2020 年 3 月，紐約南區聯邦地方法院核發初步禁制令（preliminary injunction）；同年 5 月，Telegram 宣布停止其 TON 專案。2020 年 6 月，雙方達成和解並經法院核准（法官 P. Kevin Castel，2020/06/26）：Telegram 須支付 1,850 萬美元民事罰款、負擔約 12.24 億美元的 disgorgement（可由退還買家之款項抵充，實際退還投資人約 12 億美元），並須於其後三年內若擬發行新數位資產須通知 SEC。此案為此後開源社群以「The Open Network」之名延續該鏈、並將原生代幣命名為 Toncoin 的重要背景。
• **2026 年 Telegram 主導權與更名爭論：**2026 年 Telegram 接手原 TON Foundation 主要職責、成為最大 validator，以及社群投票將 Toncoin 更名為 GRAM，均在社群內引發關於「去中心化程度是否倒退」「品牌與資產識別是否造成混淆」的討論；儘管更名獲約 81.22% 參與投票權重支持，仍有反對與保留意見。
• 整體而言，上述事件反映該資產在監管定性、治理集中度與品牌沿革上曾歷經重大變動。投資人與使用者應以官方最新公告、監理機關規範及可查證之鏈上／公開資料為準，審慎評估自身所在司法管轄區的合規要求後再行決策。

總結

GRAM 是 The Open Network（TON）這條 Proof-of-Stake Layer 1 區塊鏈的原生資產，由原本的 Toncoin（TON）於 2026 年 6 月經社群治理投票（約 81.22% 支持）更名而來，並於 2026 年 6 月 15 日生效。此為單純的名稱與 ticker 變更，區塊鏈、餘額、地址與合約皆不變，且無須任何 token swap、遷移、橋接或換幣。其技術特色在於 dynamic sharding、非同步智能合約與低固定手續費，最大優勢則是與 Telegram 平台的深度整合與分發能力。與此同時，投資與使用 GRAM 亦須正視其與 Telegram 的高度綁定、驗證者集中度、供給通膨、歷史監管訴訟以及價格高波動等風險。本文所有數據均標明時點，讀者應自行查證最新資訊並審慎評估。

參考資料與官方連結

• The Open Network 官方網站：https://ton.org/
• TON 開發者文件（Docs）：https://docs.ton.org/
• TON 區塊鏈分片說明（Infinite Sharding Paradigm）：https://docs.ton.org/v3/documentation/smart-contracts/shards/infinity-sharding-paradigm
• CoinGecko（Gram，前 Toncoin）：https://www.coingecko.com/en/coins/gram
• CoinMarketCap（Toncoin / Gram）：https://coinmarketcap.com/currencies/toncoin/
• 美國 SEC 新聞稿（2020/06/26，Telegram 退還 12 億美元並繳納 1,850 萬美元罰款）：https://www.sec.gov/newsroom/press-releases/2020-146
• Binance Academy〈What Is the TON to GRAM Rebrand?〉：https://academy.binance.com/en/articles/what-is-the-ton-to-gram-rebrand
• 立即在 MaiCoin 買賣 GRAM：https://www.maicoin.com/market/GRAM
• 立即在 MAX 交易所買賣 GRAM：https://max.maicoin.com/trade/gramtwd

免責聲明：本文僅供資訊參考，不構成任何投資、財務、法律或稅務建議，亦非買賣要約或招攬。加密資產價格波動劇烈，可能導致本金全部損失。投資人應自行研究（DYOR）並審慎評估風險，必要時諮詢專業意見。

What is GRAM (The Open Network)? Understanding the TON Native Asset Renamed from Toncoin

Gram (The Open Network / GRAM) is the native asset of “The Open Network (TON),” a public Layer 1 (L1) blockchain. It is used to pay network transaction fees (gas), participate in staking, and take part in on-chain governance. The network runs on a Proof-of-Stake (PoS) consensus and is built around dynamic sharding and an asynchronous smart-contract architecture, aiming to support large-scale, low-fee on-chain applications. GRAM is not a newly issued token — it is simply the new name for the former Toncoin (TON) following a 2026 rebrand. The underlying blockchain, balances, addresses, and transaction history all remain unchanged.

The name “Gram” traces back to Telegram’s involvement in 2018: when the Telegram team originally developed The Open Network, the native token was intended to be called “Gram,” but it did not launch as planned due to regulatory circumstances (see the SEC litigation below). In June 2026, the TON community used an on-chain governance vote to rename the native asset from Toncoin to Gram and change the ticker from TON to GRAM — effectively restoring the project’s original intended name. This change is a rename/rebrand, not the issuance of a new asset: it involves no token swap, migration, bridge, or claim process, and holders need to take no action. Official sources and exchanges caution that any message asking you to “convert” or “migrate” your TON tokens should be treated as suspicious (a caution issued by official channels and exchanges).

GRAM’s Core Features

1. A high-performance L1: dynamic sharding and asynchronous smart contracts

The Open Network uses an actor model to process transactions in parallel, operating under what it calls the “Infinite Sharding Paradigm”: when transaction volume exceeds a threshold, workchains automatically split into more shardchains, and merge again when volume falls. Its smart contracts use an asynchronous execution model, with contracts interacting via messages. The network consists of a masterchain (coordinating validator nodes) and multiple workchains (handling smart-contract and dApp requests, further divided into shards), with contracts running on the stack-based TON Virtual Machine (TVM). According to public reports on the April 2026 Catchain 2.0 upgrade, block times were reduced from roughly 2.5 seconds to about 400 milliseconds, with finality of around 1 second (figures as stated by the project/technical reporting; actual performance depends on network conditions).

2. Deep integration with Telegram for distribution

The Open Network was originally conceived by the Telegram team, and one of its distinguishing features is deep integration with the Telegram messaging platform: through Mini Apps, TON Connect, built-in wallets, and payments, developers’ applications can reach Telegram users directly. In April–May 2026, Telegram announced that under its “Make TON Great Again (MTONGA)” program it would take over the primary responsibilities previously held by the TON Foundation and become the network’s largest validator (this is a public announcement by Telegram/the project; reported staking figures vary across sources, so the latest official disclosures should be relied upon).

3. GRAM’s native uses: gas, staking, and governance

As the native asset of The Open Network, GRAM is used to pay on-chain transaction fees (gas), for staking by validators and delegators to secure the network and earn rewards, and to participate in on-chain governance (this rebrand itself was decided via an on-chain governance vote). According to public information on the official website, GRAM transfers cost about 0.00039 GRAM and USDt transfers about 0.001 GRAM, and fees are claimed to be fixed and independent of network load (as stated by the project).

What Is GRAM Used For?

• Paying transaction fees (gas): covering network fees for transfers and for deploying and calling smart contracts on The Open Network.
• Staking: validators and delegators stake GRAM to participate in PoS consensus, secure the network, and earn rewards.
• On-chain governance: holders can take part in governance proposals and voting (the Toncoin-to-Gram rename being one example).
• A medium of value within the ecosystem: used across TON’s payments, DeFi, Mini Apps, NFT, and Jetton use cases.
• Ancillary services: used alongside network services such as TON DNS, TON Storage, and TON Proxy/Sites.

Development Milestones and Tokenomics

• 2018: The Telegram team develops The Open Network; the native token is originally planned to be named “Gram,” and a private sale is conducted (see the risk and controversy sections).
• 2020: Telegram halts its TON project due to the SEC litigation; the open-source community subsequently continues the project as “The Open Network,” with the native token named Toncoin (TON).
• April–May 2026 (context around the rebrand): Telegram takes over the TON Foundation’s primary responsibilities under the MTONGA program and announces it has become the network’s largest validator (reported around April–May 2026).
• June 1–8, 2026: A community governance vote is held, concluding on June 8, with roughly 81.22% of participating voting power supporting the rename of Toncoin to Gram and the ticker change from TON to GRAM.
• June 15, 2026: The rename takes effect. This is a presentation-layer name and ticker change; balances, addresses, smart contracts, staking positions, NFTs, Jettons, and DeFi positions all remain unchanged, with no token swap, migration, bridge, or claim required.
• July 2, 2026: Binance completes its transition from TON to GRAM and opens GRAM deposits and withdrawals (other exchanges and wallets update labels over the following weeks).
• Tokenomics: GRAM/TON has no hard supply cap (max supply is infinite) and uses inflationary issuance to fund staking rewards. Note: GRAM is the native L1 gas asset of The Open Network and should not be confused with wrapped/representative contract addresses on other chains (e.g., BNB Smart Chain).

Supply data (as of 2026/09/22, source: CoinGecko): circulating supply of about 2,810,740,733 GRAM (~2.81B), total supply of about 5.25B, and max supply of ∞ (no cap); the annual inflation rate cited by the market falls roughly in the 1.3%–1.4% range (figures vary by source; actual on-chain data should be relied upon).

Key Market Concerns and Important Risk Disclosures for Investing in GRAM

Data cutoff date: 2026/09/22 (market data sourced from CoinGecko; crypto-asset prices are highly volatile and data changes over time — please verify the latest information before investing). As of that date, GRAM traded at about US$1.44, with a market cap of about US$4.05B (CoinGecko rank ~#31), 24-hour trading volume of about US$77.3M, and a fully diluted valuation (FDV) of about US$7.57B; its all-time high was US$8.25 (2024/06/14) and all-time low US$0.5194 (2021/09/20), currently about -82.5% below its peak.

• Single-point dependency risk from heavy reliance on Telegram:
  The Open Network’s distribution advantage relies heavily on the Telegram platform. In 2026, Telegram further assumed leadership and became the largest validator; while this deepens integration, it also means the network’s development, reputation, and governance are highly correlated with a single company. Any operational, compliance, regulatory, or personnel changes at Telegram could have knock-on effects on GRAM.
• Regulatory and legal-history risk:
  In 2019–2020, the U.S. SEC sued Telegram Group Inc. and TON Issuer Inc., alleging that its 2018 “Gram” token sale constituted an unregistered securities offering; the matter ended in a settlement and return of investor funds (see below). This history shows the asset’s legal characterization has been highly contested in some jurisdictions, and the evolving regulatory environment for crypto assets may affect its circulation and trading. CoinGecko also labels it under an “Alleged SEC Securities” category.
• Uncapped supply and inflationary dilution risk:
  GRAM/TON has no hard supply cap and uses inflationary issuance to fund staking rewards, which over the long term may dilute holders who do not stake; changes to supply and inflation parameters via governance would also affect its tokenomics.
• Validator concentration risk:
  Telegram becoming the network’s “largest validator” and primary driver may concentrate validation power and governance influence, potentially reducing decentralization and raising concerns about single points of failure or governance capture by a few parties.
• Market-confusion risk from the rebrand:
  During the transition from Toncoin/TON to Gram/GRAM, exchanges, wallets, and data platforms updated labels on different timelines, and the fact that “no migration is required” can be exploited by scammers (impersonating “conversion/migration” flows to induce transfers). Users who trust false messages may suffer asset losses.
• Price-volatility and liquidity risk:
  As shown above, GRAM has seen significant price swings over the past year and a substantial drawdown from its all-time high; crypto assets are generally highly volatile, and invested capital may be significantly impaired.

Recent Controversies:

• 2019–2020 SEC v. Telegram: In October 2019, the U.S. SEC sued Telegram Group Inc. and TON Issuer Inc., alleging that its roughly US$1.7 billion 2018 “Gram” token private sale was an unregistered securities offering. In March 2020, the U.S. District Court for the Southern District of New York issued a preliminary injunction; in May 2020, Telegram announced it was shutting down its TON project. In June 2020, the parties reached a court-approved settlement (Judge P. Kevin Castel, 2020/06/26): Telegram was to pay an US$18.5 million civil penalty and bear disgorgement of about US$1.224 billion (offset by funds returned to buyers, amounting to roughly US$1.2 billion returned to investors), and to notify the SEC of any new digital-asset issuance for the following three years. This case is the key backdrop to the open-source community subsequently continuing the chain as “The Open Network” and naming its native token Toncoin.
• 2026 Telegram leadership and rebrand debate: In 2026, Telegram taking over the former TON Foundation’s primary responsibilities, becoming the largest validator, and the community vote to rename Toncoin to GRAM all sparked discussion within the community about whether decentralization was regressing and whether branding and asset identity were becoming confusing; although the rename secured about 81.22% of participating voting power, there were dissenting and cautious views.
• Overall, these events reflect significant changes in the asset’s regulatory characterization, governance concentration, and branding history. Investors and users should rely on the latest official announcements, regulatory rules, and verifiable on-chain/public data, and carefully assess the compliance requirements of their own jurisdiction before making decisions.

Summary

GRAM is the native asset of The Open Network (TON), a Proof-of-Stake Layer 1 blockchain. It was renamed from the former Toncoin (TON) via a community governance vote (about 81.22% support) in June 2026, taking effect on June 15, 2026. This is purely a name and ticker change — the blockchain, balances, addresses, and contracts are unchanged, and no token swap, migration, bridge, or claim is required. Its technical features center on dynamic sharding, asynchronous smart contracts, and low fixed fees, while its biggest advantage is deep integration with and distribution through the Telegram platform. At the same time, investing in and using GRAM requires acknowledging risks including its heavy reliance on Telegram, validator concentration, supply inflation, its regulatory litigation history, and high price volatility. All figures in this article are time-stamped; readers should verify the latest information and assess risks carefully.

References and Official Links

• The Open Network official website: https://ton.org/
• TON developer documentation (Docs): https://docs.ton.org/
• TON sharding explainer (Infinite Sharding Paradigm): https://docs.ton.org/v3/documentation/smart-contracts/shards/infinity-sharding-paradigm
• CoinGecko (Gram, prev. Toncoin): https://www.coingecko.com/en/coins/gram
• CoinMarketCap (Toncoin / Gram): https://coinmarketcap.com/currencies/toncoin/
• U.S. SEC press release (2020/06/26, Telegram to return $1.2B and pay $18.5M penalty): https://www.sec.gov/newsroom/press-releases/2020-146
• Binance Academy, “What Is the TON to GRAM Rebrand?”: https://academy.binance.com/en/articles/what-is-the-ton-to-gram-rebrand
• Buy and sell GRAM on MaiCoin: https://www.maicoin.com/market/GRAM
• Buy and sell GRAM on MAX Exchange: https://max.maicoin.com/trade/gramtwd

Disclaimer: This article is for informational reference only and does not constitute investment, financial, legal, or tax advice, nor an offer or solicitation to buy or sell. Crypto-asset prices are highly volatile and may result in the total loss of principal. Investors should do their own research (DYOR), carefully assess the risks, and consult professional advice where necessary.