Is TON alive?
September started out in hellfire for the crypto market, thanks to some localized pump-and-dumps that maxed out in 2 days and t…While the fire burned and the bodies fell and the locals ran for cover, very few noticed an out-of-nowhere listing of TON on several exchanges.
https://www.bithumb.pro/zh-cn/exchange/professional?q=TON-USDT
https://www.gate.io/trade/TON_USDT?k=300
https://uniswap.info/pair/0x4f1a2ea0c27f8fb01ebdeeecb1f09ee9187df191
Let’s just take a look-see at what exactly this “TON” is and who is behind it.
We start with gate.io - https://www.gate.io/startup/54
TON is the next-generation blockchain platform with a sharding multi-chain technology. Due to the efforts of previous Telegram team, TON is well supported by the Telegram, making it a more accessible blockchain platform for the 400-million users of Telegram. Because of the ban from SEC, Telegram had to stop TON in May, 2020. However, TON is too valuable to be abandoned. Now, it has been restarted by the community. In the plan of the community, TON will be redesigned to develop defi.
Hm, would ya look at that. So some community not only launched TON, but is also turning it into Defi. Amazing, albeit trendy.
Launch price: $0.03. 400 million tokens to be issued. Why? Who the heck knows. Maybe we should take a gander at the shining stars who launched it.
The team
Gram 50 wallet
https://play.google.com/store/apps/details?id=org.tginfo.telegram.messenger.wallet&hl=ru
An entire 233 users. Success by any measure, if of course you’re measuring blindfolded using the old artist’s rule of thumb from the other side of the room. Still, let's not judge these “innovators”.
Of course, users are complaining that nothing actually works, but who in their right mind would concern themselves with such petty little details. Didn’t you hear? DeFi awaits! Silly users. From nothing to being listed in 10 days. Now that’s brilliance. Critics? What do they know.
Unlike those silly Free TON people that have been dragging their feet for a year in development, losing valuable time, this group of talented prodigies took the bull by the horns like a teenager with the keys to the Corvette while mom and dad were out of town. Who knows? Maybe one day they’ll race Formula 1. You never know. Don’t tread on talent they say.
Too bad of course that there’s no website yet. Ugh. Stop it. Details, details. Why all the formalities?
Cyber Kid
In search of anything relevant we are met with cloaked genius. It happens.
TON Bus
Forget all that. Let’s move on to something far more revolutionary. Check out this Chinese site: https://tonbus.com/. Pay no attention to the lack of a safety certificate. That’s trivial. Once again, Defi awaits! DeFi and a decentralized Internet this time. The genie wants to grant you a wish and you dare question the magic lamp? Shame on you.
Of course all of their official websites direct you to Telegram. That’s probably some more of that sophisticated strategy we simpletons just refuse to recognize. Only wondering if Telegram knows anything about it.
Well they have a Github account. That’s good news. Bet we can see some truly awe-inspiring network development intensity there.
Aw, shucks. Link doesn’t work. That’s okay though. We know how to navigate Github.
https://github.com/toozwu/TONBUS
Sweet Mary, Joseph and baby, would you look at that. Chinese developers. All 2 of them.
Of course, we all know that quantity does not always mean quality.
28 commits. Last code written 14 months ago. Readme corrections 6 months ago. Yet they accurately predict Defi trends to the needlepoint. Amazing.
Unofficial programmers
Unknown bad boys. Such a shame they’re programmers and not engineers or developers. Still, it’s all a matter of taste after all.
Plans
Never mind. These two are obviously the dark horses in the race and no one sees it. Let’s bet their grand plan will open our eyes and cure us of our ills.
Hm. Testnet for now. Uh-huh. Mainnet a little later. Yes, I see where they’re going with this. Then later… the SEC? Well who the hell are the SEC anyway, right?
400 million Telegram users (well 450 million now as it were, why bother editing) will come to this DeFi. No joke! “If you build it they will come.” Perhaps the only question left to answer is how will they come without Telegram’s support? Ambition is a wonderful thing. So much so that it seems they are aiming way, way too low. 2 billion+ Facebook users sounds oh-so much better.
Token sale, baby! Token sale. That’s how.
Oh wait. Did our dark horses fail to launch a token in their own network and instead provide us with ETH addresses? Ay ay ay. Hang on dear friends. The coffee spilled. A moment of introspective meditation if you please.
Okay we’re back. Doubt has befallen our beloved virgin Shangri-La.
August was a hot month for our Dear Leader. The previous 6 months however, not so much. Prepare long, race fast.
https://bitnovosti.com/2020/05/30/kitajskoe-soobshhestvo-ton-zapustit-otdelnyj-blokchejn/
https://cointelegraph.com/news/chinas-ton-spin-off-launches-testnet-and-token-airdrop
Quote (translation):
Tooz Wu, the founder of the TON Community Blockchain explained that community-supported forks of TON were originally led by members from China and have since evolved, and are now supported by developers from several other countries.
So that is it. TON is apparently made up of developers from “other” countries under the strict tutelage of the Chinese People’s Party. Who would have guessed?
Unfortunately, we could not identify any more interesting factoids from gate.io to share with all of you. Moving on.
TON Community
Seemingly https://toncommunity.org/ is the source website for the project described below.
It does however have 30k users, which earns it respect.
Stealth mode from October of 2019 through June 6, 2020 as it inched closer and closer to the era of DeFi.
Github repository: https://github.com/toncommunity. 3 people. 3, Carl!
Clearly the time has come to hunt for everyone in Telegram. So many have once again missed the boat of virtuosity that lay before us.
https://github.com/TONCommunity/ton
https://github.com/TONCommunity/synthetix
First signs of DeFi life spotted, Doctor. A pure fork of one other notable project.
They even have projects on TON - https://toncommunity.org/projects.html
Quick, get the staff here immediately.
Wait! Hang on one sec, doc. Come back. Some of their sites don’t open and we don’t see any project support.
All their documentation is from the Durov brothers. Nothing new.
Dear-oh-dear. Perhaps another picture, one far clearer is beginning to form. Shall we?
Scam
A group of Chinese folks who we know from Telegram chats forked TON and then could not figure out how the hell it works. They then decided to just release an ERC20 token that works on the original constructor level. That is why there was no further development of their network.
Later they decided to hype up their project using the word DeFi but could not accomplish much more than a Synthetix fork into their repository. Under their mindless ramblings of “DeFi, DeFi '' they got listed on a few exchanges and then voila! They cheerfully shoved an ERC20 token up your public, at your expense no less, while none of you understood what was happening. And that’s why it’s worth 4 cents after it opened at 10 cents and will shortly be worth zero.
No intervention will save you. Sorry.
Just to make you feel a bit more comfy, they sure did do one-heck-of-a job throwing every TON-related link imaginable despite not having any connection whatsoever to TON or any related project, most of which died when the Durovs abandoned it.
And that my dear friends are the 2020 Chinese TON scam in a nutshell. Sorry to be the bearers of bad news, but as they say, better do your homework.