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Home » TON introduces $5M incentive program to promote digital ID verification
TON introduces $5M incentive program to promote digital ID verification
TON introduces $5M incentive program to promote digital ID verification

TON introduces $5M incentive program to promote digital ID verification

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By admin on 2024-04-08 Blockchain

Developers of the Open Network (TON) ecosystem have allocated $5 million worth of Toncoin tokens to incentivize users to verify their identity using advanced palm scanning technology. TON Society, a community of developers and contributors working on the TON ecosystem, will distribute 1 million Toncoin to users who participate in the voluntary proof-of-personhood program. The goal of the project is to enable digital identity verification for Telegram users over the next five years.

The project utilizes HumanCode’s technology, which allows users to verify their human identity on the blockchain. The application, which can be found on Google Play and the Apple Store, enables users to scan their palms using their smartphones. According to information shared with Cointelegraph, the technology prioritizes privacy protection and is compatible with various mobile devices.

Ekin Tuna, the growth director of the TON Foundation, stated that supporting proof-of-personhood protocols like HumanCode is a significant step toward establishing a practical reputation system with real-life applications for the TON ecosystem. TON Society members who complete a palm scan and prove their personhood will receive incentives in the form of HumanCode rewards. Any individual can become a Ton Society member by connecting their TON wallet to the community organization.

In March, the TON Foundation allocated 30 million Toncoin, equivalent to approximately $115 million, for various community rewards to drive adoption. The incentives are divided among four different areas: $38 million worth of TON will be allocated to token mining and user incentives, $22 million for airdrops, $15 million for the League developer ecosystem, and $40 million for liquidity pool boosts.

The Telegram Ad Platform, built on the TON blockchain, was officially launched in March 2024. This platform enables Telegram channel owners worldwide to receive financial rewards by exclusively selling advertising and sharing revenue with channel owners in TON.

This story is still developing, and additional information will be provided as it becomes available.

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