Introduction
The TON Foundation's centralized control of token distribution has long been an open secret. Early miners were predominantly internal team members, with 96% of tokens mined within just 51 days between July and September 2020. Analysis suggests 85% of these tokens are under official control. This article breaks down the data behind this claim.
Key Findings
1. Token Allocation Overview
TON, initially developed by Telegram, transitioned to third-party developers due to regulatory issues. Chain data reveals highly concentrated token allocation:
- 96% of supply distributed in 51 days (July 6–August 26, 2020).
- 85.8% controlled by interconnected mining groups, categorized into 7 clusters.
1.1 Cluster 1: 22% of Supply
- Duration: July 6–30, 2020
- Output: 1.1B TON
- Details: 36 addresses linked to a single large miner.
- Post-Mining Activity: Donations to TON Foundation and coordinated withdrawals.
1.2 Cluster 2: 20% of Supply
- Duration: July 30–August 24, 2020
- Output: 1B TON
- Details: 26 addresses launched within 48 seconds of Cluster 1 shutdown.
- Link: Shared management with Cluster 1.
1.3 Cluster 3: 18.8% of Supply
- Duration: July 6–August 24, 2020
- Output: 940M TON
- Details: 14 addresses; funds consolidated into shared wallets.
1.4 Cluster 4: 17.2% of Supply
- Duration: July 19–August 24, 2020
- Output: 859M TON
- Details: Transactions tied to OKX/FTX liquidity provision, indicating Foundation ties.
👉 Explore TON's liquidity dynamics
1.5–1.7 Clusters 5–7: 7% Combined
- Smaller groups with indirect links to primary clusters.
- Notable: Addresses received test transactions from TON Foundation.
2. Mitigation Efforts
To address centralization concerns:
- February 2023 Proposal: Frozen 20% of supply (inactive addresses) for 4 years.
- Transparency: Frozen wallets are publicly verifiable on-chain.
Conclusion
High token concentration isn’t inherently negative (e.g., Solana’s success). However, understanding TON’s distribution is critical for investors. While Telegram’s user base bolsters TON’s potential, due diligence remains essential.
FAQ
Q: How was the 85.8% control calculated?
A: Via chain analysis of mining groups’ interconnected transactions and fund consolidation patterns.
Q: Are frozen tokens permanently locked?
A: No—they’re slated for release after 4 years of inactivity.
Q: What’s TON’s relationship with Telegram now?
A: Independent; Telegram supports integration but doesn’t control development.
👉 Learn more about TON’s ecosystem