The Open Network blockchain has rebranded its native currency from Toncoin (TON) to Gram (GRAM), following an 81% community governance vote in favor of the change. The rebranding is a name and ticker change only, with no technical or functional impact on the underlying blockchain, token balances, wallet addresses, smart contracts, staking positions, or DeFi positions.
According to Binance, all TON tokens held on their platform will be converted to GRAM at a 1:1 ratio, without requiring any action from holders. The conversion process is expected to take place automatically as the network and exchanges update their systems. Users are warned against taking any action in response to suspicious messages or notifications asking them to 'migrate' or 'swap' their TON tokens.
The rebranding reflects a renewed focus on simplicity and recognition for the native currency, which was originally intended to bear the name 'Gram'. The transition is expected to be completed by July 2nd, with Binance removing all existing TON spot trading pairs on June 30th and suspending deposits and withdrawals of TON tokens.