What is Toncoin
Toncoin (TON) is the native coin of The Open Network blockchain. The technology was originally developed by the Telegram team, but in 2020 the company stepped away from the project and an independent community continued its development. Today TON is closely tied to Telegram: a crypto wallet is built into the messenger, mini apps accept payment in TON, and millions of people get to know crypto through it.
The Open Network is designed for heavy load: the network can split into parts (sharding) and process many transactions in parallel. Transfers confirm within seconds and fees are usually a fraction of a cent. Other tokens are issued on TON too — USDT, for example — while Toncoin pays for fees, staking and settlements within the ecosystem.
Key facts
| Parameter | Value |
|---|---|
| Ticker | TON |
| Network at ROVEN exchange | The Open Network (mainnet) |
| Address format | 48 characters, usually starting with “UQ” or “EQ” |
| Speed | Confirmation within a few seconds |
| Network fee | Paid in TON, usually a fraction of a cent |
| Memo / comment | Required when sending to exchanges and swap services |
What Toncoin is used for
- Payments in Telegram. Paying for digital goods, subscriptions and services in mini apps.
- Peer-to-peer transfers. You can send TON to a friend right in the chat.
- Games and ecosystem apps. Many Telegram projects use TON for in-app settlements.
- Staking. TON holders can help run the network and earn rewards.
How to exchange Toncoin at ROVEN exchange
- Choose a direction, for example TON → USDT TRC20 or USDT TRC20 → TON, and enter the amount.
- If you’re receiving TON, enter your wallet address. If the address belongs to an exchange, be sure to fill in the memo field — the exchange shows it in its deposit section.
- Create the order — the rate is locked for 30 minutes. When paying in TON, copy both the address and the comment (memo) from the order.
- TON transfers confirm quickly, so the operator usually sends the payout within a few minutes.
What to watch out for
- When paying an order, always add the comment from the order to your transfer — that’s how the operator finds your payment.
- Send TON from mainnet, not testnet: test coins have no value.
- Don’t follow links from comments on incoming transfers — scam sites are often disguised this way.
- Keep a little TON in your wallet for fees if you plan to send tokens on the TON network.
UQ and EQ addresses: what’s the difference
One TON wallet can have addresses in different forms: starting with “UQ” (non-bounceable) and with “EQ” (bounceable). It’s the same account, just written differently. The difference matters when the address hasn’t been activated yet: a transfer to a “bounceable” address of a new wallet may bounce back to the sender. Modern wallets display the “UQ” address, and that’s the one best used for receiving funds.
Tokens on the TON network
Besides Toncoin, the TON network hosts Jetton-standard tokens — USDT on TON, for example. They sit at the same address as TON but are different assets. At ROVEN exchange, TON directions work with the Toncoin coin itself. If you want to receive USDT, choose a direction on TRC20, ERC20 or BEP20 and enter an address on that network. Sending tokens on TON also requires a small TON balance in the wallet for fees.
Frequently asked questions
Do I need a comment when sending TON to my own wallet?
No. A comment is only needed when sending to an exchange’s or swap service’s shared address. TON will reach a personal wallet such as Tonkeeper or the wallet in Telegram without one.
Can I exchange TON right from Telegram?
Yes. Open our Telegram bot or mini app, create an order and send TON from the built-in wallet, adding the comment from the order.