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There has been an interesting development in the TON ecosystem recently. Manuel Stotz, Chairman of TONX, revealed that all TON tokens sold by Telegram come with a four-year vesting period—what does this imply? It indicates that Telegram is making a long-term commitment to this project, rather than seeking short-term profits.
Even more interesting is that most of the TON sold by Telegram has flowed into the hands of TONX, a company whose positioning is for long-term holding and staking, effectively locking the tokens into the ecosystem.
According to data, the Financial Times reported that Telegram's revenue in the first half of the year reached $870 million, a 65% year-over-year increase, with the TON ecosystem contributing significantly. Although Telegram has sold over $450 million worth of TON, there is a key detail—Stotz emphasized that Telegram's own net TON holdings have not decreased significantly and may even be increasing. In other words, they are selling while also accumulating, which fully demonstrates confidence in the long-term potential of TON.