At Terramatris, we regularly allocate a small portion of our fund to assets that we believe could have asymmetric upside potential — what we call moonshots. One of those tokens today is TON (The Open Network).
Our investment in TON is currently modest: at the time of writing, we hold just under 100 TON tokens, with a possible outlook to increase this allocation to 200–300 tokens in 2026. While this is a humble position compared to our core holdings, it reflects our conviction that TON has the potential to become a significant player in the crypto ecosystem.
There are a few key reasons why we believe in TON:
1. The Pavel Durov Factor
Although Pavel Durov (the founder of Telegram and earlier, VKontakte) is not directly running TON — the project is now developed and maintained by the TON Foundation — his track record matters.
- VKontakte was inspired by global social networks, but Durov turned it into a unique platform that became Russia’s largest social media company.
- Telegram entered a competitive space of messaging apps, yet evolved into one of the most advanced, secure, and widely adopted platforms worldwide.
Durov has repeatedly shown the ability to take an idea, refine it, and push it forward into something more powerful. With TON closely tied to Telegram’s ecosystem, we believe the potential for scale is substantial.
2. TON as the Ethereum of the Telegram World
We view TON as a kind of Ethereum for Telegram. It is designed to handle millions of transactions per second, integrate seamlessly with messaging, and power a decentralized ecosystem of payments, storage, and applications.
With Telegram’s 900+ million global users, even partial adoption of TON-powered features could create strong network effects.
3. Long-Term Asymmetric Potential
Our investment philosophy here is simple: allocate small amounts to projects that could either fail or grow exponentially. We are not betting the fund on TON, but by holding a small, carefully measured position, we are exposed to its potential upside without overcommitting.
Outlook
As mentioned, our current allocation is around 100 TON tokens, with the possibility of increasing to 200–300 tokens by 2026, depending on market developments and project adoption.
We are in no rush. TON is still in its early growth phase, and we are prepared to hold for several years if needed.
This article reflects Terramatris’ internal investment decisions and is published for transparency and informational purposes only. It should not be construed as financial or investment advice. Cryptocurrencies are highly volatile, and past success of related ventures does not guarantee future performance. Each reader should do their own due diligence and consult with a licensed financial advisor before making investment decisions.