Telegram Launches "Telegram Stars" Digital Payment Feature

Telegram, the popular messaging app, has introduced a new digital payment feature called "Telegram Stars." This innovation allows users to make in-app purchases directly through the platform. The feature is compatible with both iOS and Android devices.

Key Highlights:

1. Functionality and Usage:
- Telegram Stars: Users can purchase these stars within the app, which can be used to pay for digital services in mini apps.
- Conversion to Toncoin (TON): App developers can convert their earned Stars into Toncoin (TON) via the exchange Fragment. TON is the token of The Open Network.

2. Market Impact:
- Toncoin Surge: Following the announcement, Toncoin experienced a significant price increase of 10%, propelling it into the top 10 cryptocurrencies by market capitalization.

3. Developer Incentives:
- Promotion and Withdrawal: Developers can withdraw their Stars through Fragment using TON. They can also use Stars to promote their apps within Telegram on preferential terms.
- Economic Advantages: Durov emphasized that launching apps on Telegram offers economic benefits over traditional mobile app platforms due to ad subsidies when reinvesting Stars.

4. Apple and Google Commissions:
- 30% Commission: Purchases of Stars through Apple and Google will incur a 30% commission. However, Telegram will subsidize ads bought with Stars, making it cost-effective for developers to reinvest in the platform without incurring additional fees.

5. Recent Developments:
- Mini App Boom: Telegram has seen a surge in mini apps, with millions of new users joining daily. One popular mini app is "Hamster Kombat," a simulator game that has recently gained significant traction.
- Top Channel: Hamster Kombat has become the No.1 channel on Telegram in terms of user count.

6. Strategic Moves:
- Partnership with Tether: In April, Telegram integrated Tether (USDT) on the TON blockchain to promote cryptocurrency adoption through the platform.

Conclusion

Telegram's introduction of Telegram Stars marks a significant step in enhancing in-app payment capabilities and supporting developers on its platform. The integration with Toncoin and the ability to promote apps using Stars provide substantial incentives for developers. This move is set to solidify Telegram's position as a leading platform for launching new applications and services.