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Is Gram (anciennement Toncoin) (GRAM (ex-TON)) halal?

Questionable

No condition fails, but 1 point remains to be verified or falls under a tolerated case.

Verdict calculated by Halal Bourse's published rules from an investigation of primary sources (project documentation, registers, decisions), conducted on 10/07/2026 and not reviewed by a human.

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The asset

Native currency of The Open Network blockchain (proof of stake), designed in 2018 by the Telegram team; renamed Toncoin, then Gram on June 15, 2026 after a community vote (81.22% in favor); file ton.json Issuer: No issuing entity according to the MiCA white paper: tokens distributed since 2020 by proof of work after Telegram abandoned the project. Since May 2026, Telegram (Telegram FZ-LLC, Dubai) is the main operator and largest validator; The Open Network Foundation (Switzerland) keeps a veto right.

The supply is not capped: 5 billion tokens at launch, issuance to validators of about 4% per year, half of the fees burned. As of October 6, 2026 (23:49 UTC), CoinGecko reports 2.82 billion tokens in circulation (total supply 5.26 billion), a price of €1.35 and a market capitalization of €3.82 billion (rank 32).

Why this verdict

  1. Permissible purpose : met. The token is used to pay network fees, to take part in validation and voting, and to pay for services (domain names, storage); in Telegram, advertising revenue can be paid out in tokens and Stars can be bought with them. No gambling, interest-bearing loan or illicit-content purpose is found.
    • « Gram used to pay fees, participate in validation, voting, and more. » TON (site ton.org) (2026-10-07)
    • « Telegram ad revenue can be paid out in Gram » TON (site ton.org) (2026-10-07)
  2. No riba : met. Simply holding pays no yield: the token confers neither a share of profits nor a right against an issuer. Rewards go only to validators and to those who stake their tokens, a separate product (autres_constats).
  3. No gambling : met. A spot purchase is of a blockchain's native currency, recorded on a public ledger and transferable; it is not a contract on a price difference.
  4. No excessive gharar : met. The issuance rules are published: no cap, 5 billion at launch, issuance to validators of about 4% per year (noted in the April 9, 2026 update), half of the fees burned. The parties that run the network are identified (Telegram, the Swiss foundation). The distribution is concentrated (four allocations, including frozen 2020 miner addresses and a 25% fund whose depositors are unknown, make up about 58% of the supply): information, not a defect under the Halal Bourse rule on concentration.
  5. Real ownership : met. The token is held in non-custodial wallets (self-custody). The withdrawal terms of the purchasing platforms and of the wallet built into Telegram were not studied.
  6. No fraud or manipulation : to be verified or tolerated case. On June 26, 2020, the SEC obtained a settlement with Telegram Group Inc. and TON Issuer Inc. over the unregistered offering of the original project's “Grams”: return of more than $1.2 billion and a fine of $18.5 million. The original tokens were never distributed; the current token is that of the network relaunched by the community, which took back the name Gram in 2026, and Telegram has again been the main operator since May 2026. Sanction of the original issuer for unregistered sales: to be verified. AMF blacklist: no results; no deception toward buyers established.

Opinions found during the research

Opinions reported as read, named for what they are; they do not enter into the calculation of the verdict.

What could not be verified

Sources read

Other cryptos analyzed

General information: neither investment advice nor a fatwa. Verdict calculated by published rules, from financial statements read automatically and not reviewed by a human. Read the methodology