TON Believers Fund Stops Accepting New Deposits, Locks Over 1.3 Billion TON Tokens

According to Foresight News, as of October 23, the TON Believers Fund has stopped accepting new deposits, with over 1.317 billion TON tokens (approximately $2.9 billion) locked, accounting for about a quarter of the total supply. The TON Believers Fund allows any TON holder to lock their tokens for five years: a two-year lock-up period and a three-year vesting period. Through the TON Believers Fund, users can deposit or donate. The deadline for accepting deposits is October 23, 2023. After that, these tokens will be locked in a smart contract for two years. Then, starting from October 12, 2025, these tokens, along with a portion of rewards, will begin to be distributed to all depositors, and this phase will last for another three years. All donations will be used as rewards for depositors.