TON vs UNI
Toncoin and Uniswap scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
TON scores 110 of 250 and ranks 94th of 251. UNI scores 167 and ranks 9th. UNI leads by 57 points, which is a wide enough margin that the framework is not ambivalent. TON takes 2 of the 25 variables, UNI takes 18, and 5 are level.
The framework rates TON WATCH and UNI HOLD. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
5 variables separate them by 3 points or more. UNI is clear on Vesting Schedule (9 against 2), Regulatory Safety (9 against 3) and Revenue Trend (7 against 2).
Both score 3 or below on P/S Multiple. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
UNI is valued at $4.91B against $4.02B for TON, a 1.2x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 1 | 4 | UNI +3 | |
| Revenue Trend | 2 | 7 | UNI +5 | |
| P/S Multiple | 3 | 3 | level | |
| Real Staking Yield | 5 | 3 | TON +2 |
Supply
| Supply Inflation | 3 | 7 | UNI +4 | |
| Vesting Schedule | 2 | 9 | UNI +7 | |
| Circulating / FDV Ratio | 4 | 8 | UNI +4 | |
| Buyback and Burn | 2 | 7 | UNI +5 |
Ownership
| Smart Money Flows | 7 | 7 | level | |
| Insider Selling | 2 | 4 | UNI +2 | |
| Holder Concentration | 2 | 5 | UNI +3 |
Traction
| TVL Trend | 2 | 6 | UNI +4 | |
| Active Users | 6 | 8 | UNI +2 | |
| Developer Activity | 7 | 8 | UNI +1 | |
| Network Growth | 5 | 8 | UNI +3 |
Position
| Market Share | 4 | 8 | UNI +4 | |
| Competitive Moat | 7 | 7 | level | |
| Institutional Adoption | 5 | 8 | UNI +3 | |
| Exchange Depth | 7 | 8 | UNI +1 | |
| Social Mindshare | 8 | 7 | TON +1 |
Risk
| Regulatory Safety | 3 | 9 | UNI +6 | |
| Catalyst Calendar | 8 | 8 | level | |
| BTC Alpha Potential | 3 | 4 | UNI +1 | |
| Team Execution | 7 | 7 | level | |
| Treasury Runway | 5 | 7 | UNI +2 |
Bars read outward from the centre: TON to the left, UNI to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| TON | UNI | |
|---|---|---|
| Price | $1.42 | $7.84 |
| Market cap | $4.02B | $4.91B |
| Circulating | 53.6% | 62.5% |
| Dilution to full supply | 1.86x | 1.6x |
| Off all-time high | -82.7% | -82.5% |
| To recover the high | 5.8x | 5.7x |
| Total value locked | $56.4M | $2.77B |
| Network | TON | Ethereum |
TON now trades as GRAM. The scoring pass ran under the old ticker, so the scores above are filed there while the market figures track the new one.
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
TON · WATCH
GRAM rebrand Jun 15, TON Teleport BTC bridge, TON Pay 2.0, MTONGA steps 5-7, Stars-to-TON fiat onramp
Believers $61M/mo releases (27mo left), 1.08B frozen wallets unfreeze Feb 2027, Durov 12 charges, 85% whale concentration, zero protocol revenue
UNI · HOLD
Bitwise spot UNI ETF (pending SEC), fee switch expansion to 11+ chains, BlackRock BUIDL integration + UNI purchases, Unichain UVN validators, V4 hooks marketplace, SEC safe harbor (5yr), CLARITY Act advancing
P/S 57-73x on actual protocol revenue ($26-61M not $1B), net inflationary +1.43%/yr (20M growth budget > 4.4M burns), $200M+ insider/VC selling in 2025, top 10 holders control 50.81%, Fluid took 55% stablecoin DEX share, aggregators route 50%+ of ETH volume
Common questions
- Is TON or UNI the better investment?
- On this framework UNI scores higher: 167 against 110 of 250, and it is rated HOLD against WATCH. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and TON still wins 2 of the 25 individual variables against UNI.
- What is the biggest difference between TON and UNI?
- Vesting Schedule. TON scores 2 of 10 there and UNI scores 9, a gap of 7 points on a single variable.
- Which is bigger, TON or UNI?
- TON is valued at $4.02B and UNI at $4.91B on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.