Gram Token released by the messaging app giant, the famous Telegram, which was previously sold to accredited investors in one of the largest ICOs ever, is about to be offered to the public soon.
Limited sale of Gram tokens from 10th of July
According to some reports, a limited sale of the gram token is going to happen on the Liquid exchange from the 10th of July. The offering actually came before a full public sale which has been planned for October.
The token’s cost and the targeted total for the raise are still not disclosed. The sale was actually made by Gram Asia, which, according to sources, is an entity from Korea, which claims to be the biggest holder of gram token.
Previously, grams were just sold to accredited investors in the massive two-phase ICO of Telegram in February, and March of last year – a sale which brought about $1.7 billion.
The funds were about being used to develop the TON or Telegram Open Network, which is an ambitious blockchain, which is actually meant to decentralize several facets of the digital communication, which range from file sharing to transactions browsing.
TON bringing speed and scalability to the blockchain architecture
As per the gram sale page on the website of Liquid, TON will bring speed, as well as scalability to a multi-blockchain architecture which addresses the need for minimal transactions times, and even tight security.
Moreover, it states that the sale is actually open to all of the investors around the world; however, it excludes some nations such as the United States, together with its territories, as well as Japan, most likely because of the fears that the token could be seen as security in those jurisdictions.
Just like it was previously reported, whether Telegram is eventually going to hold a public sale at all has been in some doubt, primarily because of such regulatory risks.
Gram tokens won’t be immediately tradeable
Gram tokens which are going to be sold in the offering which is about to come, are not going to be immediately tradeable.
According to the website, the tokens that are sold are not going to be released until after TON goes live, which is until the mainnet release, following the delivery schedule.
Also, the website said that purchases are not going to be able to transfer, trade, or withdraw the Grams before they are finally fully released to the public.
The investors who are signing up to Liquid for sale may buy grams with either USD or the USDC stablecoin too. The full launching of the token is expected during the end of October of this year, according to the indications of the website.