One of the most popular messaging app – Telegram is ready to make its tokens available for retail users. In particular, Telegram’s initial coin offering (ICO) are being offered for public sale through online cryptocurrency trading platform Liquid.com.
As per the press release, the Gram token sale will take place on Liquid exchange on July 10th, 2019 at 8:00 am UTC. Investors on the Liquid platform can purchase the Gram tokens with USD and stable coin USD Coin (USDC). Additionally, users need to have a verified Liquid account, which means individuals need to submit a government ID. Also, it is worth mentioning that, how much each token will cost, or how many Grams will be released to the public has not been announced.
Once you purchase the tokens, Gram Asia shall transfer them to TON (Telegram open network) compatible wallets that is integrated on Liquid once the TON blockchain is officially launched. Until then, Liquid will hold all the proceeds from the Gram Token sale. Moreover, It also promises to refund investors if TON failed to launch
Mike Kayamori, the co-founder and CEO of Liquid, said:
We are excited to be partnering with Gram Asia to launch the Gram token sale. It is wonderful news to our community who are native users of Telegram. We share the vision for a more secure and open value transfer system to enable the mainstream adoption of cryptocurrencies.
But before you get excited of getting an opportunity to purchase some Gram Tokens, there are few limitations.
Firstly, according to the reports of cointelegraph , a source close to Telegram told Cointelegraph that there was no relationship between Liquid and Telegram. Which refers that , This sale seemingly holds no relationship with the token’s original issuer.
Secondly, those who purchase these tokens won’t actually receive their coins until October 31, 2019, as the TON blockchain might launch on October 31, 2019.
Previously, in the year 2018, Telegram raised approximately $1.7 billion, in one of the largest ICOs, where it sold Gram tokens to private accredited investors. One condition to participate in Telegram’s ICO was to invest at least $1million.
Considering all the things, we hope this offering certainly offers Gram tokens to more potential buyers.
Note: Keep in mind that, it’s a third-party company selling tokens that don’t exist yet. Moreover, a blockchain is yet to launch.