Telegram’s TON ICO Token “GRAM” Finally Going for Public Sale, Readies for October Launch
- The largest ICO project Telegram all set to go public with its gram token sale
- Tokens being sold will not be released until after TON goes live (mainnet release)
- Gram sale will be made via Liquid exchange
Finally, the most hyped ICO Telegram (TON) that raised a record $1.7 billion, by far the largest fundraise made via Initial Coin Offering early last year is set to make its tokens available to the general public.
The messaging giant that is actively used in the cryptocurrency community first made its Gram token available to only accredited investors. Now, the tokens will go on sale for regular crypto buyers for the first time, starting next month.
This sale will be made through a listing on crypto exchange Liquid on July 10. This is a limited offering, reported TechCrunch that won’t be sold in the US, Japan, and Korea among other countries.
Liquid, the exchange through which this sale will go public, recently claimed to have raised funding at a $1 billion valuation. The cryptocurrency exchange in question here is not working directly with Telegram but rather will list an undisclosed amount of tokens held by Gram Asia, an organization headquartered in Korea. The organization claims to be the largest holder of Grams in Asia.
Liquid CEO, Kayamori says he is confident that despite these restrictions there will be significant demand.
“The world’s most anticipated token sale, available to the public for the first time,” reads the gram sale page of Liquid website.
The $1.7 billion raised were to be used to develop the Telegram Open Network (TON), a blockchain meant to decentralize different aspects of digital communication from browsing, file sharing to transactions.
“TON brings speed and scalability to a multi-blockchain architecture that addresses the need for minimal transaction times and airtight security.”
Investors that have signed up to Liquid to purchase gram can do so with either the US dollars or the USDC stablecoin. A full token launch is estimated to be at the end of October. However, the gram tokens sole won’t be tradable immediately as the website states,
“The tokens being sold will not be released until after TON goes live (mainnet release), in accordance with the delivery schedule. Purchasers will not be able to transfer, withdraw, or trade the Grams before they are released.”