Exchangeable Gram Equivalent (XGE) is a token registered and issued under Digital Assest Management. It will warrant its owners the opportunity to exchange them for GRAM cryptocurrency. The Telegram Open Network (TON) will operate on the GRAM cryptocurrency for usage, both externally and internally. In the future, Telegram will issue its users with the TON wallets that they can use to access their GRAM cryptocurrency.
Owners of XGE tokens exchange them for GRAM cryptocurrency as soon as they are released, based on the TON roadmap at an exchange ratio of 1:1. There are no gram tokens sold by telegram currently. Therefore, the only legal way to obtain the token is through the XGE tokens. Once exchanged, the token holders will receive the Gram cryptocurrency in their TON wallets immediately. In case that GRAM tokens are not released, all the individuals that would have purchased the XGE tokens will receive a refund.
How To Buy XGE Tokens
XGE tokens can be acquired through the platform’s dashboard by first filling the identity registration form found on the website. The user then selects the number of XGE tokens that they would like to purchase. The accepted form of payment for the purchased token is ETH. Therefore, the final token price will be in ETH. The calculated ETH price is then sent to the given smart contract address. Upon confirmation of the transaction, the tokens are sent to user’s ETH wallet. The minimum tokens to purchase are 100 XGE.
The XGE tokens are transferrable from a token holder to another through the wallets. Currently, the tokens are not tradable on the crypto exchanges and can only be bought on from the dashboard of an individual user’s account. Users can view their token balance and transactions on their wallet using various tools such as Etherscan website, Metamask Сhrome extension and MyEtherWallet website.
Creators and managers of the XGE token will make money by charging commission on the total cost of one token.
Benefits of the Xge Token
Accessible: When compared to other tokens, XGE is easily accessible as there is a low barrier to entry. The minimum amount of tokens a single user can buy is 100 tokens.
Refund policy: If the TON platform is not launched, the team responsible for the creation of XGE tokens will redeem all sold XGE tokens and refund all the token holders.
Simplicity: The tokens will have a simple exchange rate of 1:1, which will not confuse those interested in purchasing the tokens.
Product : The XGE token was the biggest Initial Coin Offering of this year. The token will provide a way to obtain the Gram token, which could not be acquired during its public ICO, as it was cancelled. Since there are no telegram tokens sold now, the only legal way to obtain the tokens is through exchanging with the XGE tokens.
The token will have an actual product attached to it (gram tokens), which is not the case for many token in the cryptocurrency market today.