Telegram’s Native Cryptocurrency To Go On Public Sale of Its Gram Tokens on Liquid Exchange
Popular messaging app Telegram has long planned its entry into the blockchain and cryptocurrency arena even before its rival Facebook had considered this option. In fact, Telegram’s plans to launch its Telegram Open Network (TON) dates back to the time of December 2017 when the crypto market was at its peak.
Besides, to raise the funds for its blockchain project, Telegram also conducted an ICO of its native cryptocurrency, the GRAM tokens. However, this ICO was only for accredited investors. Telegrams ICO was reportedly one of the biggest in the crypto industry.
According to the official press release, Telegram will be conducting a limited sale of the GRAM token on the liquid exchange next month on July 10. However, the cost of the token and the targeted sale is yet not fixed. Moreover, the full public sale for the GRAM tokens can happen sometime around October 2019.
The Gram tokens will be available for purchase on Liquid against the USD or the USDC. The press release further notes: “All Gram token sale participants on Liquid will need to have a verified and funded Liquid account in order to qualify for the offering. Minimum electronic verification requirements to participate in the Gram token sale include submitting a government ID and a selfie. All documents can be submitted online on Liquid, with the assistance of a 24/7 live chat team.”
The sale will be conducted through Gram Asia which is supposedly the largest holder of Gram tokens. The Liquid Exchange will have TON-compatible wallets integrated to its platform. Thus the participants of the Gram token sale will have their Gram tokens delivered at the launch of the public mainnet of the TON blockchain network.
Until the launch of the TON network, the Liquid exchange will hold all proceeds from the token sale into its wallet. Back in April 2019, Telegram is said to have already launched the TON testnet for a few global investors.
It looks like Telegram’s decision to have the public sale of its GRAM token comes from the fact that its social media competitor Facebook is most likely to launch its naive cryptocurrency by June end. With the payments industry taking a new growth trajectory, Telegram would surely not want to stay away from stealing this opportunity.