Altcoins

Telegram Crypto Token: The Story Behind ‘Gram’ 1st Public Sale

According to report, the Japanese crypto trading platform, known as Liquid, will be holding the first ever public sale of the Gram. Additionally, in order to list the token the platform has struck a partnership with Gram Asia, which is the largest holder of the token and per their website is a “trusted partner” of Telegram.

Telegram, the messaging app giant, after having one of the most hyped initial coin offering (ICO), is finally ready to offer its own cryptocurrency to the public.

Telegram, the de facto chat application for the crypto community, managed to raise a record-high $1.7 billion last year through a token sale that was limited to recognized investors. Safe to say it garnered quite the attention among crypto proponents. Now the application’s token, dubbed Gram, will go on sale to crypto buyers.

Gram Asia was among the aforementioned accredited investors in Telegram’s massive two-phased ICO, which was held last year in February and March. The handsome funds collected through the ICO were dedicated for the development of the Telegram Open Network (TON).

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TON is an ambitious blockchain engineered to decentralize several areas of digital communication, including file sharing, browsing and transactions. According to the gram sale page on Liquid’s website:

TON brings speed and scalability to a multi-blockchain architecture that addresses the need for minimal transaction times and airtight security.

There is, however, a catch to the Gram token sale and that is the arrangement is a “limited” offering and for now it will only allow potential investors to purchase the tokens via US Dollar and USDC, the stable coin backed by Coinbase among others. The sale is set to take place next month on July 10. Purportedly, this limited sale will be followed by a full public sale later in October; until then none of the Gram tokens will be tradable.

Buyers can essentially purchase the tokens from Gram Asia and the purchase of token will be held in USDC, until the official release in October. And buyers will receive their tokens only when the distribution process begins which purportedly will be divided into four tranches, with one-quarter of the buyer’s tokens distributed every three months.

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Telegram itself is very hush hush about the sale, which is rather odd considering it is convention for most companies to endorse their upcoming sales. But apparently that is how Telegram operates, according to Liquid CEO Kayamori. According to his interview:

Telegram already has an ecosystem, developers and early token buyers and TON ventures, there are already communities being built up. Based on discussions within these communities, GRAM Asia has put its best step forward to do this public sale.

There is also a general perception that Telegram is keeping quiet in order to avoid falling into legal and regulatory troubles. And it is likely that the strict geographic limitations on the token are due to regulatory hesitations as well. There is an extensive list of the countries where Gram tokens will not be sold, which include United States, Japan and Canada among others.

In spite of all the restrictions, Kayamori is confident that there will be significant demand for the Gram. According to certain reports, it is expected that the token will potentially generate around 4 billion U.S. dollars in revenue within next three years. But in order to achieve this target in reality, Telegram will have to tackle regulators head on, else it will get tangled up in regulatory issues which will only drive away its user base to other platforms.

For now, Telegram’s listing on Liquid will provide everyone with an early, limited insight on the demand of the Gram token.

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Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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