TechCrunch: Telegram Public Sale of Tokens Starts July 10

Source: Telegram is not associated with the sale of Gram tokens on the Liquid exchange

Tokens of the Telegram messenger cryptocurrency project will be available to public investors on a limited listing on July 10, writes the popular fintech portal TechCrunch.

According to the source, the sale will be carried out through the infrastructure of the Liquid exchange. Tokens will not be offered to retail investors by Telegram itself, but by the Korean organization Gram Asia, which calls itself the largest Gram holder in Asia. How many tokens will be offered for sale and at what price is unknown.

“Unfortunately, this is Telegram, and this is how they work from the very beginning,” CEO Liquid said. He also claims that the sale of tokens from a third-party fund is part of the messenger’s official strategy. – The public sale was always planned to take place between the launch of the testnet and the launch of the main network. They wanted to work with a regulated exchange before full listing in October. “.

According to CEO Liquid, Telegram is taking such measures in order to avoid possible problems with the law, which, for example, the startup Kik is currently experiencing..

After purchasing Gram from Gram Asia in July, token holders will not be able to exchange them on the exchange. The release of the tokens will take place in October, and until then, the collected funds will be stored in the USDC stablecoin. At the same time, the token distribution process will be divided into four tranches – equal parts of tokens will be released every three months.

The exchange intends to conduct a thorough screening of potential investors and restrict access to sales of users from a number of countries. The company also admits that Gram may enter circulation in the secondary market, which it cannot control..

At the end of May, a simplified version of the Telegram Open Network (TON) client was presented.

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