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Telegram's Public Token Sale Finally Arrives

15 Jul 2019

Telegram's Public Token Sale Finally Arrives, Although in Limited Form

Telegram, similarly to Facebook, was a company whose interest in cryptocurrency remained under close watch by the crypto community. The firm is large and influential, and its interest in crypto was greeted by everyone as a masive step in the right direction for both, the company and crypto sector alike. Investors who have been waiting for Telegram's public token sale are finally in luck, as the messaging app giant finally launched it. Of course, Telegram's GRAM token had its ICO among the accredited investors already, and it was one of the biggest ones in crypto history.

However, the company decided to hold a public token sale as well, although it will be a limited one. It is being held on the Liquid exchange, and it started yesterday, July 10th, and it will run for around 13 more days. Interested investors can purchase its GRAM token for $4 per 1 GRAM. Those interested to take part in the token sale can purchase coins in exchange for USDC or USD.

The sale is being made via Gram Asia, which is a Korean entity that claims to be the largest holder of the GRAM token at this time. Of course, since the token sale is done on Liquid's platform, this is not truly an ICO, but rather an IEO, which was to be expected of a company as large as Telegram.

Telegram’s 2018 token sale was a massive success

As mentioned before, GRAMs have already been sold in the past. However, only accredited investors were allowed to participate in the past. Telegram held its massive two-phase token sale back in 2018, in February and March. The token sale went down as one of the largest and most successful ones in history, with $1.7 billion raised.

The messaging giant then used these funds to create its Telegram Open Network (TON). This is quite an ambitious blockchain, which aims to decentralize facets of digital communication. That includes everything, from browsing and file sharing to making transactions.

TON promises to bring speed, as well as scalability, and to create a multi-blockchain architecture that will address the need for extreme security and minimal transaction times. Liquid's webpage claims that the token sale is open to everyone, globally. Of course, it still has a few restricted areas, like most token sales. In GRAM's case, these include the US and Japan. These countries are likely removed from the list in fear that they might consider GRAM to be a security.

While the public sale is currently up and running, for a time, there was speculation regarding whether the company will decide to hold one at all. After all, regulatory risks are high, and major countries' regulators are constantly hunting down token sales and trying to crack down on as many as possible. But, Telegram seemingly found a way around it, and is currently selling its tokens to investors from all over the world.

Of course, it should be noted that tokens won't be immediately tradeable. They will not even be released until TON goes live. In other words, the tokens will be locked away until Telegram launches its MainNet. Of course, this was all listed earlier in the delivery schedule, and investors will not have the ability to withdraw, trade, or even transfer GRAMs before their release.

Author: Ali Raza аor:

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