The first public sale of Telegram’s GRAM token is set to take place in under a week on July 10.
The instant-messaging service boasts more than 200 million users worldwide and has become a favorite channel of communication for many cryptocurrency communities and projects. The initial announcement of the Telegram Open Network (TON) has garnered a lot of attention, and the GRAM token has become one of the most anticipated cryptocurrencies.
Telegram’s Much Anticipated Network
GRAMs have previously been sold only to accredited investors in Telegram’s two-phase private sale in February and March of 2018 – a sale that brought in around $1.7 billion.
Now the GRAM token will go on sale to public buyers for the first time through a listing on cryptocurrency exchange Liquid. The arrangement represents a limited offering before a full public sale in October.
Liquid is a cryptocurrency platform mostly covering the Asian region. The GRAM token sale has materialized in the wake of a partnership with one of the initial investors during the Telegram’s private sale – Gram Asia.
Available for Buying, Not for Trading
In order to participate, willing investors have to sign up to Liquid’s exchange and go through the know-your-customer (KYC) process. The GRAM tokens are available solely against USD and USDC, unlike other ICOs where mainly Bitcoin (BTC) and Ethereum (ETH) have been accepted. The price per Gram token will be 4 USD.
Further, Liquid offers rebates for users that hold the platform’s native token QASH. The rebate ranges from 5% to 12.5% depending on the amount and period the user held the token.
Most notably, the GRAM tokens will not be tradeable right away. Buyers will essentially buy tokens from Gram Asia which, until the tokens are released in October, will be held in USDC. Only when the distribution process begins will the buyers receive their tokens and have the possibility to trade.
While the tokens won’t be available for trading to current investors, it is expected that the offering price during the full public sale will be higher. Telegram has targeted a start date by the end of the third quarter of 2019.
Do you have an interest in participating during this limited public sale? Let us know in the comments!
Disclaimer: This article does not represent financial advice and should not be interpreted as such.