Telegram’s token goes on public sale

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During its ICO, Telegram’s Gram token was only available to accredited investors. Now TechCrunch has reported that it will go on sale to the public on 10th July. The sale will be on Liquid, a crypto exchange.

TecCrunch says: “It’s notable that Liquid, which recently claimed to have raised funding at a $1 billion valuation hasn’t struck a deal with Telegram directly. Instead, it has agreed to list an undisclosed number of tokens held by Gram Asia, an organization headquartered in Korea that claims to be the largest holder of Grams in Asia. For now, neither side is saying how many will be on offer and at what price.”

It also seems rather odd that in the press release about the sale, there is no message from Pavel Durov, Telegram’s CEO. In response to this, Liquid CEO Kayamori told TechCrunch in an interview this week, “Unfortunately, that’s Telegram and how they have operated from the beginning.”

However, Kayamori is confident that this token listing is above board and very much part of the plan for TON — the ‘Telegram Open Network’ project that’s being developed by the funds raised through the ICO. He added that TON is on schedule to “make a full launch as early as October and that this partial listing from Gram Asia is part of that overall strategy.”

TechCrunch suggests there are other reasons behind the sale, “Such as that Gram Asia is cashing in on anticipation of the full launch or, worse, that the group is dumping its tokens before a product.”

Kayamori strongly denies this, saying, “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.”

It’s also worth noting that any gram tokens sold in the upcoming offering will not be immediately tradeable. The website says: “The tokens being sold will not be released until after TON goes live (mainnet release), in accordance with the delivery schedule. Purchasers will not be able to transfer, withdraw, or trade the Grams before they are released.”

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