Gram Asia Lists Telegram Tokens At Three Times ICO Price

by | Jul 4, 2019 | Cryptocurrency, Cryptocurrency News

Telegram | Gram | ICO | Cryptocurrency | Gram Asia

Starting July 10, South Korea’s Gram Asia sells rights to its Gram holdings at $4.00 per token, exclusively through Japanese cryptocurrency exchange Liquid as per its website.

The proposed sale price is triple of the original $1.33 sale price at Gram’s second initial coin offering (ICO) round in March 2018. Interestingly, which was also hosted by Liquid and Telegram managed to raise over $850 million, bringing its total valuation up to $1.7 billion.

As per a report by Bloomberg on July 3, that cites an email from the exchange explaining that users who buy Gram with the exchange’s native token, QASH, will get a $0.50 discount per token. While the price estimates for the Gram token varies, it may fall between $2.10–$8.00, as per a research from by Russian research agency Aton.

On June 11, Liquid announced its plan to host the sale, however, a source close to Telegram clarifies that there is no relationship between the two entities. The source further stated that the June 11 press release was the first time they had heard of Gram Asia.

In addition, a Telegram investor specifically adds that no one has the rights to sell Gram tokens before the official launch. Per a token purchase contract, the buyer agrees to not:

“ENTER INTO ANY swap or other AGREEMENT THAT TRANSFERS, in whole or in part, ANY OF THE ECONOMIC CONSEQUENCES OF OWNERSHIP OF THE INVESTMENT CONTRACT represented by this Purchase Agreement or any Tokens.”

Gram is the yet-to-be-released native token for the Telegram Open Network (TON), a decentralized network project by the open source, encrypted messenger app Telegram. The application is used by over 200 million people, planning to launch its Gram tokens by the end of Q3 2019.

Reportedly, Gram Asia is the largest holder of the Gram token in Asia. In addition, the exchange Liquid apparently has a deal with Gram Asia, but not Telegram. Liquid has further hinted at being an incubator for TON.

Read more: Intel Co-Sponsors New Hyperledger Transact Project

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