Tokens of the crypto-currency project of the Telegram messenger will be available to public investors on a limited listing on July 10, the popular FINTECH portal TechCrunch Writes.
According to the source, the sale will be carried out through the infrastructure of the exchange Liquid. Tokens will be offered to retail investors not by Telegram itself, but by the Korean organization Gram Asia, which calls itself the largest gram holder in Asia. It is unknown how many tokens will be offered for sale and at what price.
"Unfortunately, it's Telegram, and that's how they work from the beginning, – said CEO Liquid. He also claims that the sale of tokens from a third-party Fund is part of the official strategy of the messenger. – Public sale has always been planned in the interval between the launch of the testnet and the launch of the main network. They wanted to work with a regulated exchange before doing a full listing in October."
According to the CEO of Liquid, such measures Telegram goes to avoid possible problems with the law, which is currently experiencing, for example, startup Kik.
After buying Gram from Gram Asia in July, token holders will not be able to exchange them on the exchange. The release of tokens will take place in October, and until then the collected funds will be stored in the USDC stablecoin. In this case, the token distribution process will be divided into four tranches – equal parts of the tokens will be released every three months.
The exchange intends to conduct a thorough check of potential investors and restrict access to sales of users from a number of countries. The company also admits that Gram can go into circulation in the secondary market, which it can not control.