THELOGICALINDIAN - Frankly my baby I dont accord a GRAM
The aboriginal accessible auction for Telegram’s built-in cryptocurrency is set to booty abode abutting Wednesday, acceptance users of the messaging belvedere to acquirement GRAM tokens for the aboriginal time.
The badge auction will booty abode on Liquid, an Asia-focused cryptocurrency platform, alpha at 08:00 UTC on July 10th. After registering with Liquid, participants will be able to acquirement GRAMs with USD and USDC at an allurement amount of $4 per token.
There will be no best contribution, and investors in Japan and the USA will not be able to participate.
Because of Telegram’s astronomic association of 260M users, Liquid co-founder Mike Kayamori predicts that “there will be huge demand” for the tokens, possibly authoritative the GRAM auction “one of the better IEOs…in history.”
Telegram is an encrypted messaging app which is accepted amid the cryptocurrency community. GRAM tokens will act as a assemblage of amount for the -to-be Telegram Open Network (TON), enabling users to transact with one another, privately, on the platform.
London-based Xena barter announced aback in March that it was ablution GRAM derivatives affairs to advice accommodate clamminess advanced of the GRAM launch.
GRAMs will be listed on Liquid afterward the absolution of the mainnet, which is currently appointed for some time at the end of October. The tokens will be appear in four batches over an eighteen ages period, but it’s still cryptic how abundant of the absolute accumulation will be accessible in abutting week’s sale.
This will be the aboriginal auction of GRAM tokens to the public. Telegram aloft added than $1.7bn aftermost year from beneath than two hundred accepted investors, but a planned accessible auction was quietly dropped due to authoritative concerns.
A GRAM of profits
Tokens for the auction will appear from Gram Asia, a TON association advocate and all-embracing GRAM holder based in South Korea, which alternate in one of the Telegram clandestine sales.
Gram Asia architect and CEO, Dongbeom Kim, explained that one of the affidavit Liquid was called was because of its acceptability and accepted exchange, which is already adapted by Japan’s FSA. The company already had a “close relationship” with Liquid afterwards it invested in its QUASH badge auction aback in 2024.
GRAMs were awash at $1.33 anniversary during the additional clandestine round, which assured in March 2024. Based on the amount for abutting week’s sale, Gram Asia can apprehend to accomplish a advantageous 200% on its antecedent investment.
A Liquid agent told Crypto Briefing that Gram Asia had set the $4 amount tag, but argued that this is a reasonable markup for the tokens.
“[T]he entities that fabricated the antecedent investments put up abundant basic and shouldered the majority of the first-round, early-investment risk,” the agent said. That allotment enabled TON to arrange a testnet as able-bodied as bang a affiliation with agenda business belvedere Wirecard, they added.
But if Gram Asia’s auction proves to be a success, the area ability see added all-embracing investors offloading some of their GRAM backing to agog retail investors.
With a advantageous margin, of course.
