Messaging Giant Telegram's ICO Token Is at Last Going on (Limited) Public Sale

Telegram's gram token, previously sold to accredited investors in one of the biggest-ever ICOs, is to be offered to the public via a third party firm.

AccessTimeIconJun 11, 2019 at 10:00 a.m. UTC
Updated Dec 10, 2022 at 8:04 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Messaging app giant Telegram's gram token, previously sold to accredited investors in one of the biggest-ever ICOs, is at last to be offered to the public.

As reported by TechCrunch, a limited sale of the gram token will take place  on the Liquid exchangehttps://www.liquid.com/gram/ from July 10. The cost of the token and the targeted total for the raise are not being disclosed as yet.

The sale is being made via Gram Asia, which TechCrunch says is a Korean entity claiming to be the largest holder of gram token.

Grams have previously been sold only to accredited investors in Telegram's massive two-phase ICO in February and March of 2018 – a sale that brought in around $1.7 billion.

The funds were to be used to develop the Telegram Open Network (TON), an ambitious blockchain meant to decentralize multiple facets of digital communication, ranging from file sharing to browsing to transactions.

According to the gram sale page on Liquid's website, "TON brings speed and scalability to a multi-blockchain architecture that addresses the need for minimal transaction times and airtight security."

It also states that the sale is open to all investors globally, but excludes some nations including the U.S. and its territories and Japan, most likely due to fears that the token could be considered a security in those jurisdictions.

As reported by CoinDesk previously, whether Telegram would eventually hold a public sale at all was in some doubt due to such regulatory risks.

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."

Investors signing up to Liquid for the sale can purchase grams with either U.S. dollars or the USDC stablecoin. A full token launch is expected at the end of October, the website indicates.

Edit (14:20 UTC, June 11): This article has been edited to remove an erroneous statement about the relationship between Gram Asia and Telegram sourced from the Liquid website. The website was corrected after publication of this article. 

Telegram image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.