Cryptocurrency

Gram Asia to sell a portion of its Telegram Gram tokens to the public on Liquid

June 11, 2019, 6:28AM EDT

Telegram’s Gram tokens will be made available on cryptocurrency exchange Liquid prior to the October launch. A Korean company Gram Asia, the largest holder of Gram tokens in Asia, will be selling a portion of their Gram tokens to the public. Currently, neither the price or the amount of tokens for sale has been made public. The token sale will take place on July 10th.

Su Zhu, CEO of Three Arrows Capital, said that Gram Asia will "effectively [be] syndicating its Grams holdings onto Liquid Exchange clients." The tokens being sold will not be released until after TON goes live and purchasers will not be able to transfer, withdraw, or trade them before they are released. Simple Agreement for Future Tokens (SAFT) agreements are usually explicitly prohibitive of being sold on the secondary market. The sale won't be available in more than 50 countries, including the U.S, Canada, and Japan.

According to Liquid CEO Kayamori's comments to TechCrunch, the “token listing is above board,” and is part of the ‘Telegram Open Network’ project plan. Kayamori maintains that TON should be able to launch in October. “A public sale was always planned for the window between the testnet launch and mainnet [full] launch,” Kayamori said. “They wanted to work with a regulated exchange to see how it goes before it gets listed [in full] in October.”

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