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What’s happening with Liquid & Telegram’s GRAM token?

 

Highly acclaimed, Japan-based, crypto-exchange Liquid will be the first to host messaging app Telegram’s Gram tokens when they go on their public sale, basis a look at Liquid’s website.


Telegram, who haven’t provided an official statement on the move, were in the spotlight with their blockbuster private initial coin offering (ICO) in late 2017 for the Gram token, which raised $1.7 billion for the Telegram Open Network (TON) project. At the time, it was believed there would be no public phase to follow, but the largest Gram holder organization, Gram Asia, has partnered with Liquid to offer tokens just to Liquid users. Gram Asia reportedly supports the TON ecosystem in capital deployment and through its vast network of strategic partners to provide operations in the form of an Incubator, Node, Liquidity and Payment.


The sale will start on July 10th, 2019 with bonus rates of 25% for the Liquid native QASH holders. In a non-IEO, non-ICO public sale, Liquid is simply just offering an avenue for Gram Asia to liquidate their tokens which begs the question, Why is Liquid doing this? The GRAM token isn’t listed on Liquid, do they really need the public sale to list GRAM on the exchange or is the publicity just a way to pump the token and offer the best deal to Gram Asia?

 

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The requirements for participation in the initial public sale are strange - currencies accepted are only USD & USDC (a stablecoin pegged to the USD). The GRAM token will not be tradeable post the sale, but instead they will be held in stablecoin USDC in escrow until October.


This begs the question - what’s going on here? Why should Gram Asia want to create an artificial liquidation event? Why should Liquid agree to do this when listing isn’t immediate? And now more than ever, investors in the public sale, DO YOUR OWN RESEARCH!

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