According to Bloomberg News on July 3, South Korea’s Gram Asia has been selling its Gram rights for $4.00 per token since July 10. The proposed price is three times the original price of $1.33 for the second issue of the coin (ICO) in March 2018.
According to the company’s website, the sale was apparently done entirely through Liquid on the Japanese cryptocurrency exchange on July 10. Citing an email from the exchange Bloomberg reports that users who purchased Gram using the exchange’s native token QASH would receive a $0.50 discount per token.
In March of this year, Liquid also hosted Gram ICO, which raised $850 million at the time, bringing its total valuation to $1.7 billion. And Telegram canceled all its gram tokens for public sale. Ordinary investors will not be able to purchase Telegram’s Gram tokens until such tokens are traded on the exchange. However, there’s still specific time of issue. On the other hand, because Telegram has a large user base and early investors have received high profits, the secondary market for buying and selling Gram tokens has emerged and some investors have already achieved considerable returns.
Telegram’s goal is to build TON (Telegram Open Network), a blockchain-based platform that extends the Telegram messaging application with 200 million active users to a range of other services, including payment, file storage, accessibility browsing, and Decentralized applications are available on the platform.
Although Liquid originally announced that it would host the sale on June 11, a Telegram source told Cointelegraph that there is no relationship between the two companies. The source further stated that the June 11 press release was the first time they heard about Gram Asia.
In addition, an investor in Telegram commented that no one had the right to sell Gram tokens until the official launch. For a symbolic purchase contract, Per a token purchase contract, the buyer agrees to not:
“ENTER INTO ANY swap or other AGREEMENT THAT TRANSFERS, in whole or in part, ANY OF THE ECONOMIC CONSEQUENCES OF OWNERSHIP OF THE INVESTMENT”
As previously reported by Cointelegraph, Gram Asia is Asia’s largest Gram token holder. In addition, the exchange apparently has a deal with Gram Asia, but not to Telegram.
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