Difference between revisions of "Telegram"

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(Telegram ICO)
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In 2018, Telegram raised $1.7 billion in four months through an [[initial coin offering]]. The aim of the ICO was to raise funds for the creation of the Telegram Open Network (TON), a digital network that would allow users of Telegram to send payments across international borders. Promotional materials for the ICO said that 5 billion Grams, TON's native coin, will initially be released to users once the network goes live. Investors would be paid $0.37 per token, according to the document. The developers of TON reportedly worked with the Wall Street law firm Skadden, Arps, Slate, Meagher & Flom. Some of TON's initial investors include the Silicon Valley firms Benchmark, Sequoia Capital, and Kleiner Perkins.<ref>{{cite web|url=https://www.nytimes.com/2018/03/04/technology/telegram-initial-coin-offering.html?module=inline|name=Virtual Currency Offerings May Hit a New Peak with Telegram Coin Sale|org=New York Times|date=March 1, 2019}}</ref>  
 
In 2018, Telegram raised $1.7 billion in four months through an [[initial coin offering]]. The aim of the ICO was to raise funds for the creation of the Telegram Open Network (TON), a digital network that would allow users of Telegram to send payments across international borders. Promotional materials for the ICO said that 5 billion Grams, TON's native coin, will initially be released to users once the network goes live. Investors would be paid $0.37 per token, according to the document. The developers of TON reportedly worked with the Wall Street law firm Skadden, Arps, Slate, Meagher & Flom. Some of TON's initial investors include the Silicon Valley firms Benchmark, Sequoia Capital, and Kleiner Perkins.<ref>{{cite web|url=https://www.nytimes.com/2018/03/04/technology/telegram-initial-coin-offering.html?module=inline|name=Virtual Currency Offerings May Hit a New Peak with Telegram Coin Sale|org=New York Times|date=March 1, 2019}}</ref>  
  
In February 2019, Telegram sent a message to its investors saying that the network was 90 percent done, and that it would hopefully have some version of the system out within a few months.<ref>{{cite web|url=https://www.nytimes.com/2018/03/04/technology/telegram-initial-coin-offering.html?module=inline|name=Virtual Currency Offerings May Hit a New Peak with Telegram Coin Sale|org=New York Times|date=March 1, 2019}}</ref>
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In February 2019, Telegram sent a message to its investors saying that the network was 90 percent done and that it would hopefully have some version of the system out within a few months.<ref>{{cite web|url=https://www.nytimes.com/2018/03/04/technology/telegram-initial-coin-offering.html?module=inline|name=Virtual Currency Offerings May Hit a New Peak with Telegram Coin Sale|org=New York Times|date=March 1, 2019}}</ref>
  
On June 11, 2019, [[Liquid]], a Japanese [[cryptocurrency trading platform (CTP)]], announced that it will launch a forward sale of Grams on behalf of Gram Asia beginning on July 10. According to TechCrunch, Telegram itself does not appear to be involved directly in the sale. The Grams will be released to purchasers once TON is completed and operational, a date that was then forecasted to be for the end of October 2019. Tokens will be released in four equal tranches to buyers over the subsequent 18 months. Gram Asia is reportedly the largest holder of Grams.<ref>{{cite web|url=https://techcrunch.com/2019/06/10/telegram-ton-liquid-crypto/|name=Telegram’s crypto tokens are (kind of) going on sale to the public for the first time|org=TechCrunch|date=June 11, 2019}}</ref> Liquid is excluding residents from Japan, South Korea, and the Unites States, among other countries, from the sale.<ref>{{cite web|url=https://www.liquid.com/gram/|name=Website|org=Liquid|date=June 11, 2019}}</ref>
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On June 11, 2019, [[Liquid]], a Japanese [[cryptocurrency trading platform (CTP)]], announced that it will launch a forward sale of Grams on behalf of Gram Asia beginning on July 10. According to TechCrunch, Telegram itself does not appear to be involved directly in the sale. The Grams will be released to purchasers once TON is completed and operational, a date that was then forecasted to be for the end of October 2019. Tokens will be released in four equal tranches to buyers over the subsequent 18 months. Gram Asia is reportedly the largest holder of Grams.<ref>{{cite web|url=https://techcrunch.com/2019/06/10/telegram-ton-liquid-crypto/|name=Telegram’s crypto tokens are (kind of) going on sale to the public for the first time|org=TechCrunch|date=June 11, 2019}}</ref> Liquid is excluding residents from Japan, South Korea, and the United States, among other countries, from the sale.<ref>{{cite web|url=https://www.liquid.com/gram/|name=Website|org=Liquid|date=June 11, 2019}}</ref>
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=== Secondary market ===
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Investors in the TON blockchain were legally prohibited via user agreement from selling their allocations, an unusual clause for typical ICOs. Despite the restriction from "directly or indirectly" selling, trading, or swapping Gram tokens, some investors began trading them on unauthorized secondary markets as early as February 2018.<ref>{{cite web|url=https://www.coindesk.com/alive-thriving-and-totally-unauthorized-inside-the-underground-market-for-telegrams-cryptocurrency|name=Early Investors in Telegram Crypto See 400% Returns – But Buyers Risk It All|org=Coindesk|date=August 19, 2019}}</ref>
  
 
== References ==
 
== References ==

Revision as of 11:50, 19 August 2019

Telegram
Telegram Messenger.jpg
Founded August 14, 2013
Headquarters Dubai, UAE
Key People Pavel Durov, Andrei Soldatov
Products Telegram messenger app
Twitter @telegram
Website telegram.org

Telegram is a messaging platform based in Dubai. It was originally developed in St. Petersburg, Russia, but the team moved to Dubai due to issues with Russian IT privacy policy.[1]

It is considered the preferred messaging platform by individuals in the cryptocurrency space, mostly due to its commitment to privacy and well regarded security.[2]

Telegram ICO

In 2018, Telegram raised $1.7 billion in four months through an initial coin offering. The aim of the ICO was to raise funds for the creation of the Telegram Open Network (TON), a digital network that would allow users of Telegram to send payments across international borders. Promotional materials for the ICO said that 5 billion Grams, TON's native coin, will initially be released to users once the network goes live. Investors would be paid $0.37 per token, according to the document. The developers of TON reportedly worked with the Wall Street law firm Skadden, Arps, Slate, Meagher & Flom. Some of TON's initial investors include the Silicon Valley firms Benchmark, Sequoia Capital, and Kleiner Perkins.[3]

In February 2019, Telegram sent a message to its investors saying that the network was 90 percent done and that it would hopefully have some version of the system out within a few months.[4]

On June 11, 2019, Liquid, a Japanese cryptocurrency trading platform (CTP), announced that it will launch a forward sale of Grams on behalf of Gram Asia beginning on July 10. According to TechCrunch, Telegram itself does not appear to be involved directly in the sale. The Grams will be released to purchasers once TON is completed and operational, a date that was then forecasted to be for the end of October 2019. Tokens will be released in four equal tranches to buyers over the subsequent 18 months. Gram Asia is reportedly the largest holder of Grams.[5] Liquid is excluding residents from Japan, South Korea, and the United States, among other countries, from the sale.[6]

Secondary market

Investors in the TON blockchain were legally prohibited via user agreement from selling their allocations, an unusual clause for typical ICOs. Despite the restriction from "directly or indirectly" selling, trading, or swapping Gram tokens, some investors began trading them on unauthorized secondary markets as early as February 2018.[7]

References