Telegram May Offer Gram Tokens Ahead of Schedule
Based on a report, the first releases of the GRAM token may start before the October 31 deadline.
Telegram may start unrolling its long-promised Gram token ahead of October 31, reported the New York Times. The event would mark the first foray of a mainstream chat company into the crypto space, ahead of Facebook’s attempt to build the Libra network.
The Telegram ICO held in 2018 was the largest in history, placing Gram tokens worth $1.7 billion’s equivalent. But buyers had to wait a long time for the token’s release. Smaller sales of the Gram were held last month on the Liqui exchange, commanding a higher price. Reports also surfaced of a still-unlicensed trade of the TON ticker, based on the promises of holding the Gram asset.
Telegram is also related to the crypto sector, in being one of the preferred modes of communication for crypto projects.
The Telegram ICO, despite backing from large-scale clients, underlined the risk of hyping up the usage of blockchain. Telegram had to face additional scrutiny, and delayed significantly its token launch. Still, the creation of the actual TON assets and the start of trading may be encouraging for the future of Facebook.
The other project that aimed to link a chat app with a crypto asset was Kik, but the sale and creation of the KIN token led to a head-on encounter with the US Securities and Exchange Commission. Since then, the price of KIN has crashed to a fraction of its ICO price.
The Telegram ICO and subsequent Gram distribution may be met with warnings about involvement with terrorism financing. Recent analysis shows that the usage of crypto assets is accelerating for Islamic extremists, and Telegram’s platform and tokens may add another channel for the largely unobserved transfer of funds.
At the same time, regulators seek ways to explore blockchains and apply rules and limitations similar to banking.
The launch of Telegram’s mainnet is still 67 days away:
Still, there may be ways to issue a preliminary token and test the interest with a pre-launch asset.