Secondary trading of Gram tokens will begin on the Liquid exchange on July 10
On July 10, the Japanese cryptocurrency exchange Liquid will open trading in GRAM tokens of the TON project from the telegram messenger team. However, it will again be secondary trading with a number of restrictions.
Despite the fact that Liquid (Quoine) is a regulated exchange under Japanese jurisdiction, the beginning of GRAM trading has a number of oddities. In fact, we are talking about another derivative with obligations from Gram Asia, one of the participants of the initial token sale. A full-fledged gram listing is planned only in October.
The offer will be limited as the tokens are provided by one of the early investors of the project within the framework of the acquired share. It is interesting that, as before, the ton project itself remains on the sidelines and does not comment on the opening of trading with its tokens. The role of a liquidity provider will not be Telegram, but the Korean organization Gram Asia, which calls itself the largest holder of Gram tokens in Asia. However, it is not yet reported how many tokens will be offered for sale, at any price.
“All this is in the spirit of Telegram. This is the way they work from the very beginning. Selling tokens from a third-party Fund is part of the messenger’s strategy. The company never hid its plans to start public sales somewhere between the launch of the testnet and the release of the main network. In addition, the company reported that before conducting a full listing in October, it is necessary to work with a regulated exchange”, – said the General Director of the exchange Liquid.
Such actions of Telegram are caused by the desire to avoid possible problems with the law, for example, those that are currently experiencing startup Kik. And yet the company admits that gram tokens can go into circulation in the secondary market, but it is not able to control it.
As for the details on the sale of tokens from July 10, it is currently known only that potential investors are required to undergo a thorough KYC/AML check, and access to sales will be limited for users from a number of countries – in particular the US, Canada and Japan, although the site itself operates under Japanese jurisdiction.
Those who will be able to purchase Gram tokens (or rather, a derivative) from Gram Asia in July will not be able to exchange them on the exchange until the launch of the ton blockchain, scheduled for October this year. Until then, all buyers ‘ funds will be accumulated in the USDC stablecoin. After the official release of Gram, the token distribution process will be carried out in four stages – an equal number of tokens will be released every three months.
Recall that at the end of may users became available archive light client with all the necessary libraries to run. Of course, this is not the final version, but only a preliminary test build, which does not contain the full code, and is a simplified version for compilation and communication with the test server.