The altcoin news today show that the plans for the Telegram GRAM token are apparently coming to an end – and that the token will reportedly be here within the next two months. The coins will be delivered in this timeframe, the company said.
Right now, the deadline to deliver Grams is still set for October 31. This is when the major messaging platform is planning to get all the coins – and why it is trying to do it before the date. The Telegram GRAM token, according to New York Times, must be delivered by this date – and if the company fails to do this – it would need to return $1.7 billion to more than 100 investors.
While some people will immediately be able to sell their Grams on unspecified exchanges, the latest cryptocurrency news feature a report that shows some of the earliest investors for the Telegram GRAM token agreed to a holding period.
As we previously reported, Telegram was said to be looking for East Asia – and specifically some exchanges in Japan – where it planned to officially debut the Telegram GRAM token. In July this year, the Gram went on pre-sale on the Japanese exchange platform Liquid by Quoine at the price of $4 which was 201% more than what the Telegram investors paid in the second initial coin offering (ICO) round in March 2018.
The report in the New York Times also shows that a test version of the Gram network will be released in the next week or two. The Grams, as it says, are intended to make it possible to buy and sell other goods on Telegram. As for the Gram digital wallets, they should be available to the 200 million to 300 million global users of Telegram. Also, the Gram network is promised to be decentralized with Telegram not having control over how and where the coins can move.
According to one UK-based author named David Gerrard who was featured in the altcoin news, the Telegram GRAM token can “hardly get something compliant with regulators in place by the end of October.”
“Telegram’s plans for Gram look very like Facebook’s plans for Libra — a large network runs a token as a private interchange currency, with completely private issuance, with questionable backing,” Gerard outlined in a recent blog post.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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