Telegram has announced it will officially launch its TON blockchain network by the end of October – and has told investors how they can claim their Gram tokens.
Per an official release, the company confirmed,
“Following a successful initial testing period, TON is planned to be launched in late October.”
The company stated that investors will need to generate a public key using a TON key generator, and provide a public key to the token issuer by October 16 to get their Grams. The company made no mention of what would happen should investors fail to meet this deadline. The TON Board also posted the TON source code on a GitHub page.
Telegram also sent out a more detailed letter about the launch to investors. Russian media outlet The Bell says it has seen the full text of this letter, and has spoken to two investors in detail about the TON launch.
The media outlet said that one of the investors believes that those failing to adhere to the October 16 deadline will likely not receive their Gram tokens as quickly as others. However, the investor suggested that any investor who failed to provide the key to the TON team within two years of the launch would have their tokens burned.
The letter also confirms that neither Telegram nor TON Foundation will buy Gram from investors. Meanwhile, the public post states, “Neither Telegram nor the TON Foundation will serve as validators post-launch.”
However, the letter states that it “will be possible to buy and sell the Gram on independent crypto exchanges.” The Bell believes that two platforms that are likely to list the token are Blackmoon, an exchange headquartered in the Cayman Islands, and co-owned by Telegram’s vice president of Business Development, and British exchange DSX.
Previous reports had claimed that the Gram would likely make its debut on Japanese exchanges.
The media outlet believes Telegram is still in talks with “multiple” exchanges regarding listing options.
Neither the letter nor the TON Board announcement makes mention of potential Gram prices. The Bell says that “experts” believe the token will debut at the USD 2.5-3 mark, although another set of analysts claimed earlier this year, per Forbes, that the Gram could make its bow at a price as high as USD 8 per token – rising to USD 15-30 by 2028.
Telegram raised a total of USD 1.7 billion in two rounds of investment for the token. First-round investors paid USD 0.37 per token, with second-round investors paying USD 1.3.
It has been reported that under the terms of the investment, Telegram is contractually obliged to provide tokens to its investors before this month is out, or face the possibility of returning the entire USD 1.7 billion to its 100+ investors.