Cryptocurrency • July 4, 2019, 2:32AM EDT

Telegram’s unreleased Gram tokens to sell at triple the private token sale price

The Block

Messaging giant Telegram’s unreleased Gram tokens are set for sale to the public at a price three times of its private placement.

The Simple Agreement for Future Tokens (SAFT) for one token will be sold at $4 apiece on July 10 by a Korean company Gram Asia, allegedly the largest holder of the tokens in Asia, on cryptocurrency exchange Liquid. It's not yet clear whether Gram Asia is allowed to resell the SAFT. 

The price is 200% higher than Telegram's second round SAFT price of $1.33 and almost 1000% up from the first round price of $0.38. If gram purchased with Liquid’s native cryptocurrency QASH, the price will be discounted to $3.50 per token, per the website.

Gram is the yet-to-be-launched native token for the Telegram Open Network (TON), a blockchain network by the giant, which is expected to launch on October 31.

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Yogita is a senior reporter at The Block and covers all things crypto. Before joining The Block, Yogita worked for CoinDesk and The Economic Times. She can be reached at [email protected] Follow her on Twitter @Yogita_Khatri5.

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