Gram (cryptocurrency)

Gram

Development
Original author(s)| Nikolai Durov
Developer(s)| Telegram Group Inc.
Ledger
Timestamping scheme| Proof-of-stake

Gram is a cryptocurrency based on Telegram Open Network blockchain and is being developed by Telegram.[1][2]

## Contents

* 1 Overview
* 2 History
* 3 See Also
* 4 References

## Overview

Gram is a cryptocoin for use as payment inside of Telegram's messaging app.[1] It will operate on Telegram Open Network (TON), which will be like Ethereum, [3] but provide other services like storage, micropayments, and proxies. Telegram plans to buffer market coin value ups and downs with regulated buying and issuing of the coin from a reserve.[4]

## History

Before launching its own cryptocurrency called Gram, Telegram in order to attract investments to develop TON held two rounds of ICO. Tokens sold to investors will later be exchanged for Grams in a ratio of 1 to 1. [5]

In February 2018, during the first round of the ICO 2.25 billion tokens (45% of the total number of future Grams) were sold at a price of $0.38 per token. The minimum amount of investment to participate in this round was $20 million. Then the second round of token offering began. During the first part of this offering, the price of one token was $1.33. The minimum investment amount for participation in this round was $1 million, taking into account the volume of placement, it can be calculated that 640 million tokens were sold during this placement. That is, during the last two placements 2.89 billion tokens were sold (58% of the total number of future Grams). Next to be the final part of the second token offering. Thus, Telegram intends to attract in the near future another $850 million, and in total Telegram expects to gain $2.55 billion from ICO.[4][6][3]

April 13, 2018, Russia banned Telegram's messaging app, where the cryptocoin would be used. [2]

## See Also

* Telegram plans multi-billion dollar ICO for chat cryptocurrency

## References

1. ↑ 1.0 1.1 Khrennikov, Ilya; Russo, Camila (21 Mar 2018). "How Telegram's Crypto Coins May Attract $2.6 Billion: QuickTake". https://www.bloomberg.com/news/articles/2018-03-13/how-biggest-ico-wants-to-put-money-into-your-messages-quicktake. Retrieved 12 October 2018.
2. ↑ 2.0 2.1 "Russian Court Bans Telegram on Heels of $1.7 Billion ICO". 16 Apr 2018. https://www.ccn.com/telegram-banned-in-russia-on-heels-of-1-7-billion-ico/. Retrieved 12 October 2018.
3. ↑ 3.0 3.1 Liptak, Andrew (1 Apr 2018). "Telegram has raised a total of $1.7 billion from its two pre-ICO sales". https://www.theverge.com/2018/4/1/17186004/telegram-presale-open-network-app-ico-cryptocurrency-ton. Retrieved 12 October 2018.
4. ↑ 4.0 4.1 Korolev, Igor (2 Apr 2018). "Under what conditions will Telegram return to investors the collected $ 2.55 billion" (in Russian). http://www.cnews.ru/news/top/2018-04-02_pri_kakih_usloviyah_telegram_vernet_investoram. Retrieved 12 October 2018.
5. ↑ Kharif, Olga (13 Mar 2018). "Is Telegram's ICO Overvalued? Here's One Way to Figure It Out". https://www.bloomberg.com/news/articles/2018-03-16/is-telegram-s-ico-overvalued-here-s-one-way-to-figure-it-out. Retrieved 12 October 2018.
6. ↑ Hanly, Ken (1 Apr 2018). "Telegram messenger service raises $1.7 billion from cryptocoin". http://www.digitaljournal.com/internet/telegram-messenger-service-raises-1-7-billion-from-cryptocoin/article/518798. Retrieved 12 October 2018.

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