Sale of Telegram’s Token Gram on Exchange Liquid Is Not Official: Source

Liquid’s scheme to conduct a sale of gram tokens is not officially connected to Telegram, a source told Cointelegraph

The sale of encrypted messenger Telegram’s token, gram, is not official or endorsed by the company, a source close to Telegram told Cointelegraph in private comments on June 11.

As Cointelegraph reported earlier Tuesday, cryptocurrency exchange Liquid had announced that on July 10, it would be the representative of sales of Telegram’s gram tokens for Gram Asia. Gram Asia is allegedly the largest holder of the token in Asia, Liquid’s press release notes.

However, a source close to Telegram has stated to Cointelegraph that there was no official relationship between Liquid and Telegram.

In separate comments, an investor in Telegram’s token told Cointelegraph that no one has rights to sell the tokens before their official launch, according to an agreement that all investors signed.

According to the aforementioned TON investor agreement — also reviewed by Cointelegraph — purchasers of gram tokens are not allowed to sell the tokens during a restricted period from the date of the purchase agreement to 18 months after the TON launch date.

According to the document, the purchaser is also restricted from entering into a swap or agreement that transfers the ownership of an investment contract in gram tokens, in whole or in part.

Telegram had conducted two private token sale to accredited investors last year, reportedly netting a total of $1.7 billion.

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