Telegram is lately determined to launch the latest Gram ICO token, and the whole community is already praising it. Arrington-based crypto loans company Nexo lately stated that they are ready to accept the gram ICO token from Telegram as collateral. But the main issue here is that the tokens will not be available for some time.
Nexo stated that, as soon as the gram tokens have been collected in the upcoming public sale which is going to be held by Liquid Exchange Platform on July 10, it will enable the customers to use the tokens as backing for instant credit card lines and forthcoming credit card.
The upcoming gram sale will be limited, but it will be open to the public, which is being conducted by a Korean firm Gram Asia, which alleges itself to be the largest holder of gram token.
At the time of token sale in 2018, the platform raised collected $1.7 billion via the course of two phases, that is the highest amount grabbed by an ICO at that time. In one statement, Liquid mentioned that Telegram is not linked with the Gram offering.
Here, the ICO Funding will be used to build Telegram Open Network (TON), the project is mainly focused on decentralizing different aspects of digital communication. Some of the areas which will be benefited by this move are file sharing, browsing, and transactions.
Gram Asia also mentioned that the token would go on sale at $4 each. Here, customers could either purchase tokens with USD or USDC Stablecoin; however, users won't possess these tokens for a while, as the tokens will not be available to the investors instantly.
Tokens will not be circulated before the TON launch, and users will see four installments over 18 months. Nexo mentioned CoinDesk,
“If the mainnet launches, users would be able to claim their tokens at launch and immediately leverage them to borrow from Nexo, or to spend via our upcoming credit card.”
TON will officially go live in the last quarter of this year, one representative stated.
In any event, if grams went for wider public offering, then it might end up becoming “one of the largest cryptocurrencies by market cap,” says Nexo. The gram is likely to observe a major boost at that time as the TON network is fully released.
Nexo offers a chance to have an insured account that instantly approves loans for customers in around 45 fiat currencies. All the crypto holders have a chance to earn "up to 8% interest" on their assets. Nexo came into the market in April 2018 and is supported by TechCrunch founder Michael Arrington. Also, he holds a particular stake in the startup.