TON Gram Tokens Invalidated By Liquid Exchange
The sale of Telegram Open Network (TON) Gram tokens had been invalidated by Liquid Exchange.
On Jan. 10 2020 Liquid Exchange wrote a blog post announcing of the new development. Meanwhile, it sent out refunds to who had taken part in the unsanctioned auction. When launching this particular auction, the exchange stated that it would issue refunds to all buyers in the event that TON didn’t end up going live by the end of November 2019.
The Gram Token Sale on Liquid has been cancelled, and all funds that were held in escrow by Liquid have now been returned to Liquid users who participated in the Gram Token Sale. https://t.co/9AioN75xdk — Liquid (@Liquid_Global) January 15, 2020
Contradictions Between Telegram And Liquid Exchange
Prior to the sale, numerous reports indicated that the token sale is undertaken by Liquid Exchange wasn’t related to Telegram in any way. According to the terms of sale released by Telegram:
“Participants in the original initial coin offering (ICO) are not allowed to resell or swap the tokens in any way until 18 months after the launch of the network.”
According to the ICO page by Liquid Exchange, it was expected that the tokens would get delivered in several tranches as soon as the TON mainnet was operational.
Liquid was acting as the transactional agent for Gram Asia. Unconfirmed reports had stated that Gram Asia was at the time the biggest entity holding the Gram tokens in all of Asia. But this was denied by a news report published by Cointelegraph which quoted sources at Telegram who had gone on record to state that they had never heard about this company.
Source: Bitcoin Exchange Guide
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