Liquid Exchange to Offer First Public Telegram GRAM Sale in July

Colin Muller

Gram Asia, a private holder of a large amount of Telegram GRAM tokens, has reached an agreement with the Japan-based Liquid exchange platform to resell an unspecified number of the tokens to the public, according to a report in Yahoo Finance. It is the first public sale of GRAM tokens, although they will not be tradeable until October.

Telegram the company are building a blockchain layer atop their widely used private messaging application of the same name, the Telegram Open Network (TON), which is set to go online in Q3 this year.

Although Telegram had originally planned to hold a 50/50 public-private sale of GRAM tokens for the TON platform, they scrapped these plans earlier this year citing regulatory concerns; and due to the fact that had already successfully raised $1.7 billion from private investors.

Liquid, a Japan-based cryptoasset exchange that's not to be confused with Blockstream’s Liquid Bitcoin sidechain, will begin selling the tokens next month. But critically, users will not be able to withdraw or trade these tokens until the platform goes live - with the release slated for October 2019. In fact, the release of purchased GRAM tokens will not occur at once, but rather in four releases over the course of 18 months.

GRAM release schedule(source: Liquid.com)

Another notable caveat is that customers from the U.S., Canada, Japan, and a number of other countries will not be eligible to buy GRAM tokens on Liquid. Holders of Liquid’s proprietary exchange token QASH will also apparently reap discounts if they use it to buy GRAMs.

Good for Liquid

Liquid is a highly regulated exchange with hundreds of employees spread out across Asia, and valued at a billion dollars after securing additional investment a couple of months ago. At time of writing, the exchange only processed a modest daily trading volume of $144 million, according to CoinMarketCap.com - about 1/10th of Binance’s trading volume.

QASH chart 11 june 2019(source: CryptoCompare)

The QASH token has seen a modest bump in price since the announcement, climbing about 20% in price between the news and time of writing.

Dubai-Based Real Estate Giant Aiming to Launch Token on JPMorgan’s Quorum

Siamak Masnavi

Dubai-based real estate developer Emaar Properties says that it plans to launch this year a blockchain-based referral and loyalty platform called EMR that is being built on Quorum, JPMorgan Chase's enterprise-focused fork of Ethereum.

Emmar Properties is one of the world's leading real estate development companies. Its best-known project is Burj Khalifa, which is the world's tallest building. This is a skyscraper in Dubai, United Arab Emirates (UAE) that has a roof height (i.e. total height - the height of the antenna) of 828 m (2,716 ft ).

According to a report published on October 17 by local media outlet ArabianBusiness.com, the EMR platform rewards Emmar's customers with EMR tokens. Emmar says that these tokens "will not only be redeemable in Emaar’s real estate, hotels, ecommerce operations and malls, but can also be traded with other users."

Emmar Chairman Mohamed Alabbar had this to say:

We didn’t become Emaar by standing still, or by thinking small. By launching the EMR utility token ecosystem, Emaar is expanding the concept of connection. We aren’t just looking into the future — we are building it.

It will be possible for customers to use a mobile app (available for iOS and Android) to "access the referral and loyalty system and earn or redeem EMR tokens."

Hadi Kabalan, director of tokenisation at Emaar, stated:

We have an existing ecosystem and a large customer base, as well as millions of further potential users globally who have yet to discover Emaar. Our blockchain token platform positions us to grow our user engagement with today’s digital-native, mobile-first generation who expect a fairer internet and want to be part of the conversation.

For those of you who have not come across Quorum before, here is how a member of the Quorum team described the project in a reply to a Reddit post in November 2018:

"Quorum is a fork of the go-ethereum (geth) client with a few updates that add enterprise level features such as supporting private txns, node permissioning, fast consensus algorithms, block finality, and some others. It was originally created through a joint effort by JPMorgan and core engineers from the Ethereum Foundation. Beyond that, it has advanced to keep up with geth releases and has a full time team dedicated to it and its sub projects... Quorum does not have a mainnet, and the expectation is that users of it set up their own network, be it private or otherwise (we are aware of several that are public)."

Featured Image Credit: Photo via Pixabay