Japan-based cryptocurrency exchange Liquid has revealed the wallet addresses for Telegram GRAM tokens that were sold ahead of release in July.
Liquid Exchange GRAM Sale
While messaging giant Telegram has yet to officially mint or distribute its token GRAM, Liquid exchange held a limited pre-sale on the coin in July for retail investors that missed the initial coin offering. The sale was met with some controversy at the time, as Liquid was charging investors $4 per GRAM–three times the $1.33 per GRAM in March 2018’s ICO.
Given the magnitude and hype of the Telegram ICO, which raised $1.7 billion, it appears Liquid found no shortage of investors willing to pay a premium on the tokens. The exchange announced the wallet addresses for investor funds ahead of the release of GRAM, in an effort to promote investor transparency.
According to the release,
“Following completion of the Gram Token Sale, we are pleased to announce that all participating customer funds from the sale on Liquid are stored in a publicly verifiable, segregated blockchain wallet, where funds will remain in cold storage until Gram tokens are released and delivered by the seller, Gram Asia.”
As verified by etherscan, the wallet holds more than $4 million of the USDC stablecoin, indicating that Liquid sold around 1 million GRAM in their pre-sale. Liquid reports partnering with Gram Asia to distribute the Telegram tokens, who is reportedly a major investor in 2018’s original ICO.