Breakdown of existing GRAM offerings

Over the past few months, one way or another, numerous exchanges and crypto shops have begun selling Grams. Some of them enter into strategic partnerships with TON investors, some of them sell unbacked futures to catch the hype, while the others are simply scammers. Unfortunately, till the mainnet launch, the number of fake Gram sales will only increase.

In the table below are the offerings we were able to find:

Comments to the table:

LBank

There is alarmingly little information available on the exchange website. We only found a couple of lines on Chinese (written a year ago) saying something about “redeemable 1:1 vouchers”. 18 months of trading with a total volume of 248 millions of Grams. Do not take these numbers seriously, they are inflated. Looking at the price chart, you can clearly see that it is the work of market-making accounts.

BitForex

According to the announcement: “BitForex has entered into strategic cooperation with TON private token sale participants and currently has the right to use 1 million GRAM tokens.”

Liquid

Initial exchange offering of Grams provided by Gram Asia. More details in our previous post. According to the exchange, the offering was sold out shortly after the launch.

Xena

Xena Exchange is quoting non-deliverable GRAM futures (XGRAM), expiring at the launch of the token. According to the exchange: “If the real token is not released or a reliable index cannot be built due to any other reasons by 28 February 2020, all XGRAM Listed Perpetual positions will be closed using the price 5.90 USDT per XGRAM.”

Waves

First of all, this offering is not made by the exchange itself. Anyone can list a new coin on Waves DEX. The persons who created this “GrFutures” coin do not have a website, coin page or contract specification, they only use a Telegram channel for communications. After reading their posts, it becomes obvious that it is a pure SCAM, so be careful.

Cross Exchange

The exchange distributes its own GRAM token that can be then converted to the official GRAM token. According to the exchange: “Once Telegram’s "TON" is released, you can exchange equivalently for GRAM tokens at any time.” The source of Grams is not defined.

Upxide

According to BusinessKorea: ”Upxide announced on July 14 that it will sell Telegram’s cryptocurrency “Gram” for 14 days until July 25 in partnership with global cryptocurrency exchange Liquid.” The offering is already over. However, the users of the exchange can now trade deliverable Gram futures. The whole website is on Korean, you can check the description here.

We have also found this hilarious Gram token sale. The website contains a random mix of logos and descriptions of TON, Grams and Libra. The ethereum address of the token sale has some activity, but we hope that it is not from real investors.

To sum up:

• Lack of information, making the majority of the offerings vague and suspicious.
• No regional restrictions on deliverable futures (only Liquid stands out). It means that offerings with no such restrictions may be in violation with the terms of Grams purchase agreement.
• Scammers still terrorize investors, despite all these offerings from big exchanges.
• A preliminary stage of defining Grams market price has begun. The prices vary since no risk-free arbitrage opportunities exist yet.

We look forward to the mainnet launch that will resolve all the uncertainty around these offerings.

THE SECOND PART >>

This post does not constitute any form of a legal, tax or investment advice. Neither it is a solicitation to buy or sell any asset, security or enter in any form of business relations. The post is for information purposes only.

This post was published in TON Board Telegram channel which was created by investors in the Telegram Open Network (TON) for investors in the TON and major holders of Grams. We publish confirmations and refutations of rumors, insights available to investors directly from the Telegram team, as well as analysis of documents and technical solutions provided to investors, and data on the development of the ecosystem and projects working in it.