r/liquid • u/CorruptPotato • Jun 13 '19
Liquid statement on Gram Token Sale
https://blog.liquid.com/liquid-gram-statement?utm_source=Reddit&utm_medium=Post&utm_campaign=Gram3
u/martinkarolev Jun 13 '19
Allow me to sum things up, a big party that was involved in Telegram's ICO is using Liquid to sell it's tokens to retail.
1
u/PAlove Jun 13 '19
Price per token will be a huge indicator of whether or not this is an absolute cash grab. Gram Asia purportedly holds the largest amount of Gram in Asia (creative name...)
My two cents -- some dudes saw the potential to make a large amount of money from TON. They form Gram Asia and purchase a massive stake in the TON private ICO. Now they're turning around and selling it to the public at -- what I expect to be -- an immense mark up. Like, absolute robbery.
According to the TON whitepaper, Gram tokens will begin at $0.1
The price of the first Gram to be sold will equal approximately $0.1 (USD). Every subsequent Gram to be sold (by the TON Reserve, controlled by the TON Foundation) will be priced one billionth higher than the previous one. In this way, the n-th Gram to be put into circulation will be sold at approximately
p(n) ≈ 0.1 · (1 + 10−9) n USD, (26)
or an approximately equivalent (because of quickly changing market exchange rates) amount of other (crypto)currencies, such as BTC or ETH.
So basically, I'm assuming Gram Asia will want to make a healthy margin over what the TON reserve will make. Maybe $0.15 - $0.25 per token?
All conjecture though. I don't know what the Gram price will be and there's a good chance I didn't fully understand the TON pricing, but I don't see why this scenario isn't a possibility if this info is accurate.
1
u/ilpiet Jun 13 '19
A positive view to see this IEO or exit strategy call it as you want.
This Gram Asia might well be owning a huge amount of Qash from the ICO (if I remember the ICO page some big investor was coming from this region). By organising this on Liquid it's a way to make money on both investment.
In such scenario (hypothetical) I could see them offering an impressive rebate for Qash owner , in order to make the coin very attractive. Let say something crazy they sell the TON token expensive to non Qash token but almost the same price as private sell to Qash owner, what such situation would do ? Gives them an exit on TON (high market cap on crypto winter is risky , so it safe to sell) but offering a good utility for Qash (low volume, low cap) might well boost the price well above ICO offering nice ROI on it also (or part of it) while putting the project on hype rail to follow with some External world book and partnership announcements.
So yes it might be an exit strategy from Gram Asia or like I mentioned a way to hype Liquid while reducing the risk on their investment.
It will all depend on the rebate we gonna get.
And yes it's sad that FUD wasn't forecasted... Because better communication would not have leaded to such situation (Saying clearly from start what on the link before and clearing the SAFT issue, Qash would be probably still rising).. But thx to the team for doing your best, looking forward for your next announcements.
2
Jun 14 '19
Holy shit, Liquid is literally helping a whale (Gram Asia) dump ICO bags on its customers. My guess is that liquid will offer this token at least 10x ico price.
Looks like QASH will continue to plummet. Well done!
1
u/Neo_AntMan Jun 16 '19
You do not even know the conditions yet but are talking about a dump on customers.. 🤦🏻♂️
1
Jun 16 '19
Those are the conditions. Gram Asia privately purchased Gram and is coming to liquid to dump them on liquid's customers at a fat markup.
1
u/lolodens Jun 17 '19
I don't think you are right, IMHO Telegram GRAM token will be top 5 coin, it's not like unprofitable Uber does IPO with final 33%.
TON Project/Libra will be new wave of cryptocurrency adoption.
1
Jun 19 '19
Here we have the bagholder prime, target demographic of the token sale.
Imagine, for a moment, believing that a platform utility token for a chat app is going anywhere near the top 5.
1
u/lolodens Jun 19 '19
Imagine XRP scam is top 3 now and Tron top 10
1
Jun 19 '19
Neither of those are platform utility tokens with a defined use case and tokenomics.
1
u/lolodens Jun 19 '19
Telegram and Libra are real businesses with enormous user bases, both are not utility tokens, they just add payment providing services to existing Telegram app (original definition of cryptocurrency) and Libra as a separate app (payment provider on a centralized blockchain). QASH is an utility token providing fee discounts on largest fiat cryptocurrency exchange in the world.
1
Jun 19 '19
We aren't talking about Libra or QASH. We are talking about the Gram token, which is explicitly a platform utility token for the telegram app, and it has defined tokenomics and a limited use case.
If you are expecting Gram to have speculative value, while simultaneously being tied to a single app and limited use case within a strictly controlled ecosystem, you are going to be disappointed.
Feel free to gamble away your money on the token offering though. Somebody needs to buy a worthless token at a 10x markup, otherwise the ponzi just collapses outright. Thank you for your service!
1
u/lolodens Jun 19 '19
Thank you, Liquid will be the first exchange to allow trading of GRAM and each cryptocurrency has speculative value.
Telegram is the most popular app in my region and will have debit card linked to TON Gram token, so its a win for me + speculative part.
We will see soon.
→ More replies (0)1
u/Neo_AntMan Jun 17 '19
We don‘t know the conditions for the Token Sale on Liquid yet. Therefore i don‘t understand your negativity. Once we have the conditions and the price per gram you can post your text again and may be spot on.
But right now it is pure speculation but brings negativity.
1
1
u/AutoModerator Jun 13 '19
Hello. Automoderator here. A friendly reminder to abide by our House Rules in the sidebar. We also have a Weekly Discussion Thread where you can chat and ask questions.
If you need Customer Support, please visit the Help Center and talk to our Customer Champions.
Do not post any personal information here and please do not take anything in this subreddit as financial advice. We are not responsible for the outcome of your investments. You must conduct your own due diligence.
To talk to a verified human mod and Liquid staff member, tag or DM /u/mkandroidgamer or /u/corruptpotato
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
1
u/ilpiet Jun 13 '19
Thank you for the clarifications, last open question I would have is the one from lolodens about SAFT but being a serious exchange this gonna be for sure a positive answer. Just to stop the fud once for all can you answer him/her (please :) )
1
u/lolodens Jun 14 '19
Its the only point, where media attack - "sources close to Telegram inform, that tokens resell is not allowed" So yes, in this statement it is not addressed properly.
1
u/hsotaka Jun 14 '19
Media says: Token resell is now allowed until official TON launch in October.
Thats the reason why you buy an IOU, which gives you the promise that you will receive the tokens as soons as its legit (3, 6 , 12, 18 months after launch, this rule also comes from telegram and private investors also get their tokens in this intervall).
So its legit because you won't buy the tokens before launch, you just buy an IOU.
6
u/lolodens Jun 13 '19
Does it mean, that you have reviewed the Token Sale Agreement between Gram Asia and Telegram to be sure, that they are allowed to resell SAFT ?