Gram Token Sale: different offers, many doubts

A comparative table of the various Gram token sales has been published on the Telegram TON Board channel. 

The analysis was carried out by Telegram Open Network (TON) investors on seven public offers found on the market. 

The Gram tokens have actually not yet been officially released, but several pre-sales have already begun. In fact, the ICO has ended some time ago, so the tokens have already been purchased and some of the buyers have decided to put part of their tokens on the market, even if these have not yet been released. 

The token sale on Liquid

The first pre-sale was that of Liquid, which began on July 10th at a price of 4 dollars, although there are also others. These include both real pre-sales of the token and the trading of not guaranteed futures, while other offers are real scams. 

The problem is that only at the time of the launch of the TON mainnet will it be possible to know for sure who is actually offering Gram tokens and who is trying to defraud investors. 

For example, as far as the LBank offer is concerned, there is too little information on the website: a couple of lines in Chinese written a year ago speak of “redeemable 1:1 vouchers“. 

According to data provided by LBank, in 18 months of trading, the total volume of Grams traded was 248 million, but these numbers do not seem very likely. 

As far as BitForex is concerned, the statement reads that

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

Xena Exchange, on the other hand, is listing futures on non-redeemable Grams (XGRAM), which expire at the launch of the token. 

“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“.

Whereas on the Waves DEX anyone can list a token: the creator of the “GrFutures” does not have a website, a product description page or a contract specification and only uses a Telegram channel for communications. 

The tokens that can be traded on the Cross exchange are reported to be convertible into official Gram tokens. The exchange states:

“Once Telegram’s “TON” is released, you can exchange equivalently for GRAM tokens at any time“.

However, the origin of these Grams is not known. 

The Upxide pre-sale ended on July 25th, but users can now trade deliverable futures. 

Generally speaking, the information available is often limited, so much so that most of the sales are described as vague and suspicious. Moreover, with the exception of Liquid, no one imposes the necessary territorial restrictions on deliverable futures: this means that unrestricted offers could violate the terms of the contract for the purchase of real Gram tokens.

Therefore, with the exception of the Liquid pre-sale, which has already been completed, it is legitimate to have doubts about the legitimacy of the other offers.