Telegram has published some news about the TON/Gram project on its official website.
It appears that the issue related to Gram’s ICO is heading towards a real confrontation with the SEC, which may be of concern to investors.
In the long post published by Telegram, there is no explicit reference to the SEC, but there is a whole paragraph dedicated to the decentralisation of the TON project. In fact, the Telegram team expressly states that they are creating a decentralised platform that, once launched, will not entail any kind of obligation on their part and that they will probably not be responsible for its maintenance or the creation of dedicated apps.
Furthermore, Telegram explains that they will have no control over TON because the code will be public and open source and the company will have no special rights and responsibilities over its management.
Telegram: the latest news in response to the SEC
To explain their position, the team uses the example of an architect and a skyscraper: the same way an architect who designed a skyscraper cannot control what happens to the building after it is built, neither will Telegram be able to control TON after the launch.
This stance, which until now was not very clear, seems to be a response to the demands of the SEC: in other words, a sort of unloading of responsibility onto unknown people.
In this regard, the Telegram team adds that the Gram token cannot promise any gain because it will be nothing more than a means of exchange between users of the TON ecosystem. In other words, it cannot be considered a security.
Indeed, the Gram tokens do not represent a stake in Telegram or its affiliates, they do not represent any rights in relation to the company, and the token holders will receive no dividend.
In this case too, the post provides an example to better explain the company’s position: Gram tokens do not give their holders any special rights, just as owning Euro does not imply the ownership of European Union shares.
To be even more explicit, they clearly say that the purchase of Gram tokens is a risk, to the extent that these can not only decrease in value over time but even hypothetically lose all their value.
In addition, once the TON platform is launched, Telegram and its affiliates do not promise to develop applications or features for it, because its goal is to leave everything to the decentralised community of third-party developers, in the hope that they will contribute to the TON ecosystem by developing smart contracts and applications.
Currently, TON and Gram are still in the Beta Test phase, further information can be found at test.ton.org.
Finally, the post also reminds that it is not yet possible to buy or sell Gram tokens and that what is available online are pre-sales, as well as scams.