Telegram may waive the public ICO

Draft Telegram Open Network (TON) Pavel Durov may waive the holding of public ICO, previously scheduled for March 2018. The company’s management may be limited to two rounds of closed sales, and the remaining coins to allocate to the team project.

To this opinion came experts of RBC, after reviewing copies of the two presentations, where investors are invited to participate in the second closed round ICO, which is currently underway. Several participants confirmed the authenticity of these materials.

The presentations indicated the total amount of plan fees, will be $3 billion. The company intends to release 5 billion coins Gram, 52-54% of which will be sold in two rounds of closed sales among investors, 4% — will be distributed among developers TON, and the rest of 42-44% will remain in reserve.

The company even in private sales can raise the necessary funds, RBC reported one of the sources. In such circumstances, it is much easier to refuse «unsuitable» investors, unlike a public offering.

Information about the planned Telegram the launch of blockchain-project of issuing its own cryptocurrency and holding of ICO appeared at the end of last year. Later, the network was distributed to 132-page document with signatures technical Director Nikolai Durov, in which you were also talking about launching a blockchain platform and voiced her name — the Telegram Open Network (TON) is the name of the cryptocurrency-Gram.

Currently closed the second round of the ICO, the composition of investors which is limited, and the price of tokens has increased significantly. It is known that in the first round the price of a Gram was $0.38 per coin. Of the proposals for participants in round 2 it follows that the cost of tokens rose to $1.1 — $1.45.

It is known that a venture capital Fund Da Vinci Capital plans to register in the Cayman Islands a new company — DVC TON Fund, which will receive payments from investors. Then, the funds will be transferred to the account of a legal entity — seller’s token.

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