What is being sold in this Token Sale?

This Token Sale is for traders to buy Gram tokens, a new digital currency that will be used on the Telegram Open Network (TON). 

What is the Telegram Open Network (TON)?

Telegram Open Network (TON) is a blockchain network project designed to be fast, secure, scalable and capable of handling millions of transactions per second. TON is designed to be a competitor to Ethereum’s smart contracts and decentralized applications while also being extremely scalable

Who can participate in the Gram Token Sale on Liquid?

Users from supported countries and who have passed Account Verification are eligible to participate in the Gram Token Sale on Liquid.

The following Accounts will not be eligible to participate in the Gram Token Sale: 

  • Accounts that fail our Account Verification process.
  • Accounts that have been banned, frozen or suspended.
  • Accounts belonging to users from restricted countries.

Restricted countries: Afghanistan, Albania, Bahamas, Belarus, Bosnia & Herzegovina, Botswana, Burundi, Cambodia, Canada, Central African Republic, Cote D’Ivoire, Crimea, Cuba, Democratic People’s Republic of Korea, Democratic Republic of Congo, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Iran, Iraq, Japan, Kosovo, Kyrgystan, Laos, Lebanon, Liberia, Libya, Macedonia, Malawi, Mali, Moldova, Mozambique, Myanmar (Burma), Pakistan, Serbia, Somalia, South Sudan, Sudan, Syria, Tanzania, Timor-Leste, Trinidad & Tobago, Tunisia, Turkmenistan, Uganda, United States of America (USA), Uzbekistan, Venezuela, Yemen, and Zimbabwe. 

Do I have to verify my account to take part?

Yes. You must have completed Account Verification by supplying a proof of identity, selfie and proof of address to take part in the Gram token sale. For help with account verification, please visit the Liquid Help Center. 

What will happen if my account is not verified before the token sale?

If your account status has not reached “verified” status by supplying a valid proof of identity and selfie, you will not be able to take part in the Gram Token Sale. For help with account verification, please visit the Liquid Help Center where you can talk to one of our Customer Champions.  

Where is the Token Sale taking place?

The Gram Token Sale is only taking place on Liquid. The sale page can be found on Liquid’s Token Sale platform. 

What is the minimum purchase amount to participate in the Gram Token Sale?

You need to purchase a minimum of [USD20] worth of Grams to participate.

What are the dates of the sale?

You will be able to buy Gram tokens starting from July 10th 2019, 11am UTC, until July 12th 2019, 11.30pm UTC. Sales will be completed when Grams are delivered in accordance with the delivery schedule.

What is the purchase price of the sale?

Gram tokens are priced at 4 USD per token, but with the QASH rebate, you can effectively pay as little as 3.50 USD by holding QASH

What currencies can be used to buy Gram?


How can I get USDC and USD?

USDC and USD are available for trading in spot markets on Liquid, as well as through our Quick Exchange product, where users can quickly and easily swap one currency for another. USD can also be deposited to a Liquid account by a bank transfer.

What is USDC?

USDC is a dollar-pegged stablecoin issued by CENTRE, an open source technology project launched with contributions from founding members Circle and Coinbase. 1 USDC is valued at around 1 USD. USDC can be traded against BTC and ETH on Liquid. 

Are there any benefits for QASH holders?

QASH holders will be entitled to QASH rebates off the token purchase price.

How can I get the QASH rebate?

QASH holders on Liquid are entitled to rebates, to be paid in QASH, on any purchase of Gram tokens in the Gram Token Sale.

Your maximum rebate amount is the USD value of your QASH holdings at the end of the sale. The more you hold, the higher your rebate. 

You must have your QASH balance in your Liquid account before the end of the sale and maintain the balance for the duration of the holding period for your tier. 

If your QASH balance decreases, your maximum rebate amount will be reduced accordingly. 

Rebates will be paid out in QASH after the holding period has expired and subject to final review

Are there any bounties?

You can earn Gram tokens by inviting your friends to sign up for an account and purchase Gram on Liquid. You can invite by sharing your invite link from your referral dashboard. 

Your friend will need to:

  1. Click on the invite link from your referral dashboard.
  2. Sign up for an account on Liquid.
  3. Submit and verify their government ID, a selfie and proof of address.
  4. Buy at least USD100 worth of Gram tokens on Liquid.

For every successful referral, you will receive an equivalent of USD10 in GRAM tokens.

For more information, please read the Terms and Conditions in our Help Center.

When will tokens be delivered?

Gram tokens purchased in the Gram Token Sale on Liquid will be delivered to buyers after the launch of the Telegram Open Network (TON) based on the following schedule: 25% of allocations to be delivered 3, 6, 12 and 18 months after TON mainnet launch, which is expected October 31, 2019.

Why is there a delivery period?

A portion of Gram tokens sold before the launch of the Telegram Open Network (TON) are subject to a delivery schedule implemented by Telegram of 3 month, 6 months, 12 months and 18 months after TON launch. Tokens will be released on the aforementioned dates in batches of 25%.  

Where will buyer funds from the sale be kept?

Grams will be reflected in your Liquid wallet as soon as you pre-order in the Gram sale. All buyer funds from the sale will be converted to USDC and kept in a segregated wallet under escrow until the Gram tokens are delivered. Grams will be minted and delivered to your Liquid Gram wallet as per the delivery schedule following the TON mainnet launch planned for October 2019. 

Will Liquid list Gram for trading in the future?

Yes. More details to come. 

What will happen in the event of cancellation of the token sale?

If the Gram Token Sale is cancelled for any unforeseen reasons or if the seller Gram Asia is unable for any reason to fulfill its obligation to deliver Gram tokens to buyers, any contributions that have been made up to that point will be refunded in full in USDC from the segregated wallet where buyer funds are stored in escrow. 

Who is Gram Asia?

We are working with Gram Asia for the purposes of this sale. Gram Asia is the largest holder of Gram tokens from Asia, and a trusted partner of Liquid, with a long-standing relationship forged through strong business ties. Gram Asia supports the TON ecosystem by deploying its considerable capital and vast network of strategic partners to provide operations in the form of an Incubator, Node, Liquidity and Payment. To foster widespread integration with the TON ecosystem, Gram Asia works with licensed financial institutions to provide safe, secure and stable payment gateways for merchants in Asia. For more information, click here

Are Gram tokens tradeable before the launch of TON?

The tokens being sold will not be released until after TON goes live (mainnet release), in accordance with the delivery schedule. Purchasers will not be able to transfer, withdraw, or trade the Grams before they are released.  

How do I open a Liquid account?

Head to the sign-up page to get started. Enter your personal details and set up 2FA. Without Account Verification, you will qualify for a Basic Account which gives you access to many of Liquid’s core features. To take part in the Gram Token Sale, you will need to verify your account. With that done, you’re all set for the token sale. 

What do I need to do to prepare for the sale?

Sign up for your account, set up 2FA and complete verification. Then you’ll need to fund your account with either USD or USDC to take part in the Gram Token Sale. USD can be deposited by bank transfer or traded against BTC, ETH and other cryptocurrencies. USDC can be deposited or traded against BTC or ETH. The easiest way to get USDC is by using our Quick Exchange feature. 

Where can I get help?

For any further questions, please don’t hesitate to visit our Help Center, contact our 24/7 support team or join our community on Telegram to get involved in discussions about the sale.  

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