Japanese Crypto Exchange Discloses Its $4.1M Gram Token Escrow Wallet

Japanese cryptocurrency exchange Liquid has revealed the digital wallet address holding the proceeds from the Gram token sale it conducted in July.

In an Aug. 30 announcement, Liquid disclosed the public blockchain wallet address that now keeps all participating customer funds from Gram token sale. Liquid further stated that the funds will remain in cold storage until the release and delivery of the assets by Gram Asia.

Gram is the yet-to-be-released native token for the Telegram Open Network (TON).

According to statistics and analytics platform Etherscan, the wallet has $4,118,853.70 worth of USD Coins (USDC). Additional tokens allocated for the sale, per Liquid’s announcement, have been distributed between other partner exchanges who accepted undisclosed amounts of Gram tokens.

Selling at three times the ICO price

As previously reported, Gram Asia began selling rights to its Gram holdings at $4.00 per token through Liquid on July 10, which is triple the original $1.33 sale price at Gram’s second initial coin offering (ICO) round in March 2018. Back then, Telegram raised $850 million, bringing its total valuation up to $1.7 billion.

The TON blockchain will allow developers to port their Ethereum smart contracts as software startup TON Labs is building a programming language to develop smart contracts on the Ethereum network. TON Labs CEO and managing partner Alexander Filatov said:

“That was probably the most difficult thing we built. It will allow the advanced Ethereum community to pull everything they wrote for Ethereum into TON.”

In late August, Telegram reportedly confirmed that it would issue the first tokens in October.