Yesterday, CoinBene announced on its official Twitter handle about the launch of Telegram Open Network (GRAM) IGO. There are several questions that surround this launch. Here we will have a comprehensive look at the various details of the upcoming launch.
What is Telegram Open Network (GRAM)?
The Co-founder of Telegram– Dr. Nikolai Durov is the man behind the Telegram Open Network (GRAM). The main purpose behind it is to offer a new way to offer security around processing speed and scalability in the blockchain sphere. According to Durov, Telegram Open Network (GRAM) will be the power that will lead crypto technology and the blockchain technology and will enhance the communication to the highest levels.
- When will the launch take place?
The Telegram Open Network (GRAM) IGO will be launched on 29th of this month at 12:00 PM (GMT+8.)
- What token will be offered through the Telegram Open Network (GRAM) IGO?
GRAM is the token that will be offered in the Telegram Open Network (GRAM) IGO.
- What are the total token supply and the total IGO volume?
In the announcement, the company has revealed that the total token supply will be 5 Billion. And the total IGO volume will be 500K USDT or 625,000 GRAM.
- What is the price of 1 GRAM token?
The price of 1 GRAM token is 0.8 USDT.
- What is the duration of the Telegram Open Network (GRAM) IGO?
The Telegram Open Network (GRAM) IGO will start at 12:00 PM (GMT+8) on July 29, 2019, and will end at 16:00 PM (GMT+8) on the same day.
- With what currency can the participants purchase the GRAM token?
By far, participants are allowed to use only USDT to buy GRAM token.
- Is there any limit to how many tokens one can buy?
The minimum number of tokens that one can purchase is 12.5 (10 USDT). The maximum number, on the other hand, is 8000 GRAM(10000 USDT). To encourage fair treatment towards the participants, the company has announced that it will treat all the orders equally within the purchase time. ‘Purchase ratio’ will decide the number of tokens that every participant will receive. There are some methods mentioned in the activity details if the user wants to know about the purchase ratio.
- Is there an eligibility criterion to participate in the Telegram Open Network (GRAM) IGO?
Those who are interested in participating in the Telegram Open Network (GRAM) IGO, are requested to register themselves at CoinBene. Also, they will have to complete the ‘Know Your Customer’ (KYC) process too, to become eligible.
- What is GRAM Trading Time?
Once the GRAM distribution gets completed, the platform will open the trading in three working days. (The commencement of those three days will be announced after the completion of the distribution, so have a close watch for it.)
Also, the company has announced that the presale will take place on PC only.
Activity details of Telegram Open Network (GRAM) IGO-
The orders that will be made during the mentioned time frame will be treated equally. Post the deadline, and the company will collect the eligible orders. After this, the tokens will be distributed as per the ratio mentioned here-
1. Purchase Ratio = Total supply ÷ Total purchased orders, and
2. An actual individual purchased GRAM =Purchase Ratio× Qualified individual GRAM orders.
Once the process gets completed based on the above ratios, USDT will get deducted. The number of USDT deduced will depend on the number of GRAM that is obtained by the individual users. The above calculations are targeted to be finished in a period of 24 hours.
What is the process that one needs to follow?
The company has given certain steps to be followed by each user. They are-
- The first step is registration.
- The second step involves the completion of ‘Know Your Customer (KYC).’
- The audit of the real name will be done manually. Therefore, it is requested that the users submit the real name information at least eight hours before the activity time starts, to have a smooth audit and to support the company’s staff to complete the verification duly.
- The users should make sure that the right amount of USDT should be in their accounts before the activity starts to avoid any errors in purchasing of the GRAM
- The buying orders can be placed from 2019/07/29 12:00 PM (GMT+8) to 2019/07/29 16:00 PM(GMT+8).
- Every order will be treated equally. Each account can place a min. 10 USDT and max. 10K USDT purchase orders.