As the leading lending platform Nexo expands the utility of Telegram’s forthcoming Gram token by giving Gram holders instant access to cash without selling their tokens.
The highly anticipated Gram token goes on sale to the public for the first time on July 10, 2019 in a token sale organized by crypto trading platform Liquid.
- Telegram raised $1.7 billion in 2018 via a Private Token Sale to build the Telegram Open Network (TON).
- Gram has the potential to become one of the largest cryptocurrencies by market cap.
- Nexo is expanding the utility of Gram tokens by introducing Gram as collateral for Nexo’s Instant Credit Lines and the Nexo Card.
- Liquid is giving the general public the first opportunity to buy Gram tokens.
The Telegram Private Token Sale
Founded in 2013 by the serial entrepreneur Pavel Durov, the very popular Telegram messaging app raised $1.7 billion to finance the building of the Telegram Open Network (TON) — 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 smart contracts and decentralized applications while also being extremely scalable. To participate in the private token sale, investors needed to commit at least $1 million.
The Gram token is the native utility token of TON — Gram will serve as the principal cryptocurrency for the in-app economy on Telegram and will also be available for external use. Until now, the only way to buy Gram tokens has been through private sale rounds, which were not open to the public. The Gram Token Sale on Liquid will be the first opportunity for the general public to buy Gram tokens.
It is anticipated that Gram may become one of the largest cryptocurrencies by market cap, as well as potentially the world’s most adopted cryptocurrency with the coming launch of TON to Telegram’s 200 million active users.
Nexo Expands Gram’s Utility
Nexo has recognized TON as one of the blockchain projects with the biggest potential, which may very well bring crypto to the masses by leveraging Telegram’s huge audience of millions of active users who are sending 70 billion messages every single day.
In a commitment to strengthening the TON ecosystem, Nexo is happy to announce its support for the Gram token as a collateral option for its signature Instant Crypto Credit Lines™ and its upcoming Credit Card.
“The Gram token is one of the most sought-after assets in the crypto space right now. We are pleased to see other fintech companies recognising the significance of the exceptional work Telegram is doing to bring about mass adoption of cryptocurrency. Crypto traders will benefit from being able to use Gram tokens as collateral on Nexo. Support from Nexo further adds to the utility of Gram, which is being made available to the public for the first time on Liquid on July 10,” said Liquid CEO Mike Kayamori.
Allowing Gram holders to borrow against their assets rather than selling them when they need access to instant cash adds an incredibly powerful utility feature to the already announced utilities of Gram. It eases selling pressure and makes HODLing Gram even easier for the long run. On top of that, Nexo’s instant credit lines are a powerful tool for creating tax-efficiency.
As the world’s most advanced provider of instant credit lines, Nexo’s instant credit lines offer significant advantages:
- Clients’ funds are secured by leading audited custodian BitGo with $100M insurance for custodial crypto assets
- Fully automated instant loans from as low as $500 up to $2,000,000
- Automated and guaranteed loan approval with no credit checks
- Interest from 5.9% per year (APR) only on what you use
- No installments, no minimum loan repayments
- Same/next day free local bank withdrawals
- $700M already processed for 200,000+ Nexo users
- No hidden fees, no FX commissions
- Available worldwide in 200+ jurisdictions
- 40+ fiat currencies (USD, EUR, JPY, etc.)
- Nexo’s instant credit lines are a powerful tool for creating tax-efficiency
- Nexo’s Mastercard will let Gram holders utilize Nexo’s Credit Line for instant ATM withdrawals and real-world purchases
The huge demand has prompted the Nexo team to initiate an “Earn Interest” product which allows investors from 200+ jurisdictions to earn up to 8% on their stablecoins — the highest rate offered in the industry.
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The Public Token Sale
On July 10, 2019, Gram Asia, the largest holder of Gram tokens from Asia, will make Gram tokens available for the first time to the general public via a token sale, which will be conducted on the Japanese-based regulated Liquid exchange.
Watch this discussion between the Liquid CEO, Mike Kayamori, and Gram Asia CEO, Dongbeom Kim, to learn more about the upcoming Gram Token Sale:
Nexo is the most advanced and trusted instant crypto lending provider on a global scale. It is the only blockchain company to provide its services in 40+ fiat currencies and more than 200 jurisdictions. Nexo gives digital asset holders the best of both worlds — instant access to cash and retaining ownership of their assets. All funds on the Nexo platform are secured by leading audited custodian BitGo and the insurance leader Lloyd’s of London with $100M insurance for custodial crypto assets.
Founded in 2014, we are a leading global fintech company that operates Liquid.com (“Liquid”), a global cryptocurrency platform that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, Liquid combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers.
Today, Liquid is the world’s largest crypto-fiat platform by transaction volume, regulated in Japan. Powered by the World book, which provides customers enhanced price matching and deeper liquidity for various fiat and cryptocurrency pairs, Liquid offers trading services for major cryptocurrencies such as Bitcoin and Ethereum against fiat currency pairs in Japanese yen, US, Singapore and Australian dollar, and Euro.