This is a short summary to bring you up to date about last yea | Telegram News

This is a short summary to bring you up to date about last years developments. A detailed analysis will follow soon.

Telegram Open Network ICO

Telegram is planning to launch a blockchain platform and native cryptocurrency.

They put together an Initial Coin Offering (ICO) to fund development of a new blockchain platform, to be called the "Telegram Open Network" (TON). The offering was organised as a SAFT (Simple Agreement for Future Tokens), selling futures on tokens to be called GRAM.

In February 2018, during the first round of the ICO 2.25 billion tokens (45% of the total number of future Grams) were sold at a price about $0.5 per token. The minimum amount of investment to participate in this round was $20 million. Then the second round of token offering began.
During both placements 2.89 billion tokens were sold (58% of the total number of future Grams).

As of April 2018, Telegram had reported raising $1.7 billion through the ongoing ICO.

Only the pre-ICO rounds were conducted; the public ICO was cancelled because Telegram raised enough money in the pre-ICO rounds. The network has yet to be released.