Telegram ICO Destined to Break Records with $850 Million Raised in Pre-Sale
[Photo: Telegram Logo. Source: telegram.org]
Telegram is a popular messaging app with over 100 Million downloads on Google play store. You can download Telegram on your phone (Android and iPhone), your tablets and personal computers (Windows, Linux and iOS). With these 100 Million downloads, comes over 2.8 Million reviews on the same Google play store with regards to the performance of the app, to earn it a generous 4.3 star rating.
This is an impressive number of reviews for an app and an impressive rating so to speak.
The app is very secure for it has 256 bit symmetric AES encryption, 2048-bit RSA encryption and Diffie-Hellman secure key exchange. The app also the capability of hosting super groups that can hold up-to 100,000 members. And you can share with them a bunch of of documents, giffs, audio and video files. All these activites can be viewed on all devices the user has logged on. All conversions have the option of being saved on the Telegram servers. This reduces the constant issues of running up the phone’s memory with chat histories.
To add to the above, and the most advantagious thing about Telegram, is the ability to create programs inside the app known as bots. These bots can do a variety of things including being a group moderator, giving you real time prices for the various cryptocurrencies and can even be utilized by your utility companies as a means of checking bills.
It is these capabilities that make Telegram the choice of so many cryptocurrency traders when they want to chat about their favorite coins and ICOs. All ICO websites usually have a Telegram link to their group or news channel.
It is with the last capability that you can create a broadcast channel on Telegram where you can invite subscribers to get notified whenever you share a message, video, audio file or even a link to an article. The channel only allows administrators to post on it.
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Therefore, it is with the above information that we can conclude that a $850 Million Pre-Sale of the Telegram ICO, will break a few records if not all. The total ICO price tag will surely be talked about by generations to come.
The first record borken is the amount raised in the Pre-Sale: $850 Million. Such an amount can make you say expletive words when you compare it to the highest ranking ICO in terms of money raised for the entire ICO.
Filecoin, a decentralized cloud storage platform, tops the current list of highest grossing ICOs with $257 Million raised for the entire ICO sale. This is 30% of the amount raised by the Telegram Pre-Sale. Another ICO, Tezos, raised $232 Million. This is a 27.3% of the amount raised in the Telegram Pre-Sale.
It is therefore safe to assume that when the Telegram ICO goes live and public, we can expect a total amount way over $1 Billion. This amount of $1 Billion, is the annual GDP of a country somewhere. Can you imagine that? This would be the second record broken for the highest total amount raised in an ICO. Some are even predicting a $2 Billion figure for the total raised.
So what are the details about the ICO?
I am yet to peruse through the whitepaper. This might be because I am still shocked about the $850 Million. As soon as I read all 23 pages of the document, I will update with another article. But here is what I can tell.
- The blockchain being used will be known as the Telegram Open Network or simply TON and will be integrated with the Telegram app
- The Pre-Sale involved 81 Selected investors that raised the staggering $850 Million
- There will be a requirement for KYC (Know Your Customer) for the public sale
- The coins will be known as TON Coins or GRAMS
- Total supply of TON coins (GRAMS) will be 5 Billion
- 44% of this supply will be sold publicly. That is 2.2 Billion GRAMS
- Starting price for the first coin will be $0.1
- There is a complex compounding formula to price the next Token value to be 1 Billionth higher than the previous one
At the moment, I cannot verify where the token sale is being held on the web. What I can gather is that it will be carried out in Q1 of this year. This means before the end of April.
We shall keep our ears to the ground and let you know as soon as it is live.
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John P. Njui Author
Crypto Enthusiast. Terrible dancer. Former DJ. Amateur Marathoner. Electrical Engineer. Kool kat.