On October 11, the Utorg cryptocurrency exchange launches IOU for the acclaimed and ardently awaited TON project. Utorg users will have a unique opportunity to buy GRAM tokens before anyone else, even before the official launch of the platform. Normally, this means the opportunity to get an asset at a more attractive price.
TON is the most anticipated project of this year. The new platform should solve the problem of censorship and Internet restrictions at the state level in any country in the world through its own anonymizer and proxy. At the same time, TON will have its own secure Telegram messenger, a payment service with internal GRAM cryptocurrency. As well as its own operating system for dApps, which will open up great opportunities for the future development of the platform.
The tokens of the platform, called GRAM, will be sent out to investors in the project who have invested money in the development of the platform at an early stage. Same as to those who will take part in the Utorg IOU.
Where did Utorg's GRAM tokens come from? One of the exchange’s partners, a large private investment fund that gained access to the purchase of tokens at the ICO stage, granted its rights to a package of 500 thousand tokens for sale within the IOU.
IOU, as the name suggests, is a type of debt to investors. The rights of claim to the GRAM tokens that were transferred to us, we transferred to the exchange and divided into separate IOU tokens, which anyone can buy at the auction on this Friday, October 11. The starting price of tokens is $2 per coin. The first 20,000 tokens will be sold at this price, regardless of the demand.
Tokens will be credited to the balance of the acquirer immediately after the purchase, but they will be available for withdrawal when the TON network starts. Such a format of token sale does not contradict the rules of TON. In the SAFT of TON there is no prohibition on the transfer of rights to the future receipt of tokens. Therefore, we sell IOU for the tokens, not the tokens themselves.
TON IOU is the second sale on IOU Desk Utorg. The first was the Perlin project. All participants received PERL coins to their accounts two hours before the start of IEO on Binance. And the bid price at Binance then exceeded the IOU price by 1.5 times. Many IOU members managed to sell their tokens at a higher price on Binance and earned money on speculative trading. With the TON project, the stakes are much higher: the expectations for GRAM among traders and investors are off the charts.
A designated section on the IOU Desk for Gram tokens has already been opened on Utorg.