Telegram, the messaging giant which took the cue from Facebook to veer into the cryptocurrency and blockchain world, is finally ready to make its mark. According to a press release, the encrypted messaging application will work with cryptocurrency platform Liquid for the public sale of Telegram Open Network [TON].
The TON Blockchain is a decentralized network curated specifically for the GRAM token issue, which will be offered to retail investors via a public sale hosted on Liquid’s platform. The designated date for the sale of GRAM is July 10.
It should be noted however, that the July offering will be on a limited basis, and only in October will the full public sale be organized. Countries which presumably, may not be privy to the sale of GRAM are the United States, Japan and South Korea.
GRAM can only be purchased via the US dollar [USD] or the Circle and Coinbase stablecoin USD Coin [USDC], according to the press release. In order to participate in the sale, interested parties are required to have a “verified and funded” Liquid account.
Liquid, the cryptocurrency platform, will operate wallets that are compatible with TON, allowing GRAM transfers. The token will be delivered following the launch of the TON public mainnet, which is scheduled for October 31, 2019. The token sale’s proceeds will be in the hands of the exchange and will be refunded if the TON mainnet does not launch, added the press release.
Telegram is building up excitement within the blockchain and cryptocurrency sector through TON, which is hailed as an “inherently scalable decentralized multi-blockchain architecture,” and a “mass-market cryptocurrency project.”
Private beta testing for the blockchain began in April, with reports pointing to the network displaying “extremely high transaction speed.”
Mike Kayamori, CEO of Liquid, stated,
“The TON Blockchain infrastructure can help enhance Telegram’s current capabilities as a peer to peer network of value, with the launch of their cryptocurrency light wallets for Telegram’s highly engaged user base.”
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Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report
Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.
The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.
Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.
In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.
The report stated,
“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”
Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,
“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”
The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.
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