TON To Be Launched By October, Otherwise, The Contracts Will Be Cancelled

Pavel Durov’s team unwillingly comments on the project. Nevertheless, some projects sometimes turn out to be revealed in the media outlets.

A document, according to which agreements on purchase of Telegram Open Network (TON) platform’s tokens will be cancelled if the Telegram team doesn’t launch it by October, 31st, 2019, was published on the network yesterday.
According to the document, the company is going to create and launch a new digital currency called Gram after development and launch of a new blockchain platform TON. Earlier, the team raised $1.6 billion during the two rounds of the pre-sale due to sale of contracts for acquisition of future Gram tokens at a price lowered for early investors. для The agreement provides legal details related to Gram acquisition and the laws of various jurisdictions regarding token distribution. In particular, it’s said that if the network isn’t launched before October, 31st, the agreement will be null and void and investors will get their money back.

It’s hard to say to what extent this information is true. The document isn’t dated and isn’t signed.

Earlier, the sources familiar with the matter reported that TON platform could be launched in the test mode in March, 2019.

According to Russian information agency The Bell, investors we told that TON was 90% ready, but delays were possible because of “innovative nature of development”. Meanwhile, the investors, among which there are a lot of major institutional who invested millions in the platform start losing patience.