The Telegram team has released a public notice regarding the Telegram Open Network (TON), emphasizing that the blockchain platform will be open, decentralized and not controlled by the company.
The Telegram blog says that there are a lot of rumors and speculation around the project that the company will not comment on. However, the project considers it important to clarify several aspects while its team is working to bring TON into “compliance with all laws and regulations.”
- Gram coins still do not exist, you can buy or sell it only after the launch of the TON network. The company warns about fake token sales.
- The network will be decentralized and publicly available. After its launch, Telegram will not be responsible for supporting the platform or create any applications for it.
- Telegram will not be able to control the blockchain and ecosystem after its launch.
- Buying tokens doesn’t purport that their holder owns part of the company and can count on generating income. “Grams don‘t give their holders any special rights, just like owning Euros doesn’t give you shares in the European Union” Thus, the company emphasized that Gram is not an investment product “Grams are intended to act as a medium of exchange between users in the TON ecosystem. Grams are NOT investment products and there should be NO expectation of future profit or gain from the purchase, sale or holding of Grams.”
- Cryptocurrency transactions are risky and connected with losses, including due to many external factors.
Among other things, “Telegram is under no obligation, and makes no promise or commitment, to ever establish a TON Foundation or similar entity in the future.”
At the time of the expected launch of the main network, the TON wallet will be available as a Standalone application without integration with Telegram Messenger.
“In this regard, the TON Wallet is expected to compete with any other wallet applications designed and offered by third parties,” Telegram added.
In the future, the company may introduce a TON wallet in Telegram Messenger, however, the depth of this integration will depend on the laws and government regulations.
In October, the U.S. Securities and Exchange Commission questioned the legality of the project and demanded a stop on the TON blockchain project, as well as a ban on the distribution of Gram tokens. The regulator considers the latter to be unregistered securities.
Telegram did not agree with the position of the regulator, stressing that they registered duly closed placement of tokens that are not securities. However, the company decided to postpone the launch of the blockchain project.
Recall that Telegram investors refused to demand a refund and agreed to postpone the launch of the platform by April.