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Telegram’s cryptocurrency token TON to be launched in March

Telegram cryptocurrency token TON to be launched in March

Pavel Durov, the founder of messaging app Telegram, is preparing to launch a new Telegram token TON, which a year ago attracted $ 1.7 billion from investors.

A meeting with major investors should take place within a month, according to The Bell, which claims to be familiar with the launching plan of Telegram’s founder. The same source says that the main network Mainnet promise to launch in March.

Pavel Durov’s team announced to investors that the TON project should be ready for a launch at the beginning of the year, but there may be delays of 2-3 months due to the “innovative nature of the development”.

A meeting with main investors of the TON token project should take place within a month, at which the Telegram team will present how the TON blockchain platform and the first examples of its work in Telegram work, a source familiar with the plans of the founders told The Bell. According to an interlocutor communicating with the developers of the new blockchain project, confirmed that Durov will show investors a test version of TON in the near future.

In addition, The Bell studied the latest newsletter, which was sent to investors of the new platform (the document was provided in early January via @Tgram). The document reveals more details about the TON cryptocurrency.

  • According to the source, the team working behind TON’s project is ready for a full launch in early 2019, although a slight delay of 2-3 months is possible due to the “innovative nature of the development”.
  • TON is ready by about 90%, and the latest news about the project should be announced in February 2019. An earlier newsletter, sent in September 2018, said that the platform is 70% ready and the test version of TON will be launched “later this fall” (but the date has been postponed) .
  • The Testnet test network will be open in January (according to the @Tgram information, received from one of the investors, Testnet is already functional).
  • An audit of the Testnet is scheduled for February, to fix errors and find any potential flaws.
  • The working version of the platform (Mainnet) will be opened and presented to the public in March 2019, according to the newsletter.
  •  Pavel Durov and Ilya Perekopsky, who is responsible for the development of Telegram business, did not respond to The Bell’s requests for comment.
  • On January 17, Durov sent out a message stating that “2018 was a great year for Telegram, but 2019 will be the most important year in the history of our company.” He promised to “implement a lot of long-awaited changes to the product”, which Telegram’s users requested, and finally stressed that “the 2019th will be the time when the wishes of our users regarding the (Telegram) functions will be fulfilled”.

Accroding to The Bell, the TON team is currently studying legal options in more than 10 jurisdictions, that may disrupt  the launch and worldwide expansion. Telegram, the company best know for its cryptographic messages, is actively working with crypto exchanges in Japan, China and the UK. TON token is most  likely to be launched in Asia , and Japan may be the first country where the Telegram’s cryptocurrency will enter the market.

The launch dates of the new Telegram’s blockchain platform have been postponed more than once. Initially, the launch of the test network of TON was planned for the second quarter of 2018. By the end of 2018, it was supposed.

During the ICO campaign of Telegram token, project received  $ 1.7 billion. In total, over 100 high-profile investors rushed to invest in a record-breaker crypto project. Among them, the media called Yuri Milner and Roman Abramovich, as well as the largest Silicon Valley funds Kleiner Perkins Caufield & Byers, Benchmark and Sequoia Capital, which, according to FT, were going to invest in the project for $ 20 million. The clock is ticking because if Telegram’s new token TON is not launched before October 31, 2019, money will have to be returned to investors .

About Mantas Malukas

Mantas is the founder of Dapp Life, crypto investor and an online entrepreneur who has professionally immersed in digital publishing and development for over a decade.

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