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Telegram offers ICO investors a refund or the option to wait until April 2021

April 30, 2020

The encrypted messaging platform Telegram appears to have Accepted a decision by the U.S. court that the company could not distribute its gram tokens or start the Telegram Open Network (TON) until the dispute is resolved.

since The telegram did not meet its deadline for starting TON before April 30thA redemption clause in Telegram’s purchase contracts states that investors can now apply for redemptions.

However By proposing an immediate redemption of 72% of investor holdings, the platform also offers a redemption of 110% on April 30, 2021. Investors who accept the loan will be able to exchange their share for crypto assets in the future.

Telegram delays the start of TON again

Telegram offers ICO investors a refund or the option to wait until April 2021Telegram offers ICO investors a refund or the option to wait until April 2021

In a letter dated April 30, Telegram said it would not issue grams until April 30, “given the recent decision by the United States District Court.”

While the platform lives up to its promise to repay 72 cents on the dollar, Telegram has announced a secondary option for investors to “lend” their stake to the platform for 12 months for a 110 cents refund on the dollar Get April 30, 2021. The letter says:

“As a token of gratitude for your trust in TON, We also offer you an alternative option to get 110% of your original investment before April 30, 2021., that’s 53% more than the cancellation amount. “

“Detailed documents describing this option, including a loan agreement, will be made available shortly to those who are interested, “added the document.

Telegram declares that it will continue to mandate regulators for TON and its tokens, noting that investors may have the option to receive grams or another cryptocurrency if they are approved:

“Buyers who have opted for the loan also have the option of receiving grams or another cryptocurrency on the same terms as in their original purchase contracts.”

Investors were asked to submit their chosen redemption plan by the end of this week.

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