Telegram Open Network (TON) launch news

Token sale’s update:
The Issuer has closed new purchaser’s subscriptions for the current financing round accepting 94 investors and reported to SEC (link). We note that closings of the subscriptions shall not equal to final disbursement, which might be partially pending.

GRAM Trading:
TON Issuer Inc. says it is actively working with crypto exchanges and exchangers from Japan, China, the UK etc. and is currently talking to a number of leading crypto exchanges and OTC brokers.
We believe the launch of the trading will be held in Asia, whereas Japan might be the first country to trade GRAMs. However, the exact timing is uncertain until the Testnet is launched.

Project update:
Telegram expect to have the 2nd technical update in January, which will be released here as soon as we receive it.
In terms of timings, TON team states that they are on track to full launch in the beginning of 2019. However, a slight delay for 2-3 months is possible due to innovative nature of the development.

Detailed look – Recent news:
TON’s team is considering legal opinions of utility tokens in 10+ jurisdictions, which means the team is preparing the system for global expansion;
TON is expected to work as pure decentralized system, including the absence of the formal requirement of know-your- client procedures for its users: Telegram as one of the end-users will use cell phone number as an identification tool, and other service providers on the system (including wallets, e-commerce providers etc.) may use other means of identification, including Telegram Passport. TON will have certain mandatory disclosure requirements for large holders only. All this will help TON to increase its network effect and enlarge the client funnel;
TON Reserve might be used to support eco-system, not the maintenance of the price of GRAM, which puts the risk to the token price, however, leaving the available liquidity only to the participants of the token sale. The above is subject to legal structuring.
Team is actively looking for sector co-operation with e-commerce, internet, retail companies. We believe Telegram will develop an analogue to App Store for its online services through the messenger.

Overall development progress of TON – ~90%
The most recent launch schedule looks like:
1) TON team will release the 2nd batch of news and updates about the system – February 2019 (delay from November 2018);
2) TON Blockchain’s “Testnet” will be opened in January 2019;
3) TON Blockchain’s “Testnet” will be opened for a stealth testing to community developer’s audit of the code, bug detection and consideration of external proposals in February 2019;
4) TON Blockchain’s “Mainnet” will be opened for public in March 2019.

Special Update – a research report by HASH Crypto Investment Bank

We found two research reports on TON provided by HASH Crypto Investment Bank, including the recent Fall’s Narrative explaining recent market dynamics.

The report initiates with a target price for end of 2019 as $5.90 per token

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