At the end of April, the Telegram Open Network (TON) blockchain platform was supposed to launch, but it did not happen.
Samuel White
The founder of Telegram was obliged to return money to investors. However, on April 30, Durov offered all investors a refund by selling Telegram's equity next year. Telegram offered investors to return 110% of the investments or Gram tokens. In this case, investors could get more benefits.
Nothing is specified In Durov's letter to investors about whether Telegram is going to continue working on the blockchain platform. Because of it, some investors think that the company will refuse to launch the TON.
Also, some investors say that since April 30, they’ve been receiving letters from Telegram almost every day, but they don't understand the plans of Durov’s team.
The letters said that the Telegram team tried to do everything possible, but they did not succeed. There was a plan to issue cryptocurrency in a year, but after consulting, the team rejected this option. Now, the team promises only to return the money, but with the right to terminate the loan agreement in three months.
Some investors believe that the Gram cryptocurrency will not be released in any case, and that Telegram will not continue to develop the blockchain platform. Investors also suppose a scenario in which Durov will sell 20-25% of Telegram shares to Arabian investors and will return money to everyone.
It should be reminded that the last letter states that investors may not receive 110% of investments, since Telegram reserves the right to repay a loan at 52.77% not earlier than in a year.
It was also known that Durov would return the money to American TON investors. They will not be able to conclude a new agreement on the recently proposed conditions because of a possible regulatory risk. Now, American investors should get their 72% back. Other investors can agree to a new deal and get 110% or Gram tokens in a year.
Samuel White
