Dear CROSS exchange users,
Thank you for your continued support. We have big news.
＜We will sell the Telegram Token!＞
Successful in conducting the world’s largest ICO: We will conduct an IEO on CROSS exchange for Telegram's "GRAM token".
・What is Telegram?
Telegram is a messaging service with around 200 million users globally providing excellent SNS services that protects privacy by encrypting messages since in 2013.
Telegram held private sales in February and March of 2018, as they became a global topic in becoming the largest ICO funded ever by collecting $1.7 billion.
With this funding, Telegram has its own blockchain platform and is developing the "Telegram Open Network (TON)".
<Gram Token's first general sale!>
・The first general sale
The original private sales were held for "limited specific investors only", so it was not available for purchase to the general public.
・Distribution of tokens will be "post October"
Distribution of GRAM tokens is scheduled for October 2019. However, users of CROSS exchange will immediately receive tokens equivalent to GRAM.
・Development of a CROSS exchange original token
According to Telegram, GRAM tokens will not be distributed until their own platform "TON" is officially released.
Therefore, in consideration of our user convenience, CROSS exchange will distribute an equivalent and original dedicated GRAM token that can be exchanged with the official GRAM token for users who purchase the GRAM token in this IEO.
The original token will be reflected in user wallets on CROSS exchange for those who purchase the GRAM token from the LaunchPad. This will have the exact same value as the GRAM token.
Once Telegram’s "TON" is released, you can exchange equivalently for GRAM tokens at any time.
From this setup, our excellent development team has enabled users to participate in the sale of GRAM tokens with confidence.
【Participation conditions for purchasing GRAM tokens】
The conditions for users who can purchase GRAM tokens on CROSS exchange are as follows:
・ Amount of XEX held: 10,000 XEX（with a lock-up）
※ Lock Period: 90, 60, or 30 days all eligilble
※ The entry conditions of the 10,000 XEX (with a lockup) cannot be used to purchase IEO.
※ The XEX price will be determined based on the USDT and XEX market rate at 7/20 3:00 (UTC).
【Minimum Purchase Quantity】
・Users with 10,000 XEX or more locked up can join in the IEO.
277,777.77 GRAM (~1,000,000 USD worth）
We will set up a special frame for VIP Members
※ VIP members are users who have more than 200,000 locked XEX on CROSS exchange.
1 GRAM = 3.2 ~ 3.7 USDT (depends on purchase conditions)
※By participating in the CROSS exchange IEO, you wil be able to purchase GRAM tokens at discounted rate.
【Maximum Purchase Quantity】
None (partially limited)
※ If the total number of sales is exceeded, it will be proportionally allocated according to the applied purchase requests.
(Example of a proportional distribution)
・Say for example the Phase 1 remaining sales limit of GRAM is 138,888.88 GRAM, but there is purchase demand of 277,777.76 GRAM among all purchasing users (which exceeds the available sales quantity)
・User A has applied for a 1,000 GRAM purchase.
・The amount of GRAM actually purchased by user A is calculated as follows:
1000 x (138,888.88 ÷277,777.76) = 500 GRAM
① User A’s purchase amount = 500 GRAM
② Of the applied for purchase quantity of 1,000 GRAM, 500 GRAM worth of XEX will be exchanged for GRAM tokens, and the remaining XEX will be returned to your wallet.
7/20 〜 around 2 weeks
※Details will be announced later.
【Where will the Sale take place?】
CROSS exchange Launchpad (IEO Platform)
We eagerly look forward to your participation!
CROSS exchange Team