Telegram lead a very prosperous fund raising, as an ICO, for the GRAM token last year, getting $1.2 billion on the initial fund raising. Now around one year later, a London connected exchange called Xena is ready to release the entire derivative contract for GRAM on its own platform.
In a press communicate issued by the firm, Xena has recorded the derivative contract calling it XGRAM on its platform and it could be exchanged all around the world. The idea here is targeted at creating a certain amount of liquidity before GRAM token’s official launch, which is expected to happen by the end of March.
By the end of February, a small panel of selected traders has had access to the beta version of the contract derivative, now it is available for everyone as it was officially released.
Anton Kravchenko, CEO of Xena Exchange declared,
“This is a significant step for the entire crypto market, considering the importance of the GRAM token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on the rate changes but also to hedge the risks.”
How Does Perpetual Contracts Functions?
Perpetual contracts are pretty identical to future contracts, in which a party agrees for buying an item or service at an already fixed price, however in the perpetual contracts case there is no limit date. Consequently, they are a great way of protection against the unstable trade market price.
How The Gram Token Would Work?
GRAM token aims at working as the main combustible for the Telegram’s chat application on the Telegram Open Network (TON). The service use would be pretty identical to the Chinese WeChat in –app system, in which users can send value from the application, without interacting with real money.
The tendency of several in-app tokenizations, specifically on chat systems is more and more spread. Not only Telegram, but Facebook is also trying to set up its own stable coins created for the chat application WhatsApp. LINE is also a chat platform established in China trying to follow the trend.
Telegram is wishing to build their specific chat platform decentralized allowing transactions via GRAM tokens. With more than 200,000 active users those plans are pretty considerable and expectantly, it could make change on the decentralization tendency.
Editor of IMD News