Telegram Postpones the Launch of TON Blockchain, Offers Two Options to Investors
Telegram TON Blockchain
The famous messaging app giant Telegram was going to launch its TON blockchain network today on April 30, 2020, but now it has delayed the launch till April 2021 because of the recent US district court decision. However, the company is offering two options to its investors either they can get a return of 72% or they can wait until April 30, 2021, to get 110% of the original investment.
Telegram will not issue Grams by April 30
In a recent letter, the company has informed its investors that it is going to delay the launch of the TON blockchain network for one year and says that it cannot issue grams till April 30, 2021, because of the recent decision given by the US district court. The company has postponed its TON blockchain network launch for the second time. At first, the launch of TON was shifted from Oct 2019 to April 2020 and now it has been delayed further for one year.
Two options for investors
Though the company is delaying its blockchain network it is also offering its investors two options. The company is offering investors to get a return of 72% of their original investment this year according to the agreement.
“Accordingly, under the terms of the Purchase Agreement, we owe you the Termination Amount. We are hereby honoring our plan communicated to you in October 2019 to repay 72% of your original investment.”
If investors do not want to walk away with this option then there is an alternative option as well for investors. They can wait for one more year and by April 30, 2021, they will be given 110% of their original investment.
As the letter reads:
“As a token of gratitude for your trust in TON, we are also offering you an alternative option to receive 110% of your original investment by April 30, 2021, which is 53% higher than the Termination Amount. Detailed documents describing this option, including a loan agreement, will be provided shortly to those who express interest.”
It is now up to investors which option they want to choose but they have to make their decision till Friday.
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