In mid-February, the founder of the Telegram messenger Pavel Durov told the US Securities and Exchange Commission (SEC)that raised $ 850 million from 81 investor on ICO.
Later it became known that Pavel was going to hold a second closed round and raise an amount similar to the first - $850 million.
But recently, Vedomosti sources reported that Telegram intends to raise $1,7 billion in the second round.
Potential investors received an application form for participation in the ICO, as well as an updated version of the White Paper describing the benefits of TON and Gram tokens.
The second round will be divided into two stages - A and B, the first began in the last days of February. At this stage, Pavel intends to attract another $ 850 million. Individuals must submit an application for at least $ 1 million, legal - for $ 10 million. The price of tokens at this stage will average $ 1,33.
Information about the cost of stage B tokens and other conditions is not yet available.
Interesting differences in the second round of the sale of tokens became known - the lack of a lock-up period on 18 months after the launch of the TON blockchain.
The lock-up period is a restriction for investors who bought tokens in the first round. Their Gram will be released every three months at 25% after TON is launched. Up to this point, they cannot perform operations with purchased tokens. For example, resell tokens or rights to them.
But the investors of the second round of ICO will be able to dispose of Gram immediately after the launch of TON, says the new version of White Paper.
But do not forget that the first round was held at the price of $ 0,38 for Gram, which is several times lower than now.
Telegram does not conduct an ICO in the usual sense, it is more like a closed placement of securities in ordinary currency. Investors buy the rights to the future cryptocurrency of the TON project.
The date of the public part for "ordinary" investors is also not announced. According to preliminary information, it is expected in March-April.