ICOs Reserves to Decrease Significantly

Project that was included to the research spend around 2500 ETH per month, Golem and Tezos are record holders 
02 August 2019   643

The Block analyzed the development of 57 ICO projects, which attracted about 8.2 million ETH. They found that since the close of the token sales, 5.9 million ETH (72%) were either moved or spent.

So, on average, projects spend or move around 2500 ETH per month. The record holders among the studied projects were Golem and Tezos. The first transferred 138 thousand ETH to the address of the Golem Foundation, and the second distributed 60.7 thousand ETH to four addresses where they remain to this day.

Some other startups, apparently, are forced to cover part of the transaction costs from the reserves, although they have cash.

In the first quarter of this year, the ICO projects raised around $ 118 million - 58 times less than in the same period in 2018.

TON Launch to be Postponed to 30.04.2020

Investors, that are not happy with this fact, may receive 77% of their investments
17 October 2019   116

Telegram is ready to postpone the launch of the Telegram Open Network (TON) blockchain platform and suspend all operations with the Gram digital currency. At the same time, the company intends to challenge the lawsuit of the US Securities and Exchange Commission (SEC). The lawyers of Telegram notified the court of the Southern District of New York.

We had intended to launch the TON network in late October. However, the recent SEC lawsuit has made that timing unachievable. We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.

TON Team

At the same time, CoinDesk reports that the project investors received a letter with information about the proposed transfer of the TON launch from late October to April 30 next year.

At the same time, the company must approve the decision on the transfer with investors. Each of the groups of investors who bought Gram tokens during two rounds of ICO will have to approve it separately.

Investors of the second round are invited to fill out the appropriate form before October 23. If the majority refuses to sign, they will be returned “about 77%” of the investment. It is reported that investors of the first round received a separate letter.

In the event that the majority still approves the launch transfer, Telegram plans to send another $ 80 million for the development of TON.