The launch date of TON has been postponed to April 2021, and Gram investors can lend money to Telegram for interest

Telegram has delayed the launch of TON, a blockchain project, for the second time, delaying the new launch date until April 2021. Telegram will return 72% of investors' investment returns. But if investors choose to wait without a refund, they have a new option: they can lend money to Telegram and receive a 110% return on their original investment by April 30.

Telegram lost a preliminary case with the us securities and exchange commission, and a us judge ruled that it could not launch a blockchain or issue the upcoming Gram tokens until the case was resolved, according to pulse.

If previous Gram scrip investors had opted for a refund, they would have received only 73% of their original investment. Investors who choose to wait have a new option: they can lend their investment money to Telegram. In a letter to investors, TON said: "to thank you for your trust in TON, we are also offering an alternative to receive 110% of your original investment by April 30, 2021, which will yield 53% more than if you terminate now (pending the release and distribution of tokens by the TON main network). "

Telegram will repay the debt with equity if regulators continue to block TON's offering. The company is now wholly owned by Pavel Durov, its founder and chief executive. Take Telegram's recent growth, with 400 million users a month. It believes that "the value of Telegram's equity will be at least several times greater than the sum of its potential liabilities".

According to pulse, the fund managers said many investors, particularly silicon valley venture funds, would prefer to convert their token allocations into Telegram shares. For some venture firms, the tokens are essentially proxies for Telegram's stake, which Telegram had previously been reluctant to sell. They said a sale was not an option for Mr Durov, the Telegram founder.

The original address: https://www.coindesk.com/telegram-caves-to-us-regulators-delays-blockchain-launch-offers-to-return-1-2b-to-investors 

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