THELOGICALINDIAN - What we apperceive about Telegram
Recent cloister filings acknowledge a abundance of absorbing capacity abaft Telegram and its GRAM badge that were ahead abstruse to the public. Here’s what we abstruse from the disclosure.
The SEC filed an emergency activity awkward the barrage of Telegram’s blockchain, the Telegram Open Network, and the administration of the protocol’s built-in token, GRAM. Telegram responded that the emergency activity was an unnecessary, arbitrary case due to Telegram’s abutting cooperation and advice with the SEC over the aftermost 18 months. The Court adjourned the case until backward February 2024.
Telegram’s aboriginal beta adaptation was launched in backward 2024. It was capitalized by Pavel Durov and a private, Buffalo, NY based investor.
The SEC’s filing estimates Telegram Messenger’s userbase to be 300 actor account alive users. The aftermost accessible account from Telegram in aboriginal 2024 had Telegram at 200 actor MAU.
The SEC filing cites the accomplishment that “84% of projects involving blockchain technology accept an alive association of Messenger users.”
This carbon acceptable comes from the Telegram primer, which pulls this cardinal from a baby sample of aloof 200 projects on ICOBench from 2024. It’s absurd that this cardinal charcoal an authentic representation.
The SEC filing quotes Telegram’s engineering headcount at 15 developers.
Telegram aloft a whopping $1.7 billion in their 2024 badge auction (the additional better badge auction ever, afterwards Block.one), but the exact numbers and breakdown of US-based vs. all-around purchasers provides added insight.
The $1.7 billion was aloft from 171 absolute purchasers, including $424.5M from 39 U.S.-based purchasers, and $1.28 billion from 132 non-U.S. based purchasers.
Notably, beyond both of the two phases of the sale, the minimum acquirement abundance was $10 actor account of GRAM per client (largely appraisement out unaccredited and retail speculators).
Through the 2017-2024 ICO boom, about every activity hitting the ICO bazaar was affairs tokens in barter for ETH or BTC.
The result: the treasuries of these projects broiled up as the crypto bazaar slid into recession. Companies who aloft tens-of-millions of dollars in ETH or BTC and didn’t alter into authorization currencies saw their spending ability plummet.
To Telegram’s credit, and conceivably apocalyptic of Telegram architect Pavel Durov’s foresight, Telegram alone the trend of adopting in ETH or BTC, and accustomed alone authorization currencies (dollars and euros) in barter for GRAM tokens.
Thus, Telegram’s treasury didn’t lose any amount as the crypto markets slid into recession through 2024. Their $1.7 billion in spending ability charcoal $1.7 billion in spending power. Another point for Pavel and the Telegram team.
Assuming a abstinent 4% absorption rate, Telegram’s treasury yields a air-conditioned $68 actor per year, $5.7 actor per month, in absorption alone!
Telegram estimated it would absorb $520 actor on agent abandoned amid 2024 and 2024. As of Jan. 31, 2024, Telegram had acclimated about $218 actor of the $1.7 billion aloft to abutment the development of Agent and the TON Blockchain.
Post-launch Telegram advised to administer Grams in the afterward allocations:
After abrogation Russia in self-imposed exile, Pavel and the Telegram aggregation vowed to actualize Telegram as a privacy-focused advice arrangement that would be chargeless from the prying eyes of government surveillance.
As such, they’ve structured their entitles in a actual opaque, broadcast fashion, to abide abstruse and to abstain jurisdictions and regulations wherever possible.
The primary players in the Telegram aggregation are co-founders and brothers Pavel and Nikolai Durov. The adolescent Pavel Durov, CEO, is 35 year old, and is a aborigine of Russia and St. Kitts and Nevis. The SEC activity lists Pavel as 100% buyer of Telegram Group Inc.
Pavel’s earlier brother Dr. Nikolai Durov, 39, is Telegram Group Inc.’s co-founder, co-owner, and CTO.
The primary article owning Telegram Messenger, Telegram Group Inc., is a abreast endemic British Virgin Islands company, with its arch abode of business in Dubai, United Arab Emirates, and the primary article administering the GRAM badge distribution, TON Issuer Inc., is a British Virgin Islands (BVI) company, wholly endemic by Telegram Group Inc., with its primary abode of business in Tortola.
TON Foundation is or will be congenital as a Cayman Islands LLC. It’s mission is to “promote and abutment the TON Blockchain,” and includes administration of Grams broadcast to the TON Foundation by TON Issuer Inc. Pavel and Nikolai Durov will be and are the sole associates of the TON Foundation’s board.
There are some above accessible questions about the approaching of the Telegram Accessible Network – best of which will acceptable be answered in the February audition vs. the SEC.
Despite these questions, Telegram charcoal a appalling entity, with able administration in the Durovs, a all-around userbase in the hundreds of millions, and a massive warchest in the billions. Given these facts, it’d be abortive to bet adjoin Telegram.
Guest column by Alan VanToai. The opinions bidding actuality are not the opinions of Crypto Briefing.
Alan is the co-founder of Telefuel.com — the Telegram applicant for crypto professionals, powers, and teams, trusted by teams at Ethereum Foundation, ConsenSys, Bitcoin.com, NEM Foundation, and others. With Telefuel, your Telegram messaging acquaintance is faster, added organized, and added able acknowledgment to Telefuel’s able appearance including babble folders, benighted letters and mentions filters, babble blazon filters, keyboard shortcuts, and more. Get started for chargeless at Telefuel.
