The initial launch of the TON platform has already been missed, the company has no commercial model, but there are many shortcomings, according to analyst Larry Chermak
The Telegram Open Network project has serious problems approves Larry Chermak, The Block analyst. He advised to think twice before buying Gram tokens and explained, and what the main disadvantages of the blockchain platform are.
According to the expert, the Telegram messenger does not have any commercial model, initially it was funded solely with the money of the founder Pavel Durov. The analyst was also embarrassed by the fact that information about the possible launch of the TON blockchain appeared in the second half of 2017, at this moment the market was at its peak, and investors were actively investing in ICO projects.
The launch of the platform was to be held in 2018, but this did not happen. Chermak claims that investors in the project were not guaranteed to be able to fully pay them off if the system did not start up until October 2019, since $ 400 million were spent directly on development.
“Of course, the launch of the network is planned until October 31. Literally the last day that Telegram did not have to return the money. Coincidence? "- said the analyst.
He stressed that giving the company $ 1.7 billion in exchange for future tokens is “a very bad idea.” Chermak is sure that most investors no longer expect to earn on this project.
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