After raising $1.7 billion from private investors in its initial coin offering (ICO) last year, Telegram’s GRAM Token is now getting a liquidity boost from Xena Exchange – a professional-level crypto-asset trading platform.

Xena has launched supposedly the first-ever cryptocurrency-settled derivative contract for the GRAM token, which will allow Telegram’s TON (Telegram Open Network) project investors to trade these derivative contracts before any GRAM tokens are issued.

Launching derivative contracts on the GRAM token provides those who missed the chance at its ICO an opportunity to earn dividends on potential rate hikes. Concurrently, GRAM holders are able to protect their investments from possible exchange-rate drops.

Xena’s CEO Anton Kravchenko commented, “This is a significant step for the entire crypto market, considering the importance of the GRAM token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on the rate changes but also to hedge the risks.”

According to a press release (Mar 14), Xena Exchange said XGRAM-listed perpetual contracts will now be publicly tradable. With the leverage of up to 100 times, the derivatives are aimed at improving the liquidity for GRAM ahead of the token’s release, possibly at the end of March.

Unconfirmed crypto reports have also been circulating that Telegram’s TON network could be ready later in October.