Iconomi (ICN)

Mkt. Cap.
$ 16.437 M
Vol. 24h
$ 0
Open 24h
$ 0,16
Low/High 24h
$ 0,16 - $ 0,17
Since
25/08/2016
Circulating Supply
100 000 000
Total Supply
100 000 000

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Iconomi (ICN) Decentralized Platform. Cryptocurrency Review

Iconomi is a blockchain-based decentralized platform with an internal token ICN. The main difference between Iconomi and other companies of that kind is that it encourages users to create digital asset array (DAA) on their own. Also, users can invest in these and other Iconomi’s DAA products without any restrictions.

This service was created by Jani Valjavec (a founding member of Columbus Capital Ltd.) and Tim Zagar (CEO at the Bitcoin payment gateway Cashila in Prague).

The main idea behind an open access to the funds is that it may fill the gap between the old and new economic models. The opportunity to benefit from the investment practices were reserved by big investors before, however, the new economy strives to make it generally accessible.

How Does It Work?

Iconomi has the same work principles as any other fund company. The key difference is a focus on the blockchain-based assets.

The platform has a plenty of investment options to offer. They are different in terms of risks and revenue opportunities and can be purchased and sold with no limits like long withdrawals or lock-outs. Also, as Iconomi offers the instruments for the asset creation, the number of offers is expected to grow.

To make a DAA investment, a user has to register an account and make a deposit in cryptocurrency (BTC or ETH) or fiat money (EUR) and choose the asset he would like to support. The platform uses Ethereum’s smart contracts to maintain operations and keep the transactions safe.

The fees range from 1% to 6%.

The ICN token

The ICN token is an official Iconomi’s currency, which is used to represent shares on the platform. The initial idea was to use ICN to issue dividends, but the company refused to do so because of the problems connected with security laws.

Currently, the ICN token doesn’t have too much utility. But the company owners reassure that ICN will be actively used for DAA creation and for other operations on the platform including changing fees, rebalancing, and raising the fund limits. ICN is already used in most of these actions in beta-version.

In March 2018, ICN was in the top 100 coins by the market cap ($240 million). Since that time, the price has decreased and ICN’s market cap became $94 million in June, 2018. Today, ICN has a market cup of $43 million.

The ICN token is based on the ERC-20 algorithm, therefore all wallets that support ERC-20 can be used to store it.