As we are approaching our first bonus decrease I would like to make sure everyone understands cut off time for 15% bonus.

Cut off time for 15% bonus is in less than 2 hours - it will happen at exactly 08.00:00 UTC.
That is 10am in Europe, 4am EST, 1am PST, 4pm China time, 6pm Sydney time to name a few where most people live.

Bonus for all the crypto will be applied when your transaction is propagated to us before 8.00:00 UTC. That means if your transaction reach us at 7.59:59s you get 15% bonus. If your transaction arrives 1s later you do not get 15% bonus. It does not need to be in the block or have enough confirmations. It just needs to be relayed before cut off time.

For all the edge cases where transaction will propagate a second or few after 08.00:00 UTC we'll check block explorers (like Blockr) for the specific currency and if we can find any sign of transaction being relayed before 08.00:00 UTC we will still apply 15% bonus to you (could be that our nodes and your propagating node are too few hops away).

For crypto that means that you can get your deposit address before 08.00:00 UTC, but if transaction is not relayed before that bonus is not applied.


Bonus will also be applied to all the EUR and USD transactions. But because bank transactions are slow (international wire can take up to a week) you need to send proof of payment (screenshot or picture of payment confirmation if you are doing transaction physically) to support@iconomi.net
If email arrives before 08.00:00 UTC you get 15% bonus when a transaction with matching data reaches our bank account.


Thanks to all the investors and supporters of ICONOMI. We're getting better together.

Perhaps not the best wording, but you are right. MKR/REP/DGX also Xaurum since not long ago are the ones that can be in Ethereum contracts.

However, note that even Ethereum based assets that we'll hold won't be stored in a smart contract only. This won't be like a giant multisig with all the private keys online.

It will most likely be 4 out of 6 multisig. With each key stored in vaults at least 50km apart and one key stored on another continent and 3 vaults will have access only when 2 authorised person show up together. All that to prevent various scenarios where funds could be lost/stolen/whatever.

Whitepaper on storage of assets will be published by us and given to the community for discussion. We'll make it "open source" and set an industry best practice / standard. This is what is needed, as I didn't know that Bitfinex had all in a giant hot multisig wallet. And I don't know how Kraken or Poloniex is storing funds.

I can confirm the issue. Working on fix.

Edit: issue with deploy. Fixed now.

This is coming closer to end of ICO.

New blog post published!
https://medium.com/iconominet/iconomi-ico-minimum-initial-capital-reached-in-just-6-days-e39018618a1a


ICONOMI ICO minimum initial capital reached — in just 6 days!

As stated in the ICONOMI ICO announcement, ICONOMI aimed to reach at least 2000 BTC initial capital, which is going to be used for technical infrastructure development, the start of two funds, and development of the platform.

The ICONOMI ICO started great! During the first 24 hours of the ICO, ICONOMI raised almost a quarter of its minimum capital target. ICONOMI ICO reached minimum initial capital of 2000 BTC (approximately 1 million USD) in only 6 days. The work on the ICONOMI Open Fund
Management Platform and the disruption of the investment industry starts now.

More initial capital means faster development with more initial functionalities, and a greater entrance barrier to potential competitors. It also means greater attraction to the project and greater probability of investment multiplication for investors.

ICONOMI was founded based on the needs of investors who desire higher returns than they can get in the “old economy”, but do not have the knowledge or time to monitor all the developments in the crypto-world. In 2016 more than 250 mio USD was raised for projects in the distributed economy. Because of ICONOMI’s disruptive potential we expect to attract more investment — therefore there is no upper limit.

It's not the next lisk or waves or anything

This is 100% ICONOMI.

Just saw that. Thx for pointing this out! Fixing issue now.

Edit: should work now.

This is impossible to know. Just like it is impossible to know price of ETH in a year.

But we can do an assumption here. If we manage to make a profit of ~10m per year that would equal to ~200k per week. If we approximate ETH price at 10 USD that would be 20k ETH per week. Which would mean that 5000 ICN tokens will be needed to receive 1 ETH per week.

And for as long as we have funding from ICO all the profits will go as dividends to ICN token holders.

Please note. This is calculation only.

It's not that zero USD would be invested so far. Crypto is on a bullet train and banks moving with the speed of a horse carriage. Everyone, please note, that it can take up to 10 working days (usually 3/4) for money to be send from one country and received in another (SEPA is exception here). Unbelivable in 2016, but so true!

We do have payment confirmation from multiple users who sent USD to us (we apply bonus according to payment confirmation because of slow banks), but zero USD reached our bank account so far. We are all in crypto for a reason. This being just one of.

You can join one campaign only. No "doublespending" here

It indeed is great for the crypto world. With crypto you can invest in 2mins. With USD it takes almost a week for funds to reach us. Now which one is more powerful? It is great!

The reason that our counter is showing 0 USD invested so far is very simple.

Crypto is global and fast. Banks are slow.

Sending USD from anywhere can take up to a week. In some cases even more!

We know there are USD and more EUR deposits on the way (investors sent us proof of payments), but did not yet reached our bank account. For the exact same reason we'll be waiting for 10 days when ICO ends for all USD deposits to arrive - for those that send us proof of payments before ICO ends of course.

No crypto will be dumped.

We hope to get enough fiat and then spending it for operations. While plan for cryptos is most likely that we'll be actually "selling" them to the funds we'll be creating. It would be kind of like OTC buying and selling from ICO funds to CTFs and CMFs.

But definitely not dumping anything. It would make no sense in any way you look at it (us, supporters, market...).

Can you write me at support@iconomi.net and tell me your browser and OS you are using. We had some problems on day one with that, but should be fixed.

1) ICONOMI.INDEX will be CTF type of fund and ICONOMI.PERFROMANCE will be CMF type of fund. Both generates separately and ICONOMI will manage them each according to it's rules. ICONOMI.INDEX will be well defined as it is index by definition, while ICONOMI.PERFORMANCE will be actively managed by our team for the customers of those fund.

2) There is no upper limit for ICO. Market will set the price. We have few scenarios for our burn rate, which will depends on amount of raised funds. We'll for sure keep ourselves with a runway for at least 18 months. The extra fund generated through ICO will go into ICONOMI.INDEX. Important thing here for ICN token holders is that for as long as we'll have funds raised during ICO we'll be paying 100% of profits as dividends to ICN token holders.

3) There won't be any buy walls or sell walls or whatever. ICN token will have market cap defined by investors and we won't be manipulating market in any way. Additionally to that, we'll publish public addresses of team members and we'll all oblige not to move/sell anything for the period of at least 6 months.

Thank you so such! We're working hard to earn trust and be transparent as much as possible.

We will make some mistakes in the future for sure (who doesn't?). But I can promise you, we'll also fix them as soon as we can.

Soon after end of ICO we'll launch ICN tokens on top of Ethereum platform. At the same time tokens become freely transfarable and thus tradable.

This is from the whitepaper: https://www.iconomi.net/ICONOMI_Whitepaper.pdf

ICONOMI.PERFORMANCE will be out in Q4 2016.

First batch for investments will be open for ICO participants only (future ones too, unless it will be undersubscribed). And we'll be investing from until we can invest almost all of it, then open a new batch.

It was till Thursday, September 1st 08.00 UTC and it still is.

I just checked and information on OP and ICO website do match.

We'll be distributing 100% of profits we make from funds to ICN token holders for as long as we have funding from ICO.
That way it can't be like Waves, because reward for ICN token holders will be just bigger and thus coin will be worth more.