GENERAL
What is the difference between the ICONOMI ICO, ICONOMI INVESTMENT FUNDS and the ICONOMI OPEN FUND MANAGEMENT PLATFORM?
ICONOMI ICO ("Initial Coin Offering") is a crowdfunding campaign, in which capital is being raised for the establishment & development of ICONOMI and in part for the funding of the first two crypto investment funds managed by ICONOMI, the ICONOMI.INDEX and ICONOMI.PERFORMANCE funds. In addition to the establishment of its own funds, ICONOMI will launch the ICONOMI OPEN FUND MANAGEMENT PLATFORM as stage 2 of the ICONOMI project.
ICONOMI INVESTMENT FUNDS will be crypto investment funds developed and managed by the ICONOMI team of experts. Starting with one of each fundamental type, ICONOMI will offer the ICONOMI.INDEX and ICONOMI.PERFORMANCE investment funds (for details please see the Whitepaper on App Token Funds). After the ICONOMI OPEN FUND MANAGEMENT (OFM) PLATFORM has been developed, ICONOMI investment funds will be migrated to the OFM platform, where they will coexist with investment funds of other investment managers.
ICONOMI OPEN FUND MANAGEMENT (OFM) PLATFORM is the final stage of ICONOMI. The OFM platform will enable everyone to introduce and manage their own crypto investment funds and attract investors who share the same investing philosophy. While the OFM platform will be open to everyone, the integrity of the platform will be safeguarded by ICONOMI with a comprehensive system of checks & balances.
How can you guarantee profit and entice investors? Yes, we know 2016 was a good year and there have been good altcoins and good icos but how can you say that will continue every year?
We don't guarantee profit. OneCoin and other scams are the only ones guaranteeing profit - until it turns out there is no more left. The landscape we're in is evolving and going beyond simple value tokens. We think we’re on the brink of a major global economic shift, and we’re not the only one. Please see this post from Mr Fred Ehrsam, co-founder of Coinbase, for a comprehensive explanation.
Can you expand on the hardware device you mentioned in your blog post?
The ICONOMI hardware device will be a thumb-drive format device that plugs into a USB port of a printer or computer and enables the user to very easily generate truly random key pairs for all crypto assets supported by ICONOMI. The device will generate one key pair of a public and private key or a 2 out of 3 multi-signature wallet, depending on the user’s choice and token technical capability. The key pairs are generated as printable JPEG files, making it possible to create genuinely offline wallets (for example with a printer without an internet connection).
Can you expand on the ICONOMI debit card?
The ICONOMI debit card will be a Visa debit card, linked to your share of the ICONOMI investment funds. You will be able to use it on all Visa supported POS terminals and ATMs, enabling you to instantly reduce your share of ownership of the ICONOMI funds, 24/7. When a deduction is made with your ICONOMI debit card, a corresponding amount of your share of the ICONOMI fund(s) will be sold. As a gesture of appreciation, all ICO participants will have the option to receive an exclusive “ICONOMI Founders’ Club” debit card. The card will be a debit Visa card with an unique design, available free of charge to investors who invested above a certain threshold and with a small fee to cover the shipping costs to all other ICO participants.
How will the expenses transparency be ensured? Will salaries and other expenses be detailed?
The expenses of ICONOMI will be grouped into cohesive groups (for example: legal / marketing / front-end development) and published periodically.
ICONOMI TOKENS ("ICN")
What will be the revenue streams of ICN tokens/what gives the ICN value/If we buy Iconomi tokens what dividends are we then entitled to?
ICN tokens will receive weekly dividends in the form of ETH from all ICONOMI revenue streams. In stage 1 they will consist of management and/or performance fees from the funds managed by ICONOMI. While the performance fee is, as the name suggests, dependent on the actual performance of an individual fund, a management fee is paid to ICONOMI as long as there are assets in the fund, regardless of its performance. This is a key benefit of being an ICN token holder compared to investing directly into a certain investment fund.
Stage 2, where an open fund management platform (OFM) is launched, ICONOMI revenue streams will expand to include performance and/or management fees for all funds on the platform, including those not managed by the ICONOMI team.
ICN token holders will be able to vote on important ICONOMI decisions, such as who the service operator should be.
All ICN token holders will be invited to join the ICONOMI.PERFORMANCE investment fund.
A detailed article on this topic is being prepared by our finance experts and will be published shortly.
How will I access my ICN tokens?
ICNs will be issued with the deployment of a smart contract on the Ethereum network and transferred to an Ethereum address that users will be able to provide through the ICONOMI website interface (ico.iconomi.net). Users who fail to do so will be able to access their ICNs via the ICONOMI website itself.
What is the total number of ICONOMI tokens?
100 million tokens will be created in total, of which 85 million will be distributed to ICO participants.
When will I get my ICO tokens?
ICONOMI tokens will be issued 10 days after the ICO ends.
How many ICONOMI tokens will I get?
The exact number of tokens for each participant will be calculated 10 days after the ICO ends. 85 million tokens will be divided among ICO participants depending on the total amount of assets raised.
How will the remaining 15 % of ICONOMI tokens be distributed?
The following schedule will be used:
8 % team
3 % future team
2 % advisors
2 % early adopters & bounties.
How will the value of different types of funds be determined for ICN issuance calculation?
As is the practice, the exchange rates valid when the ICO ends will be used. However, to offset the risk of sudden drastic price fluctuations, a special algorithm will be designed and introduced in an upcoming article. An average exchange rate of multiple exchanges is expected to be used.
How will the value of different types of asset be determined for ICN issuance calculation?
Please take a look at our blog post.
If I own 0.01% of the total ICN tokens, will I also own 0.01% of the excess assets over 10,000 BTC?
You will own 0.01% of ICONOMI, which will have assets invested into the ICONOMI.PERFORMANCE fund.
Are you launching your own blockchain?
No. ICN will be an Ethereum-based token.
Will ICN be tradable / Which exchanges will list the ICONOMI token?
Yes, expect ICN to be listed on several major exchanges.
What if the Ethereum blockchain fails?
As low as the probability of that happening is, there are other great platforms out there - for example Lisk, which is why we are accepting it natively.
Could something like the Dao happen with this?
No. The DAO had a bug in the code with lots of ETH inside and that's what brought it down. ICONOMI cryptocurrencies are kept in multiple cold storage addresses and there is no way to directly interact with them via a smart contract.
ICONOMI INVESTMENT FUNDS
When will you launch the first investment fund?
The funding for the first investment fund will open in Q4 2016.
What types of investment funds will there be and how will they work?
For details regarding the investment funds please see the Whitepaper on App Token Funds. Additionally, we will prepare an individual prospectus for each of the investment funds well before the funding will begin.
We are introducing two different types of funds: the Coin Traded Fund (CTF) and the Coin Managed Fund (CMF). Every fund operated by ICONOMI will be of the CTF or CMF type.
CTFs will be managed automatically based on predetermined rules and will be inherently transparent. Their behaviour will respond to market developments, making the individual coin percentages in the funds dependent on preordained rules and changes on the market. Our analytical services will constantly monitor several market parameters, continuously analyse available market data, build detailed market forecasts and adapt investment funds as needed, within preset limits. The first CTF fund by ICONOMI will be the ICONOMI.INDEX fund.
CMFs will be actively managed by a team of experts - financial analysts, mathematicians and cryptocurrency community professionals. Veterans of their respective fields, with decades of experience and successful projects behind them, they will help hone the ICONOMI spear for attack on the markets, making the ICONOMI CMF funds one of the most profitable financial instruments. With possibility of return on investment multiplication, CMF funds will represent our highest risk investment opportunities. The first CMF fund by ICONOMI will be the ICONOMI.PERFORMANCE fund.
Where does the profit from underlying fund asset appreciation go?
Fund asset appreciation will have fees applied, which go to ICN token holders as dividends.
Are the investment funds going to be open for everyone to participate?
The ICONOMI.INDEX fund will be open to everyone, while the ICONOMI.PERFORMANCE fund will be by invitation only. However, ICONOMI ICO participants will be invited to the ICONOMI.PERFORMANCE fund.
Why won’t the ICONOMI.PERFORMANCE fund be open for everyone?
Because the ICONOMI.PERFORMANCE fund will include exclusively ICOs, there is a possibility of oversubscription.
Do you plan to sell ICONOMI.INDEX on external exchanges not only on crypto-related exchanges?
Yes. However, this might not be possible immediately after the ICONOMI investment funds are introduced, as cooperation with regulatory bodies is expected to be required in order to bring financial instruments of the new economy to already established markets.
If I want to invest in the ICONOMI.PERFORMANCE fund after the ICO has ended, how do I do this?
To be able to join the ICONOMI.PERFORMANCE fund, an invitation will be needed. A separate ICONOMI.PERFORMANCE subsection will be prepared with instructions on how to invest in the fund.
How and when will I be able to leave the ICONOMI funds?
You will be able to exit the investment funds at any time, 24/7, either by withdrawing your funds to a bank account or at an ATM with the ICONOMI debit card. You will also be able to sell tokens of CTF funds at exchanges that will list ICONOMI investment funds.
OPEN FUND MANAGEMENT PLATFORM
How is profit sharing decided on the OFM platform?
Fees will be split between ICONOMI as a platform and the fund manager as the one performing trades. Exact numbers are not yet decided, but think of an Uber/Airbnb type of split.
How much does the fund manager get?
The fund manager will receive the majority of the fee - more than ICONOMI. See previous question.
How much is distributed as dividends to ICN token holders?
ICN token holders receive everything, after the operational costs of the service operator have been subtracted. Please note that we will be using the capital raised during the ICO for coverage of operational costs and will not participate in profit sharing as long as there are ICO funds left over.
Are dividends going to be paid out only as long as ICO money lasts?
No. Dividends are permanent and will be continuously paid out to ICN token holders.
So basically, dividends are the total income subtracted for operating costs, salaries and potential bonuses?
Yes.
Will ICONOMI.INDEX (CTF) and ICONOMI.PERFORMANCE (CMF) funds be migrated to the OFM platform, then profits from these 2 funds shared with holders of ICN tokens? Or are these first 2 funds entirely separate from the OFM platform / ICN tokens?
Yes - ICONOMI.INDEX and ICONOMI.PERFORMANCE funds will eventually be migrated to the OFM. In essence, those will be just two more funds on the platform.
Profits from the ICONOMI.INDEX and the ICONOMI.PERFORMANCE funds will be shared with ICN token holders immediately after the establishment of the funds.
How and when will I be able to leave the ICONOMI funds? What about the funds I invested during the ICO?
Funds invested during the ICO are not refundable, but you will get 100 % of your investment back if the 2000 BTC threshold is not met.
You will be able to exit the ICONOMI investment funds at any time, 24/7, either by withdrawing your funds to a bank account or at an ATM with the ICONOMI debit card. You will also be able to sell tokens of CTF funds at exchanges that will list ICONOMI investment funds.
BOUNTIES
How can I get bounty tokens?
Please check out our blog.
Can you add my Twitter/Facebook bounties to my ICONOMI balance?
Yes — please go here. All bounties will be distributed 1 week after the ICO ends and added to your ICONOMI account.
https://ico.iconomi.net/loginDo retweets of ICONOMI retweets count towards Twitter bounty, or are only only ICONOMI tweets eligible?
Retweets of ICONOMI retweets count.
Are retweets of replies to ICONOMI tweets considered for bounty calculation?
No.
Are @iconominet mentions considered for bounty calculation?
Yes; however, tweets starting with “@iconominet” DO NOT count.
EXAMPLE OF A MENTION THAT DOES NOT COUNT FOR BOUNTY:
“@iconominet is introducing new financial instruments for the decentralised economy.”
EXAMPLE OF A MENTION THAT DOES COUNT FOR BOUNTY:
“. @iconominet is introducing new financial instruments for the decentralised economy.” “The @iconominet fund management platform for the decentralised economy has realized another milestone.”
MISCELLANEOUS
How do we change/update the email address we initially registered with during the ICO?
The ICO email address is not changeable. You will be able to choose a different one when ICONOMI is launched.
Do I have to verify my identity to participate in the ICO?
Not if you participate with cryptocurrencies.
When do I have to verify my identity?
Verification is required if you are depositing more than 1000 EUR or equivalent.
Our website will guide you through the verification process - for deposits up to 15.000 EUR or equivalent, an ID document is required. For deposits over 15.000 EUR or equivalent, a valid proof of residence document (bank account statement, utility bill, etc., that has been physically mailed to your home address within the last 3 months) has to be provided.
For deposits over 100.000 EUR or equivalent, please contact us.
Are the funds held in escrow?
Yes, Bitcoin and Ether are held in multi-signature addresses, while Lisk private keys are held by the co-founder & CEO of Lisk, Max Kordek. The funds will be released 1 week after the release of the ICONOMI tokens.
Where are you based?
We are based in Ljubljana, Slovenia.
Is this project managed and owned by Cashila OOD s.r.o or will there be another company?
This project is only managed, not owned by Cashila OOD s.r.o.. The owners of ICONOMI are the ICN token holders (for details please see the ICONOMI Whitepaper).
For details, please see the blog post addressing legal subjects on our blog.
How are Max Kordek/Gasper Kenda involved in this project?
The sole responsibility of Max Kordek and Gasper Kenda is the safekeeping of private keys of the addresses where funds are kept in escrow, as detailed here. They are not associated with ICONOMI in any other way whatsoever.
GLOSSARY
CMF - "Coin Managed Fund"; analogous to well-known Actively managed funds, where a portfolio manager chooses the fund's investments using a combination of in-depth research, market forecasting, experience, and expertise.
CTF - "Coin Traded Fund"; analogous to Exchange traded funds, where you are buying shares of a portfolio that tracks the yield and return of its native index. ETFs are traded on stock exchanges and trade close to their net asset value, trying to replicate the performance of the tracking index instead of outperforming it.
ICO - "Initial Coin Offering"; analogous to Initial Public Offering, which represents the moment when a private company is offered to the public for the first time. Unlike with IPO where stocks are issued, crypto tokens are created and divided among the crowdfunding participants.
ICONOMI TOKEN (ICN) - ICONOMIs own ICO tokens. 100 % of the ICONOMI tokens represent 100 % ownership of the ICONOMI platform.
Enough with the questions that have already been answered
