[ANN] ICONOMI - Fund Management Platform

[MrPresident]

Anyone having luck creating new wallet contracts? Mine been stuck "Creating" the contract for 1/2 hour while fully synced....?


edit... and finally vanished totally.

Why would you want to deploy a new contract for? You would just need to add new token (ICN) to your watch list. Token contract address will be provided later.

so I can see incoming tx when the time comes... but thx for the info  
The only thing clear about the ETH wallet to me so far is that I'm beginning to develop a hatred for it.

[1714605627]

1714605627

[1714605627]

1714605627

[davide72]

What will be the price for 1 ICN? Vote!
https://bitcointalk.org/index.php?topic=1628513.0

might be a estimation price

Liqui is nothing to do with real market!

[MrPresident]

What will be the price for 1 ICN? Vote!
https://bitcointalk.org/index.php?topic=1628513.0

edit

might be a estimation price

Liqui is nothing to do with real market!

Liqui is the "Blue Pill" market

[kokica2000]

Why would you want to deploy a new contract for? You would just need to add new token (ICN) to your watch list. Token contract address will be provided later.

so I can see incoming tx when the time comes... but thx for the info 
The only thing clear about the ETH wallet to me so far is that I'm beginning to develop a hatred for it.

You don't need your own contract for that. Iconomi will provide their contract address that you will add to your watch list. See an example (for DGD) here.

[MrPresident]

Yea got that to work... thx.
...create a "watch contract", omg.
Well, they're probably too busy at ETH-HQ putting out fires lately to even have time to work on GUI streamlining.

I suppose there's a rocket-science tutorial somewhere on how to import paper wallet key?

[ICONOMI]

Other translation won't be paid?    You think they other 43 guys do not contribute to iconomi? No people talked there doesn't mean no one invested. You consider only Russian and Indonesian invest? It is unfair to other 43 translators.

It will be paid but much less than Russian translation. On my thread there is no posts, but 200 people read that. If 10% of these people invested in ICO that is 20 people. So yes, you right, I think posts in local threads doesn't matter.

BTW someone said that russian thread is full of spam and bots, but I don't care

Source: https://bitcointalk.org/index.php?topic=1587736.msg16454800;topicseen#msg16454800

Russian thread was read 74k times. According to 10% for your thread that means 7.4k russian readers invested. Wait, we have 3.5k total investors....your assumptions are way off chart.

[ICONOMI]

Right now we are:
- 2 cofounders + an advisor basically on close to same level of dedication as us two
- 4 developers. 2 more onboarding right now
- 1 designer being onboarded right now as well
- 1 legal
- 1 product guy coming from Berlin on 16th October
- 2 in communications / marketing
- 1 financial guy

The thing is, that we started hiring before ICO ended as well as looking for new office space to rent. And we were actually warming people that were able to join right now almost since the beginning of this year. All that because if we would start with all that right now, we wouldn't be able to have team as of right now before year ends. You can't get A+ players right off the shelf in a week to say.

How long to burn the funds I can't say right now. Could be that legal is something we'll have to pay a lot for. I would say we are good for at least 5years (that would be $2m per year, which we are far from burning right now... but let's take into account that there might be some unexpected costs). Additionally to that. I was in NYC last week and lawyers there talk 6 digit figures and our PR agency is located right on Wall Street - they for sure are not the cheapest - but are very much needed.

You announced that the funds past $5 mil would be used for the performance.fund. What's going on exactly?

My bad. I apologize. Whatever raised over 10k BTC during ICO will go into ICONOMI.performance fund. But that fund will be then creating more value for ICONOMI and most likely extend our runway for waaay waaay longer. Profits from that fund will be distributed as dividends to ICN token holders.

[yubit]

ICONOMI,
please check and correct translation table

If to count posts of local threads to 20.00 UTC 29 September, must be:

Slovenian - 25
Ukrainian - 29
because bitcoingarden forum have time UTC+2

And russian - 1967

Urdu - about 60 posts not URDU, all in English by one man

Why counted posts for German? - translator was active on BTT last August 25, 2016 https://bitcointalk.org/index.php?action=profile;u=231042


and others ...

[lanbo]

ICONOMI team, please excuse me again. But you didn't understand me.
I am not crying. I have not questions about my work.
I do not look at someone else's pocket.
I don't care how many earned russian translator SKYRIK. I agree - he really made a great job and he is nice guy. And I respect him.
I have ONLY ONE QUESTION:
Why you so seriously fighting with twitter/FB spam, but, on the other hand, ignored forum and so easy calculated all posts x5 stakes and paying for spam? About 70% of posts are flood about nothing.

Look please, I have proof by some examples:

1. One user says, September 14:
RUS original: Caмoe вpeмя пpocить paзpaбoтчикoв пpoвepить нa cпaм pyccкyю вeткy Iconomi нa фopyмe. Tyт 60 cтpaниц - cплoшнoй cпaм, cpaч и oбcyждeниe чyжиx мaмoк. P.S. Skyrik, нe пpинимaй близкo к cepдцy, ты вклaдывaeшьcя нa 100%
https://bitcointalk.org/index.php?topic=1587829.msg16250790#msg16250790
ENG transl.: It's time to ask the developers to check for spam Russian thread of Iconomi. 60 pages - a continuous spam, invective and discussion another's mammy. P.S. Skyrik, do not take it to heart, you put in 100%

And even SKYRIK himself confirms flooding in his thread, answers to above user:
RUS original: Пocлeднии 5-7 cтpaниц дa. Bce ocтaльнoe oтвeты нa вoпpocы...
https://bitcointalk.org/index.php?topic=1587829.msg16250815#msg16250815
ENG transl.: The last 5-7 pages yes. Another the answers ...

2. Another:
RUS original: зa пoл дня нaфлyдили 6 cтpaниц в пoиcкax peцeптoв и бoтoв
https://bitcointalk.org/index.php?topic=1587829.msg16250021#msg16250021
ENG transl.: For a half of day have flooded 6 pages in searching of recipes and bots

3. Some else interesting post:
RUS original: нy чтo нapoд cдeлaeм дoбpoe дeлo , кaчнeм вeткy дo 100 cтpaниц дo oкoнчaния иco . Дoгoним aнглoвeткy. Cдeлaeм чeлoвeкa бoгaтым
https://bitcointalk.org/index.php?topic=1587829.msg16250408#msg16250408
ENG transl.: Well, guys, do a good deed, swing the branch up to 100 pages before the end of the ICO. Catch english thread. Let us make a person rich.

4. RUS original: Я взял и вce пpopeтвитил нa вcякий cлyчaй
https://bitcointalk.org/index.php?topic=1587829.msg16248967#msg16248967
ENG transl.: I took and retweeted all, just in case

And more and more and more proof you can find ...

For example, pages from 50 to 60+ flooding about twitter button and FB comments, almost without SKYRIK participation.

You may not like it, but it's true.
It's not seriously and not fair! Sorry

Your investigation seems has a valid argument not to be ignored. I vouch that all bounty distribution should be fair as much as possible. Counting spammy post for the benefit of someone is not a good idea.   

[Brob12321]

Very interesting concept.  I will have to see how to buy into this on the secondary market if possible at the moment.  I guess i'm just a bit confused as to how you buy into the separate funds once you own the coin

[OutLiar]

So if we purchased with Lisk, the price at the time is not fixed?

I sent about $1k worth of Lisk and my account went to show $945 and now $899 due to Lisk price decline.  

I'm also seeing my ICN shares lower (By almost 1000) and am wondering if this is a reflection of the Lisk price decline or distribution numbers being finalized.

ETA: AS far as I can tell this is the case.  lol Someone get lisk on the pump please!

[Brob12321]

Also what does ownership of a token actually get you I understand its ownership in the platform itself however what is the value of these tokens and what are the dividend payouts based on, are there fees related to the funds that shareholders will gather or something along those lines?  I'm trying to read the whitepaper but I can't find this info so far.

[MoveCrypto]

Also what does ownership of a token actually get you I understand its ownership in the platform itself however what is the value of these tokens and what are the dividend payouts based on, are there fees related to the funds that shareholders will gather or something along those lines?  I'm trying to read the whitepaper but I can't find this info so far.

Let's assume in the first year iconomi.performance invests 7000 BTC into icos, with an average return of 4x.  That's 21000 BTC profit.  ~20% of this profit will be sent to ICN token holders as dividends.  21000 BTC × 0.20 = 4200 BTC dividends

Let's assume the market buys ICN tokens up until the dividends equal 5% APR.  4200 BTC ÷ 0.05 = 84000 BTC market cap

^^^ That's just talking about the iconomi.performance fund.  Add in the dividends from the ~2% management fee on the iconomi.index fund, dividends from the fund management platform, dividends from any other funds iconomi may create, speculation, and the fact that the market loves to put money behind innovative ideas with trustworthy/hardworking teams, and this will rise up above Ripple market cap level (400k BTC).

I think the only reason the price is so cheap on liqui right now, is no one is trusting to send their BTC there to buy.

[Pap0u]

Also what does ownership of a token actually get you I understand its ownership in the platform itself however what is the value of these tokens and what are the dividend payouts based on, are there fees related to the funds that shareholders will gather or something along those lines?  I'm trying to read the whitepaper but I can't find this info so far.

Let's assume in the first year iconomi.performance invests 7000 BTC into icos, with an average return of 4x.  That's 21000 BTC profit.  ~20% of this profit will be sent to ICN token holders as dividends.  21000 BTC × 0.20 = 4200 BTC dividends

Let's assume the market buys ICN tokens up until the dividends equal 5% APR.  4200 BTC ÷ 0.05 = 84000 BTC market cap

^^^ That's just talking about the iconomi.performance fund.  Add in the dividends from the ~2% management fee on the iconomi.index fund, dividends from the fund management platform, dividends from any other funds iconomi may create, speculation, and the fact that the market loves to put money behind innovative ideas with trustworthy/hardworking teams, and this will rise up above Ripple market cap level (400k BTC).

I think the only reason the price is so cheap on liqui right now, is no one is trusting to send their BTC there to buy.

I agree with all of this. It really amazes me how people do not see the true value of ICONOMI and as I sit and think of realistic outcomes for the future all I get is a small grin and the wish I would've bought more.

[MrPresident]

Also what does ownership of a token actually get you I understand its ownership in the platform itself however what is the value of these tokens and what are the dividend payouts based on, are there fees related to the funds that shareholders will gather or something along those lines?  I'm trying to read the whitepaper but I can't find this info so far.

Let's assume in the first year iconomi.performance invests 7000 BTC into icos, with an average return of 4x.  That's 21000 BTC profit.  ~20% of this profit will be sent to ICN token holders as dividends.  21000 BTC × 0.20 = 4200 BTC dividends

Let's assume the market buys ICN tokens up until the dividends equal 5% APR.  4200 BTC ÷ 0.05 = 84000 BTC market cap

^^^ That's just talking about the iconomi.performance fund.  Add in the dividends from the ~2% management fee on the iconomi.index fund, dividends from the fund management platform, dividends from any other funds iconomi may create, speculation, and the fact that the market loves to put money behind innovative ideas with trustworthy/hardworking teams, and this will rise up above Ripple market cap level (400k BTC).

I think the only reason the price is so cheap on liqui right now, is no one is trusting to send their BTC there to buy.

yes those dividends have alot of potential... more than most people realize. As more funds come (and they will) like Tradeview groups such as whaleclub  (nudge) will form their own index fund within ICN the base token dividend values will just keep rising until the index is saturated with managed funds; at which time, ICN tokens will be expensive. Each Fund kicks fees, profit or not; plenty of dividends still roll in from fees. Actual profit from those funds just sweetens the pie all the more.

[reginalkri]

Also what does ownership of a token actually get you I understand its ownership in the platform itself however what is the value of these tokens and what are the dividend payouts based on, are there fees related to the funds that shareholders will gather or something along those lines?  I'm trying to read the whitepaper but I can't find this info so far.

Let's assume in the first year iconomi.performance invests 7000 BTC into icos, with an average return of 4x.  That's 21000 BTC profit.  ~20% of this profit will be sent to ICN token holders as dividends.  21000 BTC × 0.20 = 4200 BTC dividends

Let's assume the market buys ICN tokens up until the dividends equal 5% APR.  4200 BTC ÷ 0.05 = 84000 BTC market cap

^^^ That's just talking about the iconomi.performance fund.  Add in the dividends from the ~2% management fee on the iconomi.index fund, dividends from the fund management platform, dividends from any other funds iconomi may create, speculation, and the fact that the market loves to put money behind innovative ideas with trustworthy/hardworking teams, and this will rise up above Ripple market cap level (400k BTC).

I think the only reason the price is so cheap on liqui right now, is no one is trusting to send their BTC there to buy.

So under that scenario, if I have $1,000 worth of ICN, how much would I receive in dividends. And would that amount change if the market cap was bigger? In other words is what I get in dividends will always be the same percentage to the number of coins I have?

[SwingFirst]

Great work of ICONOMI Team to examine abuses and google translation in the translated threads!

Congratulations

Yes, it is very dishonest to cheat like that.
Speaking of which, I had a look at the swedish "translation" of the ICONOMI ANN and I noticed that it's an obvious google translate job.

[bones]

Right now we are:
- 2 cofounders + an advisor basically on close to same level of dedication as us two
- 4 developers. 2 more onboarding right now
- 1 designer being onboarded right now as well
- 1 legal
- 1 product guy coming from Berlin on 16th October
- 2 in communications / marketing
- 1 financial guy

The thing is, that we started hiring before ICO ended as well as looking for new office space to rent. And we were actually warming people that were able to join right now almost since the beginning of this year. All that because if we would start with all that right now, we wouldn't be able to have team as of right now before year ends. You can't get A+ players right off the shelf in a week to say.

How long to burn the funds I can't say right now. Could be that legal is something we'll have to pay a lot for. I would say we are good for at least 5years (that would be $2m per year, which we are far from burning right now... but let's take into account that there might be some unexpected costs). Additionally to that. I was in NYC last week and lawyers there talk 6 digit figures and our PR agency is located right on Wall Street - they for sure are not the cheapest - but are very much needed.

You announced that the funds past $5 mil would be used for the performance.fund. What's going on exactly?

My bad. I apologize. Whatever raised over 10k BTC during ICO will go into ICONOMI.performance fund. But that fund will be then creating more value for ICONOMI and most likely extend our runway for waaay waaay longer. Profits from that fund will be distributed as dividends to ICN token holders.

If profits from that fund were given away as dividends,  how would it also extend your runway?
You can only spend it once.

[MrPresident]

Great work of ICONOMI Team to examine abuses and google translation in the translated threads!

Congratulations

Yes, it is very dishonest to cheat like that.
Speaking of which, I had a look at the swedish "translation" of the ICONOMI ANN and I noticed that it's an obvious google translate job.

Not translation perfect google car you like? (jk) 

[MrPresident]

If profits from that fund were given away as dividends,  how would it also extend your runway?
You can only spend it once.

Because they own 15 million tokens still and will also be collecting dividends