[ANN] ICONOMI - Fund Management Platform

[ICONOMI]

Thanks for your answers so far but I'm really keen to know the escrow rules. Will funds be released right away when the 2000 BTC has been reached with the ICO?

Funds collected during ICO are released only when we launch and distribute ICN tokens.

Here is a full blog post about collecting, rules, escrow: https://medium.com/iconominet/collecting-funds-and-multisig-key-holders-d2bb5d517a6f#.y9me4hp5g

Which means (if I read it well) that "If the funds aren’t released by the end of Q4 2016 (or by 31/12/16), meaning that we (ICONOMI) didn’t deliver our service, funds will be immediately returned to all the participants."

Is that correct?

That is correct.

[BitBanksy]

Thanks for your answers so far but I'm really keen to know the escrow rules. Will funds be released right away when the 2000 BTC has been reached with the ICO?

Funds collected during ICO are released only when we launch and distribute ICN tokens.

Here is a full blog post about collecting, rules, escrow: https://medium.com/iconominet/collecting-funds-and-multisig-key-holders-d2bb5d517a6f#.y9me4hp5g

Which means (if I read it well) that "If the funds aren’t released by the end of Q4 2016 (or by 31/12/16), meaning that we (ICONOMI) didn’t deliver our service, funds will be immediately returned to all the participants."

Is that correct?

That is correct.

Thanks! Clarification much appreciated 👍

[ihanaihana]

I am interested in translation bounty, what does 100 stakes mean? 100 coins? Or total coins/total stake= 1 stake, and we get 100*1 stake coin?

[BitBanksy]

Another clarification needed:

For those who wish to participate in the ICO with fiat currencies:

• will they also get an official certificate/contract of participation?
• in case funds will be returned, will fiat payment be subject to depreciation like BTC or hidden fees or will the full invested amount be returned at the expense of ECONOMY?

[BitBanksy]

I am interested in translation bounty, what does 100 stakes mean? 100 coins? Or total coins/total stake= 1 stake, and we get 100*1 stake coin?

Your question got answered earlier:

It's calculated differently. Actually even better for you.

400k tokens will be proportionally distributed to all the stakes collected in translation and moderation bounty.
If you do translation you receive 100 stakes. Then for each post in your local thread you get 5 more stakes.

Example:
- you do translation: 100 stakes
- your local thread receives 50 posts. Then you also get 50x5 stakes = 250 stakes

That way your total stakes are 350.

If all the stakes earned for translation and moderation are 5000. Then your share is 350/5000 stakes. 5000 stakes equals to 400k ICN tokens.
That means that each stake is worth 80 tokens.

In the example above you would receive 28,000 ICN (80 x 350) tokens for your translation and keeping the thread alive.

[darklus123]

Another clarification needed:

For those who wish to participate in the ICO with fiat currencies:

• will they also get an official certificate/contract of participation?
• in case funds will be returned, will fiat payment be subject to depreciation like BTC or hidden fees or will the full invested amount be returned at the expense of ECONOMY?

Well i think that since they did not stated that anyone who participated  will be able to get certificate of participations. If so they should to state it,  i havent fully understood  your second question but i think there would always be fees but if they hide or not it would surely depends on them

[ICONOMI]

Another clarification needed:

For those who wish to participate in the ICO with fiat currencies:

• will they also get an official certificate/contract of participation?
• in case funds will be returned, will fiat payment be subject to depreciation like BTC or hidden fees or will the full invested amount be returned at the expense of ECONOMY?

For those investing with fiat everything is same. You invest and in exchange for invest receive ICN tokens. There is no contract signing or anything else. Straightforward.

In case of refunds we'll cover wire fee. That means if you send 5k usd in with OUR option we will receive 5k usd. Thus in case of returning we'll send all 5k usd back. And we'll cover transaction fees.
When you were sendinng money in, you also had to pay fee for wire transfer and that's the only expense u would have in case of returning funds.

With sending non usd/eur it will be the same. But because we'll convert anything that is not usd/eur into eur. You would be subject to volatility between eur currency and the currency that was sent.


Also thank you for copying an answer for translation bounties just before! Appreciated.

[BitBanksy]

Another clarification needed:

For those who wish to participate in the ICO with fiat currencies:

• will they also get an official certificate/contract of participation?
• in case funds will be returned, will fiat payment be subject to depreciation like BTC or hidden fees or will the full invested amount be returned at the expense of ECONOMY?

For those investing with fiat everything is same. You invest and in exchange for invest receive ICN tokens. There is no contract signing or anything else. Straightforward.

In case of refunds we'll cover wire fee. That means if you send 5k usd in with OUR option we will receive 5k usd. Thus in case of returning we'll send all 5k usd back. And we'll cover transaction fees.
When you were sendinng money in, you also had to pay fee for wire transfer and that's the only expense u would have in case of returning funds.

With sending non usd/eur it will be the same. But because we'll convert anything that is not usd/eur into eur. You would be subject to volatility between eur currency and the currency that was sent.


Also thank you for copying an answer for translation bounties just before! Appreciated.

You're welcome! Thanks again for your answer. I guess it's wiser to invest in fiat then so as to avoid any possible depreciation with BTC in case funds shall be returned. Correct?

[ihanaihana]

I am interested in translation bounty, what does 100 stakes mean? 100 coins? Or total coins/total stake= 1 stake, and we get 100*1 stake coin?

Your question got answered earlier:

It's calculated differently. Actually even better for you.

400k tokens will be proportionally distributed to all the stakes collected in translation and moderation bounty.
If you do translation you receive 100 stakes. Then for each post in your local thread you get 5 more stakes.

Example:
- you do translation: 100 stakes
- your local thread receives 50 posts. Then you also get 50x5 stakes = 250 stakes

That way your total stakes are 350.

If all the stakes earned for translation and moderation are 5000. Then your share is 350/5000 stakes. 5000 stakes equals to 400k ICN tokens.
That means that each stake is worth 80 tokens.

In the example above you would receive 28,000 ICN (80 x 350) tokens for your translation and keeping the thread alive.

Thanks a lot sir. And I just found the OP said this project has a 2000 BTC lowest target, if we can't gather 2000 BTC after the deadline, so we won't be paid a translation bounty?

Hmm, let me think about it, this translation bounty may be risky of unpaid.    

[ICONOMI]

Another clarification needed:

For those who wish to participate in the ICO with fiat currencies:

• will they also get an official certificate/contract of participation?
• in case funds will be returned, will fiat payment be subject to depreciation like BTC or hidden fees or will the full invested amount be returned at the expense of ECONOMY?

For those investing with fiat everything is same. You invest and in exchange for invest receive ICN tokens. There is no contract signing or anything else. Straightforward.

In case of refunds we'll cover wire fee. That means if you send 5k usd in with OUR option we will receive 5k usd. Thus in case of returning we'll send all 5k usd back. And we'll cover transaction fees.
When you were sendinng money in, you also had to pay fee for wire transfer and that's the only expense u would have in case of returning funds.

With sending non usd/eur it will be the same. But because we'll convert anything that is not usd/eur into eur. You would be subject to volatility between eur currency and the currency that was sent.


Also thank you for copying an answer for translation bounties just before! Appreciated.

You're welcome! Thanks again for your answer. I guess it's wiser to invest in fiat then so as to avoid any possible depreciation with BTC in case funds shall be returned. Correct?

That depends on if you are long in BTC or not.

If you invest 10 BTC and we do refunding then you will receive all 10 BTC back. Now if you care if they are worth more or less in a few months that depends on you.

[gandame]

OP must have a organize road map for this project. i think visual road map is good for easily understand the program of the project.
i will invest later once i have my funds.  

this is a bit strange for me too. I can't see any road map in the OP. I think A road map is very important for a newborn crypto currency. we should at least know what you guys going to do and when you guys going to do..
at least ICO time is announced. but lots of other things which should be listed in Road map.
like wallet, exploror, web wallet, mobile wallet, mining pool, listing in exchanges etc.

OP give here some attention please.

I agree road map is important but urging before the completion of ICO is not good in my opinion. Because with finishing ICO, they will come to know about budget and future plan based on the crowd interest and available funds. So, I believe we must wait for some more time or at least till ICO ends to get road map .

What is the meaning of the road map ? What I did trading but I do not know what it is and how important it especially to the traders , would have explained it to me for I understand and I know what's with the road map . Thank you , especially those who explain to me what is its importance to me.

[ICONOMI]

I am interested in translation bounty, what does 100 stakes mean? 100 coins? Or total coins/total stake= 1 stake, and we get 100*1 stake coin?

Your question got answered earlier:

It's calculated differently. Actually even better for you.

400k tokens will be proportionally distributed to all the stakes collected in translation and moderation bounty.
If you do translation you receive 100 stakes. Then for each post in your local thread you get 5 more stakes.

Example:
- you do translation: 100 stakes
- your local thread receives 50 posts. Then you also get 50x5 stakes = 250 stakes

That way your total stakes are 350.

If all the stakes earned for translation and moderation are 5000. Then your share is 350/5000 stakes. 5000 stakes equals to 400k ICN tokens.
That means that each stake is worth 80 tokens.

In the example above you would receive 28,000 ICN (80 x 350) tokens for your translation and keeping the thread alive.

Thanks a lot sir. And I just found the OP said this project has a 2000 BTC lowest target, if we can't gather 2000 BTC after the deadline, so we won't be paid a translation bounty?

Hmm, let me think about it, this translation bounty may be risky of unpaid.    

If you think we might have hard time raising 2k BTC then you should wait for us to collect at least 2k btc and u'll be on a safe side. But then ur risk is that someone else will do translation instead. And probably u can get more activity in the thread if you start sonner. But of course, all up to u:)

[anama]

Thanks for your answers so far but I'm really keen to know the escrow rules. Will funds be released right away when the 2000 BTC has been reached with the ICO?

usually the generaly ico coin collect to escrow
after ico end and in target fund ico reached, then these funds are in escrow to gradually flushed market, at market exchanger where the accepted coin ico
so fund result ico not send founder or owner but flushed to market is gradually not all

[carlfebz2]

ohh this is eagerly awaited. big project
I think iconomi would be a great thing when present.
prospects for the future look bright from now
was evidenced by his numerous bountie interesting. and it will invite more investors to join iconomi

Gud Luck & Succes ICONOMI
we are here for support always

your statement is true
ICONOMI next will big coin, becauce team dev ICONOMI is good and expert in dev altcoin and reputable

Max Kordek, Co-founder and CEO LISK
Alexander Hirner, Founder and Organiser of Ethereum Vienna
Gasper Kenda, Co-founder, Xaurum project
Tim M. Zagar, Co-founder, ICONOMI

founder LISK, XAURUM join and escrow team

the big team and high quality person expert and experience
Ervin U. Kovac, Legal lead
Sladana Cevriz, Marketing lead
Tjasa Tolj, Marketing assistant
Primoz Kordez, Investment lead
Urban Jezernik PhD, Mathematician
Domen Skalar, Infrastructure security 
Jan Mohoric, Mobile development
Rok Novosel, Development
Ales Lekse, Development lead
Jani Valjavec, Co-founder, Technology & Trading
Tim M. Zagar, Co-founder, Operations & Business

For detailed Team Members descriptions please check out ico.iconomi.net

Advisors
Aleksander Vasylchenko PhD, CTO Grid Singularity & Ex-CTO Mycelium
Zenel Batagelj, Co-founder, Managing Partner Valicon
Lyuben Belov, Co-founder, Managing Partner LAUNCHub
Domen Ursic, Independent PR advisor
Stephane Gantchev, Partner LAUNCHub and Co-organizer of DigitalK

As i see the list, all i can say that is has a big time and reputable developer same as you said also some are developers from xaurum which is recently launched and for sure it would be a  successful project once it launches. I would glad to invest with this project because i see the big potential of this coin.

[BitFinnese]

OP must have a organize road map for this project. i think visual road map is good for easily understand the program of the project.
i will invest later once i have my funds.  

this is a bit strange for me too. I can't see any road map in the OP. I think A road map is very important for a newborn crypto currency. we should at least know what you guys going to do and when you guys going to do..
at least ICO time is announced. but lots of other things which should be listed in Road map.
like wallet, exploror, web wallet, mobile wallet, mining pool, listing in exchanges etc.

OP give here some attention please.

I agree road map is important but urging before the completion of ICO is not good in my opinion. Because with finishing ICO, they will come to know about budget and future plan based on the crowd interest and available funds. So, I believe we must wait for some more time or at least till ICO ends to get road map .

What is the meaning of the road map ? What I did trading but I do not know what it is and how important it especially to the traders , would have explained it to me for I understand and I know what's with the road map . Thank you , especially those who explain to me what is its importance to me.

Roadmap is the proposed plan of this project.  It is what the ICONOMI Team will develop or create once the ICO meet the minimum target.  The project was explained in the OP and was explained in the middle part.  Anyway there is actually a graphical presentation of the road map it is that the account is newbie and can't show images yet. 

[StarofBTC]

OP must have a organize road map for this project. i think visual road map is good for easily understand the program of the project.
i will invest later once i have my funds.  

I agree with you. I also can't see any roadmap in the main thread, road map is most important thing for a new altcoin project.. with the road mape users will better know that what/which development when will be done,,

BTW ICO time is announced but there are a lot more thing which need A proper roadmap.
like, Desktop wallet, mobile wallet, mining pool, listed ot the exchange etc, need a roadmap.

OP please give attention there,

[adrimaug]

French translation : https://bitcointalk.org/index.php?topic=1590843.0

[ICONOMI]

OP must have a organize road map for this project. i think visual road map is good for easily understand the program of the project.
i will invest later once i have my funds.  

I agree with you. I also can't see any roadmap in the main thread, road map is most important thing for a new altcoin project.. with the road mape users will better know that what/which development when will be done,,

BTW ICO time is announced but there are a lot more thing which need A proper roadmap.
like, Desktop wallet, mobile wallet, mining pool, listed ot the exchange etc, need a roadmap.

OP please give attention there,

Check the visualised road map above your post. Is that what ur looking for?

[Sharma]

I am interested in translation bounty, what does 100 stakes mean? 100 coins? Or total coins/total stake= 1 stake, and we get 100*1 stake coin?

Your question got answered earlier:

It's calculated differently. Actually even better for you.

400k tokens will be proportionally distributed to all the stakes collected in translation and moderation bounty.
If you do translation you receive 100 stakes. Then for each post in your local thread you get 5 more stakes.

Example:
- you do translation: 100 stakes
- your local thread receives 50 posts. Then you also get 50x5 stakes = 250 stakes

That way your total stakes are 350.

If all the stakes earned for translation and moderation are 5000. Then your share is 350/5000 stakes. 5000 stakes equals to 400k ICN tokens.
That means that each stake is worth 80 tokens.

In the example above you would receive 28,000 ICN (80 x 350) tokens for your translation and keeping the thread alive.

Thanks a lot sir. And I just found the OP said this project has a 2000 BTC lowest target, if we can't gather 2000 BTC after the deadline, so we won't be paid a translation bounty?

Hmm, let me think about it, this translation bounty may be risky of unpaid.   

If you think we might have hard time raising 2k BTC then you should wait for us to collect at least 2k btc and u'll be on a safe side. But then ur risk is that someone else will do translation instead. And probably u can get more activity in the thread if you start sonner. But of course, all up to u:)

I would like to do Hindi (India) translation.
I can translate using devnagri script or English letters for translation.Which should I use to translate.

[BoldNinja]

OP must have a organize road map for this project. i think visual road map is good for easily understand the program of the project.
i will invest later once i have my funds.  

I agree with you. I also can't see any roadmap in the main thread, road map is most important thing for a new altcoin project.. with the road mape users will better know that what/which development when will be done,,

BTW ICO time is announced but there are a lot more thing which need A proper roadmap.
like, Desktop wallet, mobile wallet, mining pool, listed ot the exchange etc, need a roadmap.

OP please give attention there,

To put this in more perspective : currently we are in the ICO phase after that 3 investment funds will open when ICO commences. According to first post:

Q4 in 2016 (meaning anywhere from 1st October till 31st December 2016) : The ICONOMI.INDEX FUND will reflect the development of the credible cryptocurrency market. It will be transparently managed and traded on major exchanges. ICONOMI.INDEX fund will include several thoroughly researched cryptocurrencies, including Bitcoin, Ethereum, Lisk, Steem and other major value tokens.

Q4 in 2016 (meaning anywhere from 1st October till 31st December 2016) - which will be invite only : The ICONOMI.PERFORMANCE FUND will aim at high performance - multiplication of investment. It will be actively managed by a team of ICONOMI experts. Our team will scout for propitious early investment ICO opportunities (crowdfunded startup projects and companies). Through our company-focused fund, everyone can become a venture capitalist, without any of the hassle and capital requirements.

Project for 2017 : The ICONOMI Open Fund Management (OFM) platform is a simple management tool where traders with knowledge and experience create their own investment funds. Investors, on the other hand, are able to invest even the smallest amounts, offering a clear overview of available investment fund managers and their current & past performance. The ICONOMI Open Fund Management (OFM) platform will disrupt the asset management industry.