[ANN] ICONOMI - Fund Management Platform

[someonesomeone]

I agree. How do you plan on bringing new investors to your funds?

Congrats on the great start! Have you already been in contact with any exchanges? Poloniex would sure be great to have on the first day of trading

Not directly. We are focusing on ICO now as much as possible. If it goes as well as planned and as it started hitting exchanges won't be a problem:)

[royalpalm]

Is there an option to cash out? I mean, since the value of an ICN token is determined by the funds backing it, can I decide to "burn" my tokens in exchange for the money backing them (so basically like the DAO did)?
Obviously, I could sell them on the market and I'd expect the market price to be higher than the "cash-out" price anyway, but conceptually, it would make sense to have that option (even if it's bound to a waiting period or you can only cash out at certain times or something like that).

From FAQ

19. 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.

So this is also a refundable ICO like antshares? I don't understand this faq.19 well.

[ICONOMI]

Is there an option to cash out? I mean, since the value of an ICN token is determined by the funds backing it, can I decide to "burn" my tokens in exchange for the money backing them (so basically like the DAO did)?
Obviously, I could sell them on the market and I'd expect the market price to be higher than the "cash-out" price anyway, but conceptually, it would make sense to have that option (even if it's bound to a waiting period or you can only cash out at certain times or something like that).

From FAQ

19. 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.

So this is also a refundable ICO like antshares? I don't understand this faq.19 well.

This is for ICONOMI funds.

ICO is non refundable. And the amlunt invested will give you ICN tokens.

[BoldNinja]

Is there an option to cash out? I mean, since the value of an ICN token is determined by the funds backing it, can I decide to "burn" my tokens in exchange for the money backing them (so basically like the DAO did)?
Obviously, I could sell them on the market and I'd expect the market price to be higher than the "cash-out" price anyway, but conceptually, it would make sense to have that option (even if it's bound to a waiting period or you can only cash out at certain times or something like that).

From FAQ

19. 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.

So this is also a refundable ICO like antshares? I don't understand this faq.19 well.

This is for ICONOMI funds.

ICO is non refundable. And the amlunt invested will give you ICN tokens.

ICO is not refundable, but you will get your investment back if threshold isn't met (but I don't think there should be any problem getting 2000 BTC in ICONOMI as it's already shown a nice positive start).

[redhero]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

[ImHash]

When I need bread I go to bakery, when I need fast food I go to KFC for example.
Or like some one just doing some programming while no physical work has been done still getting paid because some one needed his work and willingly valued his work because he needed the program, OK.

In order for me to come to you and need your services when I want...... and need........?
Could you fill the dots?

I'm sorry if I'm dumb but I felt like maybe others wondering the same things.

[BoldNinja]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

The total amount of ICN tokens you will receive per BTC will be known when ICO ends on 29th September and thus ICO price per token. After that market will determine via exchanges how much will each token gain or lose in value.

[BoldNinja]

When I need bread I go to bakery, when I need fast food I go to KFC for example.
Or like some one just doing some programming while no physical work has been done still getting paid because some one needed his work and willingly valued his work because he needed the program, OK.

In order for me to come to you and need your services when I want...... and need........?
Could you fill the dots?

I'm sorry if I'm dumb but I felt like maybe others wondering the same things.

ICONOMI will provide investment funds for any layman person who knows nothing about current crypto-trends / markets or doesn't want to get involved in 1000 other ICO projects as they will do the work for you (manage funds) and also provide you with dividend option that will pay you interest depending on their success.

[lokojones]

another ico? thank you...
wait, this is only white paper? wait, is any paper exist?
so dont wait, just go for it:)

[Crypto_MERC]

Are you looking to raise 2k btc in total value?  Or 2k btc plus the additional crypto-currencies and fiat you collect?

[redhero]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

The total amount of ICN tokens you will receive per BTC will be known when ICO ends on 29th September and thus ICO price per token. After that market will determine via exchanges how much will each token gain or lose in value.

yes, the exchange will decide the ICN token price, but i want to know the ICN token inner value. what is the inner value of ICN token? Will 100% the ICN token represent 2000BTC value?  Who will the 2000BTC blong to ? The 100% ICN token holders or others?

[ttookk]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

The total amount of ICN tokens you will receive per BTC will be known when ICO ends on 29th September and thus ICO price per token. After that market will determine via exchanges how much will each token gain or lose in value.

Well, in this particular case, the value will be determined by the proficiency of the trading team as well as the market. There will be a baseline in price, because that is what you'll get out of Iconomi, should you decide to cash out. How much more the tokens value will be, will be determined by the performance of the traders.
Btw., do we know about their trading skills?

[BoldNinja]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

The total amount of ICN tokens you will receive per BTC will be known when ICO ends on 29th September and thus ICO price per token. After that market will determine via exchanges how much will each token gain or lose in value.

yes, the exchange will decide the ICN token price, but i want to know the ICN token inner value. what is the inner value of ICN token? Will 100% the ICN token represent 2000BTC value?  Who will the 2000BTC blong to ? The 100% ICN token holders or others?

2000 BTC is minimum meaning it can end at 2000 BTC or 20000 BTC no upper limit set only minimum. BTC will belong to ICONOMI team to develop, market and bring up the value of ICN tokens after ICO ends.

Are you looking to raise 2k btc in total value?  Or 2k btc plus the additional crypto-currencies and fiat you collect?

I think they are looking to raise around $1.2m altogether from all currencies which is around 2k BTC.

[equator]

Can you provide access to some scenarios that lay out how the dividend math to token-holders would work in practice? I would imagine that some folks here may not be that sophisticated in their understanding of how the value flows through the layers here. Thanks.

The most basic concept will work like this. We'll issue 100m ICN tokens.

Then we'll create CTF and CMF funds.
With those funds we'll earn profits.  
Some of profit will be used to pay the team and our expenses (however, for as long as we'll still have funds from ICO we won't take any profits for team and expanses, but will distribute all the profits to ICN token holders). The rest will be distributed to ICN token holders.


Hypothetically if we create 3m EUR profits in our first year and we'll burn just ICO money (which for the first year it will definitely be the case) then 3m EUR will be given to ICN token holders as dividends. Payouts will probably be weekly or even more frequent.

ICN will effectively be a "coin" with dividend. One that you can buy/sell on exchange. And while you hold it it brings you a dividend. And the value goes up/down accordingly.

Dividends will be paid in ICN, correct ?

No. Dividends will be paid in ETH.

If they would be paid in ICN, we would need to create more ICN tokens. And ICN will be build on top of Ethereum, so paying it in ETH will work our of the box, because technically holding ICN token will mean that you hold private key of an Ethereum address which has access to ICN.

It's quite a technical question. Let me know if you need deeper explanation or simplified version.

Can you give me in simplified version, of how this ICN will work and how much time we have to hold the coin to get the dividend , like what others are offering in POS state does it mean like that, If the dividend is high then i can hold for 3 to 6 month of time.

Can't get any more simpler.

Dividends will start when first fund is launched.

Now i got it i think it means just like POS, how much coins we hold it in our wallet that match value of ratio of dividends will be paid through ICN , so after the launch of the wallet and buy and keep the coins for how much long period will be the dividends payable.

If i am having 10000 iconomic coins in my wallet for like 6 months then will i get for each week dividends till i am holding or selling it or some specific ratio is their.

[ICONOMI]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

The total amount of ICN tokens you will receive per BTC will be known when ICO ends on 29th September and thus ICO price per token. After that market will determine via exchanges how much will each token gain or lose in value.

Well, in this particular case, the value will be determined by the proficiency of the trading team as well as the market. There will be a baseline in price, because that is what you'll get out of Iconomi, should you decide to cash out. How much more the tokens value will be, will be determined by the performance of the traders.
Btw., do we know about their trading skills?

Best idea to understand our vision and understanding that the team knows what we're talking is to check whitepapers. Even if you just scan them:

https://www.iconomi.net/ICONOMI_Whitepaper.pdf
https://www.iconomi.net/CoinFundsWhitepaper.pdf  

[xiaokele]

Events  

• Pirate Summit 6-7 September, Cologne, Germany
• Ethereum Devcon2 @ International Blockchain Week   19-21 September, Shanghai, China

I can't find any information about ICONOMI at the Pirate Summit. Is someone from your team listed with a different company reference? 

[Crypto_MERC]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

The total amount of ICN tokens you will receive per BTC will be known when ICO ends on 29th September and thus ICO price per token. After that market will determine via exchanges how much will each token gain or lose in value.

yes, the exchange will decide the ICN token price, but i want to know the ICN token inner value. what is the inner value of ICN token? Will 100% the ICN token represent 2000BTC value?  Who will the 2000BTC blong to ? The 100% ICN token holders or others?

2000 BTC is minimum meaning it can end at 2000 BTC or 20000 BTC no upper limit set only minimum. BTC will belong to ICONOMI team to develop, market and bring up the value of ICN tokens after ICO ends.

Are you looking to raise 2k btc in total value?  Or 2k btc plus the additional crypto-currencies and fiat you collect?

I think they are looking to raise around $1.2m altogether from all currencies which is around 2k BTC.

Thanks Bold.  Can i get a confirmation of this from the dev?  It may not even matter by the time it is said and done, but i would like to know before i invest this week.

[ICONOMI]

Hi, I am not clear what is the ICN token value. Example I send 1 btc to ICO adress and get somes ICN token back. Do it mean these ICN tokens valve are always at least 1btc?  if the ICN tokens market 's price is lower than 1btc, whether can I request ICONOMI fund to give back 1btc to me?

Price of ICN token will be defined by investors. In that case 1 BTC will be worth xx amount of ICN tokens.

You can not request to receive 1 BTC back during the ICO. After ICO you will receive corresponding amount of ICN tokens which you can convert back to BTC or more if price will appreciate on exchanges which will list ICN.

[ICONOMI]

When I need bread I go to bakery, when I need fast food I go to KFC for example.
Or like some one just doing some programming while no physical work has been done still getting paid because some one needed his work and willingly valued his work because he needed the program, OK.

In order for me to come to you and need your services when I want...... and need........?
Could you fill the dots?

I'm sorry if I'm dumb but I felt like maybe others wondering the same things.

Using your analogy.

When you need bread you go to bakery.
You could also buy ingredients and make that bread at home. This is how we invest now in crypto.

When you want to build a house you hire subcontractors. This is analogy of us.
But you could also buy material needed for house and build it yourself. But you would need to have time and experiences and be skilled at it. This is what community is now. This is how we do it.

But in order to get other people busy in their daily life and without sufficient understanding of "how" to do it we'll build financial services that will serve to people outside crypto to get into crypto.

They will need to know they want a "house". Maybe one with balcony or in different design and they will get just that.

I hope that answers your question.

Edit: ICONOMI will get paid for that service and will then distribute profits to cover our expanses and the rest of the profits we'll distribute as profits to ICN token holders.

[Crypto_MERC]

Off to a nice start.   1/12th of the way there already.  I did my part and threw a couple btc towards it.  Good luck and i hope the team can make this a success....and of course make us some money.