Devs,
It is good that you posted this on the index that is behind ICONOMI.INDEX fund (ICNX):
https://ico.iconomi.net/about-icnx-index. However, it is very incomplete. Here are a few questions that you need to answer. I am also available to help if you guys need it.
1. A random collection of things is not an index. Firstly, it needs to have a well-defined index criteria. e.g. S&P 500 index has a very well marketcap based defined criteria on which companies belong to the index. It could be 'this is decided by committee' but that needs to be explicitly and clearly stated.
2. How will the index composition change with time? Who decides when a new cryptocurrency is added to the index? Who decides when it is removed from the index?
3. How will the index allocation change with time? Given the components that you've chosen, how will the percentages change over time? There have to be well-defined rules for that.
4. How frequently will the index re-balancing take place?
5. You've included BCY which has a 24 hour trailing volume of just $8000. This might limit the price discovery if things go out of whack, and there is enough money invested in your index.
6. How frequently will the traders re-balance based on the index?
These are just some of the questions, by the way.