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Author Topic: [ANN] IdeaFeX --- Marketplace for Tokenized Real-World Assets  (Read 2842 times)
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March 23, 2019, 06:37:19 PM
Last edit: July 28, 2019, 11:16:34 AM by IdeaFex_Support
 #1

Since we have decided to move away from cryptocurrency / ICO (while still supporting asset tokenization), we have decided to reduce our presence on BitcoinTalk. Please find more details here: https://medium.com/asset-tokenization/ideafex-adopts-new-logo-updates-social-media-plan-64b326963a31


What is IdeaFeX?
IdeaFeX is the marketplace for tokenized real-world goods & assets: We identify in our economy several sources of inefficiencies in resource allocation, namely inflexible flow of goods & assets, deep divide between financing & operations, and pervasion of "exclusivity". As a solution, we introduce tokenization of real-world goods & assets (that are currently indivisible and/or illiquid) in the forms of product futures & exotic assets. They allow for a range of business model innovations, new investment methods, and new consumption models.


How do we prevent scams?
Our marketplace is fully compliant with all pertinent asset trading, payment, and exchange regulations. This means all users, including fundraisers, pass KYC (Know Your Customer) background checks.


Why are we using blockchain? Is it really needed for a centralized platform?
With blockchain tokenization, we keep the separation between our marketplace and investments made against listed assets. The fundamental ownership and cash flow of these investments will be tenable independent of our marketplace, thus providing extra robustness. Moreover, it makes listing, trading, and exchange much more cost-effective. Therefore, even though blockchain is not necessary for a centralized platform, it makes the most important records of the investments decentralized.


Who can list an asset on IdeaFeX?
Anyone, individuals or companies, can use IdeaFeX to list tokenized assets, so long as they pass KYC (Know Your Customer) background checks and produces audit reports from qualified external parties or certified custodians.


Why do we collect your personal information, and how will we use it?
IdeaFeX is serving in a regulated industry and is required to comply with KYC (Know Your Customer) procedures that prevent terrorist financing, money laundering, and other criminal activities. We are committed to the protection of your personal information and will never sell or exploit your personal information, including usage preferences, for financing gains.


For more informatino, you can always find us on

Twitter https://twitter.com/ideafex_com
Facebook https://www.facebook.com/ideafex



We would love to hear your comments and questions on IdeaFex!

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March 24, 2019, 10:15:23 AM
Last edit: March 25, 2019, 06:06:17 AM by IdeaFex_Support
 #2

Are you going to do token sale? Huh
Sorry it is not clear from me from what you have posted.

Hello!

We are preparing our company to token sale. We hope everything will be arranged to start in May.
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March 25, 2019, 06:11:12 AM
Last edit: March 25, 2019, 06:22:09 AM by IdeaFex_Support
 #3

Another question in the FAQ:

What is a tokenized asset?
Strictly speaking, representing an asset as a token on a distributed ledger equates to creating a title of ownership that, instead of being a paper with a signature, is instantiated as a smart contract on a distributed ledger. In effect, the token is a contract between the holder and the custodian of the asset, and it needs to have legal ground to be enforced.

From the point of view of asset managers, a tokenized asset is a virtual object that acts as a share in an underlying physical asset. On IdeaFeX, these tokenized assets are always fulfillable, physically delivered or otherwise. One can also consider the token as an investment instrument that is backed by physical wealth. For example, a copper mine can be tokenized, and the resulting tokens are shares of ownership in the copper mine. In comparison, most currencies of the world today are not backed by physical ownership of any underlying physical asset. For example, one cannot exchange a euro or dollar for a fixed amount of gold as it used to be the case.

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March 25, 2019, 10:11:12 PM
 #4

How can I be sure you are not scam?
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March 26, 2019, 08:57:40 AM
Last edit: April 02, 2019, 09:46:57 AM by IdeaFex_Support
 #5

How can I be sure you are not scam?

Four points:

  • We're a legitimate company from France, not some islands.
  • Our team members listed on our website are real people.
  • We have already sent our Token White Paper to the regulatory authority. [Erratum]Our ICO will be whitelisted before it begins.
     We have just met with AMF (the French regulators) yesterday. It appears that the "whitelisting" option will only become available towards the end of 2019, due to the fact that the law (PACTE) which prescribes for this being delayed in the senate.[/Erratum]
  • Moreover, we'll release a demo before our ICO begins, and we plan to launch our marketplace later this year.

We know that 90% of the ICOs / STOs today are scams. The clue should be that those projects are very unlikely to be profitable at all by reading into their white papers.

In contrast, our project can be very profitable. We just want to source starting funds & build the user community at the same time using the ICO format.



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March 27, 2019, 02:25:28 PM
 #6

If we are a startup,How we can tokenize our assets?Are you going to tokenize them?Who will value them?What about jurisdictions?

Thanks for the question. Let's run them one by one:

Quote
How can we tokenize our assets?

For a startup, a range of assets can be tokenized: business assets (exotic asset), valuable goods (product future), and shares and bonds (traditional securities). The details can be somewhat different.

  • The most interesting is perhaps business assets. Suppose you're a startup that needs assets to run a business, perhaps in the form of a factory or a fleet of rental cars. Instead of obtaining a loan or equity-backed investment, you can tokenize these assets before they're purchased. Your custodian will ensure that the funds are not misused; and part of the cash flow generated by these assets will go to reward your investors.
  • Another interesting option is if you have a valuable goods, such as fine wine or deep tech products. You can tokenize them and allow buyers to purchase them before they are physically available. This shares many qualities of commodity futures.
  • With securities, it's simply an STO.


Quote
Are you going to tokenize them?

No. We're a marketplace, which you can consider an intermediary. You as the startup is ultimately tokenizing your assets.


Quote
Who will value them?

In short, the market will value them. We introduce a unique auction method. This allows optimal valuation. Details can be found in our White Paper.


Quote
What about jurisdictions?

Assets that are not securities can be purchased freely by investors. Assets that are securities, on the other hand, are somewhat more restrictive. As we are inside the EEA (European Economic Area), European passporting allows more freedom. However, the same cannot be said about e.g. USA. For this reason, we will have to roll out our global support gradually.

Please understand that we're launching a compliant marketplace. Our compliance work doesn't stop at running our own ICO --- we need to ensure that all assets types that we support on our marketplace are compliant to the groups of users that we open them to.
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March 27, 2019, 03:46:37 PM
 #7

The idea of the project seems to me new and promising , but I have a question , if the team does not raise money on their token sales , what will happen to the money of investors ?
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March 27, 2019, 03:55:23 PM
 #8

The idea of the project seems to me new and promising , but I have a question , if the team does not raise money on their token sales , what will happen to the money of investors ?

maybe they will refund all the investment that they collect during the token sales
when will the team share the info about the token sales?
like how many tokens that are sold during the ICO? How much the minimum and maximum money that they wanted to collect during the ICO?
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March 27, 2019, 09:46:05 PM
 #9

Where is your company registered?

Hi, the company is registered in France.
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March 27, 2019, 09:59:07 PM
 #10

The idea of the project seems to me new and promising , but I have a question , if the team does not raise money on their token sales , what will happen to the money of investors ?


Thanks for your question,

What do you mean by 'not raise money' and 'money of investors'? Is it the case where we don't raise much money?

Our marketplace will launch later this year. We will continue to sell our tokens on our own market once it launches.

It's important to distinguish us from some non-profit or open-source projects, where the business model is different. In those cases, a large community is necessary for the tokens to function, and the viability of the project depends on the functioning of the token.

In our case, the token is a way for us to build our community while raising funds at the same time, mostly for marketing. Only when we raise very little money (<1/4 million) will it be "not enough". We'll then raise funds from alternative sources. In any case, because we will continue to sell the tokens after we launch, we don't plan on returning investors' funds. Our token has very functions that, we believe, can help boost our marketplace after launch (while giving benefits to users continually). There's no plan to abandon it.
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March 27, 2019, 10:19:24 PM
 #11

The idea of the project seems to me new and promising , but I have a question , if the team does not raise money on their token sales , what will happen to the money of investors ?

maybe they will refund all the investment that they collect during the token sales
when will the team share the info about the token sales?
like how many tokens that are sold during the ICO? How much the minimum and maximum money that they wanted to collect during the ICO?

Hi,

Part of the information about the token sales is already available insider the Token White Paper, in the Token Supply and Issuance section.

Some recaps:

  • We'll put 40% of the tokens for the ICO.
  • Unsold tokens from the ICO will go for sale on our own marketplace one it launches.
  • They will be priced starting from 0.1 EUR. With 0.01 EUR increments after each 10% is sold. Thus, if all the tokens are sold in the ICO, the maximum amount will be 58 million EUR.
  • We don't have a soft cap. In our answer to the previous question, we addressed the case where very little money is raised in the initial token sale.

We have submitted our Token White Paper to the authorities for white-listing. Once we get their green light, we will announce the dates of our ICO.
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March 28, 2019, 03:27:09 AM
 #12

Where is your company registered?

Hi, the company is registered in France.

Do you have offcial registration address?


In the footer of our website is the address.

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March 28, 2019, 10:58:43 AM
 #13

The project looks promising but how can startups tokenize themselves and what are the token types you are going to support?


Thanks for your questions. Let's address the two one by one.


Quote
How can startups tokenize themselves?


Legally speaking, startups (and indeed other persons or organizations, including mature companies, that raise funds on IdeaFeX) are tokenizing their assets themselves. Nevertheless, it's not an effort for which the fundraiser is solely responsible:

  • For physical assets (e.g. exotic assets), an external custodian is usually required.
  • External audit may also be required, particularly when no custodian is involved.
  • We will help the fundraisers with the technical issues of tokenization and cash flow.

You see, while fundraisers are the ones ultimately issuing tokens, they aren't the only ones involved.


Quote
What are the token types?


We support three main token types: Exotic Assets, Product Futures, and Traditional Securities.

For an illustration, please see our one-pager (unfortunately, this account is new and we cannot post images for the moment): https://www.ideafex.com/docs/IdeaFeX_op_v1.pdf.

For further details, we encourage you to read our Token White Paper.
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March 28, 2019, 11:45:22 PM
 #14

You have a well-written whitepaper and a detailed technical discussion about your token utility value.
One way to present that you have a well-thought-out project.
However, owed to the reputation of most failed ICO projects, it is very hard now to raise funds via this method.
Is there another option for you to acquire funds other than holding your ICO?
 

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March 29, 2019, 07:27:49 AM
 #15

What are you going to tokenize on your platform?


Hi,

We're open to several general classes of assets. They're referred to as Exotic Assets, Product Futures, and Traditional Securities.

In our Token White Paper, you can see that we currently identify the following assets:

  • Exotic Assets: Collectibles, Business Assets, Infrastructure, Real Estate
  • Product Futures: Inventory, Valuable Goods
  • Traditional Securities: Shares, Bonds

For more details, please refer to the Features Deep Dive section of the white paper.
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March 29, 2019, 07:35:16 AM
 #16

You have a well-written whitepaper and a detailed technical discussion about your token utility value.
One way to present that you have a well-thought-out project.
However, owed to the reputation of most failed ICO projects, it is very hard now to raise funds via this method.
Is there another option for you to acquire funds other than holding your ICO?
 


Thanks for you comment.

Yes, alternative financing options are available. However, we must acknowledge that another (side) effect of "the reputation of most failed ICO projects" is that it is also harder than before to raise funds without pursuing an ICO if you are working on blockchain-related projects.

At the same time, while an ICO is much more difficult to organize than before and the results are much more lackluster, we can circulate a token (IdeaFeX Token, IFX in this case) that can bring some additional features to our service. We think that this token can help us drive volume and thereby activity on our platform after launch.

With these in mind, we plan on holding our ICO right when we have a demo launched.
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March 29, 2019, 07:42:49 AM
 #17

What kind of auction method you are going to use?


Hi,

It's essentially an evolution of Dutch Auction and more specifically what's called OpenIPO (the best known example of which is Google's IPO).

The most important modification is that, like bidding on eBay, the investor can now increase his/her bid.

For more details, I encourage you to read the Features Deep Dive section of the Token White Paper.

Thanks
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April 01, 2019, 09:37:57 AM
 #18

Hello, when have your company was founded?


Hi,

We started working on this project in January 2018, though we only registered the company this year in France. This is because before we generate income or receive external funding registration is not essential.
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April 01, 2019, 09:45:40 AM
 #19


hi, will we get any rewards for holding tokens?

Hi,

No ==> IFX is a "utility" token. There is no "use" in just holding it. Instead, a holder can:

  • Use IFX to pay fees on the IdeaFeX marketplace and receive discounts in fees;
  • Stake IFX when you list an asset and boost your search ranking;
  • Refer others to actively use the IdeaFeX marketplace and IFX, and receive referral awards; and
  • Accept IFX when you list an asset and receive further discounts in fees.


At IdeaFeX, we are building a legitimate marketplace for real-world assets. Tokens are designed specifically to encourage usage. IFX is not a payment instrument or "money". There's no "interest" or "APR" for holding.

Nevertheless, in order to give token holders the confidence, we have a "Token Burn" feature to gradually reduce the total supply. To know more, please read our Token White Paper (section The IdeaFeX Token --- Token Features) carefully: https://www.ideafex.com/docs/IdeaFeX_twp_v1.1.pdf
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April 01, 2019, 09:23:32 PM
 #20

What are you going to tokenize on your platform?


Hi,

We're open to several general classes of assets. They're referred to as Exotic Assets, Product Futures, and Traditional Securities.

In our Token White Paper, you can see that we currently identify the following assets:

  • Exotic Assets: Collectibles, Business Assets, Infrastructure, Real Estate
  • Product Futures: Inventory, Valuable Goods
  • Traditional Securities: Shares, Bonds

For more details, please refer to the Features Deep Dive section of the white paper.
Excuse me-I do not quite understand.How are you going to place assets-for example, the same securities ?
Or collectibles?Are you going to keep them or what do you imagine?Do you have secure vaults?
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