What’s ICONOMI and why you should get aboard while you still can
With more than USD 4.5 million raised in less than a month, and counting, ICONOMI is on the way to become one of the most successful ICOs (Initial Coin Offering) of the year. Overfunded, some might say ? Well, read on, and think again.
Everybody’s been talking about BitCoin, Ethereum, and the sweet returns on investment some early adopters and traders have been able to cash in. Free from government control, and political decisions, their decentralized characteristics make it quite an attractive asset to store value.
Since October 2015, the cryptocurrencies market cap has gone a long way from $4B to an astounding $12B.
Yet, a few obstacles still keep the average “real-life” investor from stepping in and investing some of their FIAT currencies into blockchain-backed currencies, tokens, and projects :
- They lack knowledge about the blockchain technology,
- The access to the cryptocurrencies exchange markets is pretty difficult for a non-techy person, and often seen as obscure,
- They don’t have a safe way to store those assets. Yet.
ICONOMI aims at creating the bridge between the FIAT and crypto worlds, for people who understand that blockchain is the future, but don’t want the hassle and the time-consumption of researching the crypto world, and its over 700 hundreds coins, in details.
They’re developing on the one hand, an offer of investment funds, in order to attract fresh FIAT currencies into the cryptocurrency world, and on the other hand, the first investment platform allowing anyone to become a fund manager, by picking their own trades, and finding investors, if successful.
This could pretty much mean an uberization of the financial industry, Ljubljana-based team says.
Two funds are currently under development :
- ICONOMI.INDEX fund, an index, just like the S&P500, FTSE, DAX or CAC, allowing investors to bet on the growth of the blockchain technology as a whole, through several coins, tokens and projects, therefore ventilating their risks into several assets,
- ICONOMI.PERFORMANCE fund, an invitation-only managed fund, which goal is to get the best possible ROI by investing into riskier, but more lucrative new projects and ICOs.
What’s the ICO about ?
The ICO aims at financing the development costs. It’s open to FIAT (EUR and USD) and crypto currencies(XBT, ETH, and LSK).
In exchange for their financing, the investors will receive ICNs, an ethereum-based token, representing ownership of the platform.
The platform will charge a fee to operate the funds, and the fees will be shared between the owners, that is, ICN holders, via an Ethereum smart contract, just like dividends.
On top of this, ICONOMI has announced so far :
- Debit cards, allowing 24/7 access to your assets (either those in the funds or the ICNs) via an ATM,
- Hardware devices with the possibility to print private keys for safety,
- Mobile apps for Android and iOS.
In order to avoid overfunding, every bitcoin raised above the 10,000 cap is to be invested in the ICONOMI.PERFORMANCE fund, which will consequently raise the value of each ICN, and make the first fund operative very soon.
Last but not least, ICNs will be tradable, enabling the possibility of selling them on an exchange and cash out anytime.