Q3 was a paramount quarter for ICONOMI — we delivered on major goals we set out in our whitepaper just over a year ago. In August, we opened the platform to the public, introduced the first DAA manager, Columbus Capital, and started the process of selecting the first 12 independent DAA managers; we upgraded our proprietary trading engine, enhancing our best execution algorithm, and attended many blockchain, fintech, and investment events. The book value of ICONOMI at the end of Q3 2017 reached $119,787,279, which represents an approximate increase of 10.3% in the quarter, and the number of users has risen to 28,268, which is more than a 700% increase in comparison to the previous quarter.
The blockchain field itself was very dynamic in this time period — we witnessed a Bitcoin fork, the Chinese ICO ban, and a significant rise in ICOs, which was one of the founding propositions of ICONOMI. Just as our vision of the future proved correct, we will continue to stand by the goals we set out at the beginning of ICONOMI’s journey.
The revenues made in Q3 amount to $57,177. These revenues consist of:
· BLX DAA entry/exit and management fees: $49,864
· CCP DAA profit fee: $0
· Withdrawal fees: $7,313
Expenditures in Q3 2017 totalled $742,314. This includes salaries for 34 employees. In addition to this, we have 4 external associates and other partners. There are also legal, marketing, rent, equipment, and travel expenses.
In Q3 we continued our repayment program by buying and burning 112,035 ICN tokens using 668 ETH. The total amount of ICN tokens outstanding at the end of the quarter is thus 99,788,660.
In Q4 we are continuing with our repayment program using revenues generated in Q3, which amounted to $57,177 or 196.3 ETH. The token burn smart contract can be viewed here.
Note: Do not send tokens to this address. Tokens sent to this address are permanently locked in the smart contract and cannot be recovered.
BLX and CCP
In Q3 we appointed Columbus Capital, led by Igor Erker and ICONOMI co-founder Jani Valjavec, as the DAA manager for BLX and CCP.
On September 30, the AUM for BLX was $8,162,664.338 (a 174% increase in comparison to the previous quarter), with 5,231,725.437 tokens outstanding, each worth $1.56.
On September 30, the AUM for CCP was $50,247,811 (a 12% increase compared to Q2). During the quarter, CCP participated in several token sales and invested 11,350 ETH into Maecenis, Propy, Musiconomi, Decentraland, District0x, and DA Power Play.