Token share calculation

Jani Valjavec
Sep 12, 2016 · 2 min read

ICONOMI is collecting funds in 5 currencies: 3 cryptocurrencies (Bitcoin, Ether, Lisk) and 2 fiat currencies (EUR, USD).

85 million tokens will be distributed based on the amount of funds collected with bonuses. For token share calculation funds will be converted in USD.

In order to calculate your token share, the single rate (weighted average exchange rate of each currency) from the last 72 hours of our ICO will be used.

For the average exchange rate of cryptocurrencies, data from CoinMarketCap (it provides a real time view of the latest cryptocurrency market capitalisations) will be used. For EUR calculation we will use foreign exchange reference rates published here.

Token share calculation for cryptocurrency investment:

  1. The base currency or common denominator will be USD. Note that the choice of common denominator doesn’t affect the end result — it is used only for calculation purposes.
  2. Conversion exchange rates for cryptocurrencies will be calculated from data obtained on CoinMarketCap.
  3. The conversion exchange rate for each cryptocurrency will be calculated as the hourly weighted average for the last 72 hours before the conversion calculation date. This method is chosen in order to prevent the consequent market manipulation of exchange rates and token shares.

Formula for token share calculation for cryptocurrency investment

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where

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Token share calculation for fiat investments:

  1. Base currency or common denominator will be USD. Note that the choice of common denominator doesn’t affect the end result — it is used only for calculation purposes.
  2. The conversion exchange rate for EUR will be obtained from the European Central Bank, calculated as an average of the last 3 days.

Formula for token share calculation for fiat investment

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where

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In the case that a person has invested in cryptocurrency as well as in fiat currency, both methods are used and ICN token share is combined.

ICONOMI

Invest in leading cryptocurrencies with euros or let the…

Jani Valjavec

Written by

Developer, thinker, doer and predictor of the future. Always amazed by the new: New technologies, new places, new experiences.

ICONOMI

ICONOMI

Invest in leading cryptocurrencies with euros or let the experts choose for you.

Jani Valjavec

Written by

Developer, thinker, doer and predictor of the future. Always amazed by the new: New technologies, new places, new experiences.

ICONOMI

ICONOMI

Invest in leading cryptocurrencies with euros or let the experts choose for you.

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