Hello and welcome to a new age in crypto, over the last several months we have seen some shifts in the market and some companies faced insolvency issues. Today we will dig deep and explain some of our end goals to our community, so let’s begin.
The recent shocks to the industry brought discussions with it. Solvency is the issue right now, with entities such as Celsius or Voyager, there are also other companies with bankruptcy rumors. As IKONIC we think that some of these parties were simply thinking that the bull market was going to last forever. Massive leverages with increased risk brought down some of the biggest firms in the crypto industry. How can they be so irresponsible and did this happen before?
Of course, it happened before in crypto and in traditional markets, we have seen the likes of these. The most recent one was Archegos in 2021. I am sure most of you will remember Lehman Brothers in 2008, and a quick Google search will also show you the Long Term Capital Management blunder in ’98. These companies were all vulnerable at the core, therefore at IKONIC, we believe in transparency and safety before everything else.
First and foremost you can view our smart contract audit results here. Not to brag but we got 10/10 in our security audit and this is one of our most important aspects at IKONIC.
You might have noticed that we have partnered with many companies and one of our most important partnerships is with Lossless through this partnership IKONIC will have,
Lossless protocol is based on 3 pillars,
Urgent Freezing
Lossless API allows hack-spotting bots to detect and freeze fraudulent transactions, securing rewards for the bot’s creator.
Fraud Analysis
The Lossless Decision-Making Body views frozen transactions assesses suspected fraudulent behavior and makes a decision to freeze the recipient’s address permanently.
Reversing Stolen Funds
The Decision-Making Body enacts a proposal for transaction reversal, and the code reverts stolen funds back to the owner’s address.
IKONIC NFT platform will launch with,
- Enhanced DDOS attack protection for our servers, traffic, and databases
IPFS storage for all NFTs - Smart Contract execution with signed transactions only
Thoroughly tested and vetted UI and back-end platform - Audited smart contracts
- Redundant deployment to multiple Cloud Services including some with the most cutting edge technologies to provide failover and high availability in cases of censorship by states or partner enterprises
A healthy and well-functioning financing market is essential to the expansion and sustainability of any economy. We believe well-designed risk management programs will help usher in new waves of capital and fuel the next expansion. At IKONIC we are aiming to be as secure as possible with minimal hassle for our users.
