Paradigm
Paradigm
Oct 2 · 10 min read

Biweekly update 18th September — 2d October

The Foundation has decided to extend the testing period as core developers of the ICON Project continue to test software in a variety of ways to reach higher levels of stabilization. The decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019. The Foundation will maintain reward distributions until decentralization. Plus the Foundation delayed the implementation of the Slashing function, a penalty burning 6% of the delegated ICX of representatives, to one month post decentralization. This decision was made to allow for a one-month buffer period for P-Reps to gain experience operating in the early stages of decentralization. Finally, the reports covers the latest news of ICON P-Reps. Stay tuned!

Development

Github metrics
Developer activity (from Coinlib.io)

ICON P-Reps News

VELIC

VELIC has announced to provide the new personalized Digital Asset-Based Loan with flexible tools at the end of September.

VELIC launched its first Digital Asset-Based Loan service in June. Currently, users can borrow the Stable Coin Tether (USDT) as Bitcoin collateral and the interest rate is between 11% and 16% APR.

Unlike existing loans, the new loan product can be applied for up to 100,000 USDT depending on the contract amount, along with a low-interest rate starting from 2% APR. To offer the lowest interest rate in the industry, it allows users to customize a product in many different ways.

VELIC accepts Bitcoin (BTC) as collateral for the loans, which is available from 5,000USDT at a time. The maximum limit has also increased significantly to 100,000 USDT. It also eliminates the general liquidation function to effectively protect the borrowers collateral.

VELIC accepts Bitcoin (BTC) as collateral for the loans, which is available from 5,000USDT at a time. The maximum limit has also increased significantly to 100,000 USDT. It also eliminates the general liquidation function to effectively protect the borrowers collateral.

Introducing VELIC Crypto Loan X :

1. It provides the lowest interest rates as low as 2%.

2. Eliminates the general liquidation function with no margin calls.

3. Offers secured loans and instant trading at once, so the loans will be easily availed on the VELIC exchange.

Product Details :

Starting from 1,000 USDT

Max. 100,000 USDT

Account Limit 100,000 USDT

Interest rates from 2.00% up to 4.00% (paid with USDT)

Terms from 2 to 6 months

Starting LTV from 30% — 40%

Interest Prepayment(0.0%) or At Maturity(Additional 0.5%)

One-time Application Fee 5,000 VELT

Early Repayment Fee is Collateral Amount * 1.0%

*Currently VELIC supports OMNI USDT only. When you are sending and/or receiving, please make sure you are using OMNI wallet address as a destination.

How to get VELIC Crypto Loan?

  • Create VELIC exchange account and complete your KYC
  • Make a deposit, choosing from Bitcoin (BTC) and prepare 5,000 VELT one-time application fee (*VELT is VELIC’s platform token)

Please note that the loan-to-value (LTV) ratio ranges from 30% to 40%. Example: If you want to borrow $10,000 USDT with a LTV of 30%, you need to deposit 3.334 BTC ( e.g. Exchange rate of 1 BTC=10,000 USDT)

Ubik Capital

Ubik Capital has contributed to the ICON ecosystem in many different areas already:

1.Its DApp Breadcrmb was selected as a final winner in ICON’s Got Talent

2. Partnership with Aero Systems West (ASW)

3. Ubik Capital team has published over 20 articles full of original content

4. Ubik Capital team has participated in 3 ICON videos

5. Ubik Capital has successfully participated in and continue to participate in all official ICON TestNets

6. Ubik Capital has created a site for aiding in staking: provided information about staking, staking instructions, and FAQs.

7. Created a portal for both developers and non-developers to submit DApp ideas and work with the team to help bring these ideas to life at

https://goicx.com

8. Rewarding Loyalty (Longer Staking)

9. Community Engagement

10. New team members in Ubik Capital Team

ICX Station

One of ICX_Station’s first educational initiatives is @MLHacks LocalHost Program. They worked together to build an ICON focused dev workshop curriculum. Anybody can host a workshop, pre-register to have access to host an ICONProject dev workshop.

ICONation

Paradigm

Paradigm Fund has issued new reports on the following cryptonetworks:

POS Bakerz

POS Bakerz announced that now it is part of the initial set of Validator available in Trust Wallet.

From today, you can now stake your ATOM with us and start to earn rewards directly on your smartphone.

What is Trust Wallet?

Trust Wallet is a secure Ethereum and cryptocurrency wallet to store your favorite BEP2, ERC20, and ERC721 tokens on mobile in a simple and easy way.

Available on both Android and Apple, Trust has been the first company acquired by Binance and counts millions of users.

block42 Blockchain Company

Social encounters

The @mouse_belt Education Alliance adds ICON to its list of members. Read more on their initiative of building the future of blockchain education.

Finance

The number of transactions dynamics (information from tracker.icon.foundation)

1. Updating the decentralization schedule

The Foundation has decided to extend the testing period as core developers of the ICON Project continue to test software in a variety of ways to reach higher levels of stabilization. As you know, it is essential to release stabilized software so that P-Reps can operate the ICON Network after the decentralization process.

As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.

  • Original schedule: Start at 05:00 UTC on the 24th of September 2019
  • Updated schedule: Start at 05:00 UTC on the 29th of October 2019

2. Extension of Pre-Voting Period

The Pre-Voting period for the ICON Network will also extend to UTC 05:00 on October 29th, 2019. ICON Foundation will continue to give out the necessary ICX for the delegation rewards during this extended period.

  • Original schedule: 26th August 2019 UTC 05:00–24th September 2019 UTC 05:00
  • Updated schedule: 26th August 2019 UTC 05:00–29th October 2019 UTC 05:00

3. Slashing function will be available one-month post decentralization

The Slashing function, a penalty burning 6% of the delegated ICX of representatives, will be available one-month post decentralization. This decision was made to allow for a one-month buffer period for P-Reps to gain experience operating in the early stages of decentralization. This also prevents harm to ICONists during the early stages of the decentralization process where productivity history is limited.

However, other existing penalty systems will be available. For more information on the penalty system, please check the ICON Incentive Scoring System (IISS) paper.

Roadmap

IISS Updates

This month, the Foundation decided to extend the testing period for decentralization as core developers of the ICON Project continue to test software in a variety of ways to reach higher levels of stabilization. As a result, the decentralization schedule of the ICON Network was changed from September 24, 2019 to October 29, 2019. As previously announced, the Foundation will maintain reward distributions until decentralization.

Additionally, the Foundation delayed the implementation of the Slashing function, a penalty burning 6% of the delegated ICX of representatives, to one month post decentralization. This decision was made to allow for a one-month buffer period for P-Reps to gain experience operating in the early stages of decentralization.

Mobile Staking Update

ICON Foundation plans to launch mobile staking capabilities in tandem with decentralization in October. Originally, the goal was to launch mobile staking capabilities in September, but ICON team encountered several Java version issues in the development process. Unfortunately, the development schedule was too tight to resolve the issues and therefore it was decided to postpone the release to improve the stability.

ICON Development Roadmap Details

The following updates to ICON technology roadmap are below:

  • Block Version 0.3 — Improving block structure to support BTP (Stabilization)
  • Role Switch — Switching the role between Main P-Rep and Sub P-Rep (Stabilization)
  • Cryptography — Signature verifying function in SCORE (Completed)
  • Penalty function — Penalty system to penalize malicious P-Reps (Completed)
  • Virtual Step 2.1 — Virtual Step distribution to SCORE (Development)
  • Auto Sign — Ability to automatically sign transactions in ICONex, for a certain period of time (Completed)
Source
  • Interoperability with heterogeneous chains launch by the end of 2019
  • ICON interchain protocol BTP will be available by the end of 2019
  • The first ICONgress will be organized in 2019

Partnerships and team members

No updates

Rumors

No updates

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The charts above illustrate a decline in the number of Telegram and Twitter followers. In general, the ICON foundation experiences an average level of social activity.

The graph above shows the dynamics of changes in the number of ICON Reddit subscribers, Twitter followers, and Facebook likes. The information is taken from Coingecko.com.

Official channels of P-Reps:

VELIC

ubikcapital

ICONation

ICX Station

RHIZOME

ICONVIET

Insight ICON

POS Bakerz

block42 Blockchain Company

Blockchain@Berkeley

Gilga Capital

Chainode Capital


This is not financial advice.

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Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

Paradigm

Written by

Paradigm

In chaos lies the truth

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

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