ICONOMI Announces World’s First Digital Assets Repayment Programme

ICONOMI, the world’s leading digital asset management platform, has introduced an industry first repayment program that will increase the stake every participant has in the company. ICONOMI’s repayment programme will include a unique mechanic; the tech company will purchase ICN tokens from exchanges using returns made by its actively managed performance array, and destroy (“burn”) […]

ICONOMI, the world’s leading digital asset management platform, has introduced an industry first repayment program that will increase the stake every participant has in the company. ICONOMI’s repayment programme will include a unique mechanic; the tech company will purchase ICN tokens from exchanges using returns made by its actively managed performance array, and destroy (“burn”) them on a weekly basis, giving each participant a larger percentage share of the total ICN token amount. The ICONOMI team, whose performance array is already showcasing lucrative returns after strong investments in successful ICOs like Golem, Santiment and Byteball, will start the repayment programme on June 30. All token purchases and prices will be made publicly available in a quarterly report.

ICONOMI Co-founder Tim Zagar said, “We are proposing a new way to distribute shared value to participants through a repayment programme designed to increase the stake of each ICONOMI contributor. Our performance array is becoming exceedingly effective and it’s clearer now more than ever that cryptocurrency returns are the fastest of any asset class on Earth. For these reasons, we decided to reduce the ICN token count and increase participants’ stake.”

The repayment programme will follow a strict set of rules, today published on the company blog, but the primary financial function is that up to 1000 ETH will be used from April 1st to June 30th to acquire ICN tokens at a fair market price, and then remove them from circulation by sending them to an inaccessible, untouchable smart contract.

“Reducing the circulation creates value in scarcity, and it’s a great way to reward our investors for their continued support. This will not change the way current ICN token holders can buy or sell on any exchange. The proposal in its simplest form is a new way of rewarding holders of a new asset class, the ICN token. We will put this proposal to the community and we will await their feedback,” Zagar said.

The ICONOMI.performance Digital Asset Array (DAA) was launched in November last year with the sole premise to see returns from ICOs expected to gain market momentum. Its success has been phenomenal, and as a result, the ICN token has doubled in just four months from $16 million USD to $32 million USD. ICONOMI, which conducted one of the largest crowd raises in history, has created a unique digital asset management platform that provides a simple way for investors to maximise participation and returns in the decentralized economy.

“We are extremely excited to finally bring our proof of concept to life. We are the first company in crypto to do this, but I promise you we won’t be the last,” Zagar concluded.

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<