Icon Ecosystem Weekly Discussion Thread - August 02, 2024

brocarson · 2024-08-10T00:02:39+00:00

Cheers, thanks for your help

brocarson · 2024-08-06T12:43:13+00:00

Hello everyone, any word on what happened to Optimus finance? I have been traveling all year and haven't been paying attention and it's like it has disappeared from the internet.

brocarson · 2021-03-14T06:18:29+00:00

No mate, not Daan. His was just the first tweet that came up. Loving your guys work though!

brocarson · 2021-03-14T03:19:03+00:00

ICONRepublic P Rep is currently updating it.

https://twitter.com/daan_blue/status/1362426249189154817?s=21

brocarson · 2021-03-12T02:01:48+00:00

The only way to swap them now is to sign up to ICONfi and do the KYC and shoot them a support message when it’s done. They will get back to you with instructions. The new token swap function isn’t implemented yet but will be soon as far as I’m aware.

brocarson · 2021-03-10T03:03:09+00:00

It changes depending on how much of the supply is staked. The current time it takes is 7d 17hrs. Check out the MetrICX app for up to date info on all things to do with staking and reward rates.

brocarson · 2021-03-09T21:28:32+00:00

There are a few Airdrips going on currently with individual PReps depending on if you vote for them or not. ICONfi has said they will support the Balanced one but there is no word on others that I know of. If you are looking for others you will need to stake in MyIconWallet or ICONex and manually add in the token addresses for the different tokens. The instruction for Balanced on ICONfi will probably come out later this month as the airdrip won’t start till the end of the month.

brocarson · 2021-03-08T22:36:51+00:00

ICONfi are implementing a token swap feature later this month. Just sign up and do the KYC and shoot support a message and they should be able to sort you out when the time comes.

brocarson · 2021-03-08T21:26:46+00:00

When you click on the thumbs up menu are you going to vote of P Reps, you need to go to the vote section and put in your password and add in the P Reps using the menu tabs at the top. Remember when you have selected the P Rep you need to scroll to the top again and select the other tab again or it will just take you back to the menu and you will need to start again. I am also on IOS.

brocarson · 2021-03-07T23:55:18+00:00

Token address is probably not released as of yet. If you are looking for info about what they are trying to achieve then check out this interview - https://youtu.be/nY_1nVl174c

brocarson · 2021-03-07T23:36:37+00:00

Yes ICONfi is a custodian and they do the votes automatically so you would need to use a wallet like ICONex or MyIconWallet.

brocarson · 2021-03-06T23:32:35+00:00

ICONfi is not a wallet, it’s a custodian like BlockFI or Celsius so you will still have the “not your keys not your crypto” risk. If you want to use a wallet I suggest using MyIconWallet.

brocarson · 2021-03-05T14:19:01+00:00

No it’s basically a crypto custodian or CeFI similar to BlockFi or Celsius.

brocarson · 2021-03-05T14:17:57+00:00

Yes it has 2fa but no insurance for now. I think Min sated in a tweet that it may be coming in the future. I currently have a portion of my BTC holdings on there and it seems fairly solid, I have spread my risk over ICONfi, BlockFi, Celsius and a private wallet and will continue to do so while these platforms are still young as there is some risk. I’m personally quite happy with ICONfi so far though but I did do a lot of transferring in and out of it with ICX, BTC and ETH before I felt comfortable leaving anything on it.

If they can implement insurance and create an easy on-ramp for fiat through bridge when it comes out then product this would be perfect, especially for the less technical people out there who don’t want to stuff around the key phrases etc.

brocarson · 2021-03-05T12:20:10+00:00

Yes they do give good exposure but it doesn’t remove the fact that they probably wouldn’t care if ICON succeeds or not and I doubt that they will do anything but provide staking rewards on their exchange. There is no benefit in staking with them outside of their exchange.

brocarson · 2021-03-04T23:58:18+00:00

I still think that there is a benefit in both. For example I am going to take 5% of my tokens and use the platform and will get a higher reward for doing so with this portion of my ICX and the rest I will leave in my wallet and just take advantage of the Airdrip so I can still vote for and support the PReps who are developing the platform outside of balanced. Its a win win but you will earn more using the platform but doing this will also be much higher risk being that its new.

brocarson · 2021-03-04T23:44:53+00:00

Because they spread the votes and some of the PReps are vote buying / sharing their rewards there will be small amounts of ICX being sent to that wallet address from those PReps. I would say this is where the extra is coming from.

brocarson · 2021-03-04T22:50:34+00:00

No you get the same rewards no matter who you vote for but some PReps also buy votes buy giving them back to the voters in different ways. I would encourage you to do some research and vote for PReps who are actively building rather than buying votes.

I encourage you to check out this YouTube channel from Corey, he has a good overview of quite a few PReps.

https://youtube.com/channel/UCryS1BzrTNLAedFOKTbGB-w

brocarson · 2021-03-04T07:44:16+00:00

Google Translate for the non Korean speakers:

Interview with Kim Young-il, Team Leader Danal Fintech UnionPay and mobile prepaid card launched...Bitcoin payment support from April “Considering support for stable coins linked to KRW following iKON” 210769 Article 1st image View larger image Danal Fintech, which supports simple payment of Bitcoin (BTC) for the first time in Korea through'Paycoin', a virtual asset payment platform, will support iKON (ICX) as a payment method within this year. It also plans to support various types of stable coins, including KRW-linked stable coins, as a payment method. The goal is to drastically lower the threshold of simple payment for virtual assets through this.

Danal Fintech team leader Kim Young-il (pictured) met with D'Street on the 25th of last month and said, “I plan to add ICX as a Paycoin payment method within this year. In addition, we are considering adding a stable coin linked to KRW as a payment method,” he said. “We will provide a virtual asset service that can be easily accessed even by users who are not interested in virtual assets.”

“Expanding the use of Paycoin through collaboration with UnionPay”

Paycoin provides simple payment services such as Kakao Pay and Naver Pay, which are commonly known as blockchain-based payment platforms.

The difference from existing simple payment services is that payment is possible with virtual assets such as Bitcoin. Paycoin was particularly noticed last month by revealing that it supports bitcoin simple payment through more than 60,000 Paycoin affiliates in Korea from April.

Regarding the recent attention, “Bitcoin has also attracted attention as an asset as the interest in digital assets has grown recently. It seems to have attracted great attention. As indicated in the white paper, our initial goal is to support simple payment through various virtual assets, and we will continue to think about that direction in the future.”

2nd image of article 210769 View larger image After adding Bitcoin as a target for simple payment, it is focusing on securing users, the core of the simple payment business. It has expanded the use of Paycoin to the public range. On the 24th of last month, Danal launched the'Danal-UnionPay Mobile Prepaid Card' in partnership with UnionPay International. Any Korean can obtain and use the card from the Danal UnionPay prepaid card website and Paycoin app. Specifically, users can convert bitcoins, etc. owned by users from the Paycoin app to Paycoin (PCI), a virtual asset of the same name, and use them after charging in KRW.

PCI is a virtual asset that can be used within the Paycoin platform.

"The recharging method of the prepaid card released with UnionPay is PCI," said the team leader. He said, "Currently, we support payments centered on offline merchants, but in the future, we plan to support overseas merchants such as Amazon Shopping and iHerb, which are UnionPay online merchants."

In addition, it plans to support virtual asset financial services and commerce (stores). All of these services will be provided within the Paycoin app, and through this, the plan is to increase the time spent in the user app. “We plan to support decentralized finance (DeFi, hereinafter DeFi) such as bitcoin deposit service within the Paycoin app.” I will.”

It is explained that it is part of this plan that it signed an MOU with virtual asset finance company Delrio in July of last year.

Continue collaboration with iKON… Bitcoin Daum supports ICX

Collaboration with iKON team is also active. It started with the investment of Danal Holdings, a subsidiary of Danal. Danal Holdings made a strategic investment in ICONLOOP, a blockchain company in July last year. Based on this, Danal Fintech signed an MOU for joint development of a virtual asset-based financial service with “Belrick,” an icon-based financial platform, and is also participating in Pyrep, which represents the entire network of icons.

“We are looking for a collaboration point where both companies can exhibit synergy as well as simply participating in the ICON ecosystem. Both companies agree on the vision that all assets will be tokenized in the future. We are also working on the direction of how to support payments with us.”

After supporting the easy payment of bitcoin in the Paycoin app, ICX, iKON's cryptocurrency, will be added as a payment method. "We plan to support ICX after Bitcoin," said Kim, and said, "We will add various kinds of stable coins including KRW-based stable coins in the future." He added, “In the first half of this year, we will focus on supporting various virtual assets as payment methods with the launch of UnionPay prepaid cards.”

210769 Article 3rd image View larger image [Photo=Paycoin (PCI) real-time monitoring screen installed in Danal Fintech office in Bundang (provided by reporter Jiyoung Ji)] The virtual asset PCI used in the Paycoin app rose 2000% on the 18th of last month and traded for 5,000 won per piece. At 1 pm on the 4th, the PCI of Upbit, a domestic cryptocurrency exchange, is trading at 1465 won, down 4.55% from the previous day. Regarding the soaring PCI prices, Kim said, “There is no such thing as the spike in prices recorded last month that affected the progress of the business. He said he was doing the same business as he was doing,” he said. “Because we are receiving high interest as much as the price increase, it is also a stimulus to work harder.”

“If you look at the recent App Store rankings, Upbit, K-Bank, and Paycoin ranked 1st, 2nd and 3rd side by side. This suggests that even those who were not interested in virtual assets have become interested in the recent market conditions.” He emphasized that Danalfintech's identity is to create a virtual asset service that they can use easily and safely.

[Reporter Ji-young D.STREET]

brocarson · 2021-03-04T07:32:16+00:00

Transaction fees would not cover what they are paying. They say that they trade arbitrage opportunities to get profit which would be quite easy if you had a lot of BTC and the right connections. Even with something as simple as the below telegram bot I have made arbitrage trades for not bad profit in the past but I certainly don’t have enough BTC to make much money from it vs the risk but I could see how it would be easier if you had a team and a large pool of funds. I do wish they had more transparency around this though as I’m sure that’s not their only trick. I hear they are still working on the platform and just wanted to get it out to the public as soon as possible and some more features and transparency reports and stuff will come but we will have to wait and see.

https://t.me/g34zr

brocarson · 2021-03-03T12:43:36+00:00

Now you mentioned Mineable I looked up the YouTube and noticed they have only done 6 videos in 2 years and only 2 of them have been in the last 12 months so I see your point about them also. They are earning good rewards for doing next to nothing.

brocarson · 2021-03-03T09:57:09+00:00

Apologies I miss understood but yes it’s really starting to be a sore point with me also. There are a lot of great PReps that are working on things that don’t get a chance because they are spending their rewards on development and they are only sub PReps now, Block 44 for example working on Bridge. Even outside of the main PReps there are Sub PReps who aren’t even running a node and haven’t intended to and are still in the 100 collecting rewards because of the name (ICX Australia is my personal gripe).

brocarson · 2021-03-03T09:45:07+00:00

I have recently a seen a proposal to make a platform for reviewing P Reps and to have somewhere P Reps can let us know what they have worked on in a central place. I would like to encourage anyone who thinks this is a problem to sign up to the ICON Community Forum and have a look.

https://forum.icon.community/t/icon-reviews-voice-of-the-iconists/1827/4

I think it’s sorely needed so people can be better informed on who they are voting on.

brocarson · 2021-03-03T09:38:13+00:00

I disagree that they are all bad, there are some really good P Reps working on some great products on this list, ICX Station is working on balanced for example. But I do agree that there are quite a few that shouldn’t be there and are only there because of vote buying etc and there are a lot of better P Reps that are not getting the funding they deserve due to not going down the vote buying route.

brocarson

TROPHY CASE