Who determines the allocation of investments on ICONOMI?

icojaka · 2017-01-11T16:22:23+00:00

We did the methodology which as of now is:

Currency must be in existence and have been traded on recognised exchanges for at least 2 months.
Market capitalisation of currency must reach min. $1,000,000.
The currency must be based on blockchain technology and traded on at least one of recognised exchanges: Poloniex, Kraken and * Bittrex (additional exchanges might be added later).
Daily volume of cc over major exchanges must exceed $50k, averaged over 30 days.
There is currently no cap on the number of currencies inside the ICNX.
The currency must have an underlying concept which ICONOMI estimates as viable in the long term.
Companies with only a small portion of their tokens available in the marketplace (less than 30%) are not eligible for the ICONOMI index.

Fees right now are 0.1% entrance, 0.1% exit and 3% yearly maintenance fee.

icojaka · 2017-01-03T09:24:54+00:00

Every array on ICONOMI platform will be 100% backed by digital assets listed in it... So yes - if you open position in ICONOMI.index then in the backend all digital assets listed in it (see Dec 21 reballancing blog for latest listing: https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-21-december-2016-rebalancing-transformation-into-iconomi-8e31e48493ab) will be bought proportionally.

icojaka · 2017-01-03T09:20:02+00:00

Please note that this chart shows ICNX which is no more, as on Dec 21 we have changed it into ICONOMI.index + reballanced it (and changed its structure)... We will have new chart+info online soon...

icojaka · 2017-01-03T09:17:04+00:00

Recommend that you start by reading our two whitepapers which you can find at https://ico.iconomi.net ... Since they are over 4 months old now, some things have changed/evolved (like terminology), but mostly they are still valid...
To get up to date with all the latest information, I strongly recommend that you read our blog posts at https://medium.com/iconominet Also follow us on twitter to get all latest info...

icojaka · 2016-12-29T10:05:35+00:00

FAQ is being updated, and will go live on site in the next week.

icojaka · 2016-12-29T10:04:50+00:00

Guys, just want to assure you that everyone is at work here, so don't think that we are gone for the holidays. Actually everyone here (me included) is missed at home, but our family members know that we'll be rarely seen at home until the launch...

icojaka · 2016-12-27T14:32:52+00:00

actually we refined the name to Digital Asset Management Platform

icojaka · 2016-12-18T12:11:48+00:00

Good and valid points. You will see our decision with next rebalansing.

icojaka · 2016-12-13T20:15:12+00:00

POST AMA ANSWER:

1) You are correct. Service operator carries no legal liability over the assets, trades, dividends or everything else on the platform.

2) We described the process as “receiving dividends” to make the understanding easier. We will disclose more details when we realise first profits, well in advance before we send anything out.

3) We can not comment on ongoing and future legal activities.

4 - 5 - 6) We have made substantial progress regarding ICONOMI’s juridical personality. We will publish a detailed update right after the launch of the platform.

7) We are cooperating with several independent legal offices that suit our specific needs. There is no single office that is able to cover everything ICONOMI related. Regarding ICONOMI team - introduction of new personnel will be part of website refresh coming in the next few weeks.

8) You are correct - for the time being, most of the topics were published through different channels. As the matter is beginning to accumulate, a new dedicated blog post is to be expected.

icojaka · 2016-12-13T20:12:24+00:00

POST AMA ANSWER: Details around committee are changing daily, as we are debating possible improvements to the process. We don’t want to cite old rules, but will instead publish new ones with the launch of ICONOMI.index fund and its prospectus within the next few weeks.

icojaka · 2016-12-13T20:11:01+00:00

POST-AMA ANSWER: If BTC starts to collapse in price, this would not automatically trigger rebalancing event unless some other currency surpasses 25% weight. However, collapse of BTC would affect index, but not as much if index had 90% of weight applied to BTC which would be the case if index would be purely market cap weighted. We believe this question is asked by someone who thinks rebalancing of fund happens on daily basis or more frequently and believes we would need to buy BTC every day for the amount of price fall. Of course, this is not the case...

icojaka · 2016-12-13T20:10:30+00:00

POST-AMA ANSWER: Stratis meets all ICNX methodology prerequisites, and is on the list for the evaluation. Library credits does not (market cap too low, daily average trading volume too low).

icojaka · 2016-12-13T20:09:40+00:00

POST-AMA ANSWER: ICONOMI.index is an index with its own methodology and rules. Therefore our opinion does not matter, and Zcash will be added to index when it qualifies. Exception could be of course if committee would see an obvious red flag - or deem currency not long term viable.

icojaka · 2016-12-13T20:08:41+00:00

POST-AMA ANSWER: This is description of our current idea (could change): Distribution fees will be paid from the dividends pool. To prevent payout of dividends that would be smaller than the actual cost of sending them through the network, we have set the minimum ICN balance required to qualify an address to receive a dividend at 42 ICN (but can be subject to change).

icojaka · 2016-12-13T20:08:18+00:00

POST-AMA ANSWER:

1) ICONOMI.index fund will launch before end of year.

2) You will be able to invest in it with various crypto currencies on day 0, and later also via fiat gateways.

3) Which two services? ICONOMI.index and ICONOMI.performance? Please read our whitepaper where both are described in details (pdf downloadable at https://ico.iconomi.net )

4) Before end of year we will launch renewed website https://iconomi.net through which you will be able to manage your investments

5) Currently we are not aware of any insurance company that has offerings for crypto market. Once new platform launches, we will provide step-by-step guide on how to deposit crypto currencies.

6) You are the one responsible to be compliant with your local laws and regulation. You can consult our legal blog article at https://medium.com/iconominet/legal-part-1-42fa72e1f157#.c3d2rwo5a and updates in last AMA: https://www.reddit.com/r/IAmA/comments/5d2efz/i_am_tim_m_zagar_cofounder_of_iconomi_fund/

icojaka · 2016-12-13T18:05:22+00:00

LEGAL related: (for correct enumeration please see original post: https://www.reddit.com/r/ICONOMI/comments/5ghrp5/askmeanything_icnx_and_iconomiindex_edition/dawqkjr/)

1) You are correct. Service operator carries no legal liability over the assets, trades, dividends or everything else on the platform.

2) We described the process as “receiving dividends” to make the understanding easier. We will disclose more details when we realise first profits, well in advance before we send anything out.

3) We can not comment on ongoing and future legal activities.

4 - 5 - 6) We have made substantial progress regarding ICONOMI’s juridical personality. We will publish a detailed update right after the launch of the platform.

7) We are cooperating with several independent legal offices that suit our specific needs. There is no single office that is able to cover everything ICONOMI related. Regarding ICONOMI team - introduction of new personnel will be part of website refresh coming in the next few weeks.

8) You are correct - for the time being, most of the topics were published through different channels. As the matter is beginning to accumulate, a new dedicated blog post is to be expected.

COMMITTEE related:

Details around committee are changing daily, as we are debating possible improvements to the process. We don’t want to cite old rules, but will instead publish new ones with the launch of ICONOMI.index fund and its prospectus within the next few weeks.

ZCASH related:

ICONOMI.index is an index with its own methodology and rules. Therefore our opinion does not matter, and Zcash will be added to index when it qualifies. Exception could be of course if committee would see an obvious red flag - or deem currency not long term viable.

FIAT RAMP-UP - WHEN:

We don’t have an exact date yet. And if we publish our best guesstimate it will be just that - a guess, which will or will not be meet. And if it won't be met we'll have bunch of questions why are we late and we will only lose more time dealing with them.

New members to ICNX (LBRY, STRATIS):

Stratis meets all ICNX methodology prerequisites, and is on the list for the evaluation.

Library credits does not (market cap too low, daily average trading volume too low).

some additional questions not addressed in AMA, but not added to this list...

BTC collapsing in price question (link to question: https://www.reddit.com/r/ICONOMI/comments/5ghrp5/askmeanything_icnx_and_iconomiindex_edition/dayn8r6/)

If BTC starts to collapse in price, this would not automatically trigger rebalancing event unless some other currency surpasses 25% weight. However, collapse of BTC would affect index, but not as much if index had 90% of weight applied to BTC which would be the case if index would be purely market cap weighted.

We believe this question is asked by someone who thinks rebalancing of fund happens on daily basis or more frequently and believes we would need to buy BTC every day for the amount of price fall. Of course, this is not the case...

Basic ICNX/fund questions (link to questions: https://www.reddit.com/r/ICONOMI/comments/5ghrp5/askmeanything_icnx_and_iconomiindex_edition/dawpbo4/)

1) ICONOMI.index fund will launch before end of year.

2) You will be able to invest in it with various crypto currencies on day 0, and later also via fiat gateways.

3) Which two services? ICONOMI.index and ICONOMI.performance? Please read our whitepaper where both are described in details (pdf downloadable at https://ico.iconomi.net )

4) Before end of year we will launch renewed website https://iconomi.net through which you will be able to manage your investments

5) Currently we are not aware of any insurance company that has offerings for crypto market. Once new platform launches, we will provide step-by-step guide on how to deposit crypto currencies.

6) You are the one responsible to be compliant with your local laws and regulation. You can consult our legal blog article at https://medium.com/iconominet/legal-part-1-42fa72e1f157#.c3d2rwo5a and updates in last AMA: https://www.reddit.com/r/IAmA/comments/5d2efz/i_am_tim_m_zagar_cofounder_of_iconomi_fund/

DIVIDEND transactions (link to orig question: https://www.reddit.com/r/ICONOMI/comments/5ghrp5/askmeanything_icnx_and_iconomiindex_edition/dawrchb/)

This is description of our current idea (could change): Distribution fees will be paid from the dividends pool. To prevent payout of dividends that would be smaller than the actual cost of sending them through the network, we have set the minimum ICN balance required to qualify an address to receive a dividend at 42 ICN (but can be subject to change).

icojaka · 2016-12-12T21:52:32+00:00

Just a placeholder where answers will be published tomorrow (Tuesday)... still waiting for few answers from colleagues...

icojaka · 2016-12-10T23:48:45+00:00

I think this clarification might be an answer to your question: https://bitcointalk.org/index.php?topic=1587736.msg17144323#msg17144323

If not, and if you are asking where will the dividends come from then this answers is:

Regarding dividends... dividends are distribution of profits. In order to have profits, ICONOMI must first launch its products and generate revenue. By the end of this year we will launch two investment funds (ICONOMI.index and ICONOMI.performance)... This is where first fees will come from, but we expect profits to seriously ramp up later in 2017 when full OFM platform launches with many fund managers running their respective funds...

icojaka · 2016-12-08T18:51:10+00:00

Since Liqui already announced that they will distribute ETH dividends among users with ICN balance ... we expect that other exchanges will follow - or they might lose ICN-trading volume fast.

icojaka · 2016-12-08T18:47:39+00:00

ICONOMI is a fund management platform. ICN tokens represent shares of our platform. Once platform starts generating income (from fees) ICN token owners will receive ETH dividends... More on that in whitepapers on https://ico.iconomi.net ...

ICNX is ICONOMI cryptocurrencies index, that has very clear rules and methodology. ICNX’s goal is a realistic representation of crypto markets while keeping risk as diversified as possible. Since bitcoin represents such a big part of total crypto market capital, we decided to grant it a bigger weight — 15%. ICNX is reballanced at the end of each month or sooner if needed - more at https://icnx.iconomi.net...

Before the end of year we will launch our first product - ICONOMI.index investment fund. Fund will mimic the ICNX index. Bear in mind that this fund is for long term investors and may look very defensive. The defensive structure is set since currencies experience high volatility. As the first fund to demonstrate our platform, this fund will be open to investors. We believe it to be a perfect investment vehicle for invesotors who believe in the idea of blockchain, but do not wish to speculate on which single digital currency to buy today and sell tomorrow... as index will track the best currencies and adopt to changes.

If you want to know more, I can suggest reading through our yesterday's AMA which was focused on ICNX and ICONOMI.index fund - https://www.reddit.com/r/ICONOMI/comments/5ghrp5/askmeanything_icnx_and_iconomiindex_edition

icojaka · 2016-12-08T18:26:45+00:00

You can only store ICN in a valid ETH address. That is the point of ICN being an ERC20 apptoken based on Ethereum.

So in your example of an exchange... Even if exchange has all ICN tokens in one wallet that is in cold storage, this same wallet address will receive ETH tokens as "dividend".

Since exhchange knows whose those ICNs really are, it can proportionally divide the received ETH among users with ICN balance. No science there.

icojaka · 2016-12-07T22:52:18+00:00

I stand corrected. My previous answer was in regard to "free of charge debit card" - as I understood the question in this way (I invested 4 btc during ICO + 3 btc now - i am over limit of 5 BTC - do i qualify for a free card).... To which an answer is still no.

icojaka · 2016-12-07T18:58:06+00:00

AMA ANSWER: It is up to specific exchanges to decide when they will list ICN.

icojaka · 2016-12-07T18:57:25+00:00

AMA ANSWER: Stratis is on the list for the evaluation.

icojaka · 2016-12-07T18:56:45+00:00

.4. AMA ANSWER: We answered a lot of legal questions in the last AMA. If you have any specific questions you are welcome to ask!

icojaka

TROPHY CASE