What is Iconomi Coin (ICN)?
ICN Coin Price
What Is Iconomi | A Quick Overview
Iconomi is a digital asset managment platform that allows users to have 24/7 liquidity, invest in/manage various digital assets, and utilize combinations called Digital Asset Arrays (DAA).
They enable users to use four generations of digital assets starting at Bitcoin and moving all the way through digital asset arrays.
The History of ICN Coin
Iconomi launched an ICO which took place from August 25th, 2016 to September 29, 2016.
They then began the process of acquiring coins and starting their repayment program.
In August of 2017, they attained their first partnership with Colombus Capital as an Asset Management partner.
They have been slowly adding more and more coins to Iconomi since then and launched five new ones at the beginning of 2018.
Updates From Iconomi
While they don’t have a released public roadmap, they do provide transparency in their quarterly financial reports and monthly updates.
The Iconomi Coin Team
Tim M. Zugar - Co-Founder and CEO - Linkedin
Previously CEO of Cashilia a Bitcoin, Payment processor
Jani Valjavec - Co-Founder - Linkedin
Previously worked with Tim Zugar on Cashilia before Iconomi
Matej Tomazin - COO - Linkedin
I consider myself as organized, deadline-oriented professional who loves to play/work in the field of behavioral psychology, marketing, and finance. I am multipotentialite (from Linkedin).
Mida Vidmar - CTO - Linkedin
Previously Director of Development at Halcom D.D. which provided software primarily for banks and clearing houses.
The Purpose of Iconomi Cryptocurrency
Iconomi was created to bring digital asset management platforms onto the blockchain utilizing Ethereum based smart contracts.
Thus, ICN coin is an ERC-20 token.
On Iconomi anyone can manage their digital assets, start a DAA (digital assets array) and create combinations of supported coins to achieve investment stability or aim for aggressive gains.
DAA managers can create and try out their winning digital asset management strategies which are then shared with the community.
Once signed up, Iconomi users have the immediate ability for 24/7 liquidity, security, and transparency through smart contracts.
The Features of Iconomi Coin
A Simple and Easy Sign-up With 24/7 Liquidity
On Iconomi all a user has to do is sign-up, deposit digital assets, and then they can start a DAA.
The bonus is that there are quick withdrawals and no coin lock-ins.
Meaning that you still control your money even though it is being stored and managed on their platform.
Security and Transparency
While we can’t say for sure how sound their security is, they claim to have multi-sig, permanently stored, cold storage based wallets.
With all exchanges being executed on smart contracts in the markets without hidden fees or costs.
Like always, we still recommend holding coins on a Ledger Nano S, but you are unable too when utilizing their services (granted you can hold their coin on a Ledger).
DAA (Digital Assets Arrays)
This is the foundation of Iconomi.
They have various asset arrays which allow a user of the platform to utilize the asset array that a DAA manager has been using with success.
That way users can hold a group of diversified coins for a certain objective, following in an experts footsteps.
- Simple Purchases
- Low fees and an easy sign-up
- Lower Risk (because of the diversification)
4 Generations of Tokens
While they don’t allow all tokens yet, they pride themselves on being able to offer four generations of tokens.
Bitcoin was the 1st generation, then came Ethereum and many other alt-coins as the 2nd generation, whereas the 3rd generation is categorized by application tokens.
Lastly, they claim the DAA is the 4th generation being a conglomerate of many tokens that can work together to help the user reach their goals.
What Are The ICN Coins Used For?
ICN coins represent the company and the success it is having.
They are bought back and burned as time continues in order to help those investors holding ICN coins make a profit.
Otherwise, they are used for DAA mangers to pay for certain actions like opening a fund and possible raising fund limits, etc…
As well as, a way to hold profits of platform as they use these profits to buy them back making the coin deflationary.
A Macroeconomic Look At ICN Coin
On a large scale, people are not going to want to manage their digital assets themselves.
That's the fact of the matter.
While we want people to take control of their money, their wealth and investments, it is going to be a tedious process whereby people give control to someone else until they understand the importance of holding their own wealth.
Luckily, Iconomi runs on the Ethereum network with smart contracts and good security, making it a better option for those looking for asset management.
Their fund has currently outpaced the market, having profitability even during lows.
This is something that could work out great over time as a platform, but their coin seems to not serve any major purpose, but instead become a vehicle to just increase hodling on their platform.
What We Think of Iconomi
Iconomi is an interesting take on digital asset management.
We currently do not hold any ICN, and are unlikely to in the future based on the purpose of holding the coin.
Although, we will watch this platform as the platform itself seems to be the valuable entity...
For those looking for an easy way to get their crypto assets managed, this may be a good solution.
If you liked this review and want to help support the academy donate some ICN below!
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