ICONOMI Raises Over $8.9 Million in their ICO
ICONOMI, a cryptocurrency investment platform, just raised over $8.9 Million in their crowdsale.
ICONOMI states that they are the investment company for the new economy. Unlike the many established investment firms, they promote financial independence and encourage users to actively choose their investments as well as the specific currency they’d like to invest in. By doing so, ICONOMI aims to empower their clients and disrupt the current system.
Their ICO, which managed to raise over $8.9 dollars in five short weeks, promises that those who crowdfund the ICONOMI project will be rewarded as token holders.
Like all cryptocurrency investment platforms, users must always keep track of their investments which at times, can prove difficult due to the volatility and the ever evolving nature of virtual currencies. To overcome this issue, ICONOMI is promising to aid interested investors by “simplifying the process of investing into cryptocurrencies,” especially for those who aren’t as crypto-savvy.
ICONOMI is a tokenized investment platform with two categories: The open-source investment category and the “guidance-from-an-expert- investment-advisor” category. As opposed to directly investing in the cryptocurrencies of an investor’s choice, they use Ethereum app tokens for their investment funds. These ICONOMI tokens are used to complete transactions within the platform.
ICONOMI presented their tokens at Devcon2 in Shanghai:
ICONOMI.INDEX is an index investment fund comprised of cryptocurrencies that minimizes volatility, while ICONOMI.PERFORMANCE is an actively managed fund that targets higher yields.
The ICONOMI Cryptocurrencies Index (ICNX) is currently available for review. Both funds will launch in Q4 2016.
Additional trader-created custom funds will be available in 2017.
ICONOMI promises that once their company is listed on exchanges, “ICONOMI users will be able to cash out their investments into another cryptocurrency outside of the ICONOMI platform.”
But how will it work?
ICONOMI has two different platforms. The ICONOMI Investment Funds and the ICONOMI Open Fund Management (OFM) Platform.
ICONOMI INVESTMENT FUNDS will be crypto investment funds developed and managed by the ICONOMI team of experts. Starting with one of each fundamental type, ICONOMI will offer the ICONOMI.INDEX and ICONOMI.PERFORMANCE investment funds (for details please see the Whitepaper on App Token Funds). After the ICONOMI OPEN FUND MANAGEMENT (OFM) PLATFORM has been developed, ICONOMI investment funds will be migrated to the OFM platform, where they will coexist with investment funds of other investment managers.
ICONOMI OPEN FUND MANAGEMENT (OFM) PLATFORM is the final stage of ICONOMI. The OFM platform will enable everyone to introduce and manage their own crypto investment funds and attract investors who share the same investing philosophy. While the OFM platform will be open to everyone, the integrity of the platform will be safeguarded by ICONOMI with a comprehensive system of checks & balances.
They’re also introducing two different types of funds into their system. The Coin Traded Fund (CTF) and the Coin Managed Fund (CMF):
CTFs will be managed automatically based on predetermined rules and will be inherently transparent. Their behavior will respond to market developments, making the individual coin percentages in the funds dependent on preordained rules and changes on the market. Our analytical services will constantly monitor several market parameters, continuously analyse available market data, build detailed market forecasts and adapt investment funds as needed, within preset limits. The first CTF fund by ICONOMI will be the ICONOMI.INDEX fund.
CMF’s will be actively managed by a team of experts - financial analysts, mathematicians and cryptocurrency community professionals. Veterans of their respective fields, with decades of experience and successful projects behind them, they will help hone the ICONOMI spear for attack on the markets, making the ICONOMI CMF funds one of the most profitable financial instruments. With possibility of return on investment multiplication, CMF funds will represent our highest risk investment opportunities. The first CMF fund by ICONOMI will be the ICONOMI.PERFORMANCE fund.
One thing ICONOMI is certainly ahead of the curve with, in regard to cryptocurrency trading platforms, is building a legal team. With so many gray areas within the field of cryptocurrencies, adhering to legal regulations and building a foundation around the law will denote the company’s success as a whole.
Head to ICONOMI’s website for more information.
*Note: Please do not view this article as investment advice. Research all virtual currencies thoroughly and/or contact your financial advisor before investing.