I received this email from the ICONOMI team with important updates. It looks promising and I am happy I did not panic sell. Hodling strong:))
Dear ICONOMI investors,
It has already been a busy 2017 at ICONOMI HQ. I’d like to take a few minutes to describe the progress we’ve made and share our plans for the future. This is the first of our regular investor updates that will be shared monthly.
We are on track to start providing access to ICNX trading features to the next round of pre-registered beta testers by the end of February 2017.
Digital Assets Management Platform has undergone extensive testing ever since its launch in December 2016, with our whole team tirelessly working to perfect the platform for the public launch. There are currently 10 test users operating with ICNX, which is at the moment worth around 30k USD. Despite the fact that our core platform was ready by late December, we decided to delay the public launch. There were two key reasons for that decision.
The first reason for this was user experience that did not meet our standards. With initial UX designs geared towards the eventual full-featured platform, the experience of buying and selling ICNX was simply too complex. We believe that our product manager and user experience expert have solved this issue, which means that we can deliver a seamless and enjoyable ICNX trading experience.
The second reason is the current state of digital asset liquidity. We realised this during the late stages of ICNX development. If we did not implement any safeguards, it would be extremely easy for ICONOMI digital asset arrays to substantially affect the price of digital assets, leading to loss of value and opening the door for potential abuse. This is partially solved by instituting liquidity thresholds for asset inclusion in ICNX and imposing dynamic buying limits based on current market situation. However, with funds like Blue Magic Capital, an up and coming hedge fund on the ICONOMI platform, including digital assets with less than $5,000 daily volume, we realised that a much more robust and automated system would have to be developed. We have started working on this challenge, but there is a lot of work ahead of us. If you are a data scientist interested in solving this kind of problem, get in touch with us!
I would also like to update you on other ICONOMI activities. While the developers are a crucial part of the team, almost half of the ICONOMI team are not developers and work on tasks like business development, investment evaluation, ICO mentoring, customer acquisition strategy, customer support and legal affairs.
We are actively looking for investments for the ICONOMI.performance. Until now we have acquired assets in Golem, Byteball and today Santiment. In front of us there is an intensive investment period.
A solid relationship with the crypto ecosystem is crucial for our business to grow, which is why we presented ICONOMI at Ethereum Developers Community in the San Francisco Bay Area on 7th February we spoke at The Blockchain Event in Fort Lauderdale on 9th, and we will be at the Ethereum meetup in Vienna on 14th, EDCON Paris on 17th and 18th February, and the Cryptoinvestors meetup in Munich, Germany on 7th March.
The ICONOMI team