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Nexo

ICONOMI: Fund Management ‘Uber’ Raises $5M USD in Crowdsale

Bitcoinist by Bitcoinist
6 years ago
in Altcoin News, Altcoins, Start-Ups
0
Advertisement

ICONOMI is a fintech startup, determined to become the “Uber” of fund management. With several crypto-based investment funds launching soon, the platform’s developers said that ICONOMI will simplify investing into cryptocurrencies.

Disclaimer: This article is sponsored by ICONOMI. Bitcoinist is not responsible for this firm’s products and/or services.

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ICONOMI: Financial Services of the Future?

iconomiICONOMI’s mission is to provide an opportunity for investors looking for high profits, not possible in the old economy. ICONOMI will bridge the gap between old and new economies, allowing investors who don’t want to go into many different cryptocurrencies, ICOs or blockchain projects (or want, but don’t have expertise, time or have concerns about security) to invest into a broader picture: Blockchain.

ICONOMI is using Ethereum app tokens as a technology for its funds. Each of ICONOMI’s upcoming investment funds will have their own tokens, which will be used to complete transactions within the platform. Once listed on exchanges, ICONOMI users will be able to cash out their investments into another cryptocurrency outside of the ICONOMI platform.

Stage 1 of ICONOMI is to launch two financial instruments. The first one is the ICONOMI.INDEX crypto fund that will reflect the development of the credible cryptocurrency market. Second one is actively managed ICONOMI.PERFORMANCE fund, which will aim at high performance – and target multiplication of investments. This exclusive fund will be available only to ICONOMI token holders for now. Funds will be incorporated well within 2016. Details on instruments can be found in the project’s official white paper.

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Stage 2 of ICONOMI’s plan is following next year, and it will be the Open Fund Management platform. OFM 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.

A third token, ICN will represent ownership over the ICONOMI itself. Currently ICN can be purchased with several currencies, such as bitcoin, Ether, Lisk, EUR and USD. At press time, investors can purchase ICN through the platform’s ICO (https://ico.iconomi.net).

ICONOMI promising weekly dividends to its shareholders

ICN tokens holders will receive weekly dividends in the form of ETH from all ICONOMI revenue streams. In stage 1 they will consist of management and/or performance fees from the funds managed by ICONOMI. While the performance fee is, as the name suggests, dependent on the actual performance of an individual fund, management fee is paid to ICONOMI as long as there are assets in the fund, regardless of its performance.

ICN token holders will be able to vote on important ICONOMI decisions, and will be invited to join the ICONOMI.PERFORMANCE investment fund.

ICONOMI has been planning for expanding global reach, building a legal team to help navigate legal obstacles they encounter. “As pioneers, we are responsible for proactively opening this topic [crypto-fund management] with the regulators.” said Tim M. Zagar, co-founder of ICONOMI.

The team behind this project shares strong optimism for the platform’s future, and decentralized economy. “Great idea was backed up with appealing business plan. Crypto Index fund is offering diversification possibilities to cryptocurrencies traders and investors that are obvious to everyone. Besides that, I am 100% sure that anyone researching ICONOMI will be completely blown away with transparency and professionalism of the people in the team” he added.

So far, the ICO has raised approximately $5.1 million USD, and crowdsale will close on September 29th at 8pm UTC.


Images courtesy of ICONOMI.

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