ICONOMI Announces World’s First Digital Assets Repayment Program
ICONOMI, is one of the world’s leading digital asset management platform, and it recently introduced something never before seen within the industry. It is a repayment program that will serve to increase the stake every participant has in the company.
ICONOMI’s repayment program will offer a unique mechanic as the company intends to purchase ICN tokens from exchanges using returns made via its actively managed performance array, and destroy them on a weekly basis, offering each participant a much larger percentage share of the total ICN token amount.
The ICONOMI team, whose performance array is showcasing profitable returns after strong investments in successful Golem, Santiment, and Byteball, will start the repayment program on June 30. All token purchases and prices will be made available in their quarterly report.
ICONOMI Co-founder Tim Zagar said, “We are proposing a new way to distribute shared value to participants through a repayment program designed to increase the stake of each ICONOMI contributor. Our performance array is becoming exceedingly effective and it’s clearer now more than ever that cryptocurrency returns are the fastest of any asset class on Earth. For these reasons, we decided to reduce the ICN token count and increase participants’ stake.”
The repayment program will adhere to a specific set of rules, which were published recently on the company blog, but the primary financial function is that up to 1000 ETH will be used from April 1st to June 30th to acquire ICN tokens at a fair market price, and then remove them from circulation by sending them to an unreachable smart contract.
“Reducing the circulation creates value in scarcity, and it’s a great way to reward our investors for their continued support. This will not change the way current ICN token holders can buy or sell on any exchange. The proposal in its simplest form is a new way of rewarding holders of a new asset class, the ICN token. We will put this proposal to the community and we will await their feedback,” Zagar said. “We are extremely excited to finally bring our proof of concept to life. We are the first company in crypto to do this, but I promise you we won’t be the last.”