ICONOMI Announces World's First Digital Assets Repayment Programme

by PaymentsJournal 0

Leading European tech company proposes new way to distributegenerated value

New York, NY – 28 March 2017 – ICONOMI, theworld’s leading digital asset management platform, has introduced an industryfirst repayment program that will increase the stake every participant has inthe company. ICONOMI’s repayment programme will include a unique mechanic; thetech company will purchase ICN tokens from exchanges using returns made by itsactively managed performance array, and destroy (“burn”) them on a weeklybasis, giving each participant a larger percentage share of the total ICN tokenamount. The ICONOMI team, whose performance array is already showcasinglucrative returns after strong investments in successful ICOs like Golem,Santiment and Byteball, will start the repayment programme on June 30. Alltoken purchases and prices will be made publicly available in a quarterlyreport.

ICONOMI Co-founder Tim Zagar said,“We are proposing a new way to distribute shared value to participants througha repayment programme designed to increase the stake of each ICONOMIcontributor. Our performance array is becoming exceedingly effective and it’sclearer now more than ever that cryptocurrency returns are the fastest of anyasset class on Earth. For these reasons, we decided to reduce the ICN tokencount and increase participants’ stake.”

The repayment programme willfollow a strict set of rules, today published on the companyblog, but the primary financial function is that up to 1000 ETH will beused 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 inaccessible,untouchable smart contract.

“Reducing the circulation createsvalue in scarcity, and it’s a great way to reward our investors for theircontinued support. This will not change the way current ICN token holders canbuy or sell on any exchange. The proposal in its simplest form is a new way ofrewarding holders of a new asset class, the ICN token. We will put thisproposal to the community and we will await their feedback,” Zagar said.

The ICONOMI.performance DigitalAsset Array (DAA) was launched in November last year with the sole premise tosee returns from ICOs expected to gain market momentum. Its success has beenphenomenal, and as a result, the ICN token has doubled in just four months from$16 million USD to $32 million USD. ICONOMI, which conducted one of the largestcrowd raises in history, has created a unique digital asset management platformthat provides a simple way for investors to maximise participation and returnsin the decentralized economy.

“We are extremely excited tofinally bring our proof of concept to life. We are the first company in cryptoto do this, but I promise you we won’t be the last,” Zagar concluded.