ICONIC - AN ICOs ECOSYSTEM BUILT THROUGH DECENTRALIZED ASSURANCE

malikusama (25)in #cryptocurrency • 7 years ago (edited)

Innovation of Blockchain technolgy is no less than a revolution in digital world, which has taken the world by storm and changed the world's perspective about current money system.
No one can deny the fact that future is all about digital currencies and decentralized network.
As day by day more digital coins/tokens are getting into the market with differnet ideas behind them, there is no well organized way to run the ICOs and integrate their process from launching till the end of crowdfunding and distribution.

IDEA/SOLUTION :
To manage the ICOs in convenient way and make them more attractive and organized an environment was needed that would be able to integrate the whole process.
Recently "ICONIC" eco system is introduced as an ultimate solution to form an organized and connected environment for ICOs, the team believes that a decentralized system doens't supposed to be an unorganized system.
Basically ICONIC will provide an ecosystem with a complete package for projects to cover all the phases of ICOs, this includes tokens, their market trading and all other necessary instruments needed to assure fair agreement.

ICONIC ecosystem is comprised of following channels.

1. ICONIC Environment :
The ICONIC will provide an ideal and interactive environment to connect the stakeholders with the coming projects and to promote the ICOs of projects.
Companies will be able to finance their business or project through this channel, while on the other side the investors will able to directly interact with the ecosystem.

2. ICONIC Trading :
Digital assets without trading are worthless, so ICONIC will provide a dynamic platform for trading electronic assets of every project.
To provide liquidity to early investors and continous trade of electronic assets is one of the major functions of this channel (ICONIC trading).

3. ICONIC Assurance :
Assurance is always needed to satisfy the users for joining a project or an ICO.
This channel will ensure the realiablity in project by involving third party like escrow services and managers.
The channel comprised of three types of third parties
ESCROW: An escrow will be available for the administration of the invested money in the project or ICO, that will
ensure the transparency and security of the funds.
AUDIT: A complete audit of the project can be demanded by investors which will analyse each and every aspect of
project with the budget to find any irregularities if present.
ARBITRATION: To settle the disputes and resolve the conflicts the inappropriate attitude of investees can also be
investigated and checked through third party arbritation service.

HOW IT WORKS?

Working of different channels of ICONIC is given below.

->Environment (Core):
Following steps will clearly explain the process in environment.

Registration of the business in ICONIC.
Companies that qualify will able to launch offers.
The offer will be launched which contain the details of its properties like any gaurantee, escrow involved, any previous project and details about the tokens.
The projects and the stakeholders will able to communicate and interact through the channel.

To ensure the realibility of project, information and history will be publicly available.
ICONIC Environment.PNG

->Trading channel:
ICONIC is providing a high speed, smooth and programmable interface for traders for a distinct trading expereince.
Features that are available in this channel are :

Post-ICO token offer : Trading environment will be available for purchasing even after ICO to attract the investors and to increase liquidity.
Alerts and control : ICONIC is providing customizbale options for users, this means users will able to configure and customize alerts according to their desire and also control them.
Integration with ecosystem : Users will have access to the iconic environment to check the data and indicators for trading decesions in the market.
Acquisition of cryptocurrencies : Cryptocurrencies with ill repuation but with wide acceptance will be able for sale in the secondary market, and participants would be able to trade them.

->Assurance:
The working of this channel can is described in following steps.

Some terms and rules are set by offerors(project) before offering an escrow services, in case of audit along with the companies that owns project, the investor can also request for an audit for the project.
Registered escrow manager is then selected according to the offer of the offeror, in case of audit services the companies that are listed are obliged to fully comply with audit requests.
Escrow and auditors finishes their job after all the necessary documentation.

In case of arbritation the third party provides the possible solutions for particular problems to resolve the conflict between the investors and the project, rules of judgement are set by arbitradtion service provider for an agreement to find the solution.