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ICONIC ICO Report – Ecosystem Built through Decentralized Assurance

Standard ICO Report Structure:

  • Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
  • Part 3: Useful Links (Further Research)

Part 1: ICO Analysis

With an ecosystem driven by economic innovation, the blockchain enterprise has become a thing of value to the internet society, so also is the value of every creative product that comes through it.

Investors are willing to take part in ICO projects that have viability and solidity potentials; more so, the current trend in crowdfunding for startups has become the topmost opportunity for both investors and internet entrepreneurs to build relationships centered upon the fabrics of decentralized networks.

The major problem currently experienced by most investment opportunities that come through ICOs is the issue of trust, and this has over time proven to be difficult to obtain without certain measures in place.

Even with the advent of smart contracts, to the traditional investor, it becomes more difficult to toggle between lines of incomprehensible codes to adjust their mentality

It’s quite unfortunate that some of the projects which sounded like an innovative way to use the blockchain technology were unable to meet up with their minimum requirement to begin product development.

With this in sight, it therefore means that despite the fact that ICOs do make it easy to source for funds from a global pool of prospective investors, it really isn’t as simple as it sounds.

The hurdles being experienced by the traditional venture capital system seem to be spilling into the decentralized system.

Trust is still the issue, investors need to be protected, project developers need to keep up with their promises, the products need to achieve the design grade if not to surpass it.

Mass adoption is also an important criterion for the development of the project.

In all, Iconic represents that centrepiece with its intriguing solution, by creating an ecosystem whereby investors and project developers can interact beyond the smart contact codes that govern the token sale events.

With the intermediary function of the Iconic platform, subdividing into different stages, functions and performance grade, the ultimate goal is to ensure that a win-win situation is achieved.

Features / Functions of the platform

There are three distinct features of the platform: the environment, the trading, and the assurance API. All three components of the platform are responsible for the governing procedures of ICO management system.

Once in the environment section of the platform, projects are listed and presented to the community, and the investors have the opportunities to go through the project themselves, therefore observing due diligence.

From this stage the investor can decide to participate in the crowdsale.

After the crowdsale, the tokens are immediately listed on the trading engine of the Iconic platform, this way investors don’t have to wait too long before the project is listed on other exchange platforms and become tradeable.

Another noticeable feature of the platform is its escrow system embedded in the assurance module that helps in securing investors’ funds by not directly sending the contributed funds to the project’s wallet directly; otherwise, there would be no way to ensure that the developers deliver on the set agreements.

Based on the roadmap and milestones to be achieved, the project will be assessed periodically and funds released intermittently.

If the development team fail to achieve a particular milestone or there are incoherent behaviours being displayed, an arbitration is conducted to dissolve conflicts and the process of devolution of funds is followed.

Part 2: Crowdsale Analysis – Details & Token Supply

The token will serve as the internal currency for the platform. Any transaction that would be done within the platform will be achieved using the NIC token. Aiming at a minimum of 2,800 Eth or 14,100 Eth to execute the project, the team would be offering a total maximum of 425, million NIC tokens for the crowdsale event.

Total Token Supply: 500 million NIC

Token Type: ERC-20

Token Distribution:

  • Pre-ICO 2%
  • ICO 83%
  • Advisors 5%
  • Owner/Early Investors 7%
  • Bounty 3%

ICO Sale Phase:

  • PRE-ICO: 8th February 2018 – 20th February 2018 (Bonus: 35%)
  • ICO: 15th March 2018 – 15th April 2018

ICO Bonus structure:

  • DAY 1 – 3 = 20%
  • DAY 4 – 10 = 10%
  • DAY 11 – 20 = 5%
  • DAY 21 – 30 = 0

Token Price: 1 ETH = 30,310 NIC

Crowdfunding Usage:

  • Provision 7%
  • Expansion Program 21%
  • General Expenses 4%
  • Marketing 14%
  • Installation 12%
  • Infrastructure 15%
  • Team and Dev. Salaries, Wages and Expenses 27%

ICO Founding Team –

  • Jonathan Darcie (Business Head):
  • Roger Ilha Moreira (Strategic Head)
  • Filipo Mór (Technical Head)

Part 3: Useful Links (Further Research)

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