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ICON Newsletter #23 - K-Growth Investment Corp. invests in ICONLOOP

Key Stats ~54% of circulating supply staked vs. 38.4% at the end of 2019. ~35% of the total supply st
ICON Newsletter #23 - K-Growth Investment Corp. invests in ICONLOOP
By ICON Newsletter • Issue #23 • View online
Key Stats
  • ~54% of circulating supply staked vs. 38.4% at the end of 2019. ~35% of the total supply staked. ~14% annual staking reward
  • Another +4% weekly growth in wallets. Balance wallets have increased 3x since September
  • Main P-Reps lowered the global commission rate to 19.1% down from ~29% last week. This is great to see and shows strong commitment to long term sustainability 

Dear ICONists,
Last week, K-Growth Investment Corporation, one of Korea’s most prestigious funds, announced that it’s investing in ICONLOOP. But, before we go into the details on the significance of this, I want to first address the question that continues to be brought up, “How does this relate to ICON’s public blockchain?”
We’ve answered this question many times including in our Newsletter #5: The #broof is in the Pudding (BTW, highly recommended for you to read and share). But, there continues to be confusion in the community. No worries. I’m happy to continue answering as long as it takes.
I see alot of people commenting on the relationship of $icx and @iconloop…
- @Markmagmma (via Twitter)
Congrats to the private chain that unfortunately doesn’t use $ICX. When will @minhokim and @RickyLeeDodds be accomplishing similar business growth for the Public Chain?
- @FrontlinesPRep (via Twitter)
The ICON Foundation pays ICONLOOP and other companies (incl. P-Reps) to build the core blockchain technology, infrastructure, and tools. ICONLOOP also builds blockchain-based applications on its own including MyID, #broof, and VisitMe with venture capital funding. Both #broof and VisitMe already run on top of ICON’s public blockchain. MyID, which has not launched, plans to be connected to the ICON network in the future. 
So, how does VC investment benefit ICON’s public blockchain? The answer is simple. ICONLOOP can continue to build MyID, #broof, and VisitMe that will run on the ICON network creating more users and transactions. In addition, ICONLOOP hopes for these services to be profitable so that it can build more services that utilize ICON’s public blockchain.
This brings me to what I said during my interview with Layla Heilpern from the ICONPLUS P-Rep Team. We need more companies and teams like ICONLOOP to join our ecosystem. ICON Foundation, ICONLOOP, P-Reps, and our community have to collectively work together to attract more serious and dedicated companies to build on top of the ICON network.

Thank you,
Min Kim, ICON Foundation Council Member

ICON Project Overview by Ricky Dodds
Ricky Dodds, ICON’s head of strategy and communications, provided a great overview of the ICON project during the recent Messari’s Mainnet Virtual Conference. Again, you’ll have a better understanding of how ICONLOOP contributes to ICON’s public network after watching this. ICON is a complex project that consists of many components that combine to make up our robust network and ecosystem.
ICON Foundation at "Mainnet2020" Virtual Conference | #iconTV
ICON Foundation at "Mainnet2020" Virtual Conference | #iconTV
The Significance of K-Growth Investment Corp.
You’ve heard the news. ICONLOOP is now a portfolio company of K-Growth Investment Corporation, one of Korea’s most prestigious funds. Once again, Markus from ICON Hyperconnect P-Rep team broke the news to our community with a comprehensive summary of FN News Article (via twitter):
BREAKING: ICONLOOP, ICON’s @helloiconworld technical partner, has been selected to receive funding from the $100 Million USD Fintech Innovation Fund. This is a fund of K-Growth, one of Korea’s largest fund-of-funds, supported by the Korean Government.
ICONLOOP is one of 6 companies to have received funding. The companies that were selected were from these sectors: Big Data, Blockchain based DID, Robo Advisor, Music Copyright, Finance AI and Materials Finance. ICONLOOP is the only blockchain based DID company selected.
Regarding the news, ICONLOOP stated: “ICONLOOP, as the largest blockchain company in Korea with over 140 blockchain experts, has provided blockchain solutions to several major corporations and government entities since 2016. ICONLOOP’s DID, MyID, which has proven itself as a leading tech and has been selected as an Innovative Financial Service by the Korean Government’s FSC. Through MyID, we are preparing to bring about innovation to the Fintech industry in Korea. ICONLOOP will continue to lead the way in spearheading blockchain based initiatives and solutions not only in the Fintech space, but across various different industries.”
The significance and implication of this news by such a respected investment fund is enormous. As we’ve pointed out many times, we’re continuing to see increasing interest and confidence in the blockchain technology and industry from the government and traditional investors. And, this is another evidence that ICONLOOP is viewed by reputable institutions as the leader in our industry in Korea. Most importantly, we view this event as another milestone towards our vision of creating a borderless digital nation. We now have a powerful ally for our journey.
Be sure to check out K-Growth’s video that introduces ICONLOOP below. K-Growth has released a video on all its recent portfolio companies.
K-Growth Investment Corp. Portfolio - ICONLOOP
K-Growth Investment Corp. Portfolio - ICONLOOP
Also, check out this English article about the investment by Crowdfund Insider.
South Korea's $100 Million K-Growth Fintech Innovation Fund to Provide Funding to Blockchain Project, ICONLOOP
ICX Monthly Trading Volume Continues to Rise
Tony D (P-Rep ICONPLUS)
#ICX non-staked circulating supply maybe decreasing but trading volume has been on the up since Dec'19. A total of $1.24 billion was traded in May compared to $181 million in Dec'19. A massive 586% increase in 6 months.

#ICON #ICONProject @helloiconworld https://t.co/wwZ8fhY3Mu
ICON is Top 20 Most Discussed Crypto on Twitter
CaliCryptoCo (P-Rep ICON4Buisness)
$ICX was the 14th most talked about coin on Twitter last month. Jumping up 6 spots https://t.co/sdMGMq9m3x
ICX in the Wild
Hermes ICON-Greece
Another shop in Greece which accepts $ICX. @Hermesicon supporter. Buy your medical supplies with crypto! #ICXadoption. https://t.co/R1UmRe97Qs
ICON Ecosystem Updates
We’re increasingly seeing progress with various tools and Dapps in the ICON ecosystem. Here are some projects we’ve seen this week with updates.
ICON Vote Monitor (iconvotemonitor.com)
Bohdan | Everstake
#ICON community, @everstake_pool has updated ICON Vote Monitor - https://t.co/68sn7NIh3C 🚀

New UI, all staking and voting activity, account tracking, voting visualization - take a look and leave feedback!

P.S. @helloiconworld @_BongAnHa many thanks for help and suggestions🙌 https://t.co/iq6yIeodQi
FutureICX (futureicx.io)
FutureICX
Hey guys! We would like to remind everyone that our feedback giveway will be closed tomorrow, so if you would like to participate in it, please check the details in the link below.

We hope to hear from each and every one of you! 🙂

https://t.co/SxEfMuXDyW
ICONbet (iconbet.io)
ICONbet
Now you can convert BTC, ETH, TRX and USDT to ICX directly onsite and play on https://t.co/iObVM0o01H!!! 🚀🚀🚀🔥🔥🔥 https://t.co/KfBEB1UF3g
Workshops and Meetups
We love seeing workshops and meetups. We hope more P-Reps take the initiative and coordinate these events. We believe they are much more valuable than self-tutorial blog posts.
Major League Hacking
If we're gonna talk about ICONIC in the tech world, you gotta check out the ICON workshop tomorrow on building your first blockchain app! June 4th at 9 AM EDT, be there or be square 😎 https://t.co/Qwyn3wpnXl
Blockchain at Berkeley
Learn how @helloiconworld is hyperconnecting the world! Attendees will learn how the ICON Network can be used and why it's changing the world. Understand how you can, and why you should, build on ICON. Attendees will receive ICX! See you there! Register: https://t.co/7C0GI7eZ8h https://t.co/RZTSmQb0ub
Welcome ICON Forge P-Rep Team!
It’s exciting to see a “development-focused P-Rep team”. It’s even more exciting to see that they started Project Nebula, a NFT game. We hope our community can show some appreciation and make new P-reps feel welcome.
ICON Forge
Announcing the launch of ICON P-Rep: ICON Forge!

@ICONForge is a development-focused P-Rep team, creating the first ICON-based digital collectible game. We aim to standardize NFTs and bring crypto-collectibles to ICON blockchain.

Read the proposal here:
https://t.co/PBZPDKJSYi
ICON Forge
We're also stoked from all the positive feedback we have received from the ICON community in the past week. Thank you!

Here's a sneak peek into Project Nebula, the upcoming NFT game on the ICON network!

If you like what we're doing, you can support us by voting for ICON Forge🚀 https://t.co/xxYh0gMPEq https://t.co/k2zURwztqW
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