ICON Newsletter #24 - Ranked Top 25 Project Based on Fundamentals

Greetings ICONists,

It was another good week for the ICON project. We saw the global commission rate drop substantially, the amount of circulating supply staked increase, wallets with balances tick higher, and several other noteworthy announcements.

We’re almost halfway through what has been an eventful year not only in the world but specifically for the ICON project. We continue to make progress against our goals with BTP and LFT2 and are looking forward to hitting many more milestones as we make our way through the balance of 2020.

Thanks,

Min Kim, ICON Foundation Council Member

This month, ICON ($ICX) was named a Top 25 by Flipside Crypto using their novel Fundamental Analysis tool (FCAS) based on user activity, developer behavior, and asset maturity. Members of the FCAS 25 are reevaluated each month and must be ranked within the top 25 for at least 40 days to qualify. This is a great accomplishment but let’s continue climbing the ranks!

We recently decided to open up the P-Rep delegation application process for the community to see. Going forward, P-Reps applying for delegation will do so on our forum at forum.icon.community. We think this will provide more transparency for P-Reps and the community alike. And look forward to seeing re-submissions for June!

ICON Hyperhack is a 2-month online ICON hackathon hosted by ICON Hyperconnect P-Rep that will begin registrations and submissions on June 19th on Devpost.

The hackathon is open to all individuals, both technical or non-technical, as finding a teammate or partner is as easy as clicking a button on Devpost. Since the hackathon and its prizes are entirely online, there are no limitations for anyone.

ICON plans to provide support to teams that show promise to enable them to grow into main or side ventures.

Many in the ICON community have asked about the timing of ICONLOOP’s MyID launch.

We touched base with Henry Lee, Head of Strategy at ICONLOOP, this week who provided an update:

As a reminder, the banking partners in the MyID Alliance act as the issuers of the MyID verifiable claims. So integration into these banks is critical to the success of the MyID identity product. In simple terms, Banks are the issuers of the KYC’d digital identities through ICONLOOP’s MyID product.

Below shows the flow of the MyID product.

As you may be aware, MyIconWallet Mobile Apps for both iOS and Android are now available. It’s a wonderful wallet. Go check it out for yourself. You won’t be disappointed.

Why is this significant? ICON Network is where many different developers come together to built new things for the community. As more diverse developer teams contribute, we believe the ICON Network becomes more valuable. MyIconWallet is the first wallet application built by the community (not ICON Foundation), more specifically, the ReliantNode P-Rep team.

They told us that Ledger support will be added within 3-4 weeks. This is something even ICONex Mobile App doesn’t support at the moment. We’re looking forward to this!

For more information on how to use MyIconWallet, read the article below.