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ICON Newsletter #26: ICONLOOP raises 6 Billion KRW in Bridge Round

ICON Newsletter #26: ICONLOOP raises 6 Billion KRW in Bridge Round
By ICON Newsletter • Issue #26 • View online
Greetings ICONists,
It’s been two weeks since our last newsletter and there is a lot of info to catch up on! We’ll summarize most of the keys takeaways here to get you up to speed ICYMI.
As we’ve said since the start of the year, 2020 is a year of growth for the ICON project. And thus far, it’s playing out much as we expected. Although we’re still not satisfied with the pace, we are encouraged by the progress we’ve made and are looking forward to pushing forward towards our goals throughout the remainder of 2020.
The next few months will be exciting. We will be releasing some new products and use-cases of our technology and we will also be providing a major technology announcement that we believe will drive even more growth, adoption, and enthusiasm for our network.
Before I go, I want to thank the community for the collaboration, effort, guidance, and support during the first half of the year. Let’s continue to push ourselves and make the second half even better.
Key Highlights:
  • ~55.2% of circulating supply staked vs. 38.4% at the end of 2019. ~13.7% annual staking reward
  • +3% weekly growth in wallets with balances. Over 300,000 wallets now have an ICX balance
  • Main P-Reps lowered the global commission rate to ~17.3% down from ~17.5% last week
  • ICONLOOP raises 6 billion KRW (~5 million USD) in a bridge round from leading Korean investment firms
  • ICONLOOP onboards POSCO (a multi-billion dollar company) to our network through the VisitMe app
  • ICON released its June technology roadmap update including staking from SCORE, multiple unstaking periods and voting up to 100 P-Reps
  • Cointelegraph covers ICON Hyperhack in an article titled “The Rise of Virtual Hackathons
Min Kim, ICON Foundation Council Member

June Grant Recap: 3 approvals
We approved 3 grants in June: Marvelous Gift Cards (ReliantNode), Korean Community Management (Simsul) & Social Media Marketing (ICONPLUS). Check out all the details in the recap below!
ICON Monthly Grant Recap — June 2020 - Hello ICON World - Medium
June Roadmap: Big Improvements Coming
June was a busy month for development as we prepare to release a major upgrade in July. Soon ICONists will be able to have multiple unstaking periods and delegate up to 100 P-Reps. Additionally, we will implement staking from SCORE (our smart contracts) which will open up many opportunities for innovative DeFi applications.
Below is the projected timeline for the release:
  • 07/14: Release the update to Pagoda, Yeouido
  • 07/20: Release update to exchanges
  • 07/27: Release update to Mainnet
See below for more details.
ICON Development Roadmap Update — June 2020 - Hello ICON World - Medium
NFT Standard Release - LAST CALL for revisions
Last week, we announced the release of our NFT (non-fungible token) standard. The last call for changes will run until July 13th. Any interested parties should take a look before that date.
We’re extremely excited about the potential applications of the NFT technology and hope to see many use-cases on the ICON network in the coming months.
ICON IRC-3 Token Standard (Non-Fungible Token Standard)
Balanced Tech Specs Release: DeFi on ICON
Balanced.Network, the first DeFi DAO on the ICON Network, released its technical specification and prototype last week.
As you’re probably aware, DeFi and more specifically “yield farming” are the topics driving the crypto news flow over the last several weeks. Given this, we are excited to see what Balanced.Network can bring to the ICON ecosystem.
ICONLOOP raises 6 billion KRW
Another week, another major announcement from the ICONLOOP team. This past week was highlighted by ICONLOOP’s successful raise of 6 billion KRW in a bridge round from some of the most well respected and influential investors in Korea including K-Growth and Kiwoom Investments!
Congrats to the ICONLOOP team. This is another HUGE win for the ICON ecosystem.
ICONLOOP attracted KRW 6 billion of Bridge Round and achieved a cumulative investment of KRW 16 billion.

Fintech Innovation Fund: K-Growth
SI: Danal Holdings, Kiwoom Investment
FI: KClavis Investment, TS Investment, KoreaAsset, Pathfinder H
Community Developer Call #2
Calling all ecosystem developers! We’ve now successfully completed our 2nd community developer call. And we need your continued support.
This is a great opportunity to collaborate and learn from fellow ICON developers while also discussing project needs.
During the most recent call, we discussed the initiative, NFT and Security Token standards, and more open source development work from the community.
If you’re a developer or just interested in the development of the ICON ecosystem please join in if you can!
ICON Community Developers Call #2 led by @DaekiLee1

Great initiative and participation from several P-Reps who are trying to add value to the $ICX ecosystem.
ICON Hyperhack hitting Cointelegraph
ICON Hyperhack was recently highlighted in a Cointelegraph article discussing virtual hackathons. Additionally, ICON Hyperhack was a featured hackathon on Devpost’s front page alongside Amazon, Atlassian & PyTorch hackathons!
Currently, over 190 participants are building on Korea’s largest public blockchain in De-Fi, Utility, NFT & Gaming categories for a chance to win $20,000 USD in prizes & more.
ICYMI there is still time to join and 39 days to submit your project!
Other ecosystem highlights
Adoption. Just another normal day on boarding a multi-BILLION dollar company. 😎

Thank you @ICONLOOP1 team.
TOP15 coins by @LunarCRUSH Galaxy

LunarCRUSH Galaxy Score is a proprietary score that is constantly measuring crypto against itself with respect to the community metrics

Watch this awesome video about #ICX's core tech BTP, the key to Mass-Market Adoption of Blockchain.

With the recently released interoperability protocol, BTP 1.0 #ICON brings true decentralization to #Blockchain by seamlessly connecting public & private decentralized services.
LunarCRUSH Social Listening for Cryptocurrencies
Real-time Top 10 Altrank™ Jul 3 1:29AM UTC
#altrank = Increasing social activity + exceptional price performance vs #bitcoin + rising trading volume
1 $ftm @FantomFDN
2 $knc @KyberNetwork
3 $icx @helloiconworld
4 $bnt @Bancor
5 $vet @vechainofficial
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