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ICON Newsletter #27 - Project Confidence at ALL-TIME HIGH

ICON Newsletter #27 - Project Confidence at ALL-TIME HIGH
By ICON Newsletter • Issue #27 • View online
Key Highlights:
  • Real ICX circulating supply is 248M, or 29.2% of total supply
  • 55.4% of circulating supply is staked vs. 38.4% at the end of 2019; ICX still offers one of the best annual staking reward yield at 13.5%
  • Over 105M total transactions on the ICON network; average daily transaction near 150K
  • Main P-Reps lowered the global commission rate to 17.3% down from ~17.5% last week

Dear ICONists,
We’ve been building, building, and building the ICON network over the past couple of years. We still have a lot more to build. But, with some exciting initiatives around the corner, we believe the timing is now ripe to experiment with public relations. Therefore, we’ve decided to work with Transform Group due to the firm’s extensive knowledge in the blockchain industry.
My confidence level in the ICON project is at an all-time high. Diving into economics, we currently have less than 30% of total real ICX supply in circulation, which takes account of both ICX staked or held by the foundation. This is the lowest ever and continues to go even lower by the week. The weekly inflation rate is at around 0.11%, which we measure to be a healthy rate given the level of economic activities in the ICON network. This is, of course, due to the lowest ever global commission rate is at 17.2%.
Soon, we plan to strengthen our economics by 1) Increasing Transaction Fees and 2) Introducing a Vote Stagnancy Program. Similar to the Global Commission Rate, both initiatives shall directly positively impact network economics.
Scott Smiley
Hey #ICONProject P-Reps, we took a look at our transaction fees compared to inflation and are thinking it would be a good idea to start raising them. They're super low even compared to other networks. Here's a plan, we can start voting next week!

Scott Smiley
1/4 I've been working on an idea to solve for vote stagnation that doesn't hurt passive investors, but mitigates their impact on governance and reward distribution.

$ICX #Governance
ICON continues to be rated high by third-party websites. Flipside Crypto gives the ICON project an FCAS (Fundamental Crypto Asset Score) of 792, which is above other notable layer 1 smart contract platforms such as VeChain, Cosmos, Tezos, Ontology, and Algorand. It’s also interesting to note that FCAS and Market Capitalization of these projects have a strong positive correlation. Unfortunately, ICON is an outlier. On the FLIPSIDE, fundamentalists may believe this could be a positive thing in the long-term.
This is @flipsidecrypto FCAS score rank. ICON @helloiconworld ranks quite well overall vs. other top smart contract platforms. Have room to improve, esp. market maturity category.
And, of course, with our main partner, ICONLOOP, closing another KRW 6 billion (~$5 million) in funding, ICON’s enterprise ventures are in a great position to scale. We look forward to this second half of 2020 while crossing-fingers that the worst of the pandemic and global economic crisis is behind us.
Min Kim, ICON Foundation Council Member
ICON Economics Overview
ICON boasts a complex economic system powered by cutting-edge blockchain technology and governed by P-Reps. The more you know, the more you can help influence and steer the P-Reps and community in the right direction. ICX Station team has put together a comprehensive overview of ICON Economics.
ICON Economics Overview by ICX_Station | July 2020 | Medium
Certik Completes ICON Smart Contract Audit
ICON is one of the largest decentralized networks in the world and it’s only growing bigger. Maintaining high security is a top priority. CertiK is the leading blockchain security company founded by Computer Science professors from Yale and Columbia University. Certik’s audit has provided peace of mind that our smart contract code is secure to our community and partners.
🌟 We are excited to announce #ICON's recent smart contract audit results!

⚙️The Audit Entailed:
└🔸Manual Review
└🔸Static Analysis
└🔸 Dynamic Analysis

🔗Read more here:

#CertiKaudits #CertiKforICON #Security #Analysis
FutureICX Going Live TODAY
Calling all traders! Do you have what it takes to predict the ICX price? Here’s your chance to show off your TA skills or test your luck.
FutureICX is a trading-related price prediction game of skill where the players can place a wager for a custom amount on what a certain crypto pair’s price would be at a pre-determined future moment and are aiming to be as close as possible to the actual outcome.
Go visit to play.
FutureICX is ready for release! 🥳🥳

Get your charts ready and join us on from 20th July to show off your trading skills and win your share of the 3000 $ICX added weekly prizepool!
$ICX Available in Atomic Wallet
Crypto is still difficult for mainstream users. Atomic Wallet offers one of the easiest ways to purchase and store ICX. The ICON Team is continuing to support new channels and partner where crypto beginners can discover and participate in our growing community.
Buy $ICX with your bank card in 20 local currencies directly in Atomic and earn cashback for it!⚡️

As a part of the #ICON integration, thanks to a grant from @helloiconworld, we're working on implementing ICX staking! Who is waiting? 🙌

Balanced Network Updates White Paper
DeFi is hot right now. Balanced Network is continuing to refine their White Paper to build an ultimate DeFi product on the ICON network.
Balanced Network is a collaboration between 4 P-Reps - ICX Station, ICONOsphere, Mousebelt, and Parrot9.
We are excited to announce our updated white paper! We made changes to:

-> Liquidation mechanism
-> Token economics
-> Platform fees
-> BAL mining
ICON News Translated to Multiple Languages
The future of ICON is strong because of our amazing community. ICON news is now translated to multiple languages. This is truly a grass root collaborative effort.
ICON Daily
Read Daily $ICX in your native language!

🇵🇭 Tagalog - @IconPilipinas
🇪🇸 Spanish - @espanicon
🇫🇷 French - @fr_icon
🇹🇷 Turkish - @icon_haber
🇭🇺 Hungarian - @ConHungari
🇩🇪 German - @icon_deutsch
🇧🇩 Bengali - @iconFanBD
🇮🇩 Indonesian - @HarianICON

Interested in translating? DM us!
2 Meetups on July 30th
One in Seoul and one virtual. Take your pick!
Meetup w/ @chainlink x @MakerDAO x @helloiconworld is finally happening after we had to postpone it due to COVID19. It doesn’t get any better than this.

Join us at #ICONLounge #Seoul

$ICX $LINK $MKR #finance #oracle #interchain
Were you disappointed that you couldn't join the meetup in Seoul? We've got you covered!

Presenting virtual meetup about the governance with @tezos, @MakerDAO, @MessariCrypto. @DaekiLee1 from @IcxStation will be representing @helloiconworld.

Sign up:
2020 Enterprise Blockchain Award goes to...
ICONLOOP was one of the finalists for 2020 Enterprise Blockchain Awards held by Blockchain Revolution Global. Unfortunately, ICONLOOP did not win. Nevertheless, it was extraordinary to see ICON’s main ecosystem partner invited to an international event and recognized amongst respectable companies.
Blockchain Revolution Global: 2020 Enterprise Blockchain Awards is live streaming now. @ICONLOOP1 is one of the finalists represented by @hihenrylee. You can watch via link below. Impressive production quality.

@dtapscott @alextapscott @waynechentweets
ICONPLUS to Interview UFC Pro Fighter
We love seeing unique content in the ICON Ecosystem. ICONPLUS team has been delivering some of the most creative content for the ICON community to enjoy and share. We’d like to encourage more P-Reps to bring out your creative side and experiment.
Wendy O (Watch

I had the pleasure to interview UFC vet & Pro Fighter at American Top team @HayderHassan !

We talked about our mutual passion for MMA, the relationship between Crypto & Combat Sports and his love for #ICON!

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