ICONOMI Weekly Update

Dear users,

Welcome to the last Weekly Update of April. Over the past week, we released our Q1 2018 Financial Report, hosted our fourth successful Meet the Managers event in Amsterdam and published a follow-up, and more.

Read the full write-up on our Meet the Managers event in Amsterdam.

Yesterday, on April 26, we released our Q1 Financial Report, where we detailed our revenue, expenditures, burn rate, book value, and other essential financial statistics. The Financial Report also contains in-depth reports on each department’s achievements in Q1 and goals for the future.

2. Why has the airdrop of OmiseGo Tokens never been added to Pinta? Will the omg tokens be sold for ICN buybacks ?

by gnossienli

Airdopped OmiseGo tokens were sold for ETH, of which some will be added to Pinta and some will be used for buybacks. Details will be disclosed in the Q2 Financial Report.

3. Will it be possible to add swaps on ICONOMI dashboard e.g. swap BLX for FCI?

by benbrick

This feature is not currently on the immediate road map but would be useful for ease of use and is something we may implement in the future.

4. Previously it’s been stated that the fiat gateway will begin in early Q2 at the latest. Many people would define early Q2 as before Q2 is halfway over (middle of May). Is ICONOMI still on track to implement the fiat gateway in this timeframe?

by stephen

The fiat gateway will still be released in Q2 but is unlikely to be ready by the middle of May. Reaching this milestone depends not only on our work, but also on our partners, especially banks. Opening crypto-related bank accounts takes time; some banks are not open to working with crypto-related companies at all, and those that are usually require additional checks before opening an account, which can be a lengthy process.

5. Previously in January of this year one of the DAA managers of SOPR said on their telegram that ICONOMI was a few weeks away from listing 50 new coins. Assuming what this DAA manager said was accurate, what has been the reason for the delay of listing these new coins?

by stephen

A critical requirement for a coin to be supported on the ICONOMI platform is liquidity, which has dropped dramatically across the board in recent weeks. Additionally, the most liquid coins are often those with custom blockchains, which requires us to design custom cold storage solutions as well. Coins will continue to be added on a gradual basis.

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