$ICX has recently added some new dynamics to its economic policy
It's now fully aligned with
@BalancedDAO
through a revenue split:
- 50% of rev is used to buy and burn icx
- 50% of rev is managed by $BALN
Quick look at how this symbiotic relationship 🧵
Progress... the first Bridge Dollars ($USDb) have been minted on main net. Bridge is coming, and with it, a new wave of
#DeFi
users 🔥🔥
$ICX
#ICONProject
With this incentive program in place, I've never been more confident in the future of $ICX.
💰80,000,000 ICX dedicated to incentivize the use of apps integrated with BTP
💰120,000,000 ICX dedicated to incentives for developer groups building apps/tools around BTP
Read the
@Cointelegraph
coverage of our $200,000,000 Interoperability Incentive Fund!
📲:
This is one of the largest incentive funds within the entire blockchain industry and the first ever dedicated entirely to interoperability 🌐
The
#ICONProject
has all the capabilities of other smart contact platforms, but the support/collaboration with ICONLOOP makes us so much more than just another blockchain.
I'm talking very real enterprise and gov't relationships in SK. But no need to take my word for it.. $ICX
Despite all the excitement with
@BalancedDAO
and
@ommfinance
, I must admit I'm most excited about BTP. So much happening behind the scenes.
@helloiconworld
is going to hyper-connect the world, it will be the rails of the future of finance, I have no doubt.
$ICX
Another week, another airdrip for $ICX holders. 91,000 $BALN available to claim, and all you needed to do was delegate your ICX. That’s over $600,000, and that’s just this week, growing each week.
Long-term $ICX holders deserve upside in our first DeFi project
#ICONProject
Coming this week for
@BalancedDAO
:
- Backdated LP rewards disbursement
- $BALN airdrop for LPs that have been missing the backdated rewards
-
#Airdrip
for $ICX stakers starting May 2nd/3rd
- Upgrade to snapshot process
- New modal to prevent funds from getting stuck on DEX 👇
Sneak peak of
@BalancedDAO
upcoming stats page, still lots of work to go, but coming together. Props to
@bwhli
for making this page in the mean time 💪
$ICX $BALN
These times are tough on all of us, but in these times of uncertainty there's two things I can count on:
1.)
@BalancedDAO
will keep building
2.)
@helloiconworld
will keep building
Markets go up and down, but builders go one direction.
$ALGO 🤝 $ICX
I’m particularly excited to be working with this team. Algorand smart contract development is unique and I look forward to the cross-pollination of our dev communities as cross-chain apps begin to take shape
We're excited to share
@helloiconworld
has received a Bridges SupaGrant to integrate
@Algorand
into ICON's BTP Interoperability Ecosystem. This BTP integration sees Algorand join the growing web of interoperable connections within the BTP Working Group. 👉
Over $100M TVL in two days, over $10M worth of value created through new stablecoins on
@helloiconworld
- the future is bright.
#ICONProject
$ICX $BALN
In just over 50 hours, 10 million Balanced Dollars have already been created. The response has been unreal.
Other key stats:
TVL (collateral): $63.556 million
Borrowers: 1,423
TVL (DEX): $45 million
LPs: 358 (sICX/ICX), 966 (sICX/bnUSD), 599 (BALN/bnUSD)
Total fees: $ 150.7k
Quick update on
@BalancedDAO
priorities right now:
- Charts
- transaction history
- altruistic rebalancing contract
- Network fee distribution
- stats page
Shooting to have it all done by end of June, will update as we build, brick by brick 🧱
Just finished another great interview with
@hashoshi4
about
@BalancedDAO
, DeFi, and Digital Nations. Give him a follow, check out his content on youtube.
He's a great host, knows his stuff, and I thoroughly enjoy our conversations.
$ICX $BALN
#ICONProject
This is just... so important. Firstly, airdrop of $ICX tokens 1:1 with all $ICX holders. That's great and all, but the "why" is the most important, more below.
A new EVM compatible blockchain called "ICE" is coming to ICON. ICE will become the application hub for the
#ICONProject
w/ its own native token.
What does this mean for the $ICX community? Keep reading 👇
JVM is a moat for BTP and
@helloiconworld
, few understand.
ICON will be a hub of on-chain light clients, all written in Java. Want to fork BTP and run your own hub? Have fun translating complex cryptographic proofs for each unique network from Java into your own language. $ICX
Can't believe we're hitting this milestone less than two weeks into the project. Do I dare imagine where we'll be in the next two weeks 🤯
Coming soon:
- Distributions to early LPs that missed rewards
- New trading pair BALN / sICX
- More UI/UX enhancements
$ICX $BALN
Picking my head up from my telegram DM's briefly to say this:
I am absolutely blown away by the kindness, understanding, and support I've gotten from the growing
@BalancedDAO
community. You guys are amazing, thanks so much for the patience and excitement.
Now, back to work.
Attention Balanced DAO members!
We are aware of an issue regarding distribution of $BALN rewards. Some rewards have not been distributed yet. Rest assured, we expect everybody to have the correct amount of rewards within the next few days. Thank you for your patience 🙏
@helloiconworld
's decentralized grant program, the Contribution Proposal System, has just issued its very first approvals. Here is the transaction setting aside the funds to properly budget.
#ICONProject
$ICX
#DAO
All I can think about right now is how excited I am to borrow a boatload of Balance Dollars when
@BalancedDAO
launches. Leverage... I want leverage 🤤
Check the prototype. Get pumped.
$ICX
#DeFi
To expand on the hires specifically:
✅ 1 marketing person hired and getting up to speed
✅ 1 Project Manager hired and getting up to speed
✅ 1 Tech lead hired and getting up to speed
✅ Interviewing 8 people for a marketing lead role🤞
I'm using the bricks GIF again
What I've done for the past month? 📅
✅ 6 new grants to dev teams for ecosystem growth
✅ 3 new hires (+ more on the way)
✅ 2 new investments (not closed yet)
✅ 1 new banking partner (warchest ready)
✅ Restructuring for ops improvements
TL;DR - Reloading 🔫
Why did I decide to contribute to
@BalancedDAO
? It started back at Devcon Osaka in 2019. I saw how hard the ETH ecosystem was pumping DeFi as a use case. I realized this isn't just about ETH, it's about public blockchain, it's about basic economics.
#ICONProject
$ICX $BALN
Balanced was not a project rushed out in 10 days. Our absolute top priorities are security and UX, because the safety and experience of our users is all that matters.
#DeFiForTheRestOfUs
$ICX $BALN
Balanced is a decentralized finance product run by smart contracts. It’s risky, just like everything else in
#DeFi
/
#crypto
.
We can’t deny the risk, and it’s irresponsible to ignore it. All we can do is be transparent, and minimize the attack surface as much as possible...
ICONLOOP directly benefits $ICX and the
#ICONProject
. The government of Jeju Island (top vacation spot in Korea) requires every visitor to create a DID on our network thanks to ICONLOOP. This is a public blockchain transaction and uses ICX.
This is adoption.
How will the Zzeung app work in Jeju 🇰🇷 ?
1/ When visitors arrive on the Island, they are required to download the Zzeung mobile app and verify their identity using a Korean telecom service.
At this point, a verifiable credential is issued via ICON's public network $ICX.
ICON is and always has been an interoperability protocol. It’s time for hyperfocus on BTP, to go all-in, that’s what the coming incentive program is about.
The work ethic of our smart contract devs is unparalleled. Now for some much needed rest, I’ll catch the
@BalancedDAO
community on telegram in a few hours.
Thanks to all who had patience and believed in the team. Can’t wait to start adding new features.
Update:
We have squashed this bug. Distribution was successful today. The next step is to calculate $BALN owed from previous days and distribute.
Please allow us a few days to properly calculate, test, and distribute these rewards. We will follow up regularly with updates.
Migrating the database of a live blockchain to another live blockchain has never been done before, there was no precedent, nothing to fork. An amazing achievement indeed.
I don't think many give a lot of credit to the incredible success the switch over to 2.0 was. There was extremely minimal impact felt. An amazing achievement and goes a long way to legitimizing the technical strength of
@helloiconworld
and Preps involved.
Love seeing
#ICONproject
at the top of this list. I've been working on the project full time for almost three years and the community has seen so much growth. Our core is strong. Great to see actual data to back it up 💪
$ICX
TOP 15 coins by
@LunarCRUSH
Galaxy Score
Galaxy Score is a proprietary score that is constantly measuring crypto against itself with respect to the community metrics pulled in from across the web
$ICX $BNB $KAVA $TRX $WIN $DIA $VET $WING $OCEAN $SOL $LTO $ORN $HOT $ENJ $UFT
This milestone really speaks to the passion and engagement of the
#ICONProject
community.
Why build on
@helloiconworld
? Because 10% of the network will come support your project 🙏
$ICX $BALN
The Balanced collateral pool now holds 10% of the $ICX circulating supply! 🎉 What an incredible milestone to reach after just 16 days.
From where we’re standing, the future for Balanced – and ICON – looks pretty bright. ☀️
Today I sat down with
@paulbarron
to chat about $ICX, our upcoming initiatives and the broader blockchain industry. Great questions and really enjoyed the conversation!
1 UST is always redeemable for $1 worth of $LUNA, just as 1 bnUSD is always redeemable for $1 worth of $ICX (+/- rebalancing threshold).
When
@BalancedDAO
adds more collateral types, bnUSD becomes a multi-asset UST. Redeem 1 bnUSD for your choice of various cryptos.
Trade $ETH and $ICX for pennies using
@unifiprotocol
on
@helloiconworld
. Farm $UP for being an LP. Early stages of cross-chain DeFi getting started. Just imagine when BTP goes live, limitless possibilities. 🚀
#ICONProject
$ICX
This is going to be an absolute game changer for ICON and it’s DeFi ecosystem. Looking forward to many new collateral types and trading pairs on
@BalancedDAO
The migration from ICON1 to ICON2 was a monumental task itself, now it’s time to start activating new features. As somebody that loves economic design and game theory, can’t wait to see these changes in practice
1/11
Coming soon on
#ICON
2.0👇
You may have heard of IISS 3.1 coming to our ICON Network:
🔹 Lower Network Inflation
🔹 Multiple ways for $ICX to become deflationary
🔹 Sweeping P-rep changes
🔹 Automated CPS funding
🔹 ...and more!
Balanced Dollar will be listed on P2PB2B
@BalancedDAO
is DeFi designed for adoption: it’s fast, affordable, and easy to use. It offers the best experience for ICX holders, and a higher return than you’ll ever get with your bank.
🔸Website:
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!
$ICX
Never been more excited to be working on the ICON Project. With all the focus on cross-chain, the research I’ve done has shown nobody has prioritized security and decentralization the way BTP does.
On-chain light clients are the answer, and they are coming
🦾 Check out the ICON Roadmap Update down below!
The ICON team made significant progress on ICON 2.0, BTP architecture, BTP integrations, and ICON Bridge. Read all about what we worked on in March, and what our core focuses will be for April 👇
Many ask how
@BalancedDAO
and
@ommfinance
will be able to take users from ETH ecosystem, but that market is tiny. A better question is how will we grow the pie, how will we take users from traditional banking. Bridge is the answer
$ICX
#ICONProject
How do you convert a million new users to DeFi?
By making it easy to convert Crypto to fiat and vice versa!
Bridge creates a seamless UX for $ICX DApps & hides everything Blockchain related.
Non-Crypto users don't care about underlying Tech.
All they want is the best UX! 👏
As somebody actively working on the $ICX DeFi ecosystem this opens up the door for so many great opportunities for
@BalancedDAO
✅ Cross-chain liquidity pools (trading assets)
✅ Cross-chain money markets (borrowing/lending)
✅ Cross-chain DApps (contracts talking to contracts)
UI not quite done yet, but getting closer. Can't wait to release the Contribution Proposal System (CPS) to the
#ICONProject
community.
@iconosphereprep
has been excellent to work with 💪
#Governance
$ICX
Genuine adoption of the ICON Public blockchain, verifiable on chain. Top university in Korea issuing immutable degrees using blockchain tech.
$ICX
#ICONProject
#ICONSpartans
On August 29th, POSTECH issued a degree program to 293 graduates such as Bachelor's, Master's and Doctorate, and Graduate Institute of Ferrous Technology (GIFT), through the blockchain certificate service '
#broof
'.
Nice to see $ICX and
@helloiconworld
included here. We're building a web of blockchains with BTP,
@MoonbeamNetwork
included, which will broaden DeFi use cases of all networks involved.
Looking forward to collaboration with
@BalancedDAO
and MoonBeam DeFi products.
.
@MoonbeamNetwork
has recently finished the launch progress of
@MoonriverNW
on
#Kusama
🚀
Thanks to its
#EVM
compatibility,
#Moonbeam
ecosystem is growing every day & attracting many potential partners.
Below are all components in the ecosystem, let's see how impressive it is.
A bond mechanism is coming to ICON P-Rep nodes, similar to how
@tezos
nodes must bond $XTZ. More about why this matters below 👇
TLDR: P-Rep nodes have a much stronger incentive to hold and stake ICX.
1/7
Recently got some feedback from the community that they'd like to hear more about what we're working on. I'll take a stab and share my current workday.
Key takeaway of this thread? $BALN is not some useless token, you become part of the Decentralized Bank of ICON.
Join
@BalancedDAO
and help shape the future of finance. The more you contribute to the project, the greater impact you'll have.
$ICX
#ICONProject
#DAO
#DeFi
According to
@naval
: to get wealthy, own a piece of a business.
You can own a piece of a bank with Balance Tokens.
Balanced is a
#DeFi
platform that operates as a
#DAO
, governed by Balance Token holders. Participate to earn $BALN and help us shape the future of finance.
My favorite trade these days:
- > Deposit USD into Binance US
- > Buy $ICX
- > Withdraw ICX
- > Sell ICX for bnUSD on
@BalancedDAO
- > Lend bnUSD on
@ommfinance
Even when bnUSD yield is at its lowest, still crushing the yield offered by my bank 🤷♂️
Another team showing support to dedicated $ICX stakers with a constant airdrip. DeFi ecosystem coming along nicely. Looking forward to the launch and synergies with
@BalancedDAO
💪🏼
$ICX $OMM $BALN
Omm partners with the ICON Foundation to support the ICON Community Airdrip program, so all $ICX holders can benefit from, and play a role in, its success.
The next step of composability in the
@helloiconworld
DeFi ecosystem is coming.
A proposal is up to add bnUSD from
@BalancedDAO
as an asset to lend/borrow on
@ommfinance
. Discussion link below, vote likely next week.
Big news📢
@NEARProtocol
is working with
@helloiconworld
to integrate NEAR as the 2nd blockchain onto
#ICON
's Blockchain Transmission Protocol.
This partnership allows
#NEAR
to connect with ICON products and infrastructure, as well as
#Polkadot
Parachains
Over 30 comments and over 400 views in less than 24 hours, the
@BalancedDAO
community is straight 🔥.
Active governance is important for the longevity of a protocol, I have 0 doubts we'll achieve that.
$BALN $ICX
Trust-minimized cross-chain bridges, absolutely.
But by end of 2022 it won't be just about wrapping tokens. It'll be about complex, trustless, low-latency cross-chain apps. That's where
@helloiconworld
and $ICX come into play.
Learn more 👇
It's that time of the year again!
I recap how I did on my 2021 predictions:
- Cryptoart
- Prediction markets
- DeFi derivatives
And make my 2022 predictions:
- Vertical specific NFT marketplaces
- Trust-minimized cross-chain bridges
- Investment DAOs
New discussion topic on the
@BalancedDAO
forum. Please drop your thoughts in there. It's about converting most network fees into $BALN prior to distribution.
This announcement shares a broadened scope for
@helloiconworld
in 2023.
In addition to supporting ICONLOOP's BTP protocol development, ICON dev resources will be implementing existing protocols with varying pros and cons, starting with
@cosmos
IBC in smart contracts.
🥂 Happy New Year, ICON Community Members!
As we kick off the new year, we would like to share some reflections on the past year and details regarding our strategic focus for 2023!
🌐 ICON 2022 Recap & 2023 Outlook
Read the full announcement here 👇
From there, it's time to prioritize and implement new features, including but not limited to:
- $BALN / $sICX pool
- Stats page
- Charts
- CMC/Coingecko APIs
- Governance
- Closed loop arb
One thing I love about working on
@helloiconworld
is the inherent collaborative nature of the technology.
We’re building toward a network of networks, a community of communities
Most of you know me as Benny Options, and it's time I step up to Twitter. I'm from NJ, I'm an ex-banker turned blockchain, and I don't beat around the bush. Been following the
#ICONProject
since before ICO. Follow me for $ICX governance, token economics, and
@IcxStation
projects.
Some community members have been wondering "why use Balanced?" They are comfortable with staking rewards, they haven't known anything different.
This is a paradigm shift. It's time for growth, it's time for leverage. Earn $ICX, earn $BALN, join
@BalancedDAO
.
#ICONProject
How do you encourage ICX holders to unstake, many for the very first time? You build a system that helps them do even more with their investment.
Balanced is a one-stop shop for ICX holders. That’s why it’s the decentralized bank of ICON.
$ICX $BALN
#DeFi
#DeFiForTheRestOfUs
This highlights the synergies that could occur between Cosmos IBC, Substrate XCMP, Thor Bifrost and
@helloiconworld
BTP, all interesting solutions. BTP will connect these ecosystems (and more) with one another in a generalizable way. Looking forward to working together
IBC was designed to bridge two cosmos chains. It does NOT work with the greater crypto sphere out of the box. It is possible using a shim layer of some kind, but that creates more complexity and security concerns as each chain is implemented. This is why IBC is NOT chain agnostic
Almost 4M $bnUSD minted in a day, 1% fee to
@BalancedDAO
. I love to see economics and game theory in action.
$BALN holders voted to lower collateral requirements and this resulted in an immediate network fee boost. DAO members vote in their best interest, and it worked.
The Contribution Proposal System is off to a great start, strong participation straight out of the gate 💪
✅31 teams registered to manage it
✅5 proposals submitted thus far
✅250,000 $ICX in available funding
#ICONProject
#Governance
#DAO
$BALN markets are here. Congratulations to all early contributors to
@BalancedDAO
. The community is amazing, the product is amazing, and I couldn't be more proud of everybody involved.
#ICONProject
$ICX
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
Wow the $ICX community has been very overwhelming. I just made one thread and in return, the community is bombarding me with more information than I can absorb! The engagement is unreal.
I've got a decent sized bag now, let's ride it together to ATH again. Cheer 🍻
The long-awaited ICON 2.0 migration is nearing completion, the
@iceblock_chain
continues to progress, & our first BTP integration target to the
@MoonriverNW
parachain,
@KusamaNetwork
, is now complete.
Some good discussion/questions about the economics of $ICX and how the
#ICONProject
thinks about inflation. Here are my responses to questions about supply limits and staking
The Contribution Proposal System is coming soon, targeting first week of February.
Now would be a great time to start discussing proposals on the forum. Looking forward to seeing what the community comes up with
$ICX
#ICONProject
#Governance
Altruistic rebalancing:
Rebalancing will only be triggered by a smart contract owned by the Balanced DAO, not outside arb traders/users. This means all arbitrage profits will be returned to borrowers as a rebate, further lowering the impact rebalancing has on borrowers
I can’t stress how important debt is for the growth of an ecosystem.
Let’s think about what actions an $ICX holder would take if they wanted to invest in something to grow the value of $ICX, before & after Balanced...
Balanced gives $ICX a new role: collateral for synthetic assets, like Balanced Dollars.
bnUSD is always worth 1 USD, so it’s suitable for payments, grants, and as the default currency for apps on the ICON Network.
The more it’s used, the more ICX is removed from circulation...
Not with BTP by
@helloiconworld
. BTP security is not dependent on Relays or trusted (usually unregulated) custodians. BTP is as secure and decentralized as the two chains communicating.
My $USDS is ready from
@Stably_Official
and my $IUSDC is ready from
@Orbit_Chain
, time to earn yield on my stablecoins in my home network
@helloiconworld
, can't wait.
The financial infrastructure of the ICON Republic is nearly complete. Welcome
@ommfinance
.
$ICX $BALN $OMM
1/ Clearing up confusion + Short Update on ICON 2.0
ICON 2.0 is already built and on testnet. No further development needed here. Period.
To launch on mainnet, all data on ICON 1.0 has to be migrated over. Almost 35M blocks have been created so that's A LOT.
I love the
#ICONProject
community. Never have I been part of a community with so much passion, and the upcoming Contribution Proposal System presents the opportunity to harness and focus that passion on initiatives that benefit us all.
$ICX
👋Community! Check out our latest technology update and stay tuned for more info on the Contribution Proposal System in the coming weeks! Additionally, please note that ICON 2.0 migration is moving along swiftly 🛠️ . More updates coming soon 🚀
Attention ICON Developers: Check out the streamlined backend architecture developed by
@geometry_icon
. These guys are backend/devops experts and will make your life way easier, already helped
@BalancedDAO
a ton!
🎆🇰🇷🍾 HAPPY NEW YEAR ‼️
🎇 We want to wish all communities a succesful and interoperable 2022 with lots of good luck, health and joy 🎇
🥂 Here's to all ICONists who continue to believe and contribute to the ICON Ecosystem in every single way!
How I go from earning 0.25% on cash to earning much higher (currently 35.54%).
- I deposit USD on
- I buy $ICX with USD
- I withdraw $ICX
- I sell ICX on
@BalancedDAO
for $bnUSD
- I deposit bnUSD on
@ommfinance