ICONOMI effect on Dash

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DashEcon101

New member
I'm currently invested in ICN and I was pondering what their ICNX fund will mean for Dash. ICNX is the first index fund in the cryptospace that is managed and essentially invests in the top 10 crypto currencies.

Currently ICNX is only available to those in the ICN crowdfund and currently have access to the ICONOMI platform of DAAs.

ICNX will be a primary vehicle for people to participate in 95% of the crypto space by only investing in a single ETF type vehicle. Currently 12% of funds funneling into ICNX are invested in Dash. The interesting thing is that the ICNX fund managers are not going to sale their Dash holdings because it's written in the funds rules that they will hold the top crypto relative to their market cap with a 15% cap on any one crypto.

The more I thought about this and that we have 4,000 masternodes holding 4,000,000 dash and now ICNX is about to hold even more Dash this could really restrict the available amount of Dash available to trade.

I don't think it's unreasonable due to diversification and people's fear of holding a single coin that INCX is going to have a large sum pass thru it. ICONOMI also has a fiat onramp and ICNX is going to fill a void think bitcoin ETF that was rejected by SEC. we could see billions of dollars from outside crypto space flooding in to crypto via the new ICNX fund "its safer".

My point is, if 2 billion makes its way to ICNX 12% or 240,000,000 will find its way to Dash and those Dash will be no longer traded. At $100 a Dash 240,000,000 will buy 2,400,000 Dash, which will only leave roughly 1,000,000 to be traded where today there are 3,000,000. This could create huge price appreciation.

What are your thoughts?


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i would let this play out as is
we already have 4 MILL + tied up in MN's and that is already a "test" in the making (how much can you deflate your own market)
to tie up another 2.4 Mill .... is too much ... i would not mess with that and let run as is
 
tungfa said:
i would let this play out as is
we already have 4 MILL + tied up in MN's and that is already a "test" in the making (how much can you deflate your own market)
to tie up another 2.4 Mill .... is too much ... i would not mess with that and let run as is
Click to expand...

I don't understand when you say "I wouldn't mess with that"? Nobody can "mess with it" it's going to be a natural outcome if ICNX. Nobody can stop ICNX from purchasing Dash. However I'm not saying this is a bad thing I think it's a good thing.


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Interesting...how large is the ICNX fund? It looks like Iconomi has a marketcap of $35 million...so they have $35 million invested in the top 10 cryptos? How does that work?
 
David said:
Interesting...how large is the ICNX fund? It looks like Iconomi has a marketcap of $35 million...so they have $35 million invested in the top 10 cryptos? How does that work?
Click to expand...

No ICNX is a fund that sits on the ICONOMI platform. ICN has the 35 mill cap and its ownership of the platform. The ICN token will receive a percentage of all vested dollars on the ICONOMI platform. The platform will have 100s of funds before it's over. Anyone can start a fund on the platform and others can invest in their fund.


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Currently their are only two funds on the platform ICNX and ICNP and they are ran by the ICONOMI team. ICN is the ownership token in ICONOMI.


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