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ICON (ICX) ICO Review – ICO Token News

ICON PROJECT: Token Sale / Decentralized Blockchain

Overview

The INCX Platform will allow users to trade cryptocurrencies (BTC, ETH, LTC, BCH, etc.) on a crypto to crypto model, and will strive to incorporate fiat (USD/GBP/SGD/CAD/AUD/JPY/EUR) to cryptocurrency purchases on the INCX Platform, subject to regulatory environment, and listing of new tokens pursuant to Initial Coin Offerings. InternationalCryptoX is also offering INCX coins (“INCX Coin”) in a token crowdsale for the purpose of trading on the INCX Platform. The vision of InternationalCryptoX is to develop a platform that not only allows individuals to trade cryptocurrencies, but also facilitates ease in transfers and information dissemination. The INCX Platform will enable users to easily manage all their wallets and passwords by implementing a user-friendly and secure global address book, thereby providing ease of use to users. Further, the INCX Platform will provide end-to-end automation for trades and provide essential information regarding the mobility of cryptocurrencies traded, liquidity of such currencies listed for trading, and other ancillary information such as P&L statements developed by leveraging APIs with domestic and international business partners. InternationalCryptoX has been formed to develop the INCX Platform. Many of our founders and advisors have extensive international technology experience and a proven track record in building high-volume, data-driven secure enterprise platforms.

THE INCX VISION

Our vision for INCX is to see millions of people make billions of crypto transactions – by purchasing and trading in the Crypto markets – more quickly, more easily, and with the highest level of security protection. Information on transactions and coins should be, at the most, a click away. It is our mission to enable users to enter the crypto-markets, and we plan to achieve this by simplifying the purchase of cryptocurrencies. We intend to make our mobile and web applications the easiest way to purchase cryptocurrencies with fiat and exchange cryptocurrencies. The INCX Platform will feature a central information hub where users will receive any crypto-media they may need for participating in digital currency and blockchain projects. In short, we will tackle userlimitations by building the one and only platform that has everything that crypto-enthusiasts will ever need. We plan to overcome developer tool limitations through the creation of Software Development Kits (SDKs) which will allow our mobile and web apps to make use of decentralized applications. The true growth potential of the cryptocurrency world becomes obvious when observing the facts. The number of Blockchain wallets has been growing since the creation of the Bitcoin virtual currency in 2009, reaching almost 24 million Blockchain wallet users at the end of March 2018.4 Assuming this to be true, the current number of unique active Asian users of cryptocurrency wallets is estimated to be between 15- 20 million, which represents less than 1% of Asia’s population. The full potential of the crypto-markets (Asian & Global) clearly remains largely untapped at the time of writing this Whitepaper. With community support and ICO funding, the InternationalCryptoX team plans to push the number of active users in Asia to the fullest potential – to over 20 million in the first two years of the INCX Platform going live, by enabling a whole new wave of crypto-enthusiasts who are waiting for a simple, yet, scalable platform, to help them easily convert fiat into cryptocurrency.

INCX Architecture

INCX is being built as a distributed and sharded system which, through the use of microservices-based architecture, can be scaled infinitely. Our team has experience in successfully building high throughput, low-latency systems at industrial scale, including experience building industrial internet, IOT and other scalable secure big platform applications, and have patents filed for the same5 . We plan to utilize this wealth of technical experience and intend to design the INCX Platform to feature low-latency data stores and a caching mechanism to deliver high performance and avoid single points of failure. The INCX UI will be highly responsive and give instant feedback to users. This architecture will be similar to that of Web 2.0 companies such as Google, Amazon, and Facebook that have horizontally scalable systems.

INCX COIN

We intend to introduce the INCX Coin, which will be a utility token and is intended to be used as the medium of settlement of transactions within the trading platform. INCX Coin will be used to pay for all fees on the platform – exchange fees, withdrawal fees, listing fees and other fees as applicable. The trading fee structure using INCX Coin will be very competitive. When trading with INCX Coin, there will be only a flat 0.1% fee, which is a 50% discount on each trade, during the first year. This fee will be one of the lowest fees in the industry. This coin will have the usability to pay any kind of fee incurred on the exchange. If a user pays using INCX Coins, the user will receive a 50% discount on these fees during the first year, a 25% discount in the second year, and a 10% discount the third year. InternationalCryptoX will also offer exchange users a one-of-a-kind special offer. Exchange users who hold 750,000 or more. INCX Coins in their account will not be charged any fee for trading. These holding numbers are subject to change and will be reviewed and revised after 1 year of platform launch with respect to special offer participation numbers and market conditions. We aim for the INCX Platform to eventually become a decentralized exchange as and when the technological capabilities support such a transformation. At that time, INCX Coins will be used as one of the key base assets as well as gas to be spent. To know current trend of ICOs, you can check ICO stats.

Token Sale

434,285,714 (43.43%) to be sold in the token sale. 400,000,000 to be retained as InternationalCryptoX reserves for allocation to founders, team, advisors, data providers and other partners and released for purchase from time to time depending on demand. Maximum of 16% (160,000,000) will be allocated to founders, executive team and advisors.  InternationalCryptoX reserves are locked up for a period of 8 calendar months, commencing from May 2018, and may be released in phases only after the completion of the aforementioned 8 months’ period. Further, no more than 25% of the total tokens issued by InternationalCryptoX pursuant to the INCX Coin sale may be transferred/released by InternationalCryptoX, from its holdings, in any calendar year.

Team

  • Sanjoy Gaddipati
    Sanjoy Gaddipati
    Sanjoy Gaddipati
    CEO & Founder
  • Preetam Kothapally
    Preetam Kothapally
    Preetam Kothapally
    COO & Co-Founder
  • Sudheer Kuppam
    Sudheer Kuppam
    Sudheer Kuppam
    Co-founder
  • Ajay Gaddipati
    Ajay Gaddipati
    Ajay Gaddipati
    Co-founder
  • Himagiri Mukkamala
    Himagiri Mukkamala
    Himagiri Mukkamala
    Co-founder

Milestones

  • 1
    2018
    Q3-Q4
    Basic Exchange Release (Beta)
    Forex Integration
    KYC/MFA
    Fiat and INCX to Crypto Trading
    API Support
    Transaction Records
    InfoHub Release
  • 2
    2019
    Q1-Q2
    Exchange Release - GA
    Payment Gateway (Credit Cards)
    New Token Listings (Top 25)
    lnfoHub,Second Release
    Virtual Portfolios
    Advanced Token Analysis
    Scale & Performance Enhancements
  • 3
    2019
    Q3-Q4
    Rich User Profiles, Chat Rooms
    Simulation & Strategy Support
    Hardware Wallet Integration
    Audit & Regulation Enhancement
    Reporting & Docs Enhancements
    Community Driven ICO Program
  • 4
    2020
    Q1-Q2
    Chatbot Support
    DEX Support
    Trading Bots
    Margin Trading Support

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