ICONOMI Buys-Back to Create Scarcity

Announcements, FinTech, ICO News, Investing | March 31, 2017 By:

Digital asset management platform ICONOMI has initiated a repayment program that aims to increase the stake every participant has in the company.

The company’s repayment program will purchase ICN tokens from exchanges using returns made via its actively managed performance array and destroy them on a weekly basis. This offers each participant a much larger percentage share of the total ICN token amount.

Up to 1000 ETH will be used from April 1st to June 30th to acquire ICN tokens at market price, which will then be removed from circulation by sending them to an inaccessible smart contract.

“Reducing the circulation creates value in scarcity, and it’s a great way to reward our investors for their continued support,”” said ICONOMI co-founder Tim Zagar. “This will not change the way current ICN token holders can buy or sell on any exchange. The proposal in its simplest form is a new way of rewarding holders of a new asset class, the ICN token. We will put this proposal to the community and we will await their feedback.”