Cryptocurrency News Now!: [Issue #2] ICON Newsletter: Keep Calm and Stake ICON

Monday, January 20, 2020

[Issue #2] ICON Newsletter: Keep Calm and Stake ICON

By ICON Newsletter • Issue #2 • View online

Dear ICONists,

Last week, we discussed ICON's ecosystem on the surface including enterprise adoption and community contribution. We had an extremely positive response from our community. If you missed it, be sure to catch up on our Issue #1: Our Fast-Growing Ecosystem.

This week, let's go beneath the surface and dive into staking and rewards. ICON Incentives Scoring System (IISS) is the technology that powers the entire ICON ecosystem through the staking and reward mechanisms. IISS is what incentivizes new development and activities in the network. And, if you've been away, you'd be pleasantly surprised about everything happening on ICON today.

Thanks,

Min Kim, ICON Foundation Council

Best DPOS blockchain in the market

We believe we've built the best Delegated Proof-of-Stake (DPOS) blockchain in the market today. But, don't just take our word for it.

Michiel Mulders, a blockchain developer and writer who worked with BigchainDB, Stellar, Hyperledger Fabric and Ethereum, compared some of the best-known DPOS cryptocurrencies on the market today. Check out how ICON compares to EOS, Tron, NEO, and Cardano below:

ICON

Decentralization: 4/5
Rewards: 4/5
Community Contribution: 3.5/5
Incentives: 4.5/5

EOS

Decentralization: 1.5/5
Rewards: 1/5
Community Contribution: 2.5/5
Incentives: 1/5

Tron

Decentralization: 2/5
Rewards: 4/5
Community Contribution: 2.5/5
Incentives: 2/5

NEO

Decentralization: 1/5
Rewards: 2/5
Community Contribution: 2/5
Incentives: 1.5/5

Cardano

Decentralization: 4/5
Rewards: 4/5
Community Contribution: (To be determined)
Incentives: 4/5

As mentioned in the last newsletter, we believe our 'Community Contribution' has increased significantly, which happened after this article was written. You can read the full article below.

A Deep Dive Into DPoS Platforms' Game Theory & Incentives

Comparison between EOS, TRON, ICON, NEO and Cardano.

hackernoon.com • Share

Attractive Real Yield %

According to Staked.us, ICON (ICX) has a 9.7% Real Yield, making it one of the most attractive cryptocurrencies to stake. This is above many other respected cryptocurrencies including Cardano (ADA), Tezos (XTZ), and Cosmos (ATOM).

Real Yield takes inflation into account when figuring out the best reward rate for staking. One of the big misconceptions has been that ICON's inflation rate is high. However, Real Yield % provides an apples-to-apples comparison.

ICX circulating supply is at ALL-TIME LOW

Changju Lee, or better known as Dr. ICON, is a real doctor with a Ph.D specializing in quantitative analysis of financial data from Seoul National University. He's been closely monitoring ICON's economic activity since we launched staking ~4 months ago.

Although current ICX circulating supply is 515.8 million, the Real ICX circulating supply which takes account of staked ICX is 312.8 million ICX.

Dr_ICON

@Dr_ICON_Lee

The amount of ICX available in the market is keep decreasing and it is lowest ever. (Circulation amount - Staked amount). https://t.co/41JdykuRLb

12:01 AM - 14 Jan 2020

Stronger-than-expected ICX reward re-staking

This may be obvious, but real ICX supply continues to fall because we are observing strong re-staking activities. We believe this shows confidence in the future of the ICON ecosystem as more and more ICONists are choosing to re-stake their rewards. This is a stronger-than-expected result than what our team estimated in our original model. As Dr. ICON puts it, "This is very good!"

Dr_ICON

@Dr_ICON_Lee

For last 6 consecutive weeks, the total staking amount has been increased more than 2 million ICX each week. In total of more than 12 million ICX has been staked. Increase in staking amount is larger than reward! When people get rewarded they are re-staking! This is very good!

11:48 PM - 13 Jan 2020

High incentives for social engagement

As more ICONists stake ICX, the stakes definitely get higher. We believe this leads to more ICONists driving social engagement as evangelists of the project. Our community sentiment is positive once again.

LunarCRUSH

@LunarCRUSH

4/4 ICON social engagement has spiked multiple times this week to as high as 682,704 unique engagements (likes, retweets, comments, follows, etc.) within a single hour. https://t.co/GUzBk69kCS $icx @helloiconworld https://t.co/OogfLatvhS

11:54 AM - 14 Jan 2020

Growth in the numbers

Although ICON may not be the biggest of the blockchain projects, our numbers are trending the right direction. We are experiencing more users and transactions than ever before. The ICON team is obsessed with creating a sustainable growth engine by continuously improving on user engagement numbers.

blockmove

@eublockmove

#ICONProject 🔗processed more transactions on the last day of 2019 than it did in the whole year of 2018. We can't even imagine what 2020 is about to bring! 🚀🪐 https://t.co/QKPjRXwuJj

10:13 AM - 2 Jan 2020

Guides to Staking

If you are interested in staking, there have been many guides published by our community members. And if you have any questions, our community on Forum, Telegram, and Reddit are here to help out.