Home Coins ICON (ICX) Introducing ICONFi — A New Crypto Staking and Earn Service | by...

Introducing ICONFi — A New Crypto Staking and Earn Service | by ICONFi | Hello ICON World | Nov, 2020

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ICONFi

ICONFi aims to make crypto simple for beginners to create a more inclusive and diverse ICON community

We’re excited to announce the upcoming launch of ICONFi (https://icon-fi.com/), a new crypto staking and earn service for the ICON community. ICONFi provides an easy solution for ICX staking. In addition, it allows users to earn yields on other crypto assets such as BTC, ETH, and USDT. The service will open in December 2020.

To celebrate the launch and for a limited time, ICONFi is offering a 20% APY fixed-term product on select crypto asset deposits. Please refer to the detailed instructions on our website to become eligible for the promotion.

ICONFi was designed to bridge the gap unfilled by ICONex. Our service brings clear benefits to crypto beginners. It complements ICONex to further create a more inclusive and diverse ICON community.

For crypto beginners, decentralized wallets such as ICONex are a new concept, and hence, challenging to use properly. For example, a countless number of users have lost private keys, keystore files, and passwords, causing a loss of their valuable digital assets. Such experiences turn away new users from owning and growing their crypto assets. ICONFi aims to minimize such friction by providing a secure and simple option for crypto beginners.

In addition, ICONFi is about helping crypto beginners build experience and wealth across a multitude of digital assets. ICONFi is a simple way for crypto beginners to get involved with crypto yield products and services. We believe ICONFi serves as the gateway to ICONex, DeFi products, and everything else that the ICON ecosystem, and blockchain platforms in general, has to offer.

More specifically, here are more details about some of the features and benefits of ICONFi:

Staking is also a new concept for crypto beginners and we want to make it as simple as possible for them to participate in one of the biggest benefits of the ICON network. In addition, the majority of ICX holders enjoy earning staking rewards, but unfortunately, do not vote in a meaningful way. This has resulted in vote stagnancy concerns and debates within our community. ICONFi provides a simple ICX staking feature where votes automatically spread out to the top 100 P-Reps outside of the top 20. ICONFi does not aim to be the solution to the vote stagnancy problem, but we hope it provides some assistance in steering the network in the right direction.

Many users are frustrated with the hassle of manually claiming and re-staking their ICX. Auto ICX claiming and re-staking has been one of the most requested features in the ICON community. ICONFi is making this possible. We believe this feature will help accelerate staking, which helps further secure the ICON network.

ICON is a part of the greater blockchain industry and ecosystem. We want to be supportive and bring attention to partners and projects that are mutually beneficial to the ICON network. ICONFi plans to add new crypto assets to stake and earn in the future.

ICONFi team understands that members of the ICON community often possess various tokens in addition to ICX tokens. We aim to provide earn services that would allow the token holders to be able to grow their assets regardless of the type. Initially we are rolling out savings products for some well known tokens such as BTC, ETH and USDT, and we plan to support other tokens where we see community demand, whether via savings products or staking products. In the end, we would like to service the crypto beginners as a hassle-free, all-in-one wallet which integrates services designed to grow digital assets of all kinds.

ICONFi is a project led by Min Kim, the founder of the ICON project, and Sean Kim, a seasoned expert in financial products and underlying trading systems. The ICONFi team currently consists of fifteen (15) members with extensive background in quantitative trading, asset management, business operations and blockchain technology.

We’re incredibly excited to be launching ICONFi to the ICON community. We’d love to hear from you on how to improve our product and service. Please follow and send us a message on

Thank you,

The ICONFi team

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