ICONOMI Tokens to Become Securities

ICONOMI is going to become a fully regulated professional provider of virtual financial assets
27 September 2018   5349

ICONOMI announced a change in the corporate governance model and the release of security tokens.

The company's blog notes that ICONOMI is striving to become a fully regulated professional provider of virtual financial assets. Currently, the company expects to receive an appropriate license from European regulators.

To realize the set goal, the company needs to change the ownership structure. Also, in order to unify the corporate structure, the project intends to unite the service operator and the platform.

From November 1, ICONOMI (ICN) token holders will be offered to convert coins to tokenized shares under the eICN ticker, or exchange them for Ethereum (ETH). The latter will be used on a platform to pay commissions to fund managers.

The first stage of the transition period will end on December 31, and the process of tokenization ICONOMI starts in the first quarter of next year. The new joint-stock company (ICONOMI AG) will be registered in Liechtenstein. The cost of one share will be 1 Swiss franc.

Verified platform users can become shareholders of the new company. The exchange of ICN for security-tokens ICONOMI AG will last until December 31 of this year. On the same day, the utility-tokens ICN will cease to exist.

The holders of eICN tokens will have the rights of corporate governance and, accordingly, will be able to choose the members of the board of directors, vote for changes to the charter of the company, and so on.

Additional information about the process of transformation of the company and its tokens will be published before November 1, 2018 on the ICONOMI blog.

OCamlPro May Implement Unplanned Tezos Hardfork

Anyone can fork Tezos' blockchain but Foundation says "OCamlPro management does not have the best interests of the Tezos community in mind"
18 June 2019   304

The non-profit organization Tezos Commons Foundation has published an official statement about a potential hardfork, which may be initiated by the French development team OCamlPro, the company's grantee.

As evidence, the organization published the text of an e-mail allegedly sent by Starchain Capital, a recently registered cryptocurrency fund.

According to the document, the management of OCamlPro and Starchain Capital announced a collaboration to develop and implement a fork of the Tezos blockchain called Dune Protocol in September 2019. The letter also says that Starchain Capital is attracting “investments to finance a separate project.”

Representatives of Tezos recalled that the blockchain can hold forks anyone. The problem, according to them, is the “OCamlPro management does not have the best interests of the Tezos community in mind".

We found the text also includes a number of inaccurate (to put it mildly) statements that are intended to exaggerate the position of OCamlPro leadership. They did not create OCaml, Fabrice was not the ‘teacher’ of Tezos co-founder Arthur Breitman, and the main Tezos engineers who were originally at OCamlPro are now working at Nomadic Labs, not OCamlPro.
 

Shaun Belcher

Executive Director, Tezos Commons Foundation

However, confirmation of whether the letter is an original or a fake has not yet been submitted.

OCamlPro participated in the Tezos grants program and worked on projects, Liquidity and TzScan. However, OCamlPro refused to fully disclose the code of their products, which is one of the conditions for receiving grants. Tezos Foundation announced the termination of funding OCamlPro in case of non-compliance in the second quarter of this year.

In March, the Tezos blockchain project completed the first round of voting for proposals for updating the protocol. The winning bid was ‘Athens A’, which received 18,181 votes.