⌞ Authentic German Project, valued at 470 million ICN, important information update ⌝

The positioning of ICN is a decentralized cloud server, originating from the engineering holy land of Germany. At the end of last month, the latest funding was announced, along with the release of the token economics, which I believe is very important.

Below I share the funding and token economics interpretation from @ICN_Protocol.

🚀 Funding Situation

Officially announced funding from US NGP Venture Capital, valued at 470 million USD.

🔹 NGP Capital is a venture capital company founded by Nokia, known in the industry for precise early investments. It invested early in China's Xiaomi, and Lei Jun personally wrote an open letter of thanks.

I have always believed that institutional background research is much stronger than individual efforts. My impression is that traditional tech giants are venturing into blockchain companies for the first time this year.

It has been proven that ICN's business model has gained recognition from traditional large companies. Decentralization is the future and unstoppable.

🎯 Introduction to Token Economics

🟡 Token Utility

$ICNT is a utility token, not just a worthless governance token. Users must use this token to pay for ICN's cloud service functionalities.

This entity could grow to become the largest cloud server provider, challenging Google Cloud, Tencent Cloud, and AWS; just give it some time.

🟢 Airdrop Quota

I am most concerned about airdrops. The document states that the “Reward Reserve” is used for community incentives, with a total of 10%, including the amount for airdrops.

🔸 I previously researched social zero-cost participation, galaxy tasks, official website tasks, etc., to participate in airdrops. The specific interaction steps can be found in the following link:

https://t.co/TXca44LP2x

🟠 Initial Allocation

7 million tokens were minted at TGE, and another 30 million can be minted within 5 years. Initially, only the “Reward Reserve” of 10% is in circulation.

Team 22.1%

Investors 21.5%

DevCo (Development Company) 5.4%

Ecosystem Development Fund (EcoDev) 10%

Partner Fund 11%

Node Sale 20%

Reward Reserve 10%

🟣 Burning Mechanism

In this initial stage, the main focus is on network growth, decentralization, and incentivizing participation.

The official explanation states that there are no plans to burn tokens in the first phase, but partial destruction of the ICN treasury may be implemented in the mature phase.

⭐ Industry Comparison

The ICN network operates in the cloud server track, which broadly belongs to the Depin track. I found three renowned Depin projects for comparison:

Storage Filecoin, Computing Power Akash, Graphics Card Computing Power Aethir.

I compared the token economics of these four and found two issues, which I'll state directly:

🔸 ICN team allocation is 22.1%, which is quite high, and there will be significant market pressure from sell-offs after one year (other projects are around 15%).

🔹 Ecosystem development accounts for 21%, which is also high, indicating a clear intention to expand and capture the market (other projects are around 15%).

I feel that this German team's approach is well aware that they are a startup project; it's either success or failure, with no middle ground to survive in.

ICN clearly outperforms Filecoin/Akash/Aethir in team shares, partnership funds, and corporate market expansion. I feel they are determined to either become the world's largest decentralized cloud server provider or fail.

🫡 There’s a courageous determination to cut off retreat, which is interesting.

✅ Summary

Participating in airdrop interactions is essentially being involved in the earliest stage of a startup project; once the project issues tokens, ongoing operations are needed for survival, ultimately aiming to grow into a practical company. These processes require a long journey.

So I understand why the rewards for participating in airdrops are high, because we are, in a sense, early angel investors in the project. High risks should bring high rewards, no problem with that.

If in five years, projects I have participated in grow into real giants, I feel that’s impressive, and I can brag about it for a lifetime.

I'll tell my kids about it later; it’s worth it. 🫡

Attachments*

1) Funding Announcement

https://t.co/zecIGjtFSe

2) Token Economics

https://t.co/ROpgRfZdjj

#ICNTWorldDomination

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