When investing in digital currencies, I like to do my due diligence in research. I recently decided to write coin companies and ask them questions about their businesses before I start throwing money in.
Today's post was a response from ICONOMI.
Here’s what I asked!
I’m an investor and I hold ICN. I understand you’re buying back ICN Tokens with your company profits.
I’m looking for stats.
· Since you started buying back ICN tokens, how many tokens have you bought back?
· How many buybacks do you average per quarter?
· Are you expecting buybacks to increase?
· What else can you tell me about the buyback process?
I, then, decided get brutally honest
“I’m debating what to do with ICN, buy more or run!” Please, I need information to make the right decision.
Here’s what they said.
Iconomi’s response
Dear ,
Please find additional information about Repayment program here:
https://medium.com/iconominet/iconomi-introduces-repayment-programme-54bfa449d458
https://medium.com/iconominet/iconomi-financial-report-q1-2017-a1b9dff59e2c https://medium.com/iconominet/iconomi-financial-report-q2-2017-dced466c67e8
https://medium.com/iconominet/iconomi-financial-report-q3-2017-45dc25f30730
The token burn smart contract can be viewed here:
https://etherscan.io/address/0x0006157838d5a6b33ab66588a6a693a57c869999#tokentxns
We buy ICN tokens constantly, we burn them at the of each Q.
With kind regards,
Customer Support
My Feelings
Their response was quick under 24hrs and they provided me with enough material to continue to DO MY HOMEWORK!
The truth is I actual believe Iconomi is a great company with a good funds! But the point of this research was to calm myself down because of the falling token price.
I also thought that providing the the token burn smart contract was cool! Now I can see what Iconomi is buying! In the end, I decided to buy more, at 0.93. A STEAL!!!
Hope this helps! All the answers to all of my questions are in the links above.
Remember, continue Doing Your Homework!
Cryptogoodness
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