What is iCumulate?
Whether by receiving information quicker, researching opportunities better or just discussing various alternative opinions, people quickly realized that the benefits of social interaction whilst investing, are amplified when using the wisdom of the crowd.
It is into this established community that digital currencies and asset tokens are starting to deliver a long awaited source of alternative investment. These assets are now also at the embryonic stages of stimulating interest within the much wider social audience as the world starts to understand the possibilities of blockchain technology and the potential growth of the companies that are built on it.
We believe that in combination with the above factors, the potential for a modern social trading platform is enormous. This is why we are creating iCumulate.
We are creating a semi-decentralized social investing platform. Blockchain technology is used throughout to add transparency, reliability and immutability to many of the platform features, which currently do not exist in a trustless form elsewhere. Some components of the investment cycle, such as execution speeds and transaction costs, are not suited to the current limitations of distributed ledger technology. These tasks will be performed off chain using the same secure, trustless principles found in side chains and state channels.
The iCumulate ecosystem is a multifunctional investment platform bringing like-minded investors and traders together into one social environment.
The ICU utility token is the required fuel to participate in the platform features, from obtaining the right to publish a followable investment portfolio, strategy signal and report, to achieving reduced commissions on platform applications and demonstrating skills and talents in prize competitions.
iCumulate will be supporting the stability of the token by using a portion of net platform profits on an aggressive buyback and burn program at regular, predetermined intervals.
iCumulate will use these profits to purchase ICU tokens in the open market. The purchased tokens will then be immediately burned. This powerful market mechanic of simultaneously buying and reducing the circulating token supply of ICU, can have the effect of supporting the ICU token.
We also reserve the right to buy ICU tokens in the open market at our discretion to induce stability should the value of the token become undervalued.
A working demo showing initial design ideas and functionality is available on the website.