The book value of ICONOMI at the end of Q2 2017 reached $108,549,800.00 and represents an approximate increase of 402.4% in the quarter. The crypto market environment was overall very favourable in the second quarter. A large boost to ICONOMI’s assets also came from Cofound.it token sale, where ICONOMI received 10% of total CFI token supply, corresponding to $8,621,000 at the end of the second quarter.REVENUES
The revenues made in Q2 amount to $196,996. These revenues consist of:
· ICNX-Passive DAA entry/exit and management fee: $13,373
· ICNP-Managed DAA profit fee: $180,423
· ICN and CFI withdrawal fees: $3,200
Note that revenues presented are in USD equivalent, whereas structure consists of tokens such as BTC, ETH, ICNX, ICN and CFI. ICNP sold 2398 units of GBYTE and received 3,059 ETH in Q2. Since GBYTE acquisition was free of charge, all sale proceeds represent realised profit and 20% of this profit is distributed to ICONOMI as a performance fee. ICNX, while still being in beta in Q2, collected $13,373 in fees, which includes a 3% annual management fee and an entry/exit fee of 0.1%. There are additional revenues of $3,200 in this period generated by platform withdrawals.EXPENDITURES
Expenditures in Q2 2017 totalled $646,912. This includes salaries for 30 employees. In addition to this, we have 4 external associates and other partners. There are also legal costs, marketing costs, rent, equipment and travel expenses.REPAYMENT PROGRAMME
In Q2 we concluded the repayment programme by buying and burning 99,305 ICN tokens using 1.000 ETH. The total amount of ICN tokens outstanding at the end of the quarter is thus 99,900,695. In Q3 we are continuing with our repayment programme using revenues generated in Q2 which amounted to $196,996 or 668 ETH. This amount equals 20% of realised profit made by ICNP in Q2 and fees generated by the platform. The token burn smart contract c...