Dear ICONFi users,
With the recent series of issues in the crypto market, the ICONFi team is sharing the following short FAQs to address concerns raised due to the recent issues and incidents of other platforms and projects in the crypto industry.
- Does ICONFi have a partnership with Celsius?
ICONFi has no exposure to Celsius and has never made any partnership with it. ICONFi has ZERO exposure to stETH, either as principle or as collateral. The ICONFi team continues to operate under a comprehensive risk management framework that allows all services to operate seamlessly. ICONFi users will continue to receive the same uninterrupted services for compounding interest and auto-staking features, as expected.
2. How does ICONFi manage assets?
ICONFi’s asset management team leverages technology, research, and risk management to identify strategic market opportunities, employing various strategies including both arbitrage trading (using both spots/futures), and specialized algorithm trading creates enhanced yields. The ICONFi team has deep institutional experience managing capital across digital asset classes both directly and indirectly, strong relationships with institutional service providers and counterparties, and exceptional connectivity throughout the broader digital assets ecosystem.
3. How does ICONFi give staking rewards to the users?
Staking mechanism complies with the mainnet network policies. ICONFi does not charge any fee on staking, but the mainnet imposes the network fees. The reward on each coin is as follows, and reward rates would change depending on the mainnet’s overall staking condition: ICX: 7.98% / BAND: 10.4% / NEAR: 10.37%. ICONFi takes no profit out of providing staking services — it simply wants to help the ecosystems grow further, becoming the best contributing validators.
4. How long does Unstaking take? (ICX/ BAND/ NEAR)
It is also the mainnets who decide the unstaking period. The completion period of unstaking is as follows: ICX: 6 days / BAND: 21 days / NEAR: 3 days.
Questions?
If you have any questions or feedback, please open a ticket at #support channel on https://discord.gg/YdWsjaW8Eh.
About ICONFi
ICONFi is a digital asset savings platform that provides simple and intuitive earn products so that anyone can easily multiply crypto assets. ICONFi aims to simplify the complicated processes often associated with crypto assets and offers a sleek, straightforward user interface which supports saving, staking and airdrop activities at the palm of your hand.
