Switzerland, May 1st, 2021. Idoneus / IDON has taken two critical steps in further differentiating itself from every other cryptocurrency company in the industry.
IDON Strategically Removed from Public Exchange in Favor of the Secure Trading Platform offered through CoinLock.
Why is this significant?
Public cryptocurrency exchanges are not designed to accurately determine the full value of IDON, a cryptocurrency that is used to purchase millions and deca-millions of dollars worth of assets, goods and services at any one time. Public exchanges only track buy / sell transactions and do not reflect a token’s / cryptocurrency’s utility, what the token can actually be used for, and the sales that occur using a cryptocurrency as a method of payment for assets, goods and services.
In addition to the requirement to track IDON utility and payments, we required (and our token holders expect) an exchange partner that provides discretion, as well as the highest level of security. We have not seen this offered at an acceptable level by public cryptocurrency exchanges.
Additionally, CoinLock understands the holistic approach that is needed to properly evaluate the value of IDON. As a Swiss payment token, the most important aspects are related to what IDON can be used for as a method of payment and the corresponding transactions that occur as a result.
For the above reasons, Idoneus has made the strategic decision to delist IDON from Public cryptocurrency exchanges, in favour of the significant benefits offered through CoinLock.
This reflects the nature of the business in providing owners of significant high-value assets with the best routes to secure full value for their holdings. The move to commit to the CoinLock model provides holders of IDON with greater security, the possibility to trade IDON in ETH and USD pairs as trade depth develops, access to increasingly innovative opportunities to leverage the utility of their token holdings and the ability to send and receive IDON in seconds to anyone in the world without fees.
CEO Jarrett Preston says: “The Idoneus team is confident with this decision. By making this move now, IDON takes another significant step forward toward becoming the preferred medium of exchange for high value luxury assets across the globe.”
Leading Edge & Industry First Approach to Pricing.
Given the issue of how to reflect the full value of IDON into the token price, CoinLock has applied their market-leading experience to develop an independent, algorithmic approach to IDON price discovery and determination.
The pricing algorithm is based on quantitative, verified data regarding real-world movements of value in and out of the Idoneus Ecosystem. The value of IDON will go up or down based on multiple factors. This includes the value of the total portfolio’s token utility either added or subtracted from the portfolio, direct sales, number and frequency of IDON transactions. The value of IDON will never fall below $10.00 per token. All data is transparent, safe from manipulation and provides all stakeholders confidence in the health of the business and the utility of the IDON.
The total portfolio’s token utility is defined as the value of the portfolio where IDON is accepted as the method of payment. For every $1bn in token utility that is added to the portfolio, there will be a $1.00 increase in value of IDON.
The most important aspect is the sales volume that occurs using IDON as method of payment and as such, this will be calculated with a 10x multiplier when compared to adding token utility to the portfolio, as referenced above. As an example, $100M in sales where IDON is used as method of payment will have the same effect as adding $1bn in token utility to the portfolio (a $1.00 increase in the value of IDON).
CoinLock has taken a very conservative approach to the pricing model, which has been designed to promote as much confidence as possible in the Idoneus Economy.