Switzerland, May 1st, 2021. Idoneus / IDON has taken critical steps in further differentiating itself from every other cryptocurrency company in the industry. The Idoneus Executive Team decided that IDON will derive its public price via an algorithmic approach and has delisted it from public exchange.
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 and compliance, as well as the highest level of trust and security. We have not seen this offered at an acceptable level by public cryptocurrency exchanges.
Additionally, it is understood that a holistic approach 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 an algorithmic pricing model that is based on movements of value in and out of the Idoneus Ecosystem.
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 algorithmic model provides holders of IDON with greater security and access to increasingly innovative opportunities to leverage the utility of their token holdings.
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, Idoneus sought an independent third party with market-leading economic experience to develop an algorithmic approach to IDON price discovery and determination.
The IDON 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 algorithm also ensures that the value of IDON will never fall below $10.00 per token within our ecosystem. 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).
We have taken a very conservative approach to the pricing model, which has been designed to promote as much confidence as possible in the Idoneus Economy.