We are developing on Gitlab for internal uses. It is because currently ICON is being used by actual institutions, and opening the related sources is concerned to their intellectual property rights. We need some time to sort this part out from the rest and make it open sourced and update to github. We will soon open our technical development community and start to develop on the basis of github completely.
This all started out with this GitHub Thread where COMSA uses 18 decimals, a bad Infura API request that was supposed to return error, but instead it returned 0 and caused wrong price calculation . A temporary patch was to disable all decimal 0 tokens on ED.
ICX has been 18 decimal places all this time, a verification of that is from your own watch token, where you input 18 decimals and your ICX holdings will come out correctly. (if ICX really uses 0 decimal, we’re all super rich now, 18 more zeros to your ICX holdings :P)
A member further did an experiment with sample ABI definition from OMG, found here https://pastebin.com/raw/MuFykeJZ where ‘totalSupply’ happens to return correct value and that ‘decimal’ returns ‘0’. This is however very misleading, as if you checked all other functions, they either return null or 0.
The reason why contract writers need to provide both contract address and ABI is because method IDs are computed using a hash function, so the sample would be random matching by hashing the function names and see if there’s a match in method ID.
A further demonstration, if we look for the tuple with Decimals, this variable can easily be changed to an arbitrary name and will still return 0. This is because 0 is the default value, it is a non-match, not actually returning 0 to ‘Decimals’.
For those unfamiliar, OKCoin was the #1 cryptocurrency exchange in China. It supported fiat pairs and was actively competing for the no.1 spot in terms of trading volume globally, against other fiat exchanges such as Bithumb and GDAX. Since the China ban (first fiat pairs then total exchange ban), OKcoin has shifted its operation overseas, starting with token pairs only (apparently again w fiat pairs now), and renamed itself to OKEx. It has climbed its way back up to a #7 global exchange (1B daily trading volume), in a period of 2 months. Getting listed with them is an extremely difficult task, requiring full regulatory compliance as well as high daily trading volume. They also investigate project details, team composition, ICO structure and audit top token holders and their vesting periods.
Min Kim was interviewed at Blockchain EXPO, towards the end of the interview he revealed that mainnet and DEX are expected to be released around middle of December, this collides with token unlock schedule, so we’re now speculating that ICON will simply swap our ERC20 tokens to ICX and distribute to ICO participants. You can check the interview here.
[Update: 2017/12/5 Min Kim has answered in our telegram channel]
Regarding mainnet: Internally, it’s end of Dec. Are we ahead of schedule, behind schedule…I’m waiting as well
Regarding tokens: Tokens will be released ahead of time. If everyone submitted KYC in time and didn’t beg us for more time, it’s be out already. We know stuff happens. We are doing best to accommodate everyone.
So we may see ERC20 tokens prior to mainnet ICX swap.
[Update: 2017/12/6] Min Park also confimed token release
Token release will be before the Mainnet. We’ll provide more detailed schedules soon!
[Update: 2017/12/13] Min Kim summarized the current events in the channel
1. Testnet is running
2. Mainnet should still launch end of this year according to CTO
3. Mainnet launch event date was supposed to be announcement yesterday but we couldn’t confirm venue
4. Refunds should have been processed.
5. ERC20 Token unlock should have a date once our exchange partners give us a date. We are ready.
[Update: 2017/12/13] Gail Kang double confirmed Min’s remarks earlier but added one extra crucial information
ERC20 Token unlock should have a date once our unlock list is double checked. We are ready to unlock within couple of days.
So we’re expecting tokens unlocked in a couple of days!
[Update: 2017/12/15] Another update from Min Kim
When unlock? Well all distribution done, all refunds done, make sure we take of all hacked wallets, exchanges give greenlight = When we make an official statement that we’re good to go. Nobody want these unlocked as much as we do.
[2017/12/14] Min Kim has personally come to the channel to address this issue
I called an emergency meeting today to address “bad communication.” We are working to fix w
1. Clearer communication w/date and details
2. Setting up official FAQ
3. 24hr email response time
4. Hiring 2 interns – Bascially done some reorg.
Hopefully things will get better. Still looking for quality permanent employees.
The ban is imposed on future South Korea based ICOs, while ICON is incorporated in Switzerland and that its ICO ended before the announcement. So in short, the ban does not impact ICON. We also learned that the ban is not effectively immediately, unlike China, such law will take time to legislate. Here’s a follow up news on Forbes – South Korean Startups Are Preparing To Fight The Government’s ICO Ban Expect a formal response to this ban from ICON team shortly after.
[2017/10/13] The team has posted a follow up to ICO regulation. Korea’s ICO Regulation Update.
Min Kim has told us that they’re in the process of setting up an official FAQ, stay tuned for that! Meanwhile, you’re stuck with this unofficial FAQ and the FAQ bots in the channel 😉
ICX can be issued UP to 20% of total volume annually, this is the cap, not a fixed rate. Rights granted to ICON republic nodes to redeem ICX are based on IISS score (ICON Incentives Scoring System), an artificial intelligence evaluation system built by DAVinci. For full explanation please check pg. 30 of the whitepaper.
HitBTC offers IOUs (I owe you), as a form of futures token, where a contract is commited at present and honored after tokens get unlocked and become tradable. Current tradings on the platform are in forms of IOU so the reserve will remain the same, provided by hitBTC, while buyers and sellers can trade on these IOUs. Since current trading volumes are low and that it isn’t exactly a market per se before you can transfer in your own tokens, so don’t read too much into the numbers, view it as a bullish/bearish indicator only. The exchange listing can be found here HitBTC ICX-to-USDT .
At high level, ERC20 standard specifies how tokens can be transferred and getting data about token as well as events about the token.
You can essentially transfer your tokens, you can approve someone to take some number of your tokens and transferFrom you to someone else, and if you approve the contract, it’ll be executed. You can check their allowance after approve someone.
TotalSupply[Get the total token supply]
BalanceOf(address _owner) constant returns (uint256 balance) [Get the account balance of another account with address _owner]
transfer(address _to, uint256 _value) returns (bool success) [Send _value amount of tokens to address _to]
transferFrom(address _from, address _to, uint256 _value) returns (bool success) [Send _value amount of tokens from address _from to address _to]
approve(address _spender, uint256 _value) returns (bool success) [Allow _spender to withdraw from your account, multiple times, up to the _value amount. If this function is called again it overwrites the current allowance with _value]
allowance(address *_owner*, address *_spender*) constant returns (uint256 remaining) [Returns the amount which _spender is still allowed to withdraw from _owner]
Transfer(address indexed _from, address indexed _to, uint256 _value). [Triggered when tokens are transferred.]
Approval(address indexed _owner, address indexed _spender, uint256 _value) [Triggered whenever approve(address _spender, uint256 _value) is called.]
Official Github thread is found here ERC: Token standard #20
What all this means for ICX?
ERC20 tokens distributed during the presale are tokens in a smart contract, users are able to see exactly how much ICX they will own only, each locked up account will be unlocked after KYC approval. Upon main net launch, ERC20 tokens will be migrated to ICX as a native coin to the main net.
ELI5: If you think of your ethereum wallet as a safe, and you have the private key to this safe. When you open this safe, the ICX tokens are not actually inside it, they’re in another safe (the ERC20 token smart contract). Inside the smart contract safe is a ledger that logs how much each account holds. If you want to withdraw from the account you’ll need to sign a message with your key, but currently the safe is locked so you cannot withdraw from the account, after KYC your account will be unlocked and you’ll be able to withdraw from this safe.
Add Custom Token
Address : 0xb5A5F22694352C15B00323844aD545ABb2B11028
Token Name: ICON
Symbol : ICX
Decimals : 18
The 1st round of pre-sale managed to reach the total hardcap set by ICON, 150,000ETH. So there won’t be any more public sale, it is concluded. The only way to get ICX now is to wait until it hits exchanges.
Bonus ICX were allocated based on Blockno and Txhash during pre-sale, select winners will get an additional 100% ICX of their contributed ETH. Remaining participants get 2% ICX airdrop from term 2 and 3 bonuses, results can be found here Token Sale “Term 1” Bonus Results.
This will depend on which Lamborghini model you plan to get. ICON’s ICO price was around $0.1128 USD per token, ~42mn USD market cap. In order to buy an entry level Lamborghini Huracan, with a price tag of ~$200,000, you’ll be able to afford one when the price goes ~23.6x, assuming you have contributed 30ETH and received 75,000 ICX.