The thing that I find here as a great danger is scam fund managers. Because if there will be few scam managers and if funds will be really badly managed (or even stolen) people might get bad conotation about OFM. Does anybody know how will Iconomi try to prevent that?
This covers most of the questions/concerns for the OFM
1) Will the assets in our open fund management portfolio be locked on ICONOMI? or will it be the open fund managers responsibility?Assets will be kept by ICONOMI.
2) Will their be an internal exchange to trade the open fund management assets?You will be able to enter and exit investment fund positions from/to cryptocurrencies. But there will not be an exchange functionality with live trading books available as a stand alone product.
3) Do we need to have cryptoassets pre-purchased and added to our open fund?No. Assets will be managed by the ICONOMI platform. This includes entering, exiting and keeping the assets safe.
4) Will their be anti-fraud security measures in place or is this trust dependant on who your open fund manager is ?Yes, there will be several anti-fraud measures enforced. For example, the most obvious one will be the prevention of fund managers pumping certain tokens using funds assets, while at the same time dumping his/her personal assets on an exchange. It will be a continuous learning process. Well begin with a small control group and gradually expand in accordance with the feedback received. Security measures will be the same for all the assets on ICONOMI.
5) Will the open fund managers be able to customize their fee (profit % for running their fund)?Fund managers will be able to customize their entrance, exit, management and performance fees within a valid fee range set by ICONOMI. If a manager will disable the performance fee, the fund will become a coin traded fund (CTF), with a possibility to be traded outside of the ICONOMI platform.
6) Will there be % details on gains and loses similar to ICNX/ICNP?Yes.
7) Will we have custom introduction/details on our funds ?Yes - each fund on the ICONOMI platform will have its own presentation page.
8 ) Will the investors of the open fund management need to pay in FIAT or is BTC/ETH and other currencies accepted for shares in the custom open funds?Investments into the funds on the ICONOMI open fund management platform will be possible with cryptocurrency. However, there will be a simple ramp up process for FIAT investors which will involve the exchange of FIAT currencies into cryptocurrencies.