FutureICX AMA with nblaze (Midos) and the ICON Pilipinas Community
Introduction: Hello ICONists! Today we’re happy to outline and highlight the intricate components of FutureICX, our vision for the d’app’s future and the reason for its creation through this AMA with ICON Pilipinas. Many community members have highlighted questions they’d like answered and were happy to discuss the foundations of our project, our ideas and how FutureICX differentiates itself from other gamified trading applications within the blockchain sphere! We look forward to answering all of your questions!
nblaze : Hey everyone! As most of you probably know I’m nblaze from ICON P-Rep team Midos and together with the P-Rep team Sharpn we have built the FutureICX.io app, which was released earlier this week. This has been quite a long and exciting journey which started almost a year ago and we are all very excited that we have finally been able to achieve such a successful app release with so much positive feedback coming in our direction.
Jenny: How did you come up with the idea for FutureICX and how was this project started?
nblaze: Well, as a long-term holder of ICX, I have always been fascinated by ICON’s system and was looking into ways to contribute to it. I began extensive research surrounding the best P-Rep teams to delegate my ICX to, but somehow this did not feel enough, and I wanted to do more for the chain (and respectively for my investment). After jumping through a lot of different plans and ideas, including lotteries, raffles, games, payment systems etc., I noticed that a lot of people in the trading channels love to make predictions; long story short, approximately half a year later I partnered with the Sharpn P-Rep team. We’re extremely grateful for a Grant that the ICON Foundation and the ICONation teams provided us and we continue to press forward with amazing results.
Jay: Throughout the entire development journey, there’s sure to be plenty of ups and downs experienced. What’s one particular fond memory that stands out to you the most?
nblaze: Oh, I would need to go all the way back to the planning phase of FutureICX. I had gone to bed pretty late one night as I was very excited about the Dapp idea, but somehow, I constantly kept hitting a brick wall in trying to figure out how it would work. No matter what I thought of, several hours of planning later I have thought of something critical that would be a major issue. That night I was tired and honestly becoming a bit discouraged that I would never find a system that would work. After going to sleep, I woke up approximately an hour later with a clear idea about the system that I would like to use for FutureICX. I had no sleep from this moment onwards, just got to my computer and worked on it all night. It was really an ‘Eureka’ moment that I’m quite fond of.
Jenny: What are your plans, either near-term or longer-term now that FutureICX has been released?
nblaze: Of course, we are still working on FutureICX’s current state and are making sure that everything is running well. The app is stable, and players are happy with it. We have already started making plans for our next development stage through and although I cannot share very much, I can tell you that we are aiming for 3 additional original trading games, additional trading pair predictions and maybe even different crypto payment options. Hopefully everything will go well, and we would be able to reach those targets (and who knows, maybe more).
Twitter and Telegram follower questions
theanerz: What is the Mission and Vision of FutureICX?
nblaze: I like this question as it is simple and yet very complicated to answer. FutureICX is aiming to be a multi-purpose platform that could be used by a wide range of players. It could be used as a mean to get additional gains from trading, as a learning tool, as a proof-of-skill or even as a fun app that you can have fun and gamble on. It is also very beneficial to the ICON chain as it not only creates transactions, it could also be a replacement of the ‘exchange’ trading in which no ICX are leaving the system (thus reducing sell pressure and increasing the price of ICX) and finally as a tool which can reduce the circulating supply as the ICX tokens placed in predictions are locked until the outcome is processed.
I wrote an article a few days ago about this exact topic – what has inspired us to make the app and what are the benefits of using it. Anyone interested can find it at this link:
ricnnobre: FutureICX is a platform for traders and therefore a minimum of knowledge in technical analysis is needed to predict where the value of ICX is going. Doesn’t that restrict the audience that will use the platform?
nblaze: True, the platform is for the most part aimed at traders, however most people that trade in it are not professionals. This allows for beginner traders to have a tool where they can compete with a lot of similar skilled traders instead of professionals, whales and institutional traders and this makes FutureICX a good learning tool to use. The prediction times are also fixed so this eliminates second-guessing and reacting emotionally on a trade that you have already set. As you are not competing against the bank, this also gives the players the opportunity to progress with their prediction sizes as they get better and even potentially make a living out of this if they are good enough and hit their predictions on a regular basis.
It can of course also be used as a fun gambling tool as a lot of traders seem to be using the exchanges for that anyway.
RGerburt: DApps in which users spend money without obtaining any benefit causes loss of interest over time. Does FutureICX have any form of reward for traders who fail to succeed in their predictions? How to maintain the loyalty of users, mainly those who are not good traders?
nblaze: We have put in great efforts in trying to be helpful to such players. FutureICX offers dividend returns (each 1 icx that you spend gives you 1 dividend point and the dividend points respectively give you a % of the dividend pool, which is 10% of the amount of ICX that all players spend, at the end of the week – you can see details of that on top of the main screen and in the ‘help’ section, which is the place where our system’s theory is located). One of our awards also gives returns to the player that has spent the most. If that doesn’t work, you can always go for an ‘influencer’ strategy and have your friends and followers generate dividends for you (every 1 icx spent by someone that registered via your affiliate link gives you 0.5 dividend points)
lavicrep69: They call us Betlords of the Icon Pilipinas we are one of many supporters of FutureICX. I just would like to know, because for us statistics and achievements are really a big deal. I saw the “Tropies (Sniper, Marksman, Cannoneer, Monthly) and the ICX reward” that you will get from consistent playing/predicting. I’m just wondering if you have global ranking of top players on each trophy or tier like a data base link on blockchain that we can always check to improve our standing? And will we have a "copy prediction options?” I’m sure it will be a good idea coz we can follow players and see their statistics.
nblaze: There are such options, but we are planning to expand on those. In your ‘Profile’ page you can see how many awards you have earned, the most recent ones and how much you have earned through them. The monthly awards are also giving a monthly ranking of the top 10 players and giving them rewards for it. However, we do understand that we will need to and will improve even more in this direction
nhene00: The market today has a lot of development projects on the blockchain platform. One of the factors that makes the platform appealing to many users is its special features. So, what are the outstanding features and advantages of FutureICX to attract users and investors?
nblaze: We truly believe that our app was designed in a really unique way. You have the exchanges, binary options and futures on one hand, you have the raffles, lotteries, casinos and games on the other. We try to be none of those and to provide a new experience to our players. We also think that we offer a unique system, created from scratch, that benefits a lot of different types of players and strategies. As every other platform though, we would need the users/community’s support and feedback in order to progress even further. We do not believe that this will be an issue with ICON’s community though.
ThomaXMiller : How will the dividends/point system work? When will the $3000 Pool be distributed?
nblaze: You earn dividend points with every prediction that you and your affiliates make, and you get a % of all prediction amounts respectively to the amount of points that you have at the end of the week
CHARLoTTE9o: If it’s less risky and much more profitable for traders, how will you and the whole team benefit from this?
nblaze: The app has built in 5% commission, that is how we profit (you can see the full details in the ‘help’ page of the app). It is also not much more profitable for all traders of course; it simply provides better opportunities (according to our own deductions of course) than a normal exchange would.
Ketz23: DeFi is one of the hottest topics in the blockchain space right now. Can $ICX share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Unification approach towards the DeFi sector?
nblaze: I don’t think that I’m qualified enough to give such comprehensive opinion in Defi in general I’m afraid.
willydavec1: You mentioned earlier about gambling, more games to play,
In this era where there are tons of cryptocurrency gambling addicts, do you have any plans to minimize their addiction? A good project needs to care for its users/gamblers/players. Do you have any plans for them, any limitations? For example, 1000 USD worth of loss, they must be restricted for a few hours, something like that.
nblaze: I believe that it would be hard to get addicted to our app - its 1 prediction/day or week, that is not a major concern imo. Also please keep in mind that this is no gambling application - you are not playing against the house and you can easily be profitable long term. So, an ‘addiction’ could mean improving your trading skills and making a living out of this.
Neajmik: The hardest thing about any business is not building a product. What is often the hardest is getting people to use the product. How will FUTUREICX team resolve this to make your project become mass adopted and be more attractive in investor/traders eyes?
nblaze: True, we are doing our best from the app’s side - getting feedback, building a product that our players like, promoting it to the best of our abilities. I think that the rest is up to the actual players: if they like it, they will naturally promote the product. I also think that the affiliate system would help a lot with that as a player could earn by being a ‘promoter’ and not even playing a single game (although not playing would limit his potential gains).
SiliLovers: How does it feel after the first daily prediction was resolved earlier?
nblaze: Amazing. 2500 ICX placed in predictions on the first day, quite a bit of positive feedback, happy winners all around. I love it!
lavicrep69: If I am an ICONist and use d’apps like ICONbet how will you convince me to play FutureICX if it was my first time?
@nblaze: We wouldn’t. We believe that ICONBet has their own player market and we have ours. The activities on both platforms are completely different so there will be no need to pull players from one to the other. ICONists could play easily play on both and be equally happy with their experience
Neajmik: What are the ways that FUTUREICX generates profits to maintain your project and how can it benefit both investor/traders and your project simultaneously?
nblaze: We have a 5% commission for that, so we don’t actually aim to benefit from the players’ losses, on the contrary, we try to limit them for the less experienced traders. That is why each prediction amount is split into: 80% into the selected reward period pool, 5% towards the weekly/monthly awards, 10% towards the dividends and 5% to our team so we can keep improving the Dapp. That gives players opportunities to gain, even if their prediction did not come true
HiImGroot: What are your plans for global expansion; is FutureICX focusing on only trading at this time or are you focused on building and developing your Dapp for more quality experience with users?
nblaze: We’re hoping that with the second phase of our app we will be able to go into different crypto markets as well. This is still a long shot of a plan and requires a lot of variables to piece together but if we are able to do this, that would generate ICX transactions (as our Dapp is fully based on the ICON chain) while we are processing predictions that are payed with other cryptocurrencies.
matT325: Where do you see FutureICX 2 or 3 years from now?
nblaze: As a large gamified trading platform with a lot of players, many more trading games and options and working with a lot of different chains and projects while generating icx transactions in the process.
LadyCrows: To advertise a project, you need to provide benefits and features, security aspects of the project. How does FutureICX differ from other decentralized trading applications?
nblaze: There are quite a bit, so I’m not sure that I can list all of them in one short message. We have multiple gain channels, tiered rewards, dividends, awards, independent affiliate gains, our Dapp is fully decentralized (so every transaction is secure and verifiable), we are using a decentralized oracle for results (fairness and security), our tx process time is short and recorded on the chain thanks to ICON as well.
ThePredator11: Why did you choose this platform name "FutureICX?
nblaze: This was entirely a team Sharpn contribution. I picked Midos as an app name - they suggested FutureICX and we went with it and kept Midos as the name of my P-Rep instead.
CryptoHodler22: If you put in an amount of $ICX for a long term prediction you can’t stake them. Is there a form of divided for long-term wages?
nblaze: That is absolutely correct – you would not receive any staking rewards for the duration of the prediction and that is the main reason that we have not set up a ‘monthly’ prediction or something like that. FutureICX is not aimed to make long-term holders to unstake their bags and come play. It is focused on the circulating ICX that instead of going to the exchanges, can come to ICX and have greater benefits from that.
In terms of if the players are not losing from locking their ICX into a prediction on FutureICX, instead of staking them, the staking rewards for 10 days are around 0.2% - with FutureICX the rewards start from 120% and you could earn up to 450%/day if you know what you are doing
I think that as with anything else, you have to balance your targets and decide what would be the best strategy for your money
Ramle13747634: What is the greatest risk that you’ve taken before you do the first move of making the FutureICX that was released recently? Is it worth it to take the risk?
nblaze: I think that building FutureICX was a very large risk in itself for me as in order for the project to see the light of day, I have personally spent almost an year working on it without any payment so far (while financing some parts of the app’s development out of my own pocket) and without any guarantees that I would be able to finish it. However I think that it was worth the risk and I would definitely do it again – I have not done this app to make money and have no delusions that it will make me rich or something. Im just happy that Im seeing it live and players loving it so far. This motivates me to develop FutureICX even further and provide even more fun experiences for the Iconists
Neajmik: You received a lot of questions related to utilities and technology, future vision etc. So now I want to ask what do you want to receive from the community?
nblaze: The greatest support that we can receive from the community is spreading the word about our app, about your opinion of it (good or bad it doesn’t matter – you are entitled of your own). At the end of the day, we have designed the app to be attractive to newcomers and to reward properly the proactive players assisting us with that task (via the affiliate bonuses), however our PR resources are limited and we would appreciate any help that we could get.
So if I have to summarize – talk with people, brag, show off, discuss, even rant about FutureICX to people, it will all be of help to us and will also earn you extra gains