IconFi - feedback

General Discussion
#1

Hi Everyone

First of all awesome work with the IconFi app, Cefi has a huge following and this app really hits the mark. I hope to see icx used to as an option where instead of earning interest in the native assets you could opt for interest to be paid out in icx and offer slightly higher interest. (exactly what Celsius does with its cel token) only this is better as it’s the native token of the chain!

The above is not what I wanted to post about haha, I couldn’t help myself. I really wanted to talk through the KYC process. I asked @minhx on twitter and he responded right away, thank you! I did want to pass on some feedback so I have moved my thoughts here.

The current KYC process is handled by a third party, their process is I believe outdated. Having to hold a picture with a paper noting the date is a real barrier for the people we are trying to attract with this app.

We aren’t Mom and pop ready yet :slight_smile:

Recently I used the Wirex app to get their visa debit card. Their KYC process was leaps and bounds ahead of every other experience I had. The app captured the pictures and a voice sample and a few other things and done. Every step it showed animations on how to take the pictures etc. I thought my mom and dad could do this no problem.

I do understand its the first version, I hope a revision of the third party service provider Is on the cards, I do believe this would help with user adoption as well.

Thank you for reading.
Fez box

3 Likes
#2

Let’s introduce Zzeung to KYC!

4 Likes
#3

Min actually mentions using DID— it would just be for south korea. but still that’s awesome!

3 Likes
#4

Will Bridge by used by ICONFi? The ICONFi app is great, very smooth and easy to use which is perfect for beginners, but without a fiat on ramp any new user would still need to navigate the exchanges to utilise the app.

2 Likes
#5

Thank you. I’ll pass along the comment to the team.

Regarding “interest to be paid out in icx”, this has been requested by other members. Yes the team is aware and have been looking into it. It’s just not a feature we wanted to include in v1 for simplicity.

Regarding KYC, we are aware of various KYC vendors. We chose a local team that was easier to work with. This was sufficient to be compliant, but the team looks to improve this as well as all other parts of the service.

4 Likes
#6

Appreciate the response. Totally get it V1 can’t ship with it all out of the gate. As long as the team is aware and it’s on the list to improve that great news.
Thank you.

1 Like
#7

hello everyone,

first of all downloading and installing the app on android was as smooth as it gets.
Regarding iconfi i have a couple of questions to understand a bit better the product

01-usually other platform offer loans .here how can iconfi pay the yield for staking usdt btc eth?

02-will the team publish a road map to inform us of the potential new features that will be available?

03-who is the team behind iconfi? is it like for balanced and omm, the combination of multiples p reps?
is it the fundation who funded the project?

04- iconfi will probably make profits at one point.in this case how will be used the profits?

2 Likes
#8

Hi all. Really like the look and feel of it so far! I have a couple of pieces of feedback myself.

When I search for the app in the android app store it does not appear (at all). I’ve scrolled down the list forever and still don’t see it. I was able to access the app by visiting the ICONfi website which linked to the app in the app store. Even after installing the app it does not show up when I search for it… go figure? I’m located in Norway if that helps.

When I first entered the app there was a box of three tips that popped up. The bottom line of text in two of those was cut off/unreadable for me.

Once again, fantastic stuff!

4 Likes
#9

Thanks for the questions.

This is stated in the FAQ on icon-fi.com website. Basically loan and trading.

I will ask the team to considered this. I believe once the operations are more streamlined, this should be possible. Like every product launches, it’s one week in and life is chaotic.

The core team is lead by Sean Kim. We hired and also receive substantial technical help from various 3rd party experts including some members of our community. A team page may be good. I and investors funded ICONFi, not foundation. ICONFi is a company, not a project, that is required to follow local regulations.

I honestly don’t have an answer because it’s not the focus. ICONFi just launch a week ago. The team is laser focused on make the product great and taking care of customers right now.

4 Likes
#10

Hi, just checking out the IconFi app. Thinking of staking some ICX. What is the current lock up period? thanks