Let’s start w 1st principles.
ICON is a chain just like Ethereum, NEO, Zilliqa, Solana, BSC, Tron, ATOM and etc.
A chain typically uses their native token for tx fees, all is good so far.
But the value of the native token depends on the activity an ddapps on the chain.
Okay, here is the issue imo.
ICON Chain is lacking talented developers to incentivize them to come over here and buidl stuff here.
After more than 3 years of buidling the infrastructure, we only have 1 ICONBet up and running.
And BalancedDAO, OMM, Bridge coming (But these are all internal team)
ICONLOOP has contributed immaterial $ICX demand except for some good PR news that ICONLOOP has been working w some partners but more often than not, the use case of $ICX is not mentioned or not used. *Which defeats the purpose for $ICX stakeholders
For ICON to succeed and thrive, it needs a flurry of dapps activity and developers. It needs buidlers and people to build stuff here, create their own IRC tokens, drive demand for $ICX.
Look at what Terra $LUNA is doing to give u an example. They started out later than us, they have launched 2 successful products Anchor, Mirror with a strong product market fit that benefits the native token $LUNA.
To revive ICON’s glory, I suggest that we attract more developers and buidlers, we need more dapps, more protocols, it can’t just be Benny, Parrot9, IconDAO these few guys around.
We need community talent which has all gone to Solana, Ethereum, Terra, Atom, BSC but not over here ICON. This is something that we need to think about.