https://twitter.com/zetta_icarus/status/1376194871250276356
Let’s start off with an introduction of yourself and your team that are involved in this project.
TOM
● I’m Tom, this is JX, and together we are a team of 7 at icarus.finance. However, because of the nature of our project, the team is actually larger indirectly as we have overheads due to our mining facility, but keep it simple! The team has a combined experience of around 20 years revolving around developing, project & account management, marketing & design, as well as support. We all have one thing in common though, we’re all Crypto enthusiasts!
Do tell us more about the project, and what are your visions for it?
XAVIER
● Icarus.finance is a decentralized crypto mining protocol that combines traditional mining with defi applications. We will offer different asset options as well as different pools within that asset. Our vision is to be the #1 mining protocol in the whole space by not only offering the best mining yields in the industry but also giving users the ability to snowball yields due to the defi applications and partnerships we will introduce.
How did this project come about? It really is very nostalgic to me, cause I started off with crypto in 2017 time with mining rigs and ASIC.
⁃ really fun when all i know was Ctrl-Alt-Del, but i have to build a rig from scratch
TOM
● Before we created icarus.finance, we spent hours (and still do) just talking and sharing ideas about this space. We identified a gap in the market in the sense that there is no Ethereum hashrate token on the Binance smart chain. From there, we also identified that the hashrate tokens that do exist, they don’t actually offer much more than simply staking for mining yields. We saw a huge opportunity here to combine the concept of the mining as well as traditional Defi (farms, yield aggregators, etc), to create a long lasting ecosystem that’s more beneficial to all users. Icarus aims to be the single most sustainable and profitable crypto mining project in the entire space, because being on the BSC allows us to offer a service that the community has never seen or experienced fully before due to the low fees & fast tx speeds. We may all have mined some Bitcoin or Ethereum, we may all have staked in a farm or yield aggregator, but have any of us done both in the same protocol, with the same assets?
Tell us more about the tokenomics of the project. I believe there are $ZETH, $ICA
XAVIER
● Yes! $ZETH, $ZBTC, and $ICA. The first thing to note is that our hashrate tokens ($ZETH and $ZBTC) can, and will only be issued in accordance to the project’s mining power, because they are directly correlated. Currently, our mining power represents a limited token supply of 1M $ZETH as well as 1M $ZBTC. As the project’s grows (i.e. new facilities), so will the total number of $ZETH and $ZBTC tokens. Note that holding one of our hashrate tokens is the same as owning an actual piece of that mining power, but without having to buy hardware and create mining rigs.
● $ICA is our governance token, and will also be used in defi applications. It’s tokenomics are far different from our hashrate tokens. $ICA is a deflationary token, with a total supply of 10M, which will be issued (minted) over a 2.5 year period, with emissions decreasing gradually over time (check whitepaper for specifics). A percentage of the $ETH and $BTCB pools will be used to buy-back and burn $ICA (market making pool), making it a deflationary asset.
How are the rigs being maintained? will there be a fluctuations on the earnings if the price of ETH goes higher?
TOM
● We have a factory in China that has a full team supervising the operation, they’ve been operating for more than 10 years, so they know what’s up! There are bound to be fluctuations on earnings depending on how many machines and hash power we have mining and how many people are staking our hashrate tokens. If Eth price goes up, everybody earns more, but the project has a set amount that it can mine on a daily basis and that will be distributed across all our hashrate stakers
Will the electricity cost be a factor for the project too?
XAVIER
● Absolutely! This is one of the reasons we’re able to offer great yields. We are very meticulous about where we setup to ensure low electricity costs, as this has a direct impact on everybody’s earning potential. A proportion of the market making pool will be used to cover this cost — this is currently set at 20%, for $ICA burns as well as electricity costs.
How are the mining difficulty being curbed? will the machines be upgraded in the future when mining becomes not profitable?
● We only use RTX 3070 graphic cards or equivalent grade in our project. We will indeed upgrade the machines in the future depending on how the market moves, but that won’t be a necessity for at least another 18–24 months, if not more.
Will there be plans to mine other coins?
TOM
● Great question! This is another variable that makes icarus.finance unique and the short answer to this is Yes! The slightly longer version is that $ICA holders will indeed have voting power via the DAO, allowing the project to change the asset that’s currently being mined. If a crypto is no longer profitable, we will vote on the next most viable crypto to mine.
How are the security being taken care of ? are there audits? if not what have been done to ensure the safety ?
XAVIER
● Yes, the protocol & smart contracts have been audited by Solidity and there were no critical or major issues, as well as no threats from external attacks. You can check the audit report at icarus.finance. We will also have another 3rd party audit in the future. Our main developer has been coding in the crypto space for more than 12 years, one of the reasons this audit ran so smoothly.
What are the ongoing development?
TOM
● Where do we start? Ok, we’re merging DHM with icarus.finance, we’re developing a new website with all the different pools and services we offer, just finished the last version of the whitepaper, developing different partnerships as we speak, some to be announced soon, and more. The focus for the next 4 weeks is to bring the full project to life with both hashrate tokens on the new website and $ICA being rolled out.
Q how are the future development/roadmap that are on the table now?
XAVIER
● We will introduce new defi partnerships, another audit, listing on public DEX such as Pancake Swap, as well as new mining facilities to take our project to the next level, and finally being able to offer a wider array of mineable assets!
Q do share with us all your links to the project, so that our readers can read more and also keep up to date with the development
TOM
● You can find us at icarus.finance
● Our whitepaper(new version is coming in the next few days though!): https://icarus.finance/Whitepaper.pdf
● Our Telegram: https://t.me/icarus_finance / https://t.me/icarusfinance_announcements (announcements)
○ You can expect multiple new announcements on the upcoming days, there really is a lot happening right now!
● Our Discord: https://discord.gg/YtDUZwXjkN this is the best place for elaborate discussions about our project
● Twitter: https://twitter.com/zetta_icarus
Q Lastly our famous question, do you have any alpha or juicy news for us in BSC News today ?
Introduce • ZETTA BITCOIN HASHRATE TOKEN •
So all people should stay tuned.
Launch will take place in our dApp, same way as ZETH, fair launch for everyone.
XAVIER
● Yes, our governance token, $ICA, will be issued for the first time on the 31st March! If you’re staking our hashrate tokens, you will receive $ICA either way as well as mining yields, but note that $ICA emissions will be at their highest point when we issue them initially! Emissions will reduce after 7 days, and then again after 23 days, and so on and so forth. Early bird gets the worm!
Icarus Telegram: https://t.me/icarus_finance
Icarus Twitter: https://twitter.com/zetta_icarus
