Some news from around the Icon Republic….

ICON Squashes a Bug

So, on Dec. 23, the ICON team discovered a bug in ICON 2.0’s ICX issuance model that issued ICX 3 million in one day instead of one month.

Fortunately, a network proposal passed on Dec. 25 fixed the problem.

The ICON Foundation stressed that the over-issue of ICX will NOT affect the circulating supply:

This incident only impacts the ICX treasury and DOES NOT impact holders, voters, or P-Reps. Since ICX reward claiming relies on I-Score conversion, the additional ICX cannot be claimed from the treasury and will not impact circulating supply.”

The patched module will gradually bring the ICX supply back to anticipated levels over the next two months, and the ICON team will be implementing stricter QA review processes to prevent a repeat.

ICE Network Giving Away bnUSD 500 in Contest

The ICE Network is celebrating the new year by giving away bnUSD 500 in its SNOW and ICE competition.

The competition has two categories:

  • Best Meme / Graphic / Visual about ICE & SNOW
  • Best Twitter Thread about ICE & SNOW

First place winners in each category get bnUSD 150. Second place winners get bnUSD 75 and third place winners bnUSD 25.

The competition will close on Jan. 7, and winners will be announced on Jan. 12.

The contest is an excellent way to promote the ICE Network and earn a bit of beer money at the same time. Decent IPAs can be expensive, after all.

Price Action Not Great. But Not Bad, Either.

OK, the last two days haven’t been great for ICX, price wise. 

At the time of writing, it was down 6.85% on the day against the dollar. The day before, it took an even bigger beating.

All things considered, though, ICX is in a pretty good place.

Chicago-based ICONist Valentine writes:

Honestly, I’m OK with this ICX price action. 7 days ago struggling to break above $1.25 now comfortably bouncing off $1.46 POST snapshot.  CT was expecting a doomsday sell off but fundamentals have kept the price in check. Happy where we are and couldn’t be any more amped for BTP

Besides, price corrections are the universe’s way of getting more people involved in the market. Or so they say.