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Iconiq Holdings Cancels the ICNQ Token Sale

The Gibraltar Blockchain Exchange and Iconiq Holdings, the parent company of Iconiq Lab, a decentralised Venture Capital group, have decided to cancel the ICNQ token sale on the GBX-GRID. This decision has come in response to the Iconiq community’s sentiment towards the sale.

Patrick Lowry, CEO of Iconiq Holding said:

“We have heard our communities concerns regarding the sale of the ICNQ token on GBX while it is already trading on IDEX, a decentralized exchange which we have no control over the listing of. While the Iconiq team and many members of the community were enthusiastic for the GBX-GRID sale leading up to the announcement of the price, the immediate resulting sell off of ICNQ on IDEX is a clear signal to the Iconiq team that other members of the community do not wish there to be a sale on GBX. Effectively immediately, the ICNQ sale is cancelled, and all 1,112,500 ICNQ tokens that were to be sold in the GBX sale will be burned.”

“Our primary aim in the very small sale of ICNQ tokens on the GBX-GRID was not to raise additional funds for Iconiq, but rather to merge the Iconiq and GBX communities. Iconiq, as a Sponsor Firm of GBX, believes in our aligned vision of compliant and high-quality token offerings brought to the GBX-GRID by the Sponsor Firm network. Rather than continuing the sale to achieve this goal, we will be encouraging all Iconiq community members to open a GBX account to participate in the growing ecosystem around the GBX Digital Asset Exchange. As such, all bounty tokens from the Amazix bounty campaign will be distributed to participants after they complete KYC on the GBX exchange and register their wallet address with the Amazix team,” concluded Patrick Lowry, CEO of Iconiq Holdings.

Nick Cowan, CEO of the Gibraltar Blockchain Exchange added:

“Our focus has always been on creating an environment that encourages collaboration and development of our ecosystem, in partnership with our Sponsor Firms. Iconiq is aligned with our vision to create an institutional-grade exchange for digital assets and they have made this decision recognising their community’s sentiment. Together, we will continue to build the GBX, focused on the best practices and leading industry standards.”

Iconiq, who is a Sponsor Firm of the GBX, remain committed to the development of the GBX ecosystem. The ICNQ token is aiming to be listed on the GBX Digital Asset Exchange before the end of the year, and Iconiq has decided to use the GBX for the distribution of their bounty program tokens. You can register for an account with the GBX here.

All future announcements regarding the ICNQ token and the GBX will be shared on both the GBX and the Iconiq social channels.