ICON (ICX) Price



Before trading any crypto asset, it is important to understand the risks. This overview summarizes certain risks associated with this asset. No securities regulatory authority has issued an opinion regarding this asset, including an opinion that it is not itself a security and/or derivative.

Investors in Canada are reminded that no securities regulatory authority or regulator in Canada has assessed or endorsed any Crypto Contract or Crypto Asset made available through the Uphold Platform.

Token Description & Project Background

ICON is a public blockchain focused on interoperability, a highly sought-after functionality that allows independent networks to communicate and transact with each other.

Icon’s Blockchain Transmission Protocol (BTP) leverages a global network of relayers and smart contracts to facilitate inter-chain communication between independent blockchain.

According to project documentation, BTP also supports cross-chain smart contract calls, a piece of functionality that allows contracts on one chain to interact with those deployed on another.Likewise, BPT enables multi-chain verification of non-fungible tokens.

Icon Bridge is the protocol’s second interoperability offering. Icon Bridge features much of the same functionality of BPT, albeit in a more centralized fashion. Icon Bridge will serve as an interim interoperability solution while BPT awaits final development, documentation explained.  

In addition to fostering interoperability, Icon supports its own native ecosystem of decentralized applications (dApps). Independent projects can leverage Icon’s Contribution Proposal System (CPS) to receive a development-bolstering grant. 

To further streamline application development, all smart contracts deployed on ICON are written in Java.

Icon has a native utility token, ICX, used to pay transaction fees and confer voting rights. ICX can also be staked to the protocol for an annual yield.

Icon was created by South Korean entrepreneur Min Kim. Prior to launching Icon, Kim served as the chief strategy officer of DAYLI Financial Group, Korea’s largest fintech holding firm.

Icon was launched in 2017. Its native token, ICX was initially distributed that same year via a September crowd sale.

Risks of ICX

Like an investment in other crypto assets, there are some general risks to investing in ICX. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in ICX is subject to the following specific risks:

  • Any potential success associated with ICX depends on Icon’s rate of adoption, as well as a number of external factors, such as the growth in demand for interoperability solutions.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with ICX. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The ICX community and Icon’s founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of ICX have no recourse to the ICX community, Icon founding team, or Uphold if ICX declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing ICX on the Uphold Platform, Uphold performed due diligence on ICX and determined that ICX is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of ICX, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of ICX.
  • Any marketing materials put forward by the ICX social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with ICX, including any code defects, security breaches and other threats concerning ICX and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with ICX, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of ICX. 


Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website including the Uphold Canada - Platform Risk Statement and Risks Specific To Holding Digital Assets statement. 

Last updated on June 21, 2023.

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