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Base Formula
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ICX_Price = Reserve_Balance / (Reserve_Rate*ICX_Volume)
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Presale Values
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ETH_Price\$300
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ICX_Price_USD\$0.12
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ICX_Price_ETH0.0004
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ETH_Raised150000
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Circulating_Supply
400,230,000
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Total_Supply800,460,000
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DEX Variables
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ETH_Reserve_130000*Reserve_1 = 20%
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ETH_Reserve_222500*Reserve_2 = 15%
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ICX_Reserve128,073,600* ICX_Reserve = 16%
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ICX_Per_ETHICX_Price_USD
Reserve_Balance_USD
ICX_Price_ETH
Reserve_Balance_ETH
Reserve_RateICX_Volume
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Simulation 12500\$0.12\$9,000,0000.0004300000.5856007796128,073,600
* Calculate Reserve_Rate based on presale values, ratio calculated using ETH units (USD will reflect same ratio)
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Simulation 22500\$0.12\$9,009,0000.0004300300.5856007796127,998,600
* Assuming constant Reserve_Rate, purchase of 75000 ICX
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Simulation 32500\$0.12\$9,000,0000.0004300000.5856007796128,073,600
* Assuming constant Reserve_Rate, sell of 75000 ICX
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*Assumption: Only trading pairs = ICX/ETH, ETH/ICX
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* Exercising the base formula as you can see, results in repeating calculations with fixed ICX_Price or ICX_Per_ETH.
Without a dynamically changing reserve_rate, we cannot derive dynamic ICX_Price, hence it'll stay constant.
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*Mathematically

if Reserve_Rate == constant R
'AND'
Reserve_Balance/ICX_Volume == Constant K

P = K / R = constant
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* Reserve_Rate A.I. Analysis Model based on the accumulated data such as total call volume, transaction frequency, and price involved in transactions
among different cryptocurrencies. Such data enable various adjustments of features such as the Reserve Rate.
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1) How does the formula impact the opening price of ICX upon DEX launch?
2) How does the formula impact the moving cost of ICX in the long run?
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A: 2) is obviously very tricky and I dont think even the team has a definitive answer to that. While initially with bancor protocol having ETH being the only currency,
moving the price price up will indeed have exponential cost over value, but ICON will also be incoporating different DEXs such as Kyber and 0x, with more currencies added in the reserve.
How each DEX calculate their market dynamics should soon come to an equalibrium through arbitraging, but how will this affect the moving cost of ICX is pure guess work right now.

1) is out in the open still, before we know for sure how the reserve_rates are being calculated (beyond evaluation criteria, but actual equations).
The only safe conclusion you can draw today is "we just dont know".. whether opening low or high is again pure guess work
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