What Is Ice DAO (ICE)?

What Is Ice DAO (ICE)? Complete Guide Review About Ice DAO.

What Is Ice DAO (ICE)?

Ice DAO is an innovative decentralized reserve currency protocol based on the ICE token. Each ICE token is backed by a basket of assets (e.g. MIM) in the ICE treasury, giving it an intrinsic value that it cannot fall below. They are a community driven DAO that introduces unique economic and game-theoretic dynamics into the market through staking and bonding. These two mechanisms are crucial for creating a sustainable reserve currency while optimising for short and long term wealth creation for holders of the ICE token.

Ice DAO Storage Key Points

Coin BasicInformation
Coin NameIce DAO
Short NameICE
Circulating Supply108,060.24 ICE
Total Supply136,658
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

What is the point of ICE?

Ice DAO goal is to build a policy-controlled currency system, in which the behavior of the ICE token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that ICE can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.

How do I participate in ICE?

There are two main strategies for market participants: staking and bonding. Skaters stake their ICE tokens in return for more ICE tokens, while bonders provide LP tokens in exchange for discounted ICE tokens after a fixed vesting period.Governance participants can get involved on your forum and through discussions on your community discord and DAO discord servers respectively. They are always looking for new community members to contribute!

How can I benefit from ICE?

The main benefit for stakers comes from supply growth. The protocol mints new ICE tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

Ice DAO The main benefit for binders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in ICE and thus the bonder’s profit would depend on ICE price when the bond matures. Bonders benefit from a rising or static ICE price.Selling will also affect the price of ICE, thereby affecting Bond’s income.

Who created ICE?

ICE was Ice DAO and built by a distributed pseudo-anonymous team, and is contributed by the ICE DAO community. All decisions are formed by community members on the forum and made by token holders through snapshot voting. There is a demand for a decentralised reserve currency. Dollar-pegged stable coins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ether.

Why do need ICE DAO in the first place?

Users are comfortable with transacting using stable coins knowing that they hold the same amount of purchasing power today vs. tomorrow. But this is not exactly true. The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of dollar also means a depreciation of these stable coins.

Ice DAO aims to solve this by creating a free-floating reserve currency, ICE, that is backed by a basket of assets. By focusing on supply growth rather than price appreciation, hopes that ICE can function as a currency that is able to hold its purchasing power regardless of market volatility.

Is ICE a stable coin?

Ice DAO is not a stable coin. Rather, ICE aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, ICE provides free floating value its users can always fall back on, simply because of the fractional treasury reserves ICE draws its intrinsic value from.