Isvikingers! As promised in our previous article, we decided to have a look at the current $ICE tokenomics and emissions schedule.
The current situation
We have analysed all of the $ICE pools across different chains and have realised that our liquidity is currently more fragmented than we would like. Today, we incentivise pools across 3 chains which has resulted in the following DEX TVL:
- $1M on FTM Sushiswap
- $1M on ETH Sushiswap
- $550K on MATIC Sushiswap
In addition, while we do not incentivize on Spiritswap (FTM) or Spookyswap (FTM), there is an organic $150K of $ICE TVL on both of these DEXs and $500K on Uniswap V3 (ETH).
Daily volumes are fairly low across the board with peaks of $40K on ETH, $40K on FTM, and less than $10K on Polygon.
Given the current state of the markets, $ICE volumes, like most other DeFi tokens, are currently low. As such, we do not want to continue diluting our holders to incentivise liquidity that we do not need right now.
Starting from this week, we will be pausing $ICE farming emissions on all side chains (non-ETH chains). Users with LP tokens will, of course, continue earning trading fees but will not be receiving $ICE incentives until further notice. All users currently in our farming pools will be able to withdraw and harvest already-earned rewards for the foreseeable future.
On Ethereum, rewards for the ICE/ETH Sushiswap pair will continue at the current emissions rate and will be re-assessed in the future. Our hope is that this helps concentrate $ICE liquidity onto ETH and results in a deeper pool with lower slippage for all users.
Note that despite our decision to pause, we believe that ICE emissions should be responsive to market conditions, and we may decide to re-enable side chain emissions in the future.
If you wish to keep LPing on side chains, you can either leave the LP in the deprecated farms or look for new pools. For example, on FTM, ICE pairs on Spookyswap and Spiritswap continue to offer non-ICE emissions.
The Role of our Products
Given the recent launch of Limone, we are now able to better manage our own liquidity. Our plans for the next months is to utilise our brand new JIT engine (which is being finalized) to improve the performances on our ICE/ETH Uni V3 Fragola position, while at the same time, we might decide to use Limone ICE/XXX pools to allow for leverage LP farming on Sidechains!