The State of Popsicle Now, and where the Future is Going!

It is now exactly one month since Sorbetto Fragola, our Uniswap V3 LP optimizer, has gone live!
We wanted to make a quick update so everyone can read all about what has happened since the launch, and of course what Popsicle is up to next.

Sorbetto Fragola

Let’s dive into the launch of Sorbetto Fragola! First of all, let’s do a quick recap! Sorbetto Fragola allows for users to provide funds, that are then used to liquidity provide (LP) on Uniswap V3, with the Popsicle strategy making sure that the funds are never outside of the LP range.

Some Numbers to show what we have achieved within 1 month:

• $23,000,000 LPAUM (Liquidity Providing Assets under Management)
• $1,000,000 in fees earned within the first month for the liquidity providers!
• 10 different liquidity pairs available, focused on highly liquid pairs due to the aspect of these being easier to LP with, as well as to secure ourselves from LP frontrunners and more.
• 0 times has the LP been outside of the price range.

Tokenomics Update — Burning of ICE

The Popsicle community accepted an update to the ICE tokenomics proposed by the team.
64.98% of the original token supply was burned, the reason for this being that we believe that we do not need this many tokens as a marketing incentive, considering that the protocol already earns enough fees to attract liquidity.

To read more about the thoughts behind the change check here!

These ICE were burned on July 10th, after the governance proposal was passed. You can find the Transaction Hash here!

nICE

Popsicles staking and fee accruing token nICE was launched on the 15th of July. Any ICE holder can stake their tokens and receive nICE back! 10% of all fees generated by Popsicle Finance are distributed to nICE holders. So far not all rewards that have been collected prior to nICE launch have been distributed, as payments are being done at random to avoid “Fee Front Running”.

Thanks to the launch of nICE, we have decided to migrate the way we calculate our voting power for the Governance Dashboard. Your voting power is now based on the square rooted amount of nICE held by your wallet (rather than just plain ICE), as well as how many ICE are in the LP tokens you have deposited in the Popsicle Stand (this second part did not change)!

If you want to find out more about nICE, check it out here!

Slight Rebrand!

We made some slight iterations on the UX as well as the UI, making things a little more clean and easy to use. We will still be working on this, so any feedbacks are more than apprecciated!

First Popsicle Meetup

In the spirit of prices dropping in crypto, around 25 Isvikingers met at Mcdonald’s in Paris to then head to a park to chat all about LPing, as well as everything happening within the crypto space. It was a great success and we can’t wait for the next meetup!

So what is next…?

We have a few things coming!

Wen Limone (Multichain LPing)?

We know we have been saying this for a while but soon. This time it actually is very soon rather than just soon. Limone will manage LPing on Fantom, Binance Smart Chain, and Ethereum.

When Popsicles promises you lemons, it’s worth waiting for them.

Optimization of Uni V3 and Multichain LPing!

We are continuing our second stage of the research with Blockahin Research Lab, which will result in the optimized strategies and possibly several new strategies for both Uni V3 as well as Multichain Lping. Furthermore, we will likely do research on Sushi Trident as well as Curve V2. The DEX space is becoming more and more interesting to LP with these newer AMM designs and we want to be at the forefront of LPing innovation!

Further UX/UI Upgrade:

With Popsicle Finance expanding its LPing strategy offerings we believe that we need to make further UX/UI upgrades to make things easier to comprehend, as well as make things more trustworthy. Thus we will continue to work on the UX and UI.

Impermanent Loss Calculator, Hedging Impermanent Loss (IL) and more!

Of course from a product perspective, we are also adding to our UI different parameters so that a user can do some optimization on his own end. With that, we will be adding a way for users to be able to calculate their Impermanent Loss if an asset's price goes to X.
We will also be working on a way to actually hedge the IL, but bear in mind that this is still a work in progress and further work needs to go into this!

We are extremely excited for what we have achieved, but even more excited to see what we can achieve within the next month!

If you have not already, join the conversation over at our discord here!