Tokens

ICE Colony has four tokens in the protocol ecosystem

1- Insentient Celestial Excavator (ICE)

0x6ad1eEdDf1b1019494E6F78377d264BB2518db6F

$ICE is the token produced in the first phase of the project. It is a deflationary token with 5% tax and 65,000 max supply. Majority of the remaining supply will be burned at the minting launch of our NFTs. ICE Token will also be used as a fee if users want to dismantle their NFTs back into the components. Please refer to ICE Token section if you want to have more information on this token.

2- ICE Dollar (ICD)

TBA

ICE Dollar (ICD) token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain ICD's peg to 1 MATIC in the long run.

Note that ICE Dollar actively pegs via the algorithm; it does not mean it will be valued at 1 Matic all times as it is only partially collaterized . ICD is not to be confused for fully fiat-backed stablecoin.

3- ICE Dollar Bonds (ICDB)

TBA

ICE Dollar Bonds' (ICDB) main job is to help incentivize changes in ICD supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of ICD falls below 1 MATIC, ICDBs are issued and can be bought with ICD at the current price. Exchanging ICD for ICDB burns ICD tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 MATIC. These ICDBs can be redeemed for ICD when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for ICD when it is above peg, helping to push it back toward 1 MATIC.

Contrary to early algorithmic protocols, ICDBs are partially collateralized by royalty fees

All holders are able to redeem their ICDB for ICD tokens as long as the Treasury has a positive ICD balance, which typically happens when the protocol is in epoch expansion periods.

4- Mining Power

This is not a token that can be minted but a value given to wallet addresses staking ICD/Matic LP. Mining Power can be accumulated to mint NFT components after the protocol is launched.