nICE Tokens
The Fee sharing tool of Popsicle Finance!
Last updated
The Fee sharing tool of Popsicle Finance!
Last updated
A performance fee is charged on all the profits collected by Sorbetto Fragola, Sorbetto Limone, and likely any future product. This performance fee will be collected and later distributed to nICE holders in the form of ICE tokens.
Although the staking mechanism is only available on Ethereum Mainnet, the nICE token is live on Ethereum Mainnet, AVAX, BSC, FTM and Arbitrum! The address can be found in the list below:
ETH Mainnet: 0xfF3Ac80c1caA08Cbd43a7e90d20c398d54C7342f.
Please note that you can also add nICE to your wallet by clicking on its logo in the top right corner of Popsicle website.
The process is pretty simple and straightforward:
Users deposit ICE tokens into the nICE-Pool.
As a receipt of their deposit, they receive nICE tokens in their wallets. nICE tokens represent the share of the nICE-Pool owned by the user.
Fees are collected from the protocol, used to market buy ICE tokens that will later be deposited into the nICE-Pool.
When users want to unstake, they receive their share of the nICE-Pool, which corresponds to the initially staked ICE tokens as well as any additional share of the fees.
It should be mentioned that the quantity of nICE tokens a user receives from staking is likely to not be the same as the ICE token quantity deposited. This is because as the pool increases in size from the fees, the value of 1 nICE token increases to be equal to more than 1 ICE token.
Furthermore, the return given by nICE is not constant, as it is based on the underlying performance of Popsicle Finance's products. The APR displayed is therefore an estimate based on past performances.
Please note that once you deposit your ICE tokens, you will not be able to unstake right away, as they are subject to a 24 Hours Lock-up period!
We are setting up nICE-ICE markets on other chains where nICE is bridged in order to allow the purchase of nICE for ICE (obtaining the same result as staking) on sidechains! Stay tuned!
First of all, click on the "nICE" button on the top part of the screen. The following frame will appear:
Here users will be able to stake their ICE for nICE, as well as doing the inverse process by clicking on the two arrows above. Users can also see how many ICE they are earning by comparing how much their nICE tokens are worth in terms of ICE (checking the ration in the top right corner) regularly. Given the fact that after every fee payout the nICE value in terms of ICE will increase, users can expect to see the number of ICE in the top right corner to increase.
On the right frame, you will see how many ICE or nICE you have in your connected wallet.
On the right frame, You will also be able to see different stats:
Approximate Staking APR (calculated as the last week's APR annualized) - The APR that the nICE staking provides.
Total ICE Locked - Number of ICE locked in the nICE contract.
Staked Protocol Fees - Amount of fees sent to the nICE pool since day one.
Once selected the amount desired, just click on the "STAKE" button and approve your transaction! Please note that the first time you do this process you will be asked to approve the ICE spending first, and then pay the gas fees for the actual transaction!
Currently, the only fee collected by the protocol is the 20% performance fee of Sorbetto Fragola.
The fee collecting process is being done manually. The Team collects the Protocol Fees from each contract, sends them to the governance address are uses them to market buy ICE. This process happens at least 3 times a week, but we are not going to disclose more information to avoid front running issues. We will update this page once Limone is live, and again after the launch of any new fee-generating product!
Please note that due to both security and distribution reasons, nICE staking will only be available on Ethereum Mainnet. We are currently working on adding nICE to Anyswap bridge, in order to allow users on FTM, AVAX, BSC and Arbitrum to buy and sell it in ICE-nICE markets. Stay tuned!
