Breaking The Ice On DeFi:
This week the new IceBreak token (BRK) was introduced as the native incentive and reward token for our upcoming Hive DeFi platform expansion of IceBreak-R.com which will be called ICEBRK.IO, estimated to launch March 2022 (whitepaper HERE).
IceBlock
As part of the complex tokenomic ecosystem of IceBreak we will utilize a secondary token, IceBlock (ICEBLK), to allow a revolutionary new hybrid liquidity bond & treasury bond mechanism. In the past, projects would ask their communities to raise large sums of liquidity upfront in order to develop and create their products which rarely come to market due to incompetence, mismanagement of funds or outright theft. IceBreak wants to flip this model on its head and only raise what we need as we need it. If the project is doing well and showing progress then demand for BRK or ICEBLK will naturally increase. The intention is to find a perfect balance between reward distribution, inflation, treasury ROI and to align incentives for all parties.
There are two simultaneous phases to the initial distribution of IceBreak: The Great IceWall and The Big Freeze. Following their conclusion, IceBlock (ICEBLK) will begin trading limit orders on Hive-Engine during "The Ice Age" phase and BRK token will have an AMM pair created called BRK:SWAP.HIVE as well.
Tokenomics:
- Token name- IceBlock, Symbol- ICEBLK, Decimal Precision- 0
- 1,000,000,000 Max total token supply
- Initial supply held entirely held by @IceBreak, tokens will be redeemed by users to @ICEBRK for record keeping
- 1 ICEBLK always equals a predetermined amount of SWAP.HIVE converted into IceBreak tokens (BRK), calculated at the time of purchase based on market rate
- ICEBLK price may fluctuate along with market conditions and demand but will never cost more than the predetermined conversion value, which will be controlled and set by the ICEBRKDAO GovCom
- ICEBLK always offers an immediate ROI discount vested over 72 hours
- Once ICEBLK is in your wallet you must wait 3 days for it to "melt"
- After ICEBLK has "melted" it may be redeemed by sending directly to @ICEBRK in return for IceBreak tokens (BRK) which may then be traded, staked or delegated
- 50% of ICEBLK sales will go directly towards buying back and pairing BRK tokens for the Automated Market Maker Decentralized Exchange Liquidity Pool (AMM DEX LP) to create more BRK:SWAP.HIVE liquidity depth
- The other 50% of ICEBLK sales go to @ICEBRKDAO for the DeFi farming pools which generate continual APY for the project through trusted and reputable yield farms
- @ICEBRKDAO will buyback and burn BRK, in addition to compounding the treasury and seed investing quarterly for maximum potential growth
- ICEBRKDAO Treasury reports will be completed to monitor progress and track all funds and project growth over time
How does this token work?
This may be somewhat confusing at first so let me give a quick example:
- Bob buys 1 ICEBLK token for 90 SWAP.HIVE and the conversion value is 100 SWAP.HIVE worth of BRK tokens at all times
- Bob must wait 72 hours for his ICEBLK to "melt" in his wallet and then he can send it to @ICEBRK to redeem it for 100 SWAP.HIVE worth of BRK tokens, calculated at the market rate 72 hours prior (time of purchase)
- Since Bob only paid 90 SWAP.HIVE for his ICEBLK to convert BRK tokens he has saved 10 SWAP.HIVE over the market rate
- 45 SWAP.HIVE (50%) will be sent from @IceBreak to @ICEBRK which will buy 22.5 SWAP.HIVE worth of BRK tokens at market price and then add 22.5 SWAP.HIVE + BRK tokens to the AMM DEX liquidity pool
- The remaining 45 SWAP.HIVE will be sent from @IceBreak to @ICEBRKDAO to utilize for DeFi farming pools generating revenue for the treasury
- IceBreak tokens (BRK) issued to Bob will not be minted, rather they are from a preset allocation of liquidity bond reserves held by @IceBreak for full transparency and accountability
As the ICEBRKDAO Treasury begins to grow it will perform quarterly buyback and burn events along with seed investing into future DeFi platforms and projects. The goal is to create a fully sustainable system which feeds into itself over time rather than requiring a constant stream of new holders to pour in. This will also be achieved by governance controls through the ICEBRKDAO and ICEBRK token on Binance Smart Chain using Snapshot.org and our ICEBRK.ETH DAO community.
This post is brought to you by IceBreak-R - Break The Ice On DeFi and join the BSC community at IceBreak-R.com!
DISCLAIMER: This IceBlock Token White Paper v1 is for information purposes only. IceBlock token (ICEBLK) is not a security, it is intended to be purely a utility token for the ICEBRK.IO network. IceBlock (ICEBLK) purchases do not guarantee any returns, never expect profit solely from the work of others. IceBlock (ICEBLK) are only redeemable for IceBreak (BRK) utility tokens as they do not constitute an underlying dollar value. IceBreak-R does not guarantee the accuracy of or the conclusions reached in this white paper, and this white paper is provided “as is”. IceBreak-R does not make and expressly disclaims all representations and warranties, express, implied, statutory or otherwise, whatsoever, including, but not limited to: (i) warranties of merchantability, fitness for a particular purpose, suitability, usage, title or non-infringement; (ii) that the contents of this white paper are free from error; and (iii) that such contents will not infringe third-party rights. IceBreak, IceBreak-R.com and its affiliates shall have no liability for damages of any kind arising out of the use, reference to, or reliance on this white paper or any of the content contained herein, even if advised of the possibility of such damages. In no event will IceBreak, IceBreak-R.com or its affiliates be liable to any person or entity for any damages, losses, liabilities, costs or expenses of any kind, whether direct or indirect, consequential, compensatory, incidental, actual, exemplary, punitive or special for the use of, reference to, or reliance on this white paper or any of the content contained herein, including, without limitation, any loss of business, revenues, profits, data, use, goodwill or other intangible losses.