$ICE Emission Farming Update

Published on: 14.06.2022

The current situation

$ICE Emission farming update.

They have analysed all of the $ICE pools across different chains and have realised that their liquidity is currently more fragmented than they would like. Today, they 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 they 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.

The Update

Given the current state of the markets, $ICE volumes, like most other DeFi tokens, are currently low. As such, they do not want to continue diluting the holders to incentivise liquidity that they do not need right now.

Starting from this week, they 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 the farming pools will be able to withdraw and harvest already-earned rewards for the foreseeable future.

Note that despite the decision to pause, they 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 their own liquidity. The plans for the next months is to utilize the 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, they might decide to use Limone ICE/XXX pools to allow for leverage LP farming on Sidechains!