iceCREAM turns CREAM into a productive asset which earns protocol fees.
iceCREAM tokens will have the same three main use cases as CRV - voting, staking, and boosting.
- Lock CREAM between 1 week to 4 years to receive iceCREAM.
- iceCREAM becomes non-transferable and non-tradeable.
- 50%+ of Protocol Reserves going forward will be distributed as ycrvIB tokens to iceCREAM stakers.
- 1 iceCREAM = 1 vote in the future of C.R.E.A.M. Finance governance.
- iceCREAM staked translates to voting power which can be used to determine allocation of CREAM token liquidity mining by chain and market (e.g.- Ethereum, ETH).
If liquidity mining is enabled on borrow markets (more on this as part of phase II)
- Once you vote, your vote will remain directed at pools unless modified.
- Users will have the ability to change their votes every week and will be able to allocate their iceCREAM to different pools.
- iceCREAM allows the user to control CREAM emissions across all C.R.E.A.M. markets in the future.
- iceCREAM increases emission from a base factor of 0.4 to a max of 2.5x, the more iceCREAM you stake, the more CREAM you earn.
Assuming 1000 CREAM vote-locked:
For the early supporters of C.R.E.A.M. Finance who locked their CREAM in the long-term staking program, these token holders should be entitled to governance alongside iceCREAM holders, but will not be eligible for emission boosts.
We propose to implement this new tokenomics in a phased approach, where Phase 1 implements locking CREAM into iceCREAM, migration of voting from CREAM to iceCREAM, and distribution of protocol fees to iceCREAM stakers.
Move to CREAM as a productive earning asset