Ice Colony

ICE Colony

Introduction

Ice Colony is a gamified NFT project offering a wide variety of utilities with its NFTs such as yield farming, seigniorage and play to earn games. The project aims to adapt the models of successful projects and build new features on them using ERC-721 and ERC-1155 NFT standards.

Users in the first phase will be able to build ICE (Insentient Celestial Excavator) using the factories on the planet and send them to mine asteroids in the space. This phase is now over.

In the second phase of the project, ICE token rewards will be converted into NFTs.

The third phase will allow NFTs to print a pegged token to matic via seigniorage. And the forth phase will offer a play-to-earn game for the NFT collection.

Tokens

Insentient Celestial Excavator (ICE)

$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.

Contract Address: 0x6ad1eEdDf1b1019494E6F78377d264BB2518db6F

ICE Dollar (ICD)

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.

ICE Dollar Bonds (ICDB)

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.

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.

NFTs

There are 8 different components required to mint a genesis NFT.

1. Background

2. Torso

3. Arms

4. Head

5. Mouth

6. Nose

7. Eyes

8. Hair

Each component have different rarity models such as golden arm or a silver arm. And higher rarity components provide more allocation when printing ICE Dollar. Allocation points of 8 different components are summed up when you mint your genesis NFT. Components alone cannot grant you a yield unless you mint the Genesis NFT; however, the components can still be sold on Opensea.

Both NFTs will have a royalty fee of 5% on Opensea. These fees will be accumulated in the DAO fund as a collateral, and they will be used to increase the price of xMatic if the peg cannot be sustained with other mechanisms.