In early 2025, the blockchain industry welcomed a new entrant with Ice Blockchain's launch of Ice Open Network's mainnet. Despite being a newcomer in a crowded market, Ice Blockchain boasts a community of over 40 million members.
ICE Token Utility
The ICE token serves multiple functions within the Ice Open Network ecosystem. It acts as the primary means for transaction fees. ICE token holders gain voting rights on network proposals, granting the community influence over development. It is also used for network security through staking.
Token Distribution
ICE has a total supply of approximately 21.15 billion tokens. The initial distribution includes: 28% for Community Mining Allocation, 12% in the Rewards Pool, 25% for the team, and other categories. Many tokens remain on the BNB Chain, with over 350,000 holders.
Deflationary Mechanism: Effective or Not?
Ice Blockchain implements a deflationary mechanism through a tipping system for content creators. 20% of each tip is burned, potentially reducing token circulation. However, its effectiveness depends on user participation, raising concerns.
While Ice Blockchain has a clear strategic market approach, questions remain about the long-term viability of the ICE token. Network activity and adoption will be critical for the project's success. With increasing competition among L1 blockchains, user engagement will be pivotal.
