The ICE Halving is a biannual event where rewards from ICE Poker’s Challenge Mode are reduced by 50%—establishing $ICE as a scarce digital asset with a finite supply cap.
$ICE’s finite supply cap delivers both a strong new narrative of digital scarcity and ensures long-term sustainability. We expect it to immediately improve the ICE economy and allow us to distribute new sustainable bonus rewards to the community from economic surplus.
The first ICE Halving will happen on Wednesday, February 15, 2023, and repeat every 6 months after.
Keep reading to learn about the ICE Halving, new bonus rewards, and more.
What is The ICE Halving?
Following a nearly-unanimous passed governance proposal, The ICE Halving is a new biannual event where $ICE rewards from Challenge Mode are reduced by 50%. The first ICE Halving will reduce rewards as follows:
- Easy Challenge: 45 $ICE → 23 $ICE
- Medium Challenge: 100 $ICE → 50 $ICE
- Hard Challenge: 150 $ICE → 75 $ICE
The first ICE Halving is February 15, 2023 and will repeat every 6 months:
Similar to Bitcoin’s halving events, each ICE Halving event reduces daily emissions to solidify the digital scarcity of $ICE. As more halving events happen, $ICE’s supply will approach a finite supply cap.
ICE Halving Economy Calibration
We’ll be calibrating various economic variables to maintain balance within the ICE ecosystem. Following the first ICE Halving, wearable redemption costs and upgrades will be updated to:
- Badge redemption cost: 99 badges → 50 badges
- Banked ICE redemption cost: 40,000 Banked ICE → 25,000 Banked ICE
- Activation cost: 2,500 $ICE → 1,400 $ICE
- Upgrade costs
- Level 2: 5,000 $ICE → 3,000 $ICE
- Level 3: 7,500 $ICE → 4,000 $ICE
- Level 4: 10,000 $ICE → 5,000 $ICE
- Level 5: 12,500 $ICE → 7,000 $ICE
The team will continue to monitor and balance these values over time.
Economic Surplus Bonus Reward
All Access wearable owners will receive a new economic surplus bonus reward when the ICE ecosystem’s burn-to-earn ratio is greater than 1:1 (excluding DG DAO $ICE purchases).
Economic surplus = (Revenue from Shine purchases and wearable upgrades) – (Emissions generated)
This bonus reward will be 50% of the economic surplus. For example: If the economy’s burn-to-earn ratio is 1.5 then 50% of the extra 0.5 (surplus) will be rewarded to All Access wearables owners.
Economic surplus will be calculated on a weekly time frame, and then distributed as $ICE or Shine added to a wearable of your choice.
Bonus Reward Criteria
Economic surplus bonus rewards will be randomly awarded to All Access wearable owners based on player activity.
You can increase your chances of receiving a bonus reward by:
- Playing multiple days during the week
- Owning multiple wearables
- Owning higher ranked wearables
This bonus reward model incentivizes All Access owners to play the bare minimum while also rewarding players and team owners who re-invest into the ecosystem.
Long Term Sustainability
By implementing a finite supply cap of $ICE through Bitcoin-style halving events, we can achieve a greater than 1:1 burn-to-earn ratio immediately after the first halving event.
As we continue to scale Arcade Mode, combining a limited supply with increasing demand for $ICE will dramatically improve the ecosystem even further.
- There will be a large increase in $ICE burned from Shine purchases as we onboard more players.
- The launch of our new Prize Marketplace with high-ticket physical prizes provides larger incentives for players to continue playing.
While The ICE Halving is a significant change, it presents a huge opportunity for our community to solidify sustainable economics and be a leader in the web3 gaming space.