Announcements Gate.io Supports Popsicle Finance (ICE) Token Split and Migration to WAGMI

Gate.io Supports Popsicle Finance (ICE) Token Split and Migration to WAGMI

2023-10-19 07:03:46 UTC 23182 Read

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According to the Popsicle Finance (ICE) team, the Popsicle Finance (ICE) tokens will be swapped for WAGMI at a ratio of 1:69. Gate.io will provide seamless token swap services for users. If your Popsicle Finance (ICE) tokens are currently on Gate.io, you don’t need to do anything in particular.

Swap Ratio: 1 ICE: 69 WAGMI

**Details: **
1) Gate.io will suspend the deposit, withdrawal, and trading services for Popsicle Finance (ICE) starting from October 20, 2023, 03:00 UTC, including spot trading, liquidity mining, and quantitative trading.
2) Users who have in-progress Popsicle Finance (ICE) quantitative trading should adjust your trading strategies beforehand. Otherwise, the strategies will be terminated automatically before October 20, 2023, 03:00 UTC.
3) Users who have provided liquidity for Popsicle Finance (ICE) in the liquidity mining pool should withdraw the liquidity in advance. Otherwise the liquidity will be automatically redeemed before October 20, 2023, 03:00 UTC.
4) New Token ID for WAGMI: 0x92CC36D66e9d739D50673d1f27929a371FB83a67 (ETH)

Tokenomics: 
The maximum supply of ICE is 69 million, with 72.7816% burned, totaling 24,157,859. 
The total supply of WAGMI is 4.761 billion, with the exchanged non-minted WAGMI totaling 3,386,342,187. 
(Note: The token split results in a more than threefold increase in supply, please be aware of trading risks)

ICE Tokenomics: Please note that following the passing of the Tokenomics proposal made by the team 44,842,141 ICE have been burned bringing the ICE token allocation as follows:
Airdrops：19.99%
IFO ：8.57%
Team/Devs  ：28.56%
LP Rewards ：27.33%
Dao: 15.54%

WAGMI Tokenomics:
1.Protocol Growth and Development (80%)
This portion (representing 80% of all new WAGMI tokens) is allocated to ensure protocol growth and development.
The uses include, but are not limited to:
Acquiring POL
Incentivizing leverage trading
Incentivizing GMI positions
Building a strategy insurance fund.

2.Operational Multisig (20%)
20% of the newly minted WAGMI tokens are dispatched to an operational multisig.
This fund controls the tokens to ensure the smooth running of protocol operations. The uses include, but are not limited to:
Salaries
Legal fund
Treasury building
Grants
Financing audits

**Please note that after the swap is completed, Gate.io will no longer support Popsicle Finance (ICE) tokens. The listing time of WAGMI will be announced later when Gate.io completes the listing review.**

Project team’s announcement: 
https://twitter.com/PopsicleFinance/status/1703855036781023596

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Gate.io Team
October 19,2023

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Gate.io Supports Popsicle Finance (ICE) Token Split and Migration to WAGMI

Gate.io Supports Popsicle Finance (ICE) Token Split and Migration to WAGMI

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