Announcing Ice DAO and the road to keep growing the Treasury
Hello snowmen, that’s been a moment that we didn’t publish a Medium article! So we are excited to communicate our freshly developed strategy for Ice DAO.
Recap of what happened since Ice DAO’s launch
As you know, we concluded a partnership with StarshipDAO. At first, we were confident concerning the legitimacy of this project. StarshipDAO’s developers were communicative with the Snowman and kept us updated about the development of their project. We trusted them and thought everything would be legit. However, some members of our Discord were concerned about a potential rug from Starship, so we dug more to have proof that they were going to rug. For this reason, we advised our community to stay away from them.
Thanks to one of our community members (ZedZed#3858), who made a thread to prove that they had bad intentions, we stopped the partnership and debunked StarshipDAO, advising our community to not invest into their presale!
We’re really happy that we could debunk them because if we would have kept the partnership, it could have been the death of Ice DAO.
Thank you for your help!
We launched marketing and are in touch with several influencers, we got promotional assets from some of them, and videos from a few YouTuber influencers. We’re trying our best to make our project known to everyone!
At the moment we’re writing this, we’re sitting at $50,000,000 of market cap and a TVL of $33,000,000! That’s just incredible and we’re so hyped by the direction Ice DAO is taking.
If you kept your presale coins and hodled and staked from the beginning of the project, that would be worth now approximately $48,000. Congrats Diamond Hands.
Ice DAO team
We heard that you would like to know more about the team, so we will speak a bit about ourselves. However, we will still stay anonymous.
Who are we ? How did we launch Ice DAO ?
Marketing/communication: So I am (THE SNOWMAN) a French student, I made my way through crypto by just buying some at first, then I heard about DeFi, and I fell in love with it. After investing in a project on BSC, with good potential and amazing ideas from devs, but had bad communication and marketing, I knew I had to do something in the space. So what I did is that I reached out to developers, and told them that we should develop a project on Avalanche, an OHM fork (Yes, I believe in 3,3). I shared that I could handle the marketing/communication side. They accepted and we started to work on Ice DAO, and you know what happened after that!
I don’t have previous experience launching projects, and this is my first journey through being a core team member!
Development: Our development team is located in Hong Kong, they (multiple developers) are experienced, and already launched successful blockchain projects. They directly accepted me to take care of the marketing/communication side when I asked them if it was possible. They did an amazing job with Ice DAO, and they continue to deliver everything on time, the most important part of our success!
Designer: Our designer is Dopo, he’s Dutch and runs his own design agency! He did an amazing job with our website (we’re are going to redesign it soon btw) along with our first branding elements. We included him in the core team after he delivered and showed a lot of interest in the project. He’s not only our designer, but he is also participating in developing our strategy and vision!
This was a brief introduction to the team, we hope it will reassure you concerning the seriousness of the team! We are still reviewing applications for more marketing support.
ICE DAO and the Road to Grow the Treasury
How can ICE DAO grow and create SUPER value for its members?
This plan has been long in the making and we are very happy to present to you our strategy for the treasury of ICE DAO. We are looking to take ICE DAO to the next level.
To continue to be a community-driven organization, we will create an official vote to activate that new strategy.
(At the moment we’re writing this, the vote to allocate 150,000 MIM to $TIME and stake it was passed.)
Treasury Strategy ELI5 Version
At present we have about 2,620,000 MIM in our treasury. This is not much value as it sits still. What we are proposing is to make the treasury work with us by locking it in different stablecoin farms. The current farms we are evaluating are Anchor Protocol 17% APY (with Insurance 3%), Anchor Protocol 100% APY (Looping with Abracadabra.Money). We think this provides the best value with the lowest risk for the community since Stablecoin farming is such a low risk.
In addition, we have other methods that are riskier and they are broken down by levels of risk in three different methods. When new stablecoin farms/methods come up, the team will propose them to the community and it will go to a vote.
Additionally, we will be adding more stablecoin and non-native ICE DAO assets to make them bondable, to further diversify the treasury and the income of ICE DAO. These new bondable stablecoins will be used to grow the treasury in even more low-risk yield farming.
The earnings generated from stablecoin yield farming could be used to put money into protocols withinside the crypto space, those protocols could be selected through the DAO participants holding $GLA. The profits generated from the low-risk farming can be used for riskier yet more lucrative investments than the initial low-risk stablecoin yield farming.
What we want you to think about is using these profits to purchase game assets, nodes, staking, etc. The sky is the limit since it is only a portion of the profits. Again, only the profits from stablecoin yield farming will be used on these high-risk investments.
What about security and transparency? The elephant in the room
As we have shown in the early stages of ICE DAO, we have worked with a multi-sig. The multi-sig is under the dev team and marketing/communication team, so we assure that each side of the team can’t leave with funds (That’s not our intention). Our plan is to allow the community to follow all the transactions done by the treasury, again keeping security and transparency in mind. We will further our transparency by creating a view-only channel where all of the transactions (yield farming transactions) will be posted, so the community can remain in the loop.
Also, we added all contract addresses of Ice DAO to our Gitbook: https://app.gitbook.com/s/dk0KiXMYf8uSkLlTYjT4/contracts/contracts-addresses
What about the team? Team Remuneration
To continue to develop our team, that is actively working for the DAO, we are proposing incentivizing the team with a profit share of the yield farming, this way the team is incentivized to grow the treasury of the DAO.
In other words, if the DAO generates income through yield farming, the team will earn a percentage of the profits and only the profits. This is in our opinion the best solution so that team will be encouraged to make the treasury grow in the best way possible.
To do this ICE DAO will be setting up a vote for what percentage of profits will be allocated to the team. What we are proposing is a 15%, 20%, or 25% allocation of profits for the team. To continue our efforts to be transparent this will also go to a community vote.
If the treasury of 1,000,000 generates a 20% yield per year, about $200,000 in profit for the DAO treasury, 20% of that $200,000 profit, would go to the team for working the whole year. Being a total of $40,000 for team.
The Snowman is in touch with multiple projects at the moment, and we potentially have come to a little partnership with a launched project. More on that to come.
What is the Snowman working on ?
Our team is working on our lending project, don’t worry we don’t abandon Ice DAO, this project is directly related to it.
For the moment, our devs are working to create everything we need for it. Our marketing/communication team will launch socials soon.
We advise you to join our socials as soon as we launch them, because we will hold a presale, and yes, you could get some WL spots too.
We’re going to launch $wGLA soon.
We are also studying a possible option of making Ice DAO multi-chain.