Major Changes Ahead: ICE Shifts Focus to Mainnet Development
ICE has long captivated its community of miners with the promise of a robust, decentralized ecosystem fostering meaningful connections. Today marks a pivotal moment in working towards that vision as ICE ceases mining operations to concentrate resources on developing their user-powered mainnet app. While difficult, the decision comes after careful evaluation of the substantial expenses associated with maintaining phase one mining activities.
By stopping mining services that distribute coins to build initial network adoption, the team can redirect over $50,000 in monthly costs and refocus invaluable developer time. The tradeoff will allow ICE to expedite mainnet delivery, ultimately empowering the community with the technology to govern real utility. However, to avoid losing eligibility for the final distribution, miners must complete a few critical steps before February 28th.
Complete These Steps Before February 28th
All ICE miners must pass the available quiz, add their BNB Smart Chain address, and continue daily mining taps within the app to qualify for the upcoming distribution. Failure to finish these actions will result in a total loss of ICE coins earned through mining efforts.
With the project entering a new era, ICE has reset the prestake amounts of all users to zero. The only factor determining final distribution portions will be the amount of ICE coins successfully mined. 30% of balances will go towards a 5-year locked mainnet rewards pool to incentivize creators, nodes, and validators.
Specific details related to lock periods for the various distribution pools are as follows:
- Community Pool: No lock period
- Mainnet Rewards Pool: 5-year lock beginning mainnet launch on October 7, 2024. Quarterly distributions start on the same date.
- Team Pool: 5-year lock beginning mainnet launch, with proportional quarterly distributions also starting on October 7, 2024.
- DAO Pool: Identical lock period and distribution schedule as the team pool.
- Treasury Pool: 5-year lock beginning on distribution date to BNB Smart Chain addresses. Proportional distributions quarterly after that date.
- Growth Pool: Equal treatment as treasury pool.
The balances viewable on February 28th reflect mining slash rates for missed daily taps and success rates on the mandatory quiz.
Shifting Momentum to Mainnet Execution
While significantly altering established mining operations may seem disruptive in the short term, it enables renewed focus on executing ICE’s long term vision – a decentralized and community-run network facilitating authentic connections.
The ICE team remains committed to transparency as they work in good faith towards technological milestones that underpin the full democratic governance they someday hope to actualize.
In the next few months as mining wraps up, the community can expect engaging announcements detailing testing and refining mainnet components:
- Testnet launch with the Ice Open Network wallet and block explorer to inspect transactions.
- Introduction of Frostbyte, a core app powering social interactions and content incentives on the future ICE mainnet.
- Beta trial periods for the production mainnet app itself, with contributor feedback informing critical development decisions.
The team extends their profound gratitude to the early believers willing to embrace the project’s lofty ambitions. By redirecting resources from the capital-intensive mining phase to priorities accelerating mainnet launch, ICE can soon transition oversight to the inspired collective of community stewards at the heart of their vision. Miners willing to complete the aforementioned actions signaling their commitment to the cause will gain the influence to shape the decentralized future ICE has always promised.
This transition marks a new chapter as ICE moves closer to unveiling technology placing community values over profits. Miners invested in the dream should prepare for distribution before February 28th by passing the quiz, adding their BNB address, and continuing daily mining taps. Though the road ahead still stretches into the distance, ICE’s resolve to reach the destination has never wavered – not even today.