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Popsicle Finance listed in Tokenbase

 

Popsicle Finance is a platform developed for automated cross-chain throughput optimization. The platform manages your cryptocurrency investment by allocating it to multiple liquidity pools on decentralized exchanges (DEXs) to maximize throughput. As such, it helps you take a more transferential approach to yield optimization.

Authors: Christian Viehof, Valentin Kalinov

 

Rather than digging through the vast array of pools on decentralized exchanges (DEXs) and trying to figure out the best investment options, Popsicle lets you manage your portfolio in an automated way.

A big advantage of Popsicle is the ability to allocate your investment across a variety of blockchains and protocols. Popsicle currently supports five platforms — Ethereum (ETH), BSC, Fantom (FTM), Avalanche (AVAX) and AnkrETH (AETH). However, the vast majority of activity takes place on the first two of these platforms.

 

What functionality does the token hold?

 

The ICE token, in addition to being used in one of the most popular pools on the platform, is also used as Popsicle’s governance token. Ownership of ICE gives you the right to participate in the on-chain voting process on the protocol. The platform is intended to be a fully decentralized protocol with ICE holders responsible for its overall direction and potential changes.

In the first stage of the governance voting process, ICE holders can submit change proposals. The right of ICE holders to make such proposals is determined by the general ownership of the ICE fund to the user. This includes ICE held in your portfolio as well as staked in liquidity pools.

The general ownership of the ICE determines the base voting power of the user. This voting power is further adjusted to take into account how long ICE funds have been held. If the user has held ICE funds for at least three months, their voting power will be multiplied by 1,25. Every three additional months of fund ownership increases the multiplier by 0,25.

The maximum possible multiplier value is 2,0, which applies to the base voting power for funds held for at least 12 months. This system is designed to encourage long-term ownership of ICE.

The final adjusted voting power score determines whether the user can make the proposal. The proposal then moves to the next phase, where it needs to gather a sufficient number of supporting votes. If there is sufficient preliminary support for the proposal, it will then be moved to the final stage for formal binding voting.

If the proposal gets enough votes in the final phase, it is automatically implemented by the protocol. As such, Popsicle uses the chain governance model. The main feature of this model is the automatic implementation of any protocol changes when voting is successful.

 

How does Popsicle Finance (ICE) work?

 

Popsicle’s current main product is an Uniswap V3 optimizer. It offers throughput optimization on more than 14 swap pools in total. Each swap pool represents a pair of cryptocurrencies traded on Uniswap. In the future, more pools are in the project pipeline.

All current pools have a common currency — Ethereum (WETH). Each of the 14 pools represents a WETH pair with a second currency trading WETH on DEXs. Some of the pools on offer include WETH/USDT, USDC/WETH, WETH/ICE and FTM / WETH.

Limone, Popsicles second product, is a typical LP yield optimizer in the sense that it will actively seek out highly traded pools on several blockchains and hence generate greater fees as rewards. On top of that, pools with high incentive rewards i.e. farm tokens will also be utilised to increase the LPs gains through auto compounding.

 

Figure 1 — Popsicle Finance infographic (Source: https://bit.ly/3GIIERy)

Think of this as an actively managed fund allowing the average retail DeFi user to get a glimpse of how the big guys roll. By collectively coming together in the Limone pool, users will collectively earn rewards and receive an equal distribution of the rewards based on their LP contribution.

 

The classification of ICE according to the ITC:

 

Figure 2: The ICE Tokenbase entry (Source: https://itin.itsa.global/51RCVGQH1)

Economic Purpose (EEP): ICE is listed as a Settlement and Governance Token (EEP22TU03) due to its design as a means of collateral combined with governance functionality.

Industry Type (EIN): The issuer of ICE is active in the field of Decentralized Exchanges, Markets and Market Making (EIN06DF01).

Technological Setup (TTS): ICE is an Ethereum ERC-20 Standard Token (TTS41BC). The Class “Ethereum ERC-20 Standard Token” captures every Token that is implemented by means of the ERC-20 Standard on top of the Ethereum blockchain.

Legal Clam (LLC): ICE does not entitle its holder to any legal claim or rights against the issuing organization, therefore it is listed as a No-Claim Token (LLC31).

Issuer Type (LIT): The dimension “Issuer Type” provides information on the nature of the issuer of the token. ICE’s platform is built by a team of programmers and engineers that make up the core contributors. It’s Issuer Type is a Private Sector Legal Entity (LIT61PV).

Regulatory Framework (EU) (REU): The dimension “Regulatory Status EU” provides information of the potential classification of a token according to the European Commission’s proposal for a Regulation on Markets in Crypto Assets (MiCA, Regulation Proposal COM/2020/593 final). ICE qualifies as an Utility Token (REU52) according to the definition provided in Article 3 (5) of Regulation Proposal COM/2020/593 final.

 

The International Token Standardization Association (ITSA) e.V.

 

The International Token Standardization Association (ITSA) e.V. is a not-for-profit association of German law that aims at promoting the development and implementation of comprehensive market standards for the identification, classification, and analysis of DLT- and blockchain-based cryptographic tokens. As an independent industry membership body, ITSA unites over 100 international associated founding members from various interest groups. In order to increase transparency and safety on global token markets, ITSA currently develops and implements the International Token Identification Number (ITIN) as a market standard for the identification of cryptographic tokens, the International Token Classification (ITC) as a standard framework for the classification of cryptographic tokens according to their inherent characteristics. ITSA then adds the identified and classified token to the world’s largest register for tokens in our Tokenbase.

  • The International Token Identification Number (ITIN) is a 9-digit alphanumeric technical identifier for both fungible and non-fungible DLT-based tokens. Thanks to its underlying Uniform Token Locator (UTL), ITIN presents a unique and fork-resilient identification of tokens. The ITIN also allows for the connecting and matching of other media and data to the token, such as legal contracts or price data, and increases safety and operational transparency when handling these tokens.
  • The International Token Classification (ITC) is a multi-dimensional, expandable framework for the classification of tokens. Current dimensions include technological, economic, legal, and regulatory dimensions with multiple sub-dimensions. By mid-2021, there will be at least two new dimensions added, including a tax dimension. So far, our classification framework has been applied to 99% of the token market according to market capitalization of classified tokens.
  • ITSA’s Tokenbase currently holds data on over 4000 tokens. Tokenbase is a holistic database for the analysis of tokens and combines our identification and classification data with market and blockchain data from external providers. Third-party data of several partners is already integrated, and API access is also in development.

Remarks

 

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Christian Viehof is an Executive Director at the International Token Standardization Association (ITSA) e.V., working to create the world’s largest token database including a classification framework and unique token identifiers and locators. He completed his Bachelor in Economics at the University of Bonn, the Hong Kong University and the London School of Economics and Political Science with a focus on Behavioral Economics and Finance. Currently pursuing his Master of Finance at the Frankfurt School of Finance and Management, you can contact him via christian.viehof@itsa.global and connect with him on Linkedin, if you would like to further discuss ITSA e.V. or have any open questions.

Valentin Kalinov is an Executive Director at International Token Standardization Association (ITSA) e.V., working to create the world’s largest token database, including a classification framework and unique token identifiers and locators. He has over five years of experience working at BlockchainHub Berlin in content creation and token analysis, as a project manager at the Research Institute for Cryptoeconomics at the Vienna University of Economics and token analyst at Token Kitchen. You can contact Valentin via valentin.kalinov@itsa.global and connect on Linkedin if you would like to further discuss ITSA e.V. or have any other open questions.