IceCreamSwap, founded in June 2022 by Simon K., is a decentralized exchange (DEX) offering multichain support for various cryptocurrencies. Operating on a fully decentralized and trustless model, it utilizes unmodified Uniswap V3 Smart Contracts for security. IceCreamSwap is the first and largest decentralized exchange on the Bitgert blockchain.^[1][2][3][4]

Overview

IceCreamSwap serves as a multi-blockchain DeFi ecosystem aiming to facilitate trading, bridging between blockchains, and earning passive income in a non-custodial manner, ensuring users maintain control over their assets.

As a decentralized exchange (DEX), it enables token swapping, liquidity provision, and rewards. Originally working through Uniswap V2, IceCreamSwap is now leveraging Uniswap V3 Smart Contracts for security.

Operating as a multichain exchange, IceCreamSwap facilitates various functions across different blockchain networks. It currently provides support for several chains, including CORE, Neon EVM, Shimmer EVM, Scroll, XDC, Telos, Bitgert, Base, Doge, Fuse, XODEX, Binance Smart Chain, and Shardeum (Testnet).

Through its platform, users can engage in bridge operations, swap and provide liquidity for tokens, participate in farming activities, stake assets, and access essential network information.^[2][3][4][5]

From V2 to V3

IceCreamSwap has transitioned from utilizing Uniswap V2 to V3, altering its liquidity provision and trading strategies. Uniswap V2 employs the constant product AMM model, while V3 introduces concentrated liquidity, intended to enhance capital efficiency and provide finer control over trading. V3 also offers multiple fee tiers and NFT liquidity positions.

This transition brings benefits like lower trading costs and customizable strategies but may pose challenges, including added complexity and potential liquidity limitations.^[6]

AI DEX Aggregator

IceCreamSwap incorporates an AI-powered DEX aggregator, simplifying liquidity access across decentralized exchanges (DEXs) via a unified interface. This aggregator employs sophisticated algorithms to identify efficient trading paths, consolidating liquidity across chains.

It aims to distinguish itself by optimizing trading opportunities, facilitating smooth execution through route simulations, and offering an accessible API for seamless integration into external platforms.^[7]

KYC Delegator System

IceCreamSwap has introduced a KYC delegation system to address the growing concerns of scams on COREchain. The system allows project founders to delegate their verified status to their smart contracts, displaying a KYC badge in the token list.

This initiative aims to enhance safety and trust within the platform. Upon verification, users and projects receive a soulbound token, indicating their KYC status. Verified projects gain additional functionality and community trust, while users can access airdrops and participate in community activities. ^[8]

Token Locker

IceCreamSwap has implemented a Token Locker feature with the aim of enhancing fund security and stability for tokens listed on its DEX. This program allows users and projects to lock their tokens for a specified duration, after which they can claim the tokens.

The Token Locker is deployed on multiple chains including XDC Network, Bitgert chain, and Core Dao chain, intended to ensure transparency and immutability of transactions.

By locking tokens, projects can mitigate potential risks such as rug-pulls, while also reducing selling pressure on their tokens, contributing to price stability.

Additionally, users have the flexibility to lock any token of their choice for a customizable period on IceCreamSwap.^[9][10]

ICEPAD

IceCreamSwap introduced ICEPAD, a Multichain LaunchPad designed to facilitate secure project launches on the Core Dao Network. ICEPAD serves as an incubator, aiming to provide transparent fundraising opportunities through early user contributions.

It emphasizes transparency and fund security by conducting KYC checks on new projects to prevent fraudulent activities. ICEPAD utilizes a unique IDO model to ensure equitable token distribution based on project tokenomics, with Softcap and Hardcap models implemented for fundraising objectives.

Users can participate in token sales using ICE tokens, and token distribution is determined by the amount of ICE contributed during the IDO.^[11]

Token Deployer

IceCreamSwap offers a Token Deployer tool designed to streamline token creation for project developers in the DeFi sector. This tool enables developers to input essential token details like name, symbol, total supply, and initial liquidity through a straightforward interface.

Once entered, the Token Deployer automatically generates and deploys the smart contract to either the Base or Core chain, based on the selected network. This process is intended to be trustless, allowing users to create tokens efficiently without direct involvement from the IceCreamSwap team.^[12]

Tokenomics

IceCreamSwap Token (ICE)

The ICE token functions as the native and governance token for IceCreamSwap's decentralized exchange (DEX), initially established on the Bitgert chain. It is available in different variations across multiple chains, including CORE, Telos, Base, and Shimmer EVM.

Users have the opportunity to generate passive income through staking or farming activities with the ICE token. Additionally, ICE token incorporates a deflationary mechanism with a buyback feature.

As new functionalities are introduced, ICE aims to provide increased profitability for its holders and users. The total supply of ICE tokens is capped at 10 million, with a current supply of roughly 400,000.^[13][14]

IceCreamSwap StakedCore Token (SCORE)

The StakedCore (SCORE) token, introduced by IceCreamSwap, aims to enhance staking on the Core DAO network through liquid staking.

Users convert CORE tokens to SCORE, staking them in the Delegated Proof of Stake (DPoS) section of the Satoshi Plus Consensus mechanism. This process automatically compounds rewards, increasing the SCORE token's price. SCORE closely tracks the price of CORE while consistently outperforming it due to additional staking rewards.

Unlike traditional staked tokens, SCORE remains accessible for utilization like other ERC20 tokens. Introduced on February 25, 2023, via Twitter, users can hold or use the SCORE token within Decentralized Applications (dApps).

The deposit and withdrawal processes for SCORE tokens are managed through IceCreamSwap's SCORE smart contract, simplifying conversion between CORE and SCORE. Additionally, IceCreamSwap aims to establish a substantial CORE/SCORE liquidity pool for seamless trading.^[15][16][17]

Security

CertiK Audit

In 2023 IceCreamSwap underwent a rigorous security audit by CertiK, a top blockchain security firm, affirming its commitment to user safety and trust in the DeFi space. Enhanced security measures, including a KYC system and smart contract audits, bolster the platform's credibility and mitigate potential scams. ^[18]