Recently Updated Ice network KYC3 Q&A

 Recently Updated Ice network KYC3  Q&A

1. On what network will the ice distribution take place?

✅ BNB Smart chain

2. How can users earn ice on the ice network?

✅ By checking in every 24hrs

3. What is the staking concept similar to?

✅ Depositing money in the bank

4. What block chain technology does the ice project use for it's concensus mechanism known for it's speed, security and scalability?

✅ Proof of stake (POS)

5. What is the primary goal of the ice network?

✅ To build a decentralized ecosystem

6. What is the role of validators in the ice network governance and operation?

✅ Validators are tasked with maintaining the networks security and availability.

7. What is the main advantage of ice being an open source project?

✅ it promotes transparency and allow everyone to review the project code.

8. How can a user restore lost coin due to inactivity in the ice project?

✅ By initiating a new check in session and choosing the resurrection option

9. How many times can you benefit from the resurrection option in the ice project?

✅ once

10. What make ice unique in the concept of crypto mining

✅ it allows users to mine without using their phones resources, data and battery

11. During phase 1 of the ice project, how much can users increase their mining rate through pre-staking?

✅ 250%

12. What happens to the coins of users who become inactive in the ice project?

✅ They are gradually lost through progressive slashing

13. When are users notified about the availability of extra bonuses in the ice project?

✅ Between 10:00 -20:00

14. How is the pre stake bonus in the ice project rewarded to users

✅ By increasing their mining rate

15. Does mining in the ice network requires keeping the app open all the time

✅ No mining doesn't consume any phone resources

16. How does ice project aim to demonstrate the value and reliability of its digital coin to gain wilder acceptance

✅ By binding trust with owners and users

17. How does the ice project encourage trust and social connection among its users?

✅ By offering bonuses based on referrals and network activity

18. What information can you find on the team screen in the ice project app

✅ The current check-in activity of your referrals

19. What distinguishes the ice network from other mining method

✅ It reward those who actively build micro communities

20. What happens after you use all the accumulated days off in the ice project

✅ You automatically enter the slashing mode

21. What factor determines the total supply of ice coins

✅ Multiple factors including total registered users, online miners, halving events, and bonuses

22. How long is the staking period for users who close to pre stake their ice in preparation for the main net releases

✅ Up to 5 years*

23. How often will BNB smart chain distribution occur in the ice network

✅ Monthly

24. In the Ice project, how many consecutive days of mining are required to accumulate one day off?

✅6 days

25. What bonus do you and your Tier 1 friends receive when mining collectively?

✅25% bonus

26. In the Cryptocurrency industry, what does the term, 'halving' signify? 

✅The process of reducting the issuance rate of new coins

27. If a new bonus is granted and claimed before the current one expires, how long does the daily extra bonus remain valid in the Ice project?

✅24 hours

28. How does the Ice Network differ from conventional mining methods?

✅It rewards those who actively build micro-communities

29. What is the primary focus of the Treasury Fund in the financial ecosystem of the Ice network?

✅Funding marketing campaigns for the Ice network

30. What's the primary role of the Ecosystem Growth and innovation Pool Fund within the Ice network?

✅To foster innovation and expand the ecosystem

31. How does Ice benefit from being an open-source project?

✅It promotes transparency and allow anyone to review the project's code

32. How are validators chosen and re-elected within the Ice Network?

✅ Validators are elected by the community and must be reelected every two years

33. What fundamental principle of the Ice project underscores the importance of collaboration and cooperation among individuals with positive intentions?

✅ Transparency

34. What kind of bonuses do you receive for Tier 1 friends directly refered by you and Tier 2 friends referred by your Tier 1 friends in the Ice project?

✅ 25% for Tier 1 and 5% for Tier 2

35. How does the Ice network handle governance?

✅ Decentralized, Community-driven governance