Ice Open Network
ION
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
ION (Ice Open Network) demonstrates severe operational, security, and market weaknesses across all evaluated dimensions. While repository activity shows ongoing codebase updates into early 2026, the project suffers from critical vulnerabilities and disclosures. In April 2026, the team confirmed an insider data breach compromising user identity records, email addresses, and 2FA phone numbers, alongside acute operating distress characterized by an $18 million cash burn and near-insolvency. Furthermore, tokenomics remain pressured by high insider concentration (45%) and high staking inflation, while market liquidity is thin following a >96-97% drawdown from all-time highs and persistent market fragmentation from its migration from legacy ICE. No independent, third-party security audits specific to ION's own Layer-1 modifications have been verified.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Ice Open Network (ION)
Ice Open Network (ION) is a Layer-1 blockchain token established following a 1:1 migration from the legacy ICE token upon launching its mainnet in January 2025. Developed as a fork of the TON codebase, the network is built around an identity-oriented architecture and features a capped supply of 21.15 billion tokens. The network's tokenomics incorporate a usage-linked fee burn and buy-back framework alongside staking rewards, with an initial distribution that included a 28% immediately unlocked community allocation and a 45% insider and development pool concentration.
Governance within the project is centralized under top-down executive leadership without on-chain democratic voting mechanisms. While development activity across the project's public repositories continued into early 2026, the project has lacked public tagged releases and detailed changelogs. In addition, no third-party security audits specific to ION's modified Layer-1 codebase or smart contracts have been verified by independent audit firms.
The project has experienced acute operational distress, security incidents, and market decline. In April 2026, leadership disclosed near-insolvency conditions following an $18 million cash burn, alongside listing disputes with exchanges including OKX. During the same month, an operational insider breach occurred when four former third-party contractors accessed an identity database server and exported identity key names, public keys, email addresses, and 2FA phone numbers, leading to a criminal complaint, a regulatory filing with the UK Information Commissioner's Office (ICO), and mandatory credential resets. In addition to past US trademark litigation against Intercontinental Exchange, ION has suffered a severe market drawdown exceeding 96% from its all-time high, resulting in depressed trading liquidity and ticker fragmentation across digital asset trackers.