IceCreamSwap (Core) Crypto Exchange Review: Is It Worth Using in 2025?

18 July 2025 5 Comments Michael Jones

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Calculate expected slippage and final value for WCORE trades on IceCreamSwap (Core). Remember: with only $290.24 daily volume, slippage can be significant.

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WARNING: With only $290.24 daily volume and 70% of it in USDT/WCORE, large trades may experience slippage over 10%.
For best results, trade small amounts only.

IceCreamSwap (Core) isn’t another big-name decentralized exchange like Uniswap or PancakeSwap. It doesn’t have millions in daily volume, hundreds of tokens, or a long list of user reviews. But if you’re trading on the Core Chain, it might be one of the only options you have. Launched in 2023, IceCreamSwap was built from day one to serve the Core blockchain - no afterthought, no retrofit. That’s its whole reason for existing.

What Exactly Is IceCreamSwap (Core)?

IceCreamSwap (Core) is a decentralized exchange (DEX) that runs natively on the Core Chain. Unlike centralized exchanges where you deposit funds and trust a company to hold them, IceCreamSwap lets you trade directly from your wallet using smart contracts. You never give up control of your crypto. That’s the whole point of DeFi.

Right now, it supports just six tokens and offers between nine and ten trading pairs. The most active pair is USDT/WCORE - Core Chain’s native token. That alone makes up over 70% of the platform’s entire daily volume. That tells you something: this exchange isn’t for diversifying your portfolio. It’s for moving WCORE in and out of stablecoins.

Trading Volume and Liquidity Are Extremely Low

As of November 2025, IceCreamSwap (Core) reports a 24-hour trading volume of just $290.24. That’s not a typo. It’s less than what a single trade on Binance or Uniswap might cost. And it’s down 21.44% from the previous day. That’s not a glitch - it’s a pattern. The platform has struggled to attract consistent traders since launch.

Liquidity is even worse. Its combined orderbook depth ranks in the 7th percentile among all DEXs. What does that mean for you? If you try to swap more than a few hundred dollars’ worth of WCORE, you’ll likely get a terrible price. Slippage could hit 5%, 10%, or more. That’s not trading - that’s gambling on price impact.

The average bid-ask spread is 0.767%. That’s normal for small DEXs. But when your volume is this low, even a small spread can eat into profits. And with no margin trading, leverage, or advanced order types, you’re stuck with basic spot trades. No stop-losses. No limit orders. Just swap and hope.

How Does It Find the Best Rates?

IceCreamSwap claims to scan the entire Core Chain blockchain to find the best possible swap routes. That sounds fancy, but in practice, it’s just a basic aggregator. Since there are only six tokens and minimal liquidity pools, there aren’t many paths to choose from. It’s not like Uniswap, which pulls from dozens of liquidity sources across multiple chains.

It’s more like a tiny local store trying to compete with Amazon. The algorithm works - it finds the best rate among the few options available. But if there’s no competition, there’s no real savings. You’re getting the best of a bad situation.

A nervous trader using a clunky computer with high slippage and a floating ICE token.

Is There an ICE Token? What’s the Deal?

Yes, there’s an ICE token. But here’s the problem: nobody seems to know exactly how it connects to the exchange. Is it a governance token? A reward token? A fee discount token? The website doesn’t say. There’s no whitepaper, no roadmap, no clear utility.

The ICE token’s price has dropped 2.34% in the last 24 hours and 6.36% over the past week. That’s not surprising - when a platform has zero user reviews and $300 in daily volume, any token tied to it is likely a speculative bet. Don’t assume ICE gives you any real power or perks on IceCreamSwap. It might not even be necessary to use the platform.

Zero User Reviews - Should You Be Worried?

On FxVerify, IceCreamSwap (Core) has a 0 out of 5 stars rating. Not because users hate it - because there are zero reviews. That’s not normal for a platform that’s been live since 2023. Most DEXs with even modest traffic get feedback within months. If no one’s talking about it, that’s a red flag.

It could mean the user base is tiny. Or it could mean people tried it, ran into issues, and left without saying anything. Either way, you’re going in blind. No one’s documented common bugs. No one’s warned about wallet connection problems. No one’s said whether withdrawals ever fail. You’re the first test subject.

Who Should Use IceCreamSwap (Core)?

There’s only one group of people who should consider using this exchange: Core Chain holders who need to trade WCORE.

If you’re holding WCORE and want to swap it for USDT, WETH, or another token on the Core Chain, IceCreamSwap is one of the few options. There’s no centralized exchange that supports Core Chain natively. So if you’re deep in this ecosystem, you don’t have many alternatives.

But if you’re looking to trade Bitcoin, Ethereum, Solana, or even popular tokens like SHIB or DOGE - walk away. IceCreamSwap doesn’t support them. It’s not a general-purpose DEX. It’s a niche tool for a niche chain.

A deserted crypto highway with signs pointing to major DEXs and a tiny IceCreamSwap shack.

Why It’s Not Going to Replace Uniswap or PancakeSwap

Uniswap handles over $1 billion in daily volume. PancakeSwap does $500 million. IceCreamSwap does $290. That’s not a scaling problem - that’s a relevance problem.

Major DEXs thrive because they’re multi-chain, multi-token, and have deep liquidity pools. IceCreamSwap is single-chain, limited-token, and shallow. It doesn’t compete - it survives. And it survives only because Core Chain hasn’t attracted a better alternative yet.

If Core Chain takes off - if developers build big apps on it, if users flood in - then IceCreamSwap might grow. But right now, it’s a placeholder. A quiet corner of DeFi where the lights are on, but no one’s home.

Is It Safe to Use?

Technically, yes. It’s a decentralized exchange. Your funds are never held by a company. You sign transactions with your wallet. As long as you’re using a trusted wallet like MetaMask or Phantom, and you double-check contract addresses, the risk is low.

But safety isn’t just about smart contract audits. It’s about sustainability. If no one trades here, liquidity providers pull out. If liquidity providers pull out, the exchange becomes useless. And if the platform fades away, your tokens might get stuck. There’s no customer support. No help desk. No email address. Just a website and a smart contract.

Only use IceCreamSwap if you’re comfortable with that risk. And only trade small amounts. Treat it like a testnet - not a real exchange.

Bottom Line: A Tool, Not a Platform

IceCreamSwap (Core) isn’t a great exchange. It’s not even a good one. But it’s functional - if you’re on the Core Chain and need to swap WCORE. It’s not for beginners. It’s not for casual traders. It’s not for anyone looking for volume, speed, or reliability.

It’s a tool. A bare-bones, low-volume, no-reviews tool for a blockchain that hasn’t yet found its audience. If Core Chain becomes big, IceCreamSwap might become important. Right now? It’s just a quiet little swap station on a backroad nobody’s driving on.

If you’re not actively using Core Chain, skip it. If you are - and you need to move WCORE - then go ahead. But keep your expectations low. And your trades small.

5 Comments

Raymond Day
November 11, 2025 AT 15:26

This is literally the most depressing DEX I've ever seen 😭 $290 in volume??? Bro, I spent more on coffee this morning. If you're holding WCORE and you're not trading on IceCreamSwap... you're just hoarding digital dust.
Diana Dodu
November 11, 2025 AT 18:02

I'm from the US and I'm telling you right now - if you're not using a real exchange, you're already behind. This is why American crypto leads the world. We don't settle for $300 daily volume. We build giants. This? This is a crypto ghost town. 🇺🇸
Noriko Yashiro
November 12, 2025 AT 22:26

Honestly? I tried it. I thought 'maybe it's a hidden gem'... nope. The interface felt like it was built in 2018. And no reviews? That's not a feature, that's a funeral bell. I'm out. 🚶‍♀️
Atheeth Akash
November 12, 2025 AT 23:16

i use it sometimes when i need to swap wcore. its slow but it works. no drama. no hype. just do the swap and leave. 👍
James Ragin
November 14, 2025 AT 06:44

Let me ask you this: who funded this? Who owns the smart contracts? Why is there zero transparency? The fact that no one’s auditing the ICE token’s contract is not an oversight-it’s a coordinated cover-up. This isn’t DeFi. This is a honeypot disguised as a DEX. The Fed is watching. They’re always watching.