A Frozen Jade Bracelet is a fairly rare item, as it’s manufacturing method has been lost during the Age of Darkness. It is made from a thousand year old Jade Ice and has an extremely high effect towards cultivation. It’s able to reduce the amount of deviation (more info) during training and is also able to nurture the soul realm.
At the welcome banquet for him, Ye Han offers Ye Ziyun a Frozen Jade Bracelet that he found during his travels. She promptly refuses the gift. However, Nie Li shamelessly grabs it out of Ye Han's hand, claiming that he is accepting it for her. Nie Li knows that this Frozen Jade Bracelet will work great with Ye Ziyun’s Snow Queen.