Ice skates are remarkably slippery across a wide range of conditions. We propose, based on earlier observations and new modeling, that an ice-rich slurry forms rapidly beneath a skate blade during each stride to lubricate the interface. Crushing from normal load and abrasion from sliding provide ice particles and heat to the slurry, with average contact pressures approaching melting pressures for the bulk ice. Shearing of the slurry by forward motion generates additional heat to melt the ice particles at the pressure-reduced temperature. We model these mechanics and link the viscosity of the resulting slurry to its ice fraction, which controls slurry-film thickness via lateral squeeze-flow. The slurry properties quickly converge to establish a highly efficient lubricating film that provides the characteristically low skate friction across a wide range of conditions. Although our 1D model greatly simplifies the complex interaction mechanics, its predictions are insensitive to most assumptions other than the average contact pressure. The presence of ice-rich slurries supporting skates merges pressure-melting, crushing, abrasion and lubricating films as a unified hypothesis for why skates are so slippery across broad ranges of speeds, temperatures and normal loads.