Apple will crop your icon in the squircle shape, so you’d better not try to do anything precise in the templates they provide.
Thoughts on the new official Apple app icon template
Michael Flarup
28010

While it is a shame that Apple doesn’t release the official shape for designers to use, I can understand why.

Apple has been using variations of this curve on its products for many years before iOS 7. Over the years, I have admired the curve on my old MacBook, iMacs and more recently, iPad. The curve is like a piece of intellectual property; one of those subtle design features that sets Apples products apart from the competition. It permeates their hardware and user interfaces. Releasing the construction method for this curve, or even a vector file, could result in it being adopted more easily by competitors. Its construction method may not even be patentable, so keeping it a secret would be to Apple’s advantage.

For the iOS icon mask, I think the corner curve is a bezier approximation of a traditionally constructed elliptical curve. Ellipses, as are other curves derived from conic sections, are easy to construct with basic drawing tools, e.g., A pair of compasses and a ruler. For this reason, but not this reason alone, I don’t think a squircle algorithm is used.

Here is my more traditional exploration of the curve using conic sections.

http://www.designbygeometry.com/ios-icon-mask-corner-curve-study/