Protocol/Project Name:
- Ironclad Finance
Protocol Overview:
Ironclad is a battle-tested lending market designed to maximize Mode exposure and minimize risk for users. There are 2 components to the protocol:
- A CDP module that enables users to mint the protocol’s native stablecoin iUSD against Mode’s most popular blue-chip assets.
- A lending market that delivers competitive interest rates for lending and borrowing.
Collateral from the CDP is lent out on the lending market, driving down borrow-side rates and generating a constant source of yield that is routed back to stablecoin holders via the stability pool.
MS Receiver Address:
Mode: 0x969904a7e77381a89Ae2BeE4c4C7d1C10e3563F8
Optimism: 0x969904a7e77381a89Ae2BeE4c4C7d1C10e3563F8
Distribution Confirmation:
We confirm that we will use Merkl to distribute the incentives received.
Incentive Impact Statement:
Ironclad will use Season 3 incentives primarily to incentivize iUSD liquidity provision. iUSD is a powerful asset as each dollar minted generates multiples in TVL and volume for the network (here is a brief explainer). Ironclad will also use a portion of the incentives to reward ICL stakers and borrowers on the lending market, matching these rewards with the protocols native reward token, oICL.
By rewarding iUSD borrowers and LPs, Ironclad can continuously retain and attract high-value users for the network.
Eligibility Criteria:
Additional Information:
Roadmap
The team is working on supporting several new collateral types for iUSD, including Peapods pTKNs and BMX’s wMLT token.
In addition, our organization’s flagship product, Cod3x, is nearing production and will be launching in Q4 of this year. Cod3x is AI-powered declarative intent solving infra wrapped into an extremely accessible application. We are expecting Cod3x to drive a lot of users to Ironclad and to Mode by extension.
To learn more about Cod3x you can visit cod3x.org
If you are a builder who’s interested in a Cod3x integration, please reach out!
Partnerships:
We are working with ICHI and Brahma to bring new iUSD vaults and strategies that will offer new yield opportunities for iUSD holders. Any new iUSD positions launched will be eligible for MODE incentives.
Contact Information:
TG: @deficharless