Protocol/Project Name: Ironclad Finance
Protocol Overview:
Ironclad is a decentralized, user-driven borrowing and lending liquidity market inspired by Aave and Liquity.
Using the lending module, depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized fashion.
Using the CDP module, users can borrow iUSD, an overcollateralized Mode-native stablecoin, and use it to earn above-average yield either through the stability pool or in various liquidity pools such as iUSD-USDC on Kim.
The two modules work together to increase the efficiency of the capital within the system.
Incentive Impact Statement:
Kim incentives will help to deepen iUSD liquidity on Mode and raise the average iUSD yield across the network. The effects of this are two-fold:
- Help Ironclad reach key liquidity thresholds for iUSD which will enable us to source oracle support for the stablecoin and unlock new integrations that will further legitimize it as the #1 Mode-native stablecoin.
- Increase the amount of iUSD minted, generating revenue for the platform and helping to bootstrap the lending market in the process via CDP collateral rehypothecation.
Contribution to the Kim Ecosystem:
Kim incentives will help to deepen liquidity for core assets across Mode such as ETH, MODE and USDC, with iUSD as a counter asset as more pools get made. Deeper liquidity will facilitate more volume for Kim and thus more trading fees.
If successful (if the extra yield is diluted via increased pool TVL), we will create more iUSD pools with core Mode assets and grow them to the best of our abilities.
Co-Incentivization Plans
No specifics have been detailed yet, but I expect we will be posting bribes for Kim voters in order to direct emissions. We are open to any other co-incentive initiatives as well!
Community Initiatives
Regular marketing and communications to our community to raise awareness about Kim governance as it pertains to directing emissions for Ironclad asset pools.
Contact Information
TG: @deficharless