Forged in Fire: IRON reaches $1B TVL Milestone
Iron Finance launched its project on the Polygon network on 18 May 2021. In these short few weeks since launch, the project has caught fire and amassed nearly $1.2 billion in TVL! With so much success in such a short time, the team of Iron Finance team would like to thank the community and all of its users for their incredible support.
Such rapid growth is nearly unprecedented in DeFi, let alone on the Polygon network. With this level of continuous success, IRON is looking like it could be DeFi’s next blue-chip token. Let’s take a look at a chart of the ecosystem’s growth:
As you can see, the growth in TVL has been exponential, rising from just $30M on May 20th to $107M on May 26th to a stunning $1.2 billion as of June 12.
Along with the explosive growth in TVL, the IRON network has been continuing to grow — with our daily tx count surpassing the likes of DAI and USDT by the end of May already! See chart below.
Strong metrics such as these show that IRON’s growth is not only monetary but also fundamental.
Forged in Fire
This incredible adoption is occurring in the midst of violent market movements, as BTC shed over 20% of its value on June 8th before finding support around $30k — only to rise 20% the following day. Such volatility can be damaging to altcoins as traders seek safe havens from this choppy market. However, IRON and TITAN have held strong — with IRON holding the peg perfectly and TITAN rising nearly 600% over the past 7d!
Stablecoins cut their teeth by proving they can withstand these sharp market movements, and so far IRON has not only survived, but has been thriving in these less than favorable conditions.
Celebrating $1B TVL
To celebrate the upcoming $1B milestones with the community, Iron Finance will be adding $100k IRON to our lottery rewards! From the IRON team, thank you for being with us, for staying with us and for all the success and joy that we’ve made together!