#IFCV02: Introduction of vPegswap stable pool and Voting for vesting schedule

INTRO

  1. To introduce a new stable vPegswap pool that would expand the Iron Finance ecosystem.
  2. To reduce the emission rate of the current IRON-BUSD and IRON-SIL pool and give incentives to the new vPegswap pool.
  • vPegswap IRON-vDollar pool:
    Yielding largest amount of $SIL rewards. The stable pool with the largest amount of SIL rewards will attract liquidity and create a high demand for IRONs. Which goes hand in hand with our primary goal of creating various demands for IRON and a high liquidity pool to maintain peg.
  • SIL-BNB pool:
    A reasonable and healthy SIL reward. Keeping SIL tied to BNB is imperative and allows a seamless flow of value.
  • SIL single staking pool:
    This special staking pool unique to IRON allows locking of SIL that would earn BUSD — extracted from the excess collateral in the protocol. This pool will have a dynamic APY due to frequent changes of excess collateral in the protocol. Later on, when we implement a strategy vault we would also create an additional passive income flow into this SIL staking pool.
  • Short term pools:
    Special occasions call for special pools. From time to time we will conduct a partnership or a collaboration with another protocol to further expand the reach of IRON Ecosystem. A certain amount of SIL to incentivise these pools will be made available.

UPDATES

  1. IRON-vDollar:
  • Duration: 12 months
  • Rewards per block: 0.47945375 SIL
  • Total rewards: 5040000 SIL
  • Vesting: Vesting percentage and duration will be voted by the community below
  • No liquidity lock
  • Rewards per block: 0.399545 SIL (reduced by 50%)
  • Total rewards: 4200000 SIL (reduced by 50%)
  • Duration: 12 months
  • Rewards per block: 0.18645375 SIL (reduced by 30%)
  • Total rewards: 1960000 SIL (reduced by 30%)
  • Duration: 12 monthsDuration: 12 months
  1. Other pools (50%SIL-50%BNB, 70%SIL-30%BTCB, 70%SIL-30%IRON) will remain unchanged at the moment. There will be adjustment once the single staking SIL vStake pool isrolling out next week.

VOTING

  • Option 1: 30% immediate and 70% vesting for 4 months after the 1 month
  • Option 2: 15 % immediate and 85% vesting for 4 months after 2 weeks
  • Option 3: 20% immediate and 80% vesting for 3 months after the 1 month
    The votings will be opened for 24 hours, start at March 13th 2021, 8AM UTC and will end at March 14th 2021, 8AM UTC. The new pool will be opened and the existing pools will be updated 4 hours after the votings end.

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Iron Finance

Building a user-friendly, multi-chain stableswap and lending ecosystem. Community chat: http://discord.gg/ironfinance