TL;DR: Stablecoin launch, IronDAO, Cardano testnet, Insurance, Compensation.
1️⃣ IRON Stablecoin
Target release date: Wednesday, 25 August 2021
Our stablecoin design has been presented in detail last week. We want to allow ourselves another 10 days for thorough testing. We want to thank our governance community for their ongoing contribution as well as our cryptoeconomics advisor in helping us deliver a long-lasting stablecoin product.
Definitely expect another pre-launch article next week with further details and some “how-to mint IRON” examples.
Target release date: mid-September 2021
We’ve been building the new Governance module for quite some time now. IronDAO will be a major governance upgrade compared to our current decision-making and voting process. Most importantly, IronDAO leads to a:
▶ continuously active and engaged governance (for example, IRON stablecoin parameters governance)
▶ significant increase of responsibilities (compared to our current Governance voting format)
▶ progressively higher level of decentralization for the whole project
3️⃣ Iron Finance on Cardano Testnet (and Solana, AVAX, Arbitrum)
Target release date: end of August and September 2021
First, some quick background story: Cardano’s latest Alonzo White testnet launch phase puts the network on track to becoming a smart contract-enabled blockchain that can power decentralized finance economies. Next month comes Alonzo Purple, which will be the first time that the Cardano will enable exploring smart contract services, in a sandbox environment.
Therefore, later this month Iron Finance will start with preparations to kick off experimenting on Cardano’s KEVM testnet as soon as smart contracts go live. We will deploy IronSwap contracts first, followed by a public test site (think of testnet-cardano.iron.finance).
The purpose of launching on Cardano’s testnet will be to:
▶ Allow the Iron Finance community to try and test the performance of smart contracts on Cardano and provide detailed and constructive feedback
▶ Discuss and conclude on whether Cardano testnet results are good and meet our expectations, and if they do, then
▶ Closely follow Cardano’s Goguen era launch set for September 2021
▶ Consider a similar expansion approach with Avalanche, Solana and Arbitrum
At this phase, our Cardano venture is purely experimental. Iron Finance wants to be well-positioned and take on the first-mover advantage should we ever decide to go cross-chain with Cardano mainnet launch. Any other discussion (tokenomics, bridges, cross-chain products) at this point is pure speculation and our focus remains exclusively with the Polygon Network.
4️⃣ Insurance for IronLend
Target release date: end of September 2021 (maybe sooner)
Highlight goal: IRON stablecoin with insured collateral on IronLend.
We’re currently narrowing down on available options to find the ideal insurance provider. We are currently in a “research and discuss” phase. Once fully integrated with IronLend, insurance options will cover topics such as:
▶ Overall Hacks and Exploits
▶ IronLend liquidation
▶ Stablecoin losing peg
We have dedicated a separate article where we cover all the next steps.