Iron Finance roadmap update: May and June 2021
EDIT 13 May 2021
Following the ValueDeFi incident on 7 May 2021 which also affected Iron Finance, our roadmap will slightly delay. We do not expect to lose more than 2–3 weeks for that reason.
For the previous roadmap Medium article, please see:
With April being nearly behind us, we are already excited to share an overview of our upcoming May releases and updates. Our main focus is on growing the supply of our IRON stablecoin which can only be achieved by developing use cases and products.
Dragon Lottery
We have nearly finalized the economic model for our lottery and are still brainstorming features like Jackpot, lottery tax, STEEL burn, and other mechanisms and ideas which will raise interest in the game. Buying a lottery ticket will be possible only with IRON. Payouts will also be in IRON. The lottery will launch at the beginning of May.
Cross-Chain
We have extensively research cross-chain opportunities for Iron Finance. After various discussions with other teams, we have narrowed our choice down to Ethereum, Solana, Wanchain, Avalanche and Fantom. We expect to build bridges with 1 new smart chain every month starting from May. Moving towards some of these smart chains will enable Iron Finance to gain increased visibility, partnerships, and most importantly: acquire new users by developing use-cases.
Lending
The current plan is to develop our own lending platform. We have quite a few good ideas on our minds and ultimately want to see them all implemented in our own lending product.
NFTs
Bringing NFTs to the Iron ecosystem has always been on our minds. The NFTs will have intrinsic value coming from integration within the Iron ecosystem. Think of our NFTs as “economic boosters” for holders.
Synthetic stocks
We anticipate our next synthetic asset to be a stock or commodity. Let us know which ones you have on your mind and Governance voting will be initiated. Our synthetic assets, whether crypto, stocks or other assets, will be an important part of our lending product roadmap.
IRON Savings
This will be an experimental feature where IRON holders can get additional interest income. The release might happen in June eventually.
IronPot
Another feature we are developing will be called IronPot. In brief, the feature will allow users (projects, communities, teams) to easily split and distribute coins among each other. If IRON is not used for distribution, a certain amount of STEEL will have to be locked up. Airdrops are an obvious use-case example.
SIL > STEEL compensation ends
On 29 May, all users affected by the SIL incident will be compensated. This will reduce daily STEEL emission by around 15,000 STEEL.
Audits
The Diamond Hand audit by Omniscia is finalized and results will be published within the next days after our review. There are no critical or high-risk issues.
