Iron Finance: SIL → STEEL

Dear community, following our previous announcements, the best way to move forward most efficiently and immediately, is to create a new token — STEEL, to replace the existing SIL token. This option also enables us to fully compensate users affected by yesterday’s incident.

To reflect these changes, our Iron Finance website and UI will be updated on Mar 18, 8:00 AM UTC.

In order to kickstart STEEL, 3 vFarms will be available, with a total emission rate of 26,000,000 STEEL over the next 12 months.

1. vPegswap IRON-vDOLLAR:

• Total rewards: 10,000,000 STEEL
• Duration: 12 months
• Rewards per block: 0.951293 STEEL
• Reward start block: 5782934
• Vesting: 30% immediate rewards, 70% will be vested in 3 months after the 1st month.
• For those who are currently holding IRON-vDOLLAR LP, you can directly stake your LPs in this new farm.

2. IRON-BUSD:

• Total rewards: 8,000,000 STEEL
• Duration: 12 months
• Rewards per block: 0.761035 STEEL
• Reward start block: 5782934
• Vesting: 30% immediate rewards, 70% will be vested in 3 months after the 1st month.
• For those who are currently holding IRON-BUSD LP, you can directly stake the LPs to the new farm.

3. STEEL-BNB:

• Total rewards: 8,000,000 STEEL
• Duration: 12 months
• Rewards per block: 0.761035 STEEL
• Reward start block: 5784134
• Vesting: 30% immediate rewards, 70% will be vested in 3 months after the 1st month.
• To ensure fair farming, STEEL-BNB rewards will start 1-hour after IRON-BUSD and IRON-vDOLLAR pool kick off.

Website: https://iron.finance
Twitter: https://twitter.com/IronFinance
Telegram: https://t.me/ironfinance
Medium: https://ironfinance.medium.com
Docs: https://docs.iron.finance