What Was TITAN and IRON Finance?
IRON Finance originally launched on Binance Smart Chain (BSC) before expanding to Polygon (MATIC). The project aimed to create a partially collateralized stablecoin called IRON, pegged to the US dollar through a governance token (TITAN). The initial mechanism worked as follows:
- **0.75 USDC + 0.25 TITAN (valued at $0.25)** = 1 IRON (target: $1)
However, TITAN's price volatility—from $1 in early June to a peak of $60—triggered mass sell-offs. This caused IRON to depeg from $1, creating a death spiral for both tokens.
The ICE Token Relaunch
On June 28, the team announced its V2 revival plan, including:
- Governance staking (launched July 16)
- Formation of IronDAO for decentralized governance
- Reissued IRON stablecoin (August release)
- IronSwap exchange platform (live)
- IronLend lending protocol (testnet expected July 19)
ICE Tokenomics:
- Fixed supply: 1 billion tokens
- 1% reserved for treasury
- 29% allocated to user compensation (3-year linear vesting)
- 70% for liquidity mining rewards (3-year linear vesting)
👉 Discover how ICE compares to other DeFi tokens
Compensation Eligibility
Polygon users:
- IRON & IRON LP holders
- TITAN & TITAN LP holders
BSC users:
- dTokens holders
- DND & DND LP holders
- STEEL & STEEL LP holders
Note: New development will focus solely on Polygon, not BSC.
IronSwap: The Low-Fee Stablecoin DEX
Similar to Curve, IronSwap facilitates stablecoin/asset swaps with minimal slippage. Key features:
- 0.01% trading fees (lowest on Polygon)
- Supports USDT/USDC/DAI pools (current APY: 105%)
Despite ICE's volatility—plunging from $28.7 to $3.2—the protocol has attracted $1.46 billion in total value locked (TVL). This raises questions about the sustainability of algorithmic stablecoins, where Ampleforth (AMPL) remains one of few long-term survivors.
👉 Learn about managing crypto volatility risks
FAQs
Q: Why did IRON Finance collapse initially?
A: Excessive TITAN sell-offs destabilized IRON's peg, causing a feedback loop of declining values.
Q: Is ICE a safer investment than TITAN?
A: While the V2 model includes safeguards, algorithmic stablecoins inherently carry high risk due to complex mechanisms.
Q: How does IronSwap compete with Curve?
A: Its ultra-low 0.01% fee structure targets cost-sensitive traders on Polygon.
Q: Will BSC users receive future support?
A: No—development is now Polygon-exclusive.
Risk Disclosure
Cryptocurrency investments are highly volatile. You may lose your entire capital. Assess risks carefully.
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