#IFCV02: Introduction of vPegSwap stable pool and Votings on vesting scheduleF

Voting ended about 5 years agoSucceeded

INTRO

We are announcing an introduction of vPegSwap stable pool and bringing you our 2nd Iron Finance Community Vote on the vesting schedule of the pool.

To introduce a new stable vPegswap pool that would expand the Iron Finance ecosystem.
To reduce the emission rate of the current IRON-BUSD and IRON-SIL pool and give the incentives to the new vPegswap pool.

In our future versions, our major farming pools distribution should be as below:

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

With the above reasons, our proposal is to make adjustments as bellow:

IRON-vDollar: New incentivize vPegswap stable pool

Duration: 12 months
Rewards per block: 0.47945375 SIL
Total rewards: 5040000 SIL
Vesting: Vesting percentage and duration will be voted by community below
No liquidity lock

BUSD-IRON:

Rewards per block: 0.399545 SIL (reduced by 50%)
Total rewards: 4200000 SIL (reduced by 50%)
Duration: 12 months

50%SIL-50%IRON: Rewards per block: 0.18645375 SIL (reduced by 30%) Total rewards: 1960000 SIL (reduced by 30%) Duration: 12 months
Other pools of 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 rolling out.

VOTINGS

We are asking the community for the implementation of 3 vesting schedule options for vPegswap pool as below:

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.

Off-Chain Vote

Option 1

1.32K 5.5%

Option 2

21.21K 88.3%

Option 3

1.5K 6.2%

Download mobile app to vote

Timeline

Mar 13, 2021Proposal created

Mar 13, 2021Proposal vote started

Mar 14, 2021Proposal vote ended

Oct 26, 2023Proposal updated

INTRO

We are announcing an introduction of vPegSwap stable pool and bringing you our 2nd Iron Finance Community Vote on the vesting schedule of the pool.

To introduce a new stable vPegswap pool that would expand the Iron Finance ecosystem.

To reduce the emission rate of the current IRON-BUSD and IRON-SIL pool and give the incentives to the new vPegswap pool.

In our future versions, our major farming pools distribution should be as below:

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

With the above reasons, our proposal is to make adjustments as bellow:

IRON-vDollar: New incentivize vPegswap stable pool

Duration: 12 months

Rewards per block: 0.47945375 SIL

Total rewards: 5040000 SIL

Vesting: Vesting percentage and duration will be voted by community below

No liquidity lock

BUSD-IRON:

Rewards per block: 0.399545 SIL (reduced by 50%)

Total rewards: 4200000 SIL (reduced by 50%)

Duration: 12 months

50%SIL-50%IRON: Rewards per block: 0.18645375 SIL (reduced by 30%) Total rewards: 1960000 SIL (reduced by 30%) Duration: 12 months

Other pools of 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 rolling out.

VOTINGS

We are asking the community for the implementation of 3 vesting schedule options for vPegswap pool as below:

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.