TL;DR
- We’ve built a massive veMODE position to direct OP incentives to our users
- We were awarded 33,000 OP via RPGF – going straight to users
- ICL is live on Aerodrome, AERO incentives kicking off this week
- We’re cutting ICL emissions by more than 60%
It’s a New Era for Ironclad.
Mode Season 3
Last week, Mode introduced veMODE, a voting mechanism aimed at creating a positive value-alignment loop between users and protocols. During each epoch, MODE stakers vote on which protocols should receive $OP incentives. Every couple weeks, the reward pool increases, providing stakers more influence over the distribution of rewards.
The launch of Season 3 on Mode is a pivotal moment for Ironclad. We have been steadily accumulating $MODE through oICL redemptions and are now positioned among the top 10 $MODE holders on the network.
This gives us the power to direct a substantial amount of OP rewards to Ironclad, and aggressively reduce ICL emissions as a result.
Vote for Ironclad!
Join us in creating maximum impact across the ecosystem by voting for Ironclad with your veMODE! As the season progresses, we will be optimizing our OP incentive distribution, focusing on iUSD liquidity providers and ICL stakers. And don’t worry, lending market users—there’s plenty in store for you as well.
ICL on Base
ICL has officially been upgraded to an OFT and is now live on Base! You can freely bridge ICL between Mode and Base using Stargate.
Aligned with Mode and other ecosystem partners, ICL has also been listed on Aerodrome. This week, we plan to expand ICL liquidity by incentivizing veAERO voters and attracting yield-seekers within the Aerodrome community. This Base expansion is strategically timed as we prepare for a super exciting top-secret development.
Cutting ICL Emissions
With Mode Season 3, RPGF funding, and the MODE we have amassed via oICL, we can now subsidize growth while keeping ICL emissions at less than 5% inflation per year. We can reward users with blue-chip assets like OP, AERO and MODE, and drive value to ICL stakers at almost no cost to us.
In conclusion – all thanks to the wonderful teams at Mode and Aerodrome:
- ICL inflation is being cut in half
- AERO incentives starting this week
- OP rewards to iUSD and ICL
And the biggest news is yet to come 🤫